The North American Pen Needle market is anticipated to grow at a CAGR of 7.5% during the forecast period. North America has a vast potential for the treatment of diabetes owing to the presence of numerous companies and research institutes focused on the R&D regarding drug development and manufacturing. The pen needle industry growth is mainly influenced by factors such as a rise in the number of diabetic patients coupled with the awareness of diabetes care. In addition, according to IDF, in 2019, the prevalence of diabetes was around 13.3% of the total adult population in the region which is expected to increase up to 14.2% by 2030 and 15% by 2045. Thus, the increased prevalence of diabetes provides growth opportunities for the market during the forecast period.
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Furthermore, the frequent advancements in the pen needles by the companies working across the region will also contribute to the high share of the regional market. In addition to this, the high awareness among people related to the availability of such products in the market for maintaining the diabetes level is further anticipated to contribute towards the growth of the North American pen needle market. Moreover, there is significant support from governments in the form of reimbursements for the government and private insurers which also encourages the treatment of diabetes among the regional population.
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, Domrex Pharma, Inc., 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?
North American 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 North American Pen Needle Market is available at: https://www.omrglobal.com/industry-reports/north-american-pen-needle-market
North American Pen Needle Market– Segment by Region
North America
- United States
- Canada
Company Profiles
- AgaMatrix, Inc.
- Allison Medical, Inc.
- Becton, Dickinson and Co.
- Domrex Pharma, Inc.
- MHC Medical
- Montméd inc.
- Novo Nordisk A/S
- Trividia Health, Inc.
- Ultimed, Inc.
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