Global Pen Needles Market Forecasts to 2026: 8mm Pen Saw Largest Market Share in 2020, Due to Wide Adoption by Diabetes Patients - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Pen Needles Market by Type (Standard Pen Needles, Safety Pen Needles), Length (4mm, 5mm, 6mm, 8mm, 10mm, 12mm), Therapy (Insulin, GLP 1, Growth Hormone), and Mode of Purchase (Retail, Non-Retail) - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The pen needles market is expected to reach USD 2.2 Billion by 2026 from an estimated USD 1.3 Billion in 2021, at a CAGR of 11.2%. Growth in the market is largely driven by the growing prevalence of chronic diseases and the favorable reimbursement scenario in selected countries. On the other hand, the preference for alternative modes of drug delivery, poor reimbursement in developing countries, and needle anxiety are expected to restrain the overall market growth. The growing preference for biosimilar drugs and emerging markets are areas of opportunity in the market. The challenges faced by the market are reuse of pen needles and misuse of injection pens.
Based on type, the pen needles market is segmented into standard and safety pen needles. In 2020, the standard pen needles segment accounted for the largest share in the pen needles market. Standard pen needles are preferred over safety pen needles as they are more affordable, especially considering the need for daily insulin intake. The low cost of standard pen needles has also led to their wide adoption in emerging economies such as China, India, and Brazil, where the use of safety pen needles is low to negligible.
Based on length, the market is segmented into 4mm (5/32''), 5mm (3/16''), 6mm (1/4''), 8mm (5/16''), 10mm, and 12mm (1/2''). In 2020, the 8mm segment accounted for the largest share in the pen needles market. The large share of this segment is mainly attributed to the wide adoption of these needles among diabetes patients.
Based on therapy, the market is categorized into insulin therapy, glucagon-like peptide-1 (GLP-1) therapy, growth hormone therapy, and other therapies (osteoporosis, thyroid, obesity). In 2020, insulin therapy held maximum of the global pen needles market, primarily due to the high and growing diabetic population globally. This segment is also expected to grow at the highest rate during the forecast period.
The report analyzes the pen needles market and aims at estimating the market size and future growth potential of this market based on various segments such as type, length, therapy, mode of purchase, and region. The report also includes a product portfolio matrix of various pen needles available in the market. The report also provides a competitive analysis of the key players in this market, along with their company profiles, product offerings, and key market strategies.
This report includes:
- Market Penetration: Comprehensive information on product portfolios offered by the top players in the global pen needles market. The report analyzes this market by type, therapy, length, and mode of purchase
- Product Enhancement/Innovation: Detailed insights on upcoming trends and product launches in the global pen needles market
- Market Development: Comprehensive information on the lucrative emerging markets by type, therapy, length, and mode of purchase
- Market Diversification: Exhaustive information about new products or product enhancements, growing geographies, recent developments, and investments in the global pen needles market
Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, competitive leadership mapping, and capabilities of leading players in the global pen needles market.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
5.2 Market Dynamics
18.104.22.168 Growing Prevalence of Chronic Diseases
22.214.171.124 Favorable Reimbursement in Select Countries
126.96.36.199 Preference for Alternative Modes of Drug Delivery
188.8.131.52 Poor Reimbursement Scenario in Developing Countries
184.108.40.206 Needle Anxiety
220.127.116.11 Growing Preference for Biosimilar Drugs
18.104.22.168 Emerging Markets
22.214.171.124 Reuse of Pen Needles
126.96.36.199 Misuse of Injection Pens
5.3 Pricing Analysis
5.4 Value Chain Analysis
5.5 Ecosystem Market Map
5.6 Porter's Five Forces Analysis
5.7 Supply Chain Analysis
5.8 Regulatory Analysis
5.9 Impact of COVID-19 on the Pen Needles Market
5.10 Patent Analysis
5.11 Technology Analysis
6 Pen Needles Market, by Type
7 Pen Needles Market, by Length
8 Pen Needles Market, by Therapy
9 Pen Needles Market, by Mode of Purchase
10 Pen Needles Market, by Region
11 Competitive Landscape
12 Company Profiles
- Advacare Pharma
- Allison Medical, Inc.
- Artsana Group
- B. Braun Melsungen Ag
- Becton, Dickinson and Company
- Berpu Medical Technology
- Hindustan Syringes and Medical Devices
- Links Medical Products
- Mhc Medical Products
- Nipro Corporation
- Novo Nordisk A/S
- Owen Mumford
- Promisemed Diabetes Care
- Simple Diagnostics
- Terumo Corporation
- Trividia Health
- Van Heek Medical
- Vogt Medical Vertrieb
Ypsomed Holding Ag
For more information about this report visit https://www.researchandmarkets.com/r/8ihm2k
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