Asia Pacific Lancet and Pen Needles Market Scenario Growth Accordance to the Key Players Novo Nordisk A/S, Terumo Corporation, Owen Mumford Ltd. Etc.

Asia Pacific Lancet and Pen Needles Market - Key Players

Some of the key players in the Asia Pacific lancet and pen needles market are BD. (U.S.), Novo Nordisk A/S (Europe), Ypsomed (Europe), B. Braun Melsungen AG (Europe), HTL-STREFA (Europe), Terumo Corporation (Asia Pacific), Artsana S.p.A. (Europe), Owen Mumford Ltd. (Europe), and others.

Asia Pacific Lancet and Pen Needles Market - Segmentation

The Asia Pacific lancet and pen needles market is segmented on the basis of therapy, gauge, needle length, and end users.

On the basis of the therapy, the market is segmented into insulin, glucagon-like peptide-1 (GLP-1), growth hormones, and others.

On the basis of the gauge, the market is categorized into 17/18G, 21G, 23G, and others.

On the basis of the needle length, the market is segmented into 4mm, 8mm, 12mm, and others.

On the basis of end users, the market is segmented into hospitals & clinics, medical institutions & research organizations, and others.

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Asia Pacific Lancet and Pen Needles Market - Insights

Asia Pacific (APAC) Market of the Lancet And Pen Needles Market is showing a promising sign of growth by 6.5% CAGR. Lancet and pen needles have significant use in the blood-based diagnosis, monitoring, and medication of diseases like diabetes and osteoporosis. Market Research Future’s (MRFR) report on the lancet and pen needles market includes factors such as increasing geriatric population in the region and preference to invest more in healthcare, along with favorable government policies as compelling drivers that can steer the lancet and pen needles market forward.

However, the pin needs removal after a single use and its cost is comparatively higher than insulin vials which can impede the regular lancet and pen needles market growth speed during the forecast period.

Lancet and Pen Needles Market - Intended Audience

Pharmaceutical companies
Biotechnological institutes
Government and Private Laboratories
Research and Development (R&D) Companies
Medical Research Laboratories
Market Research and Consulting Service Providers

Asia Pacific Lancet and Pen Needles Market - Regional Analysis

On the regional basis, Asia Pacific is segmented into Japan, India, China, the Republic of Korea, Australia, and the Rest of Asia Pacific.

Japan holds a major share of the market followed by the Republic of Korea and Australia owing to the well-developed healthcare sector and high per capita healthcare expenditure. In 2014, according to the Statistics Bureau, Japan’s total medical care expenditure was about 11.20% of the national income, which accounted for USD 0.37 trillion. Additionally, favorable governmental policies boost the market growth in these regions.

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China and India have a growing market due to huge population base, increasing demand for the better-quality products, rapidly changing the economy, increasing healthcare expenditure, and rising number of pharmaceutical & biotechnological companies. Moreover, increasing number of healthcare organizations like a hospital, the private research institute has led to increasing in the market in India. Rest of Asia Pacific holds the least share of the market.

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