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Pen Needles Market Insights by Performance Analysis 2021: Offers Research on Sales, Revenue, Price, Gross Margin and Global Forecast Report 2027
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Market Overview
The demand for Pen needles is increasing on account of the rising prevalence of Diabetes, Obesity, the rise in the geriatric population, high preference for pen needles over syringes and vials, rising awareness regarding minimally invasive procedures, and favorable reimbursement policies in selected countries. As per the World Population Ageing Report, the global population aged 60 years or over numbered 962 million in 2017. The number of older persons is expected to double again by 2050 when it is projected to reach nearly 2.1 billion.
COVID-19 Impact
During the COVID-19 pandemic, every healthcare industry has been affected globally and a positive effect can be seen on the Pen Needles market. The rise of the COVID-19 has increased the demand for Pen Needles. Type 2 diabetes, CVD, and hypertension considerably increase the risk for hospitalization and death in COVID-19 patients. Hence, more focus is being given to the patients suffering from these diseases. The adoption of insulin pumps, insulin pens, and continuous glucose monitoring devices has been increased for close monitoring and optimal management of diabetes.
Global Pen Needles Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Type, the market is primarily bifurcated into
• Standard Pen Needles
• Safety Pen Needles
The Safety Pen Needles sub-segment dominated the Global Pen Needles Market and is expected to grow at a noteworthy CAGR by the year 2027.
By Length, the market is primarily segmented into
• 4mm
• 5mm
• 6mm
• 8mm
• 10mm
• 12mm
Amongst Length, the 8mm accounted for the largest share in 2020 and is expected to grow at a significant CAGR during the forecast period 2021-2027.
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By Therapy, the market is primarily segmented into
• Glucagon-like Peptides
• Insulin
• Growth Hormones
Amongst Therapy, the Insulin segment accounted for the largest share in 2020 and is expected to grow at a significant CAGR during the forecast period 2021-2027.
By Mode of Purchase, the market is primarily bifurcated into
• Retail
• Non-Retail
The Retail sub-segment dominated the global Pen Needles Market and is expected to grow at a noteworthy CAGR by the year 2027.
Pen Needles Market Geographical Segmentation Includes:
• North America (United States, Canada, Rest of North America)
• Europe (Germany, United Kingdom, France, Spain, and Rest of Europe)
• Asia-Pacific (China, Japan, India, Australia, and Rest of Asia-Pacific)
• Rest of the World
North America is dominating the Pen Needles Market in 2020 and is anticipated to maintain its dominance during the forecast period.
The major players targeting the market includes
• Allinson Medical, Inc.
• Artsana S.p.a
• B. Braun Melsungen AG
• Becton Dickinson and Company
• HTL Strefa S.A.
• Novo Nordisk
• Owen Mumford Ltd.
• Terumo Corporation
• Ultimed Inc.
• Ypsomed Holding AG
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Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Pen Needles Market.
The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the Pen Needles Market?
• Which factors are influencing the Pen Needles Market over the forecast period?
• What are the global challenges, threats, and risks in the Pen Needles Market?
• Which factors are propelling and restraining the Pen Needles Market?
• What are the demanding global regions of the Pen Needles Market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know If you have any custom needs.
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About UnivDatos Market Insights
UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.
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