Pen Needles Market | Leading Industry Players are Becton, Dickinson and Company, Novo Nordisk A/S, and Ypsomed Holding AG, B. Braun Melsungen AG, HTL-STREFA S.A, Terumo Corporation, and Owen Mumford.

The report "Pen Needles Market by Type (Standard Pen Needles and Safety Pen Needles), Needle Length (4mm, 5mm, 6mm, 8mm, 10mm, 12mm), Therapy (Insulin, GLP-1, Growth Hormone), Mode of Purchase (Retail, Non-Retail) - Global Forecast to 2024", is expected to reach USD 1.8 billion by 2024 from an estimated USD 1.1 billion in 2019, at a CAGR of 10.8% during the forecast period (2019–2024).

Growth in the pen needles market is mainly driven by factors such as the growing prevalence of chronic diseases and the favorable reimbursement scenario in selected countries. The growing preference for biosimilar drugs is another factor providing a wide range of growth opportunities for key players in this market.

Browse 87 market data Tables and 46 Figures spread through 143 Pages and in-depth TOC on "Pen Needles Market"
View PDF here - https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=75948613&utm_source=OpenPR&utm_medium=Paid

The standard pen needles segment is expected to account for the largest share of the market in 2018
On the basis of type, the market is segmented into standard and safety pen needles. In 2018, the standard pen needles segment is expected to account for the largest share of the pen needles market. Growth in this market is attributed to the low cost of standard pen needles. The low cost of standard pen needles has also led to their widespread adoption in emerging economies such as China, India, and Brazil where the presence of safety pen needles is very low to almost negligible. On the other hand, as standard needles are not equipped with safety shields, the risk of accidental needlestick injuries with the use of these needles is high.

The insulin therapy segment is expected to grow at the highest CAGR during the forecast period
On the basis of therapy, the market is categorized into insulin therapy, glucagon-like peptide-1 (GLP-1) therapy, growth hormone therapy, and other therapies. The insulin therapy segment is expected to grow at the highest CAGR during the forecast period due to the high and growing diabetic population globally.

Request for Sample Report - https://www.marketsandmarkets.com/requestsampleNew.asp?id=75948613&utm_source=OpenPR&utm_medium=Paid

Since pen needles need to be replaced after every injection, the rising use of insulin pens is a major factor driving the demand for pen needles. Additionally, favorable reimbursement scenario for pen needles in several North American, European, and Asian countries is the other major factor driving the demand for pen needles.

North America dominated the pen needles market in 2018

North America is expected to dominate the pen needles market in 2018. The large share of the North American pen needles market can primarily be attributed growing diabetes prevalence and favorable reimbursement scenario for pen needles, federal initiatives to create awareness about injection techniques, increasing market penetration by leading players, and the development of improved pen needle technologies.

The key players in the pen needles market are Becton, Dickinson and Company (US), Novo Nordisk A/S (Denmark), Ypsomed Holding AG (Switzerland), B. Braun Melsungen AG (Germany), HTL-STREFA S.A. (Poland), Terumo Corporation (Japan), and Owen Mumford (UK).

Know more about Pen Needles Market - https://www.marketsandmarkets.com/Market-Reports/pen-needles-market-75948613.html?utm_source=OpenPR&utm_medium=Paid

Contact Us:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com

About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

This release was published on openPR.