Pen Needle Market 2018 Hefty Growth Seen in Healthcare Industry Along with Terumo Corporation, Ulti Med, Inc., Allison Medical, Inc., Ypsomed Holding AG, Owen Mumford, Ltd., Becton, Dickinson and Company, Novo Nordisk A/S, HTL-STREFA S.A., and Artsana S.p
Industry Trend Analysis:
Global market for pen needle is projected to be around $4.9 billion in 2025. Rising incidence of diabetes worldwide is the major factor driving the market. According to International Diabetes Federation (IFD), approximately 415 million people were suffering from diabetes in 2015. Such a high occurrence of diabetes within people is the major factor that contributes to the market growth. In addition, increasing obesity and related disorders among population is another important factor for the market growth. Such population forms target customer for companies manufacturing pen needles.
Market is expected to grow further by technological advances and up gradation. Pen needle allow comfort and easy mode of insulin delivery which is one of the strong drivers for market growth. These devices are technologically advanced and provide superior alternative drug injection method in comparison to traditional syringes and vials.
Major players in the market are Terumo Corporation, Ulti Med, Inc., Allison Medical, Inc., Ypsomed Holding AG, Owen Mumford, Ltd., Becton, Dickinson and Company, Novo Nordisk A/S, HTL-STREFA S.A., and Artsana S.p.a. and B. Braun Melsungen. These players are highly focused on developing new products, improving existing products, expansions, mergers and acquisitions in order to expand their customer base and increase market share.
The pen needle market has witnessed fast growth due to technological up gradation and growing demand for safe, pain free needles and the need to minimize needle related injuries. Innovative products such as Easy Flow technology with 5mm compact needle for more comfort and digital pen needles with visual displays will be seen dominating the market in next few years.
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Pen needle market is segmented on following basis:
By Type: Safety Pen Needles and Standard Pen Needles
By Needle Length:
By Therapy: Glucagon-like-Peptide-1 (GLP-1), Insulin and Growth Hormone
By Mode of Purchase: Retail and Non-retail
By Region: North America: (U.S, Canada & Mexico), Europe: (Germany, France, UK, Italy, Spain & Rest of Europe), Asia-Pacific: (Japan, China, Australia, India, South Korea, Rest of Asia-Pacific) and Rest of the World: (Brazil, South Africa, Saudi Arabia, Turkey, United Arab Emirates & Others)
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Regional Outlook and Trend Analysis:
Europe is expected to lead pen needle market with largest share of the overall market in 2016,followed by North America, Asia-Pacific and rest of the world. U.S. leads pen needle market in North American. This is attributed to increasing diabetic population, improving regulatory framework to minimize needle related injuries, increased utilization of engineered devices, funding for diabetes research, awareness campaigns and patients looking for easy methods for insulin delivery. Despite Europe having largest market share, it is expected to grow at slow rate as market is highly saturated. Asia-Pacific is projected to show high growth, due to increase ability of patients to pay for better healthcare facilities, growing awareness level and government initiatives to provide improved health care services will drive the market growth.
Major Table of Contents:
Chapter 1. Introduction
1.1. Report Description
1.2. Research Methodology
1.2.1. Secondary Research
1.2.2. Primary Research
Chapter 2. Executive Summary
2.1. Key Highlights
Chapter 3. Market Overview
3.1.1. Market Definition
3.1.2. Market Segmentation
3.2. Market Share Analysis
3.3. Market Dynamics
18.104.22.168. High Occurrence of Diabetes
22.214.171.124. Increasing Obesity
126.96.36.199. Technological Advancements
188.8.131.52. Availability of Alternative Drug Delivery Methods
184.108.40.206. Emerging Market toOffer Lucrative Growth Opportunities
3.4. Industry Trends
3.5. Reimbursement Scenario
Chapter 4. Pen Needle Market, By Type
4.2. Pen Needle Market Assessment and Forecast, By Type, 2016-2025
4.3. Standard Pen Needles
4.3.1. Market Assessment and Forecast, By Region, 2016-2025 ($Million)
4.4. Safety Pen Needles
4.4.1. Market Assessment and Forecast, By Region, 2016-2025 ($Million)
Chapter 5. Pen Needle Market, By Needle Length
5.2. Pen Needle Market Assessment and Forecast, By Needle Length, 2016-2025
5.3. 4 mm
5.3.1. Market Assessment and Forecast, By Region, 2016-2025 ($Million)
5.4. 5 mm
5.4.1. Market Assessment and Forecast, By Region, 2016-2025 ($Million)
5.5. 6 mm
5.5.1. Market Assessment and Forecast, By Region, 2016-2025 ($Million)
5.6. 8 mm
5.6.1. Market Assessment and Forecast, By Region, 2016-2025 ($Million)
5.7. 10 mm
5.7.1. Market Assessment and Forecast, By Region, 2016-2025 ($Million)
5.8. 10 mm
5.8.1. Market Assessment and Forecast, By Region, 2016-2025 ($Million)
…Read Full Table of Contents
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