A research study titled, “Pen Needle Market
by Type, Needle Length, Therapy and Mode of Purchase - Global Industry Analysis
and Forecast to 2025” published by Crystal Market Research, states that the pen
needle market is projected to be around $4.9 billion by 2025.
Diabetes is one of
the most occurring chronic diseases characterized by either incapability of
pancreas to produce glucose or incapability of body to absorb glucose produced
by pancreas. According to survey conducted by International Diabetic Federation
(IDF) in 2015, around 415 million are living with diabetes with proportion of
type-2 diabetics increasing globally. Largenumber of people aged 40 to 59
suffer from diabetes and related complications. Diabetic people have high risk
of developing several complications (such as vascular disorders, kidney
malfunctioning besides affecting eyes, nerves and teeth) due to high glucose
level. Diabetes has long term impact on health and economic condition of
individual. Over a period of time, diabetes affect kidney, damages heart
vessels, and eyes, leading to malfunctioning of body. Besides, people with
diabetes are likely to incur huge expenditure causing financial burdens on them
and family members. There are many methods to inject insulin in body such as
through syringes and pen needles. Withseveral risks (such as sharp injuries or
rapture of blood vessels) associated with the use of syringes; the demand for
insulin syringes is expected to decline in near future. However, this will
provide ample growth opportunities for the pen needle market.
Browse full research report with TOC on “Pen
Needle Market by Type, Needle Length, Therapy and Mode of Purchase - Global
Industry Analysis and Forecast to 2025” at:
http://www.crystalmarketresearch.com/report/pen-needle-market
Standard pen
needles segment dominated the global market in 2016, due to growing awareness
among consumers about the availability of safe insulin delivery methods,
increasing prevalence of diabetes with rise in geriatric population, and
standard pen needles being cost effective as compared to other insulin delivery
methods. However, standard pen needles are expected to witness decline in the
growth during forecast period due to various risks of needle related injuries
such as rupture of blood vessel while injecting insulin in the body. Among
various needles available, 8mm needle length accounted for the largest share of
the global market in 2016; as these needles are prescribe to large number of
people including obese people. Insulin therapy segment dominated the overall
market in 2016, primarily due to increasing adoption of self-administration of
insulin for diabetes type-1 as well as type-2. With increasing trend in
e-commerce, online purchase segment will witness high growth during the
forecast period.
Europe accounted
for the major share of the global pen needles market in
2016, primarily due to rising diabetic population, increased funding for
diabetic research, high adoption of technologically advanced devices, and rise
in demand for safe insulin delivery methods. However, Asia-Pacific is expected
to witness high growth in forecast period, due to increasing demand for better
healthcare infrastructure and rise in awareness about commercially available
treatments for diabetes.
Request a sample copy of Pen Needle Market
Research Report @
http://www.crystalmarketresearch.com/report-sample/HC0515
Major players in
the market are Becton, Dickinson and Company, Novo Nordisk A/S, Owen Mumford,
Ltd., HTL-STREFA S.A., B. Braun Melsungen, Ypsomed Holding AG, Terumo
Corporation, and Allison Medical, Inc. These players are highly focused on
developing advanced products for the treatment of diabetes. For instance, in
2013, Becton, Dickinson and Company launched BD Ultra-Fine Nano 4mm pen needle
with easy flow technology for easier and faster delivery of insulin in the
body. Advanced features such as easy flow with 5mm needles and digitalized pen
needles will dominate the market in coming years.
Key Findings of the Research Study:
·
Standard
pen needles segment accounted for the largest share of the global market in
2016, due to increase in diabetic population and availability of cost effective
standard pen needles.
·
Reusable
and disposable pen needles segment accounted for almost equal share with
reusable having slightly higher market share in 2016.
·
U.S.
dominated the global market and will continue to dominate during forecast
period due to high demand for technologically advanced devices and availability
of better health infrastructure.
·
4mm
needle length segment is expected to witness highest growth rate during
forecast period due to its short length.
·
Insulin
therapy segment dominated the global market in 2016, owing to
increasedpreferencefor self-administration of insulin.
·
UK and
Germany dominated the European market due to EU’s regulatory framework to
minimized needle related injuries and to increase in preference of
self-administrative methods.
Pen
needle market is segmented on following basis:
By Type:
- Safety Pen Needles
- Standard Pen Needles
By Needle Length:
- 12mm
- 10mm
- 8mm
- 6mm
- 5mm
- 4mm
By Therapy:
- Glucagon-like-Peptide-1 (GLP-1)
- Insulin
- Growth Hormone
By Mode of Purchase:
- Retail
- Non-retail
By Region:
·
North America
- U.S
- Canada
- Mexico
·
Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
·
Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest of Asia-Pacific
·
Rest of the World
- Brazil
- South Africa
- Saudi Arabia
- Turkey
- United Arab Emirates
- Others
Related Reports:
Ampoule
and Syringes Market by Product and End User - Global Industry Analysis and
Forecast to 2025: http://www.crystalmarketresearch.com/report/ampoule-and-syringes-market
About Crystal Market Research
Crystal Market
Research is a U.S. based market research and business intelligence company.
Crystal offers one stop solution for market research, business intelligence,
and consulting services to help clients make more informed decisions. It
provides both syndicated as well as customized research studies for its
customers spread across the globe. The company offers market intelligence
reports across a broad range of industries including healthcare, chemicals
& materials, technology, automotive, and energy.
Contact:
Akhil V.
304 South Jones Blvd, Suite 1896,
Las Vegas NV 89107,
United States
Toll Free: +1-888-213-4282
Website:
http://www.crystalmarketresearch.com
No comments:
Post a Comment