Pen Needle Market Size, Share & Forecast 2018-2023

Posted by Rishabh on September 10th, 2019

Orion Market Research (OMR) recently published a market research report on the global pen needle market. According to OMR analysis, the global pen needle market is estimated to grow significantly during the forecast period 2018-2023. The crucial factors that lead to propel the growth of the market includes increasing number of diabetic patients, advancements of insulin pens over syringe and vials, low cost of pen needle, favorable reimbursement policies and constant government support in order to improve healthcare services.

Full report of Global Pen Needle Market is available at: https://www.omrglobal.com/industry-reports/pen-needle-market/

Furthermore, the global pen needle market is segmented on the basis of type, therapy, mode of purchase and regional outlook. The report provides detailed & insightful chapters which include market overview, key findings, strategic recommendations, market estimations, market determinants, key company analysis, market insights, company profiling, market segmentation, geographical analysis, analyst insights and predictive analysis of the market.

A significant rise in diabetic patients is primarily driving the growth of the market. Due to changing lifestyle, decreasing physical workouts and unhealthy eating habits, prevalence of diabetes among youths, adults and elderly people is continuously growing across the world. Thus, proportion of obese population is continuously increasing across the globe. According to the IDF (International Diabetes Federation), currently there are 425 million people affected by diabetes across the globe. A total of 132,000 children and adolescents younger than age of 18 are reported to be diagnosed with diabetes in the US among total population of 23.1 million in 2015 as per National Diabetes Statistics report. Along with North America, Asia-Pacific is one of the worst affected regions. Rate of urbanization in the countries of Asia-Pacific such as China, India and Indonesia is substantially high which, as a result, is rapidly transforming lifestyle.

Moreover, technological advancement in healthcare industry plays the vital role in the development of patient friendly treatment process. Pen needle is a substitute for conventional syringe and vials for injecting medicines in the body. Pen needle possess technical advantages over syringe and vials such as greater dose accuracy, auto shield needles, and small and thin needle size reduces pain among elderly patients. It facilitates ease of operation for regular injection of insulin in the body. Additionally, low cost of pen needle is considered as a significant driver of pen needle market in emerging economies.  Global pen needle market is estimated to flourish in the forecast period due to increase in opportunities substantially.

Request a free sample of our report on Global Pen Needle Market: https://www.omrglobal.com/request-sample/pen-needle-market

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