Pen Needles Market Forecast to 2020 by Needle Length and Therapy (Insulin, Glucagon-like peptide, Growth Hormones)

Press Release   •   May 27, 2016 03:52 EDT

The pen needles market is highly competitive with a large number of players, including both big and small players, operating in this market. Needles are used by patients to deliver insulin daily to their body. Rise in the global diabetic population and the increasing need for safety injections have resulted in technological advancements in this field.

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The global pen needles market is segmented on the basis of type, needle length, therapy, and region. By type, the pen needles market is categorized into standard and safety needles. The standard pen needles segment is expected to account for the largest share of the market, by type. However, the safety needles segment is expected to grow at the fastest rate in the market, by type.

Premium Insights of Pen Needles Market

1 Global Pen Needles Market Size

2 Pen Needles Market, By Geography and Type

3 Geographical Snapshot

4 Life Cycle Analysis, By Geography

On the basis of needle length, the market is divided into 4mm, 5mm, 6mm, 8mm, 10mm, and 12mm. Pen needles with 6mm length is expected to account for the largest share of the market, by needle length. However, the needles with 4mm length are expected to grow at the fastest rate in the market, by needle length.

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The pen needles market, by therapy is segmented into insulin, Glucagon-like peptide (GLP), and growth hormones. Insulin therapy is the largest (2014) and fastest (2014-2019) growing market of the market, by therapy.

The key factors that are expected to spur the growth of this market are the rising global diabetic population, favorable reimbursement scenario in North America and Europe, technological advancements, and awareness campaigns and conferences to improve diabetes care and adoption market.

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

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However, poor reimbursement structure in developing countries, rising incidents of needlestick injuries (NSIs), and threats involved in reuse of pen needles are hindering the market growth.

The global pen needles market witnesses high competitive intensity as there are several big and many small firms with similar product offerings.These companies adopt various strategies (new product launches, acquisitions, and geographical expansions) to increase their market shares and to establish a strong foothold in the global market.

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