Global Pen Needles Market Current Trends, Research Analysis and Projections For 2018-2028
Pen needles use injection pens to deliver medicine into the body which is an alternative drug delivery method to the vial and syringe. Pen needles are available in various sizes and are used by patients in various therapy which includes insulin, GLP-1, and growth hormones.
The global pen needles market revenue is expected to register a moderate CAGR over the forecast period. Increasing incidence of diabetes globally is major factor expected to boost growth of the target market over the forecast period. The global pen needles market report has been segmented on the type, needle length, therapy, and region.
Based on type, the global pen needles market is segmented based on standard pen needles, and safety pen needles. Based on needle length, the global pen needles market is segmented based on 4MM, 5MM, 6MM, 8MM, 10MM, and 12MM. The 8mm segment accounts for highest revenue share of the market over the forecast period.
By therapy, the global pen needles market is segmented based on insulin, GLP-1, and growth hormones. The insulin segment is expected to account for significant revenue share of market and expected to register a significant CAGR over the forecast period.
Regional segmentation includes North America, Europe, Latin America, Asia Pacific and Middle East and Africa. North America contributes for significant market share in terms of revenue in global pen needles market and is expected to maintain its dominance over the forecast period. In addition, market in Asia Pacific is expected to register highest growth rate over the forecast period. Increasing demand for pen needles from countries such as the China, India, and Japan owing the rapidly growing incidence of diabetes is major factor expected to drive growth of market in the region over the forecast period.
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Some prominent players in the global pen needles market are Becton, Dickinson and Company, Novo Nordisk A/S, Ypsomed Holding AG, Owen Mumford, Ltd., HTL-Strefa S.A., B. Braun Melsungen, Terumo Corporation, Ultimed, Inc. (LDI, Ltd.), Allison Medical, Inc., and Artsana S.P.A.
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