Pen Needles Market by Therapy and Mode of Purchase

According to the report “Global Pen Needles Market,” published by Market Data Forecast, the global market is projected to reach USD 2.82 billion by 2021 from USD 1.66 billion in 2016, at a CAGR of 11.18%.

Sterile, single-use pen needles are intended to be used with a pen injector device for the subcutaneous injection of insulin. They are commonly used by people with diabetes who often require multiple daily insulin injections. Insulin pen needles and syringes are the most commonly used device by diabetics for injecting insulin. Although injecting with the use of syringe is still the most predominant method, more people are seeing the benefits of using insulin pen device and diabetic pen needles. Pen needles used to be long and sharp. Thanks to advancements in technology, they are now small, thin and often painless. Universal pen needles fit almost all brands of pen.

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The factors influencing the Global Market for Pen Needles Market, either positively or negatively are presented in the DROC analysis Rising number of diabetic population, increasing technological advancements, growing awareness programs (such as conferences & meetings) on the utilization of pen needles, existence of favorable reimbursement scenarios, and advantages of pen needles as compared to syringes & vials are some of the factors that drive the growth of global pen needles market. However, reuse of pen needles, presence of alternative drug delivery methods, and poor accessibility of pen needles over conventional syringes & vials are restraining the growth of global pen needles market.

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For granular level understanding, the Pen Needles Market is segmented based on the following categories with Market Size Estimations and Y-o-Y Forecasts presented for each sub-segments.

• By Therapy
o Insulin Therapy
o GLP-1 Therapy
o Growth Hormone Therapy

• By Type
o Standard Needle
o Safety Needle
• By Needle Length
o 4mm
o 6mm
o 8mm
o 10mm
o 12mm

• By Mode of Purchase
o Retail
o Non-Retail

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On the basis of geographical region the global pen needles market is segmented as North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Europe is estimated to account for the largest share of 32.5% of the global pen needles market in 2016, whereas Asia-Pacific is estimated to grow at the highest CAGR of 14.10% during the forecast period 2016-2021.

• North America Pen Needles Market
• Europe Pen Needles Market
• Asia-Pacific Pen Needles Market
• Latin America Pen Needles Market
• Middle East and Africa Pen Needles Market

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Becton, Dickinson and Company (U.S.), Novo Nordisk A/S (Denmark), and Ypsomed Holding AG (Switzerland) are the major players accounting for ~85-90% of the global pen needles market share in 2016. Other players include UltiMed, Inc. (U.S.), Allison Medical, Inc. (U.S.), Owen Mumford, Ltd. (U.K.), B. Braun Melsungen (Germany), Artsana S.p.a. (Italy), HTL-STREFA S.A. (Poland), and Terumo Corporation (Japan), among others.

The Pen Needles Market study offers the following deliverables:

• Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is blooming

• Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail

• Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics

• Study of macro and micro environmental factors that effect the global market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses

• A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and analyst overview to study and sustain the market environment

• Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies

• Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

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