The global pen needle market is anticipated to grow at a considerable CAGR of 9.8% during the forecast period (2024-2031). The rising number of diabetic’s patients is one of the prime factors affecting and driving the market. According to the International Diabetes Federation in 2019 around 463 million adults aging between 20-79 years were diagnosis with diabetes and it will reach to around 700 million in 2045. So the increasing pervasiveness of diabetic among people is increasing the demand for pen needles as it is used for injecting insulin that is acting in the favor of market.
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To gain on the opportunity key players operating in the global pen needle market had been adopting strategy such as new launches for achieving major market share. For instance, in January 2020, Montméd had received the US Patent from the United States Patent and Trademark Office (USPTO) for its SiteSmart that is a novel pen needle system consists of 100 insulin pen needle with 4 colours.
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Market Coverage
- Segment Covered-
o By Type
o By Therapy
o By Purchase
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- B. Braun Melsungen AG, Berpu Medical Technology Co., Domrex Pharma, MedExel Co., Ltd., and Métier Medical Ltd.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Pen Needle Market – Segmentation
By Type
- Standard Pen Needles
- Safety Pen Needles
By Therapy
- Insulin
- Glp-1
- Growth Hormones
By Purchase
- Retail
- Non-Retail
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