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Pen Needles Market Growth: Insights and Projections

Pen Needles Market

Pen Needles Market size was valued at USD 1.67 Bn. in 2022 and the total Pen Needles revenue is expected to grow by 11.5 % from 2023 to 2029, reaching nearly USD 3.58 Bn.

Pen Needles Market Overview

The report provides comprehensive insights into the Pen Needles Market by covering all the major aspects. It includes a detailed analysis of the Pen Needles market at local, regional, and global levels. For the competitive analysis, the Pen Needles key competitors and new entrants are listed by various classifications, such as:

  • Region
  • Financial status
  • Revenue
  • Technological advancements adopted
  • Fierce marketing strategies
  • Mergers and acquisitions
  • Joint ventures
  • Product portfolio

SWOT analysis was used to identify the strengths and weaknesses of key players in the Pen Needles industry. PORTER and PESTLE analysis helps to understand the Pen Needles market from different perspectives, such as political, economical, and social.

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Pen Needles Market Report Scope and Research Methodology

The report provides comprehensive insights into the Pen Needles market by covering all the major aspects. It includes a detailed analysis of the Pen Needles market at local, regional, and global levels. For the competitive analysis, the Pen Needles key competitors and new entrants are listed by various classifications, including:

  • Region
  • Financial status
  • Revenue
  • Technological advancements adopted
  • Fierce marketing strategies
  • Mergers and acquisitions
  • Joint ventures
  • Product portfolio

SWOT analysis was used to identify the strengths and weaknesses of key players in the Pen Needles industry. PORTER and PESTLE analysis helps to understand the Pen Needles market from different perspectives, such as political, economical, and social. The bottom-up approach was used to estimate the regional and global Pen Needles market size.

Pen Needles Market Regional Insights

The report includes a detailed explanation of all the factors, market size, growth rate, and import and export in regions:

1)North America

2) Europe

3) Asia Pacific

4) Latin America

5) the Middle East, and Africa. 

Pen Needles Market Segmentation

Based on the product, More than 88.5% of all sales in 2022 came from the market segment for conventional pen needles, which dominated the market. The increase was attributed to diabetes individuals using these medications more often and in larger quantities. People with handiness problems frequently use these needles. These needles are not advised, nevertheless, as they make using pen needles less safe due to the considerable risk of needlestick injuries. As a result, their demand is anticipated to be quite low in the near future. Standard pen needles are used more commonly at home. Lack of basic training on how to use these devices correctly leads to incorrect dosages and the challenges that go along with them.

The length of the needle, The 8mm-sized segment, which accounted for the greatest percentage of more than 25.00% of the total revenue among the various needle lengths, led the market for pen needles in the world in 2022. These needles are administered to the majority of patients, even overweight people with the target ailment. Because of its advantages, such as safety, user convenience, and simplicity of disposal, 8mm needles are popular in home settings. The rise of the category is anticipated to be encouraged by a number of additional variables, including price and accessibility. The needles are easy and safe to dispose of and are less likely to result in a needlestick injury due to their larger size. Furthermore, they are recommended since they are easy to differentiate from other sharp trash.

Considering therapy Based on treatment, the worldwide market has been segmented into insulin, GLP-1, and growth hormone segments. More than 90% of the total revenue was generated by the market category for insulin therapy in 2022, which had the biggest market share. Throughout the projected period, the market is anticipated to expand profitably. People with Type 1 and Type 2 diabetes are becoming more and more aware of the advantages of self-administering insulin, which has led to this. GLP-1 treatment is also anticipated to emerge reasonably soon. This is as a consequence of its capacity to reduce type 2 diabetics’ blood glucose levels. GLP-1 therapy is thought to be a better alternative to insulin. Some of these drugs are often used once a week.

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Pen Needles Market Key Players

1. B. Braun (Germany)
2. KD Medical GmbH Hospital Products (Germany)
3. GlucoRx Ltd (UK)
4. Owen Mumford (UK)
5. HTL-STREFA S.A. (Poland)
6. VOGT MEDICAL (Ukraine)
7. Van Heek Medical (Netherlands)
8. Ypsomed Holding AG (Switzerland)
9. Novo Nordisk A/S (Denmark)
10. Rays SpA (Italy)
11. Terumo Corporation (Japan)
12. Nipro Corporation (Japan)
13. ARKRAY, Inc. (Japan)
14. Berpu Medical Technology Co., Ltd. (China)
15. Hindustan Syringes & Medical Devices Ltd (India)
16. Cipla Limited (India)
17. Becton, Dickinson and Company (US)
18. Allison Medical Inc (US)
19. AdvaCare Pharma (US)
20. UltiMed (US)

Key questions answered in the Automotive Relay Market are:

  • What is Pen Needles?
  • What is the expected Pen Needles market size by the end of the forecast period?
  • What are the recent industry trends that can be implemented to generate additional revenue streams for Pen Needles Market? 
  • Which factors are creating lucrative opportunities for the Pen Needles market growth?
  • How is the intervention from regulatory authority shaping the Pen Needles Market?
  • What growth strategies are the players considering to increase their presence in Pen Needles Market?
  • What is the Pen Needles market size of the dominating region?

Key Offerings:

  • A detailed Market Overview
  • Market Share, Size & Forecast by Revenue | 2023−2029
  • Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
  • Market Segmentation – A detailed analysis by segments with their sub-segments and Region 
  • Competitive Landscape – Top Key Players and Other Prominent Players

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