The global pen needles market was valued at USD 1,450.0 million in 2019 and is expected to grow at a CAGR of 11.7% over the forecast period. The global pen needles market is projected to grow on account of the growing prevalence of diabetes coupled with the growing need for minimally invasive procedures. According to IDF Diabetes Atlas Ninth edition 2019, approximately 463 million adults (20 to 79 years) are living with diabetes which is anticipated to surpass the mark of 700 million by 2045. Furthermore, in the year 2019; USD 760 billion was spent on healthcare expenditure towards diabetes. All these factors are anticipated to augur market growth over the forecast period.
Adroit Market Research report on global Pen Needles market gives a holistic view of the market from 2015 to 2025, which includes factors such as market drivers, restraints, opportunities, and challenges. The market has been studied for historic years from 2015 to 2019, with the base year of estimation as 2019 and forecast from 2020 to 2025. The report covers the current status and future traits of the market at global as well as country level. In addition, the study also assesses the market competition with Porter's five forces analysis and company positioning based on their product portfolio, geographic footprint, strategic initiatives and overall revenue. Prominent players operating in the global Pen Needles market have been studied in detail.
North America currently holds the majority of the market share owing to the prevalence of diabetes, the presence of a significant number of major players across the region along with growing investments by the established firms. Furthermore, Asia Pacific is anticipated to grow with the highest CAGR owing to the growing patient pool, rising healthcare expenditure, rising disposable income, and growing awareness across the region.
The prominent players operating in global Pen Needles market includes B. Braun Melsungen AG, Ypsomed AG, Owen Mumford Ltd., Novo Nordisk A/S, BD, Terumo Corporation, Allison Medical, Inc., UltiMed, Inc., HTL-Strefa, Arkray, Inc. among other prominent players.
Key segments of the global pen needles market
Product Overview, 2015-2025 (USD Million)
- Standard Pen Needles
- Safety Pen Needles
Needle Length Overview, 2015-2025 (USD Million)
Therapy Overview, 2015-2025 (USD Million)
- Glucagon-like-Peptide-1 (GLP-1)
- Growth Hormone
Regional Overview, 2015-2025 (USD Million)
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Central and South America
- Rest of Central and South America
- Middle East & Africa
- Rest of Middle East and Africa