Global Pen Needles Market 2017-2021

Global pen needles market forecast

According to the pen needles market outlook, the global pen needles market will grow steadily over the next four years at a CAGR of over 10% by 2021. This market research analysis identifies the increase in adoption of pen devices for self-care diabetes management as one of the primary growth factors for this market. The adoption rate of pen devices is increasing due to several factors including rising awareness of health consciousness, painless injections with pen needles, and improvement in healthcare policies expanding the reimbursement for pen needles. The introduction of handy pen devices, disposable pen needles offers the users the need to avoid scheduling the appointments, save hospitals and clinics visiting fees, eliminate waiting time, and increase personal convenience has prompted people with diabetes to opt for self-care diabetes management.

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One of the latest pen needles market trends that will gain traction in the pen needles market in the coming years is the technological advances in non-invasive techniques. Factors including the need for frequent insulin injection, fear of pain and difficulty to administer, and concerns about hypoglycemia and weight gain are boosting the development of novel non-invasive routes of insulin administration promises to improve diabetes management further. For instance, the insulin pen has very fine pen needles and built-in Bluetooth, which automatically sends dose data and track insulin doses to the smartphone app that is compatible with iPhone and Android devices. Additionally, the app will also include a bolus calculator, automatic insulin-on-board tracking, dose history, and insulin temperature which prompts an alarm if it gets too hot or cold.

Competitive landscape and key vendors

The pen needles market appears to be highly fragmented due to the presence of established players. Companies are focusing on the market through distribution and partnerships, market expansion to new regions, low-cost offering, and product accuracy. Furthermore, vendors in this market are developing new products or updating existing products with emerging technologies through R&D for accurate procedures.

The leading vendors in the market are

• BD
• Novo Nordisk
• Ypsomed
• B. Braun

The other prominent vendors in the market include Allison Medical, Artsana, Beipu Medicals, Henso Medical, HTL-STREFA, Medtronic, Medline, Menarini Diagnostics, Owen Mumford, Pietrasanta, Simple Diagnostics, Stat Medical, Terumo, Trividia Health, and UltiMed.

Pen needles market segmentation by product

• Standard pen needles
• Safety pen needles

Based on the pen needles industry insights, the standard pen needles segment accounted for the major shares in this market. Factors such as its cost-effectiveness and the availability of various gauges, which includes 31G, the thinnest needle for injecting insulin will contribute to the growth of this industry segment in the coming years due to the rise in diabetic population and raising awareness about the use of pen needles for insulin administration.

Geographical segmentation and analysis of the pen needles market

• Americas
• APAC
• EMEA

This market study estimates that in terms of geographic regions, the Americas will be the major revenue contributor to the market by 2021. The healthcare providers in the Americas are focusing on providing more efficient diabetes management with the use of new devices such as pen syringes and pen needles as they provide a more efficient and painless treatment method for people with diabetes. Additionally, the healthcare providers are also forming public-private partnerships with governments to increase market penetration of pen needles in this region.

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Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global pen needles market?
• What are the key market trends impacting the growth of the global pen needles market?
• What are the challenges to market growth?
• Who are the key vendors in the global pen needles market?
• What are the market opportunities and threats faced by the vendors in the global pen needles market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global pen needles market?

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