The European pen needle market is anticipated to grow at a CAGR of 7.7% during the forecast period. The growth of the market is attributed to the easy availability of such devices owing to the strong presence of various global companies such as B. Braun Melsungen AG, Novo Nordisk A/S, Smiths Group Plc. and Vygon SA.
Additionally, the significant increase in the number of diabetes cases in the region is driving more individuals towards insulin that can be self-taken using an insulin pen. Therefore, the adoption of pen needles among individuals is rising across the region as these are convenient as compared to ordinary needles, syringes, and vials, thus driving the growth of the market during the forecast period.
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Moreover, the surge in awareness related to the damage caused by needlestick injuries propels the growth of this market. These injuries result in the transmission of lethal diseases such as HIV, hepatitis B, hepatitis C, among others. Additionally, the high awareness of the pen needle in the region is also aiding to the significant growth of the market. Since, according to the Endocrine Society, pen needles comprise up to 75.0% of insulin prescriptions.
Market Coverage
- The market number available for – 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segment Covered-
o By Type
o By Therapy
o By Mode of Purchase
- Competitive Landscape- Becton, Dickinson and Co., Novo Nordisk A/S, Terumo Corp., Hindustan Syringes & Medical Devices Ltd., Berpu Medical Technology Co., Ltd., and Others
Key questions addressed by the report
- What is the market growth rate?
- Which segment dominates the market in the base year?
- Which segment will project the fastest growth in the market?
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
European Pen Needle Market Report Segment
By Type
- Standard Pen Needles
- Safety Pen Needles
By Therapy
- Insulin
- GLP-1
- Growth Hormones
By Mode of Purchase
- Retail
- Non-Retail
A full report of European Pen Needle Market is available at: https://www.omrglobal.com/industry-reports/european-pen-needle-market
European Pen Needle Market– Segment by Region
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Company Profiles
- Braun Melsungen AG
- BIOCORP Production
- Ipsen Pharma
- Matzmedical
- Novo Nordisk A/S
- Owen Mumford, Ltd.,
- Smiths Group Plc.,
- Vygon SA
- Ypsomed AG
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