Global Pen Needles market to witness remarkable growth by 2022 :Top keyplayers are Novo Nordisk A/S, Artsana S.P.A, HTL- Strefa S.A, Terumo Corporation, Allison Medical Inc., Ypsomed Holdings A.G and UltiMed Inc

Description

Pen Needles are devices which when used with injection pens can inject medications into the human body. The most common use of pen needles is to deliver insulin. The major advantage of pen needles is that they facilitate easy delivery of drugs to the patient. Pen needles are used with insulin pens due to their accuracy in dosage delivery. Advancements in technology is expected to boost the market for pen needles. Recent developments in the pen needle market are new products with respect to the needle length.

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Market Dynamics

Some of the factors driving the growth of the global pen needles market are rising population of diabetics, favourable regulations by governments, low cost, reimbursement policies and increasing awareness. Few of the constraints for the growth of this market are availability of alternate techniques like oral administration, re-use of pen needles, lack of reimbursement policies in some countries, mental stigma and complications for some patients around use of needles and hesitation to switch to new methods. There are many large and small companies fighting for market share and foothold over the global pen needles market and this resulted in very high competitiveness in this market.

Market Segmentation

The Global Pen Needles market is segmented on the basis of type of needle, length of needle, type of therapy, mode of purchase and geography.

Segmentation by Type of Needle
Standard Needles
Safety Needles
Standard needles hold the major market share mainly due to them being cost-effective. Safety needles segment is expected to show the bigger growth due to the recent technological advancements.

Segmentation by Length of Needle
4 mm
5 mm
6 mm
8 mm
10 mm
12 mm
8 mm needles have the higher market share mostly due to the convenience they offer as compared to others. 6 mm needles are expected to post the highest growth in this segment.

Segmentation by Type of Therapy
Insulin
Glucagon like peptides
Growth Hormones
Insulin therapy holds a huge market share owing to factors like increasing prevalence of diabetes and rising awareness about self- administration among diabetes patients.

Segmentation by Mode of Purchase
Retail
Non Retail
Retail market dominates this segment with an overwhelming market share.

Segmentation by Geography
North America
Europe
Asia-Pacific
Middle East and Africa
South America

Europe accounts for the majority of the market share, with North America closely following it. This is mostly down to higher prevalence of diabetes in these markets. Asia-Pacific is expected to post the highest growth due to increasing awareness among diabetes patients.

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Regional/ Geographic Analysis

Europe leads the way and is predicted to grow steadily owing to European Union's directive to reduce sharp injuries in the hospitals and the healthcare sector at large. Some country specific factors like high diabetes prevalence and reimbursement policies in Germany, funding for diabetes care and research in U.K, high insurance coverage and rising aging population in France, awareness campaigns in Italy and regulations making mandatory the use of pen needles in Spain are expected to bolster growth in Europe. Asia Pacific is expected to grow the fastest mainly due to the rising awareness, growing diabetic patients and increase in adoption of pen needles.

Key Players

Some of the major players in the global pen needles market are Becton Dickinson and Company, Owen Mumford Ltd., Novo Nordisk A/S, Artsana S.P.A, HTL- Strefa S.A, Terumo Corporation, Allison Medical Inc., Ypsomed Holdings A.G and UltiMed Inc.

Report ContentsRegional AnalysisReport Highlights

Market segments
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market - Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players

North America
US and Canada

Latin America
Mexico, Brazil, Argentina and Rest of Latin America

Western Europe
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe

Eastern Europe
Russia
Poland
Rest of Eastern Europe

Asia Pacific
China
India
Japan
Australia and New Zealand
Rest of Asia Pacific

Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
South Africa
North Africa
Rest of Middle East and Africa

This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.

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Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
Market Segmentation
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage

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