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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 2019The 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 Synopsis1.1. Market Definition1.2. Research Scope & Premise1.3. Methodology1.4. Market Estimation TechniqueChapter 2. Executive Summary2.1. Summary Snapshot, 2019-2027Chapter 3. Indicative MetricsChapter 4. Pen Needles Market Segmentation & Impact Analysis4.1. Pen Needles Market Material Segmentation Analysis4.2. Industrial Outlook4.2.1. Market indicators analysis4.2.2. Market drivers analysis4.2.2.1. Growing number of diabetic population4.2.2.2. Introduction of technologically advanced products4.2.2.3. Comparative advantage of needle pens over syringes and vials4.2.3. Market restraints analysis4.2.3.1. Availability of alternative drug delivery methods4.2.3.2. Rising incidence of needlestick injuries4.3. Technological Insights4.4. Regulatory Framework4.5. ETOP Analysis4.6. Porter's Five Forces Analysis4.7. Competitive Metric Space Analysis4.8. Price trend AnalysisChapter 5. Pen Needles By Type Insights & Trends5.1. Type Dynamics & Market Share, 2019 & 20265.2. Standard pen needles5.3. Safety pen needlesChapter 6. Pen Needles By Length Insights & Trends6.1. Length Dynamics & Market Share, 2019 & 20266.2. 4mm6.3. 5mm6.4. 6mm6.5. 8mm6.6. 10mm6.7. 12mmChapter 7. Pen Needles By Therapy Insights & Trends7.1. Therapy Dynamics & Market Share, 2019 & 20267.2. Insulin therapy7.3. Glucagon-like peptide-1 (glp-1) therapy7.4. Growth hormone therapyChapter 8. Pen Needles By Usability Insights & Trends8.1. Usability Dynamics & Market Share, 2019 & 20268.2. Reusable Pens8.3. Disposable PensChapter 9. Pen Needles By Distribution Channel Insights & Trends9.1. Distribution Channel Dynamics & Market Share, 2019 & 20269.2. Retailers9.3. Non-RetailersChapter 10. Pen Needles By End Use Insights & Trends10.1. End Use Dynamics & Market Share, 2019 & 202610.2. Home healthcare10.3. OTC10.4. Clinics10.5. HospitalsChapter 11. Pen Needles Market Regional Outlook11.1. Pen Needles Market share By Region, 2019 & 2026Chapter 12. Competitive Landscape12.1. Market Revenue Share By Manufacturers12.2. Manufacturing Cost Breakdown Analysis12.3. Mergers & Acquisitions12.4. Market positioning12.5. Strategy Benchmarking12.6. Vendor LandscapeChapter 13. Company Profiles BectonDickinson Co.panyNovo Nordisk A/SYpsomed Holding AGB. Braun Melsungen AGHTL-Strefa S.A.Terumo CorporationOwen Mumford Ltd.Allison Medical Inc.Ultimed Inc.Arkray Inc., For more information about this report visit https://www.researchandmarkets.com/r/v21dkv Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research. CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900