Pen Needles Market 2019 to grow in future by size, developments, trends by 2029

Pen Needles Market Snapshot:

The global pen needles market was valued at USD 1100 million in 2019 and is expected to grow at a 10.8% CAGR during the forecast period.

Pen needles are needles of smaller size and thinner dimensions that are most commonly attached to syringes prefilled with therapeutic molecules. In general, these needles fitted syringes are coupled with injectors pens that act as an excellent drug delivery model. More recently, these needles have gained popularity and hence extensive adoption. This is owing to the fact that these acts as a major alternative to the conventional vial and syringe method of therapy via injections.

Additionally, the pen needles allow patients to self-inject therapeutics as per need, which is very convenient for people who require scheduled injections of therapy, such as diabetic patients. Further, these needles are also extensively used to deliver therapy for other common lifestyle diseases such as diabetes, obesity, CVDs, etc.

The rising prevalence of chronic lifestyle disorders has driven the global market significantly. For instance, diabetes, Cardiovascular diseases have been major diseases that have burdened the healthcare network across continents. Although most of these diseases are incurable, however, management and therapy for the same are available in the market. Most of these therapies use injection as a mode of delivery of molecules inside the body. Thus, with the growing demand for these therapies in the market, pen needles used as the most demanded mode of delivery have witnessed a generous market penetration.

Further, Pen Needles has major advantages as a mode of therapy that promotes market establishment and penetration. For example, pen needles are used for the subcutaneous injection in combination with injector pens. This offers quick, convenient, and easy handling for users without medical training. Additionally, self-injectables, as such, takes away major hustle from patients who are prescribed with scheduled injections of therapy.

Pen needles are majorly attached to syringes prefilled with dosage amount and concentration that guarantees accurate dosage to patients who opt for self-administration. This builds up confidence among end-users that directed influences the market growth projectile.

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The Major Prominent Players Covered in this Report:
Becton, Dickinson and Company (The U.S.), Novo Nordisk A/S (Denmark), Ypsomed Holding AG (Switzerland), Braun Melsungen AG (Germany), HTL-STREFA S.A. (Poland), Terumo Corporation (Japan), p.a (Italy), Owen Mumford Ltd. (U.K.), Allison Medical, Inc. (The U.S.), UltiMed, Inc. (The U.S.), ARKRAY, Inc. (Japan), GlucoRx (U.K.) & More.

The Pen Needles Market report also covers a detailed comprehension of the major geographies present in the market along with the key segments and sub-segments. The report focuses on regional development status, which includes the market size, share, and volume. Each section of the report reveals critical information about the global Pen Needles market that could be used to ensure strong growth in the coming years. Our unique blend of primary and secondary research techniques helped us to acknowledge hidden business opportunities available within the global Pen Needles market, besides collecting significant insights of market participants and obtaining precise market data. It includes several research studies like manufacturing analysis, absolute dollar opportunity, pricing analysis, company profiling, production and consumption analysis, and market dynamics.

By Product Type
Standard Pen Needles
Safety Pen Needles

By Needle Length
4mm
5mm
6mm
8mm
10mm
12mm

By Therapy Type
Insulin
GLP-1
Growth Hormone Therapy
Obesity
Others

By Usability
Reusable Pens
Disposable Pens

By Mode of Distribution
Retail
Non-retail

Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for Pen Needles in the APAC Region
Asia-Pacific region is anticipated to hold the largest market share in the global Pen Needles market during the forecast period 2019-2029. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region. India is one of the largest producers of Pen Needles and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of Pen Needles. The favorable climatic conditions and growth of agricultural inputs and allied services like cold storage and warehousing in India are prompting higher production.

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Key Questions Answered in The Report:
What will the Pen Needles market growth rate?
What are the key factors driving the global Pen Needles market?
Who are the key manufacturers in the Pen Needles market space?
What are the market opportunities, market risk, and market overview of the Pen Needles market?
What are sales, revenue, and price analysis of top manufacturers of the Pen Needles market?
Who are the distributors, traders, and dealers of the Pen Needles market?
What are the market opportunities and threats faced by the vendors in the global Steerable Medical Devices Industry?
What are sales, revenue, and price analysis by types and applications of the Pen Needles Industry?
What are sales, revenue, and price analysis by regions of Pen Needles industry?
What are the driving factors contributing to market growth during the short, medium, and long term?

Key Pen Needles Market Trends:
- The report identifies, determines, and forecasts the Global Pen Needles Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Pen Needles Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is Expected to Drive the Growth
- Rising Adoption of Market Segments in this Growth
- North American, Europe is Expected to Witness Higher Growth Rate over the Forecast Period
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Pen Needles Market.

Key Highlights -
The global pen needles market was valued at USD 1100 million in 2019 and is expected to grow at 10.8% CAGR during the forecast period.
The standard pen needles segment held the largest share of the market and is the most dominating segment in terms of usage.
The insulin therapy segment is expected to grow at a higher CAGR during the forecast period.
The American regional market holds the biggest market share in the global market.
APAC regional market is anticipated to witness attractive growth and achieve fast-paced growth in the global scenario.

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