Global Pen Needles Market Report 2020-2027

Dublin, Jan. 26, 2021 (GLOBE NEWSWIRE) -- The "Pen Needles Market By Type, By Length, By Therapy, By Usability, By Distribution Channel, And By End Use, By Region, Segment Forecasts To 2027" report has been added to ResearchAndMarkets.com's offering.

The global pen needles market is forecast to reach USD 2.66 Billion by 2027, from USD 1.53 Billion in 2019

The increasing elderly populations, rising incidences of obesity-related diabetes, and a favorable reimbursement scenario are the key factors leading to the burgeoning growth in market demand.

Pen needles are used for drug administration for many diseases and are used by both healthcare professionals and patients themselves. They have become popularly accepted with the advancements in therapy and a supportive reimbursement structure in many nations.

According to the World Health Organization (WHO), from 2015 to 2050, the aged population across the globe will be rise from 12% to 22% of the total global population. Owing to this, the incidence of target diseases such as chronic diseases and cancer is expected to grow and, in return, will boost the demand.

An increase in healthcare expenditure across the globe also supports the adoption of user-friendly technologies. According to the American Diabetes Association, the annual healthcare cost in the U.S. increased by 26% during the last five years due to increased diabetes incidences.

North America holds the largest share as of 2019 because of an increasing incidence of diabetes in the region. Government initiatives to spread awareness about the product along with favorable funding from many private players is leading the market growth.

Companies adopt both organic and inorganic growth strategies in order to ensure a steady pattern of growth. Acquisitions and mergers are commonly witnessed in the industry. In December 2017, BD acquired Bard to make use of the latter's product portfolio and innovation pipeline.

Report Highlights

• The standard pen needles are used by healthcare professionals as well as individual patients for injecting a variety of medications into the body. These pens are most commonly used by people with diabetes who often require multiple dosages of insulin injections daily.

• 4mm pen needles provide equal glycaemic control when compared to longer needles. 4mm pen needles have been shown to cause less pain as compared to longer needles, reduce any anxiety associated with injection, and provide an overall improved experience, which helps people with diabetes adhere more to an insulin injectable therapy program and also improves outcomes.

• The fact that insulin cannot be consumed orally makes insulin pen an integral part of insulin therapy. The underlying reason for the increasing popularity of insulin pens is that it is accurate, simple, and convenient in terms of usage compared to syringe and vial.

• The retailer segment is primarily driven by consumers falling under the developing regions cohort. The rising cases of diabetes are a major driving factor for manufacturers. Companies can tap into these unique market characteristics by building a robust distribution system based on retail sales.

• Reusable pens contain a replaceable insulin cartridge. Once the cartridge is empty, a person discards it and installs a new one. A patient needs to replace the disposable needle after each shot of insulin. Reusable pens, with proper care, can last for several years.

• The reason healthcare providers prescribe care users medications that can be injected with the help of an injection pen is, the patient can inject the medicine himself/herself with the help of this medical device. The ability of care users to take medicine on their own and incorporate it in the in-home healthcare setting that results in enhanced care user's adherence to care regimes that improve their quality of life and minimize healthcare costs.

• Key participants include Becton, Dickinson and Company, Novo Nordisk A/S, Ypsomed Holding AG, B. Braun Melsungen AG, HTL-Strefa S.A., Terumo Corporation, Owen Mumford Ltd., Allison Medical Inc., Ultimed, Inc., and Arkray, Inc., among others.

Key Topics Covered:

Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique

Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027

Chapter 3. Indicative Metrics

Chapter 4. Pen Needles Market Segmentation & Impact Analysis
4.1. Pen Needles Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Growing number of diabetic population
4.2.2.2. Introduction of technologically advanced products
4.2.2.3. Comparative advantage of needle pens over syringes and vials
4.2.3. Market restraints analysis
4.2.3.1. Availability of alternative drug delivery methods
4.2.3.2. Rising incidence of needlestick injuries
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter's Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis

Chapter 5. Pen Needles By Type Insights & Trends
5.1. Type Dynamics & Market Share, 2019 & 2026
5.2. Standard pen needles
5.3. Safety pen needles

Chapter 6. Pen Needles By Length Insights & Trends
6.1. Length Dynamics & Market Share, 2019 & 2026
6.2. 4mm
6.3. 5mm
6.4. 6mm
6.5. 8mm
6.6. 10mm
6.7. 12mm

Chapter 7. Pen Needles By Therapy Insights & Trends
7.1. Therapy Dynamics & Market Share, 2019 & 2026
7.2. Insulin therapy
7.3. Glucagon-like peptide-1 (glp-1) therapy
7.4. Growth hormone therapy

Chapter 8. Pen Needles By Usability Insights & Trends
8.1. Usability Dynamics & Market Share, 2019 & 2026
8.2. Reusable Pens
8.3. Disposable Pens

Chapter 9. Pen Needles By Distribution Channel Insights & Trends
9.1. Distribution Channel Dynamics & Market Share, 2019 & 2026
9.2. Retailers
9.3. Non-Retailers

Chapter 10. Pen Needles By End Use Insights & Trends
10.1. End Use Dynamics & Market Share, 2019 & 2026
10.2. Home healthcare
10.3. OTC
10.4. Clinics
10.5. Hospitals

Chapter 11. Pen Needles Market Regional Outlook
11.1. Pen Needles Market share By Region, 2019 & 2026

Chapter 12. Competitive Landscape
12.1. Market Revenue Share By Manufacturers
12.2. Manufacturing Cost Breakdown Analysis
12.3. Mergers & Acquisitions
12.4. Market positioning
12.5. Strategy Benchmarking
12.6. Vendor Landscape

Chapter 13. Company Profiles

• Becton

• Dickinson Co.pany

• Novo Nordisk A/S

• Ypsomed Holding AG

• B. Braun Melsungen AG

• HTL-Strefa S.A.

• Terumo Corporation

• Owen Mumford Ltd.

• Allison Medical Inc.

• Ultimed Inc.

• Arkray Inc.,

For more information about this report visit https://www.researchandmarkets.com/r/v21dkv

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