Pen Needles Market worth 2.81 Billion USD by 2021

The report "Pen Needles Market by Type (Standard Pen Needles, Safety Pen Needles), Needle Length (4mm, 5mm, 6mm, 8mm, 10mm, 12mm), Therapy (Insulin, GLP-1, Growth Hormone), Mode of Purchase (Retail, Non-Retail) - Trends & Global Forecasts to 2021", This report studies the pen needles market for the forecast period of 2016 to 2021. This market is expected to reach USD 2.81 Billion by 2021 from USD 1.65 Billion in 2016, growing at a CAGR of 11.2%.

Browse 102 market data Tables and 53 Figures spread through 185 Pages and in-depth TOC on "Pen Needles Market"
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Growth in the market can be attributed to the favorable reimbursement environment and government support in selected countries; advantages of insulin pens over syringes and vials; technological advancements to minimize pain and anxiety; growing diabetic population; and conferences, meetings, and congresses that create pen needle awareness. On the other hand, the resistance against switching from conventional syringes and vials to advanced pens and pen needles is likely to challenge the market growth during the forecast period.

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In the coming years, Europe is expected to account for the largest share of the pen needles market. Factors such as EU’s Directive on the prevention of sharp injuries in hospitals and the healthcare sector; regulatory frameworks to minimize needlestick injuries & boost the use of safety-engineered devices; high diabetes prevalence and favorable reimbursement for pen needles in Germany; activities to pool funds for diabetes care & research in the U.K.; high insurance coverage and increase in aging population and affordability in France; awareness campaigns for diabetes in Italy; large diabetic population and regulations mandating the use of safety pen needles in Spain; and high diabetes prevalence in Russia, Poland, Romania, and Ukraine are driving the growth of the market in Europe.

However, the Asian region is expected to grow at the highest CAGR during the forecast period. The high growth of this region can be attributed to the rapidly growing diabetic population, increasing awareness, and rising adoption of pen devices for insulin delivery.

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Prominent players in the global pen needles market include Becton, Dickinson and Company (U.S.), Novo Nordisk A/S (Denmark), Ypsomed Holding AG (Switzerland), Owen Mumford, Ltd. (U.K.), HTL-STREFA S.A. (Poland), B. Braun Melsungen (Germany), Terumo Corporation (Japan), UltiMed, Inc. (U.S.), Allison Medical, Inc. (U.S.), and Artsana S.p.a. (Italy).

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