The Pen needles market is projected to reach USD 2.81 Billion by 2021 from USD 1.65 Billion in 2016, growing at a CAGR of 11.2% during the forecast period of 2016 to 2021. Growth in market can be attributed to favorable reimbursement environment and government support in selected countries.
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Global pen needles market witness’s high competitive intensity as there are several big and many small firms with similar product offerings. These companies adopt various strategies (new product launches, acquisitions, and geographical expansions) to increase their market shares and to establish a strong foothold in the global market.
Research is useful for following target audience
- Manufacturing companies of pen needles, insulin pens, injectable drug delivery devices, & diabetes supplies
- Suppliers and distributors of pen needles, insulin pens, injectable drug delivery devices, and diabetes supplies
- Research institutes and academic centers
- Pharmaceutical and biopharmaceutical companies
- Biotechnology companies
- Authorities framing reimbursement policies for pen needles
- Business research and consulting service providers
- Venture capitalists
8mm pen needles segment is expected to account for largest share of pen needles market, by needle length, in 2016.
Insulin therapy segment is expected to dominate pen needles market, by therapy, in 2016. Growth in insulin therapy segment can be attributed to increasing use of insulin by diabetic population and increasing awareness about insulin self-administration among type 1 and type 2 diabetes patients.
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The pen needles market report analyzes market based on type, needle length, therapy, & mode of purchase. Detailed insights on upcoming technologies, research and development activities, & new product launches in pen needle market.
In-depth assessment of market shares, strategies, products, distribution networks, & manufacturing capabilities of leading players in pen needles market.
Global Market Drivers
1 Favorable Reimbursement Environment and Government Support in Selected Countries
2 Advantages of Insulin Pens Over Syringes and Vials
3 Technological Advancements
4 Growing Diabetic Population
5 Conferences, Meetings, and Congresses to Create Pen Needle Awareness
Prominent players in pen needles market include Becton, Dickinson, and Company (U.S.), Novo Nordisk A/S (Denmark), Ypsomed Holdings AG (Switzerland), Owen Mumford, Ltd. (U.K.), HTL-STREFA S.A. (Poland), B.
Braun Melsungen (Germany), Terumo Corporation (Japan), UltiMed, Inc. (U.S.), Allison Medical, Inc. (U.S.), and Artsana S.p.a.
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Pen needles market, based on needle length, is segmented into 4mm, 5mm, 6mm, 8mm, 10mm, and 12mm. 8mm needle length segment is expected to account for largest share of market in 2016.
However, pen needles with 4mm length are expected to grow at highest CAGR in market, by needle length. Growth in this segment can be attributed to increasing adoption of pen needles of shorter length and technological advancements in 4mm pen needles.