Pen Needles Market : Huge Demand and Future Scope for Revenue by 2025 |Medtronic, BD Medical, Owen Mumford, Boston Scientific

Pen needles are intended to be used with injection pens for the subcutaneous injection of insulin. The increasing prevalence of diabetes has led to rising demand for pen needles worldwide. According to the International Diabetes Federation (IDF), nearly 425 million adults were suffering from diabetes in 2017. And these numbers will rise to 629 million by 2045. In addition to this, approximately 79% of adults with diabetes were living in underdeveloped and developing countries. The advent of advanced technology, innovative design and state-of-the-art manufacturing offers a lucrative opportunity in the growth of the very market According to AMA, the Global Pen Needles market is expected to see growth rate of 10.8% and may see market size of USD3.9 Billion by 2024.
Key players in the global Pen Needles market include;
Medtronic (Ireland), BD Medical (United States), Ypsomed Holding AG (Switzerland), B. Braun Melsungen AG (Germany), Terumo Corporation (Japan), Owen Mumford (United Kingdom), Boston Scientific (United States), Smith Medical (United States), Argon Medical Devices (United States), Novo Nordisk A/S (Denmark), NIPRO Medical (United States) and Cook Medical (United States).
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The global Pen Needles market focuses on encompassing major statistical evidence for the Pen Needles industry as it offers our readers a value addition on guiding them in encountering the obstacles surrounding the market. A comprehensive addition of several factors such as global distribution, manufacturers, market size, and market factors that affect the global contributions are reported in the study. In addition the Pen Needles study also shifts its attention with an in-depth competitive landscape, defined growth opportunities, market share coupled with product type and applications, key companies responsible for the production, and utilized strategies are also marked.
The Pen Needles Market segments and Market Data Break Down are illuminated below:
by Type (Safety Pen Needles, Standard Pen Needles), Application (Hospitals, Clinics, Ambulatory Surgical Centres, Other), Therapy (Glucagon-Like Peptide-1 (GLP-1) Therapy, Insulin Therapy, Other), Length (4mm, 5mm, 6mm, 8mm, 10mm, 12mm), Sales Channel (Retail, Non-Retail)
Market Drivers
• Increasing Number of Geriatric Population and Diabetes Patients in Developed Economies
• Offers Comfort and Easy Mode of Insulin Delivery

Market Trend
• Top Players Are Continuously Focus on Innovative Design and State-Of-The-Art Manufacturing

Restraints
• Dearth of Endocrinologists Specialized in Treating Hormonal Imbalances and Conditions, Such as Diabetes, Thyroid Disorders, and Others

Opportunities
• High Prevalence of Diabetes and Rise in Awareness Among the Diabetic Population for Easy Delivery of Drugs
• Increasing Reimbursements of These Products in Developing Nations Such as China, India, and Brazil Among Others

The Pen Needles industry report further exhibits a pattern of analyzing previous data sources gathered from reliable sources and set a precedent growth trajectory for the Pen Needles market. The report also focuses on a comprehensive market revenue streams along with growth patterns, Local reforms, COVID Impact analysis with focused approach on market trends, and the overall growth of the market.
The study encompasses a variety of analytical resources such as SWOT analysis and Porters Five Forces analysis coupled with primary and secondary research methodologies. It covers all the bases surrounding the Pen Needles industry as it explores the competitive nature of the market complete with a regional analysis.
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Region Included are: North America, Europe, Asia Pacific, Oceania, South America, Middle East & Africa
Country Level Break-Up: United States, Canada, Mexico, Brazil, Argentina, Colombia, Chile, South Africa, Nigeria, Tunisia, Morocco, Germany, United Kingdom (UK), the Netherlands, Spain, Italy, Belgium, Austria, Turkey, Russia, France, Poland, Israel, United Arab Emirates, Qatar, Saudi Arabia, China, Japan, Taiwan, South Korea, Singapore, India, Australia and New Zealand etc.
Data Sources & Methodology
The primary sources involves the industry experts from the Global Pen Needles Market including the management organizations, processing organizations, analytics service providers of the industry’s value chain. All primary sources were interviewed to gather and authenticate qualitative & quantitative information and determine the future prospects.
In the extensive primary research process undertaken for this study, the primary sources – Postal Surveys, telephone, Online & Face-to-Face Survey were considered to obtain and verify both qualitative and quantitative aspects of this research study. When it comes to secondary sources Company's Annual reports, press Releases, Websites, Investor Presentation, Conference Call transcripts, Webinar, Journals, Regulators, National Customs and Industry Associations were given primary weight-age.
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Current Scenario Analysis for Decision Framework
Key Strategic Developments in Pen Needles Market:
The research includes the key strategic activities such as Research & Development (R&D) initiatives, Merger & Acquisition (M&A) completed, agreements, new launches, collaborations, partnerships & (JV) Joint ventures, and regional growth of the key competitors operating in the market at global and regional scale to overcome current slowdown due to COVID-19.
Key Market Features in Global Pen Needles Market
The report highlights Pen Needles market features, including revenue size, weighted average regional price, capacity utilization rate, production rate, gross margins, consumption, import & export, demand & supply, cost bench-marking in Pen Needles market share and annualized growth rate (Y-o-Y) and Periodic CAGR.
Extracts from Table of Contents
Global Pen Needles Market Research Report
Chapter 1 Global Pen Needles Market Overview
Chapter 2 Global Economic Impact on Industry
Chapter 3 Global Market Competition by Manufacturers
Chapter 4 Global Revenue (Value, Volume*) by Region
Chapter 5 Global Supplies (Production), Consumption, Export, Import by Regions
Chapter 6 Global Revenue (Value, Volume*), Price* Trend by Type
Chapter 7 Global Market Analysis by Application
………………….continued
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