The global pen needles market is expected to reach a value of USD 4.8 billion by 2025. Rising prevalence of diabetes is the primary reason for the significant growth of pen needles market. According to the International Diabetes Federation (IDF), nearly 415 million people were suffering from diabetes in 2015. Such a high prevalence of diabetes across the globe has led to rising demand for pen needles. Patients suffering from diabetes commonly use injectable pen devices, which helps in easy drug delivery.
In addition, obesity is a significant cause of diabetes. Obese people often suffer from type 2 diabetes, which makes them one of the highest revenue contributors of the target market. Thus, people with type 2 diabetes are the common target population for companies manufacturing pen needles.
Rising technological advancements is also expected to drive the market growth. Pen needles allow comfort and easy mode of insulin delivery. These devices are technologically advanced and provide a superior alternative drug delivery method in comparison to syringes and vials. For instance, in 2013, Becton, Dickinson and Company launched BD Ultra-Fine Nano 4mm Pen Needles with EasyFlow Technology, which will enable diabetic patients with easy adherence of insulin therapy regimens.
- Becton, Dickinson and Company
- Novo Nordisk A/S
- Ypsomed Holding AG
- Owen Mumford, Ltd.
- HTL-STREFA S.A.
- B. Braun Melsungen
- Terumo Corporation
- UltiMed, Inc.
- Allison Medical, Inc.
Key Topics Covered:
1 Research Methodology
2 Executive Summary
3 Pen Needles Market Variables, Trends & Scope
4 Pen Needles: Product Estimates & Trend Analysis
5 Pen Needles: Needle Length Estimates & Trend Analysis
6 Pen Needles: Therapy Estimates & Trend Analysis
7 Pen Needles: Regional Estimates & Trend Analysis, by Product, Needle Length, Therapy
8 Competitive Landscape
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