Pen Needles Market Research Report with Latest Trend, Share, and Opportunities For $ 1.8 Billion Industry

The Pen Needles Market is expected to reach USD 1.8 billion by 2024 from an estimated USD 1.1 billion in 2019, at a CAGR of 10.8% during the forecast period

ID: 1554052
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(businesspress24) - The study involved four major activities in estimating the current market size for pen needles. Exhaustive secondary research was done to collect information about the market, peer markets, and the parent market. The next step was to validate these findings, assumptions, and market sizing with industry experts across the value chain through primary research. Thirdly, both top-down and bottom-up approaches were employed to estimate the complete market size. Finally, the market breakdown and data triangulation method was used to estimate the market size of segments and subsegments.

Growth in the Pen Needles Market is mainly driven by factors such as the growing prevalence of chronic diseases and the favorable reimbursement scenario in selected countries. The growing preference for biosimilar drugs is another factor providing a wide range of growth opportunities for key players in the market.

According to the new market research report

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The insulin therapy segment is expected to grow at the highest CAGR during the forecast period

On the basis of therapy, the market is categorized into insulin therapy, glucagon-like peptide-1 (GLP-1) therapy, growth hormone therapy, and other therapies. The insulin therapy segment is expected to grow at the highest CAGR during the forecast period due to the high and growing diabetic population globally. Since pen needles need to be replaced after every injection, the rising use of insulin pens is a major factor driving the demand for pen needles.

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Geographical Analysis:

North America is expected to dominate the market in 2018. The large share of the North American market can primarily be attributed growing diabetes prevalence and favorable reimbursement scenario for pen needles, federal initiatives to create awareness about injection techniques, increasing market penetration by leading players, and the development of improved pen needle technologies.



The key players in the pen needles market are Becton, Dickinson and Company (US), Novo Nordisk A/S (Denmark), Ypsomed Holding AG (Switzerland), B. Braun Melsungen AG (Germany), HTL-STREFA S.A. (Poland), Terumo Corporation (Japan), and Owen Mumford (UK).



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pen-needles-market, needles-market,



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Date: 11/20/2019 - 00:44
Language: English
News-ID 1554052
Character count: 3342
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Firma: marketsandmarkets
Ansprechpartner: shelly singh Feedback to businesspress24.com about Pressrelease-id:
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Meldungsart: Financial
Versandart: send
Freigabedatum: 20.11.2019
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