Pen Needles Market quickly expanding to reach USD 2.82 billion by 2021

Posted by rohan on March 23rd, 2018

The report " Pen Needles Market by Therapy (Growth Hormone, Insulin, & GLP-1), Type (Standard Pen Needles & Safety Pen Needles), Needle Length (4mm, 6mm, 8mm, 10mm, & 12mm), and Mode of Purchase (Retail & Non-Retail) – Global Market Analysis, Size, Geographic Regional Analysis, Competitive Strategies Analysis And Forecasts (2016 to 2021)" is published by Market data forecast. The Global Pen Needles Market was price USD 1.66 billion in 2016 and calculable to be growing at a CAGR of 11.18% to achieve USD 2.82 billion by 2021, within the mentioned forecast period. Pen needles are used to deliver the medication (such as the hormone or different injectable medications) together with injection pens. A pen needle contains hollow needle connected to injection pen. Pen needles are offered with varied needle lengths and are majorly used by diabetic patients. Pen needles, as compared to ancient syringes and vials, offer a convenient, easier and additional correct dose. Such needles don't need to be pushed through the rubber ampule stopper and therefore tend to retain their sharpness and lubrication. Hormone syringes, quite 1.5 billion, are utilized in the united states once a year. Such needles, on account of accidental strokes, possess a high risk of secondary infections, which may be reduced by the utilization of pen needles. Thus, this market possesses a profitable potential.

Browse through 175 Pages and in-depth TOC on " Pen Needles Market” https://www.marketdataforecast.com/market-reports/global-pen-needles-market-176/

Rising the scope of diabetic population, increasing technological advancements, growing awareness programs (such as conferences & meetings) on the use of pen needles, the existence of favourable compensation situations, and benefits of pen needles as compared to syringes & vials are a number of the factors that drive the expansion of worldwide pen needles market. The market, however, is guaranteed to face an offset because of utilising of pen needles, the presence of different drug delivery strategies, and poor accessibility of pen needles over standard syringes & vials, complications and mental factors related to needle usage, availableness of alternative convenient dose forms like orally administered ones, and poor aid compensation policies. Major market players are expected to face challenges like stopping individuals from reusing needles and obtaining rid of the hesitation whereas the change from standard to new strategies are restraining the expansion of worldwide pen needles market.

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The fragmentation of Global pen needles market is done into therapy, needle length, and type, mode of purchase. On the idea of therapy, the market is additionally subdivided as glucose-like peptide-1 (GLP-1) therapy, and growth hormone therapy, insulin therapy. The market on the basis of type, is further segmented into safety needles and standard needles. The needle lengths hold of about 4mm, 6mm, 8mm, 10mm, & 12mm. supported mode of purchase, the market is classified into retail & non-retail purchase modes. Based on therapy, insulin therapy is calculable to command the biggest share of the world pen needles market in 2016 and expected to grow at the very best CAGR throughout the forecast period 2016-2021. Supported kind, standard pen needle section is calculable to account for larger share of worldwide pen needles market in 2016, whereas safety pen needles segments are calculable to grow at a better CAGR for future 5 years (2016-2021). Among the length of pen needles, 8mm is calculable to command for the biggest share of the world pen needles market in 2016 and 4mm is predicted to grow at the very best CAGR throughout the forecast period. According to the mode of purchase, the retail purchase mode is calculable to account for larger share of the world pen needles market in 2016 and expected to grow at a better CAGR for future 5 years (2016-2021).

On the standard of geographical analysis, the worldwide Pen Needles market is classified into varied regions namely Middle East, North America, Europe, Latin America, and Asia-Pacific, Africa. Europe is calculable to account for the biggest share of 32.5% of the world pen needles market in 2016, whereas Asia-Pacific is calculable to grow at the very best CAGR of 14.10% throughout the forecast period 2016-2021.

Novo Nordisk A/S (Denmark), Ypsomed Holding AG (Switzerland), Becton, Dickinson and Company (U.S.) are the most important players holding for about 85-90% of the global pen needles market share in 2016. Other companies in this market are B. Braun Melsungen (Germany), Terumo Corporation (Japan), Allison Medical, Inc. (U.S.), HTL-STREFA S.A. (Poland), HTL-STREFA S.A. (Poland), UltiMed, Inc. (U.S.), x Artsana S.p.a. (Italy).

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