The “Pen Needles Market by Type (Standard and Safety), by Needle Length (4mm, 5mm, 6mm, 8mm, 10mm, and 12mm), by Therapy (Insulin, Glucagon-like peptide, Growth Hormones) - Analysis & Global Forecast to 2019”analyzes and studies the major market drivers, threats, opportunities, and challenges.
This report studies the global pen needles market for the forecast period of 2014 to 2019.This market is expected to reach $2,105 million by 2019 from$1,283 million in 2014, and is poised to grow at a CAGR of 10.4% during the forecast period.
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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.
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.
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.
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.
Table of Content
Pen Needles Market, By Type
Pen Needles Market, By Length
Pen Needles Market, By Therapy
Pen Needles Market, By Geography
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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. However, poor reimbursement structure in developing countries, rising incidents of needle stick injuries (NSIs), and threats involved in reuse of pen needles are hindering the market growth.
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