Pen Needles Market Trends and Projections 2023-2029

Pen Needles Market Overviews

Maximize Market Research is an Pen Needles research firm that has published a detailed analysis of the “Pen Needles Market”. The report includes pricing analysis, demand analysis, business insights, market trends, competitive landscape, and growth opportunities. The base year of the Pen Needles market.

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Pen Needles Market Scope and Methodology:

The Pen Needles Market Report offers a comprehensive analysis of the Pen Needles industry, which covers the study of its segments. The report's scope includes a complete inspection of trends, growth drivers, challenges, and opportunities in the Pen Needles market. It assesses key players their product portfolio, SWOT analysis, business strategy, competitive strategies, and recent developments of the product. The scope includes market size projections and CAGR analysis. The report on Pen Needles Market covers key aspect of the market dynamics such as drivers, restraints, challenges, and opportunities. Major competitors in the Pen Needles Market are listed along with new entrants to get an all-inclusive outlook on the competitive landscape of the market. The research methodology involves several approaches including primary data collection through surveys and interviews with industry experts, and the secondary data is collected from reputable data sources and databases. The report also provides insights into the Pen Needles market region-wise with their key countries.

Pen Needles Market Regional Insights

North America, Europe, Asia Pacific, South America, the Middle East, and Africa are the major regions that are covered in the Pen Needles market. Analysis of the key countries for all the regions along with the analysis of social, cultural, economic, political, and technological factors have also been covered in the report.

Pen Needles Market Classifications

by Product

Standard Pen Needles
Safety Pen Needles

by Needle Length

4 mm
5 mm
6 mm
8 mm
10 mm
12 mm

by Therapy

Insulin
Glucagon-like-Peptide-1 (GLP-1)
Growth Hormone

According to the Product, With over 88.5% of all sales in 2022, the market segment for regular pen needles dominated the industry. The increase was attributed to diabetes patients' frequent usage of these medications at greater dosages. Individuals who struggle with handiness are among the frequent users of these needles. However, because they reduce the safety of using pen needles, these needles are not advised due to the high risk of needlestick injuries. As a result, it is anticipated that their short-term demand will be restricted. Standard pen needles are used more often in houses. Inadequate guidance on the correct usage of these devices leads to incorrect dosages and related problems.

Considering the length of the needle, Among the various needle lengths, the 8mm segment accounted for the largest share of over 25.00% of the total revenue in 2022 and led the worldwide pen needle market. These types of needles are administered to most individuals, even overweight patients with the target ailment. Because 8mm needles are safer, more convenient for users, and easier to dispose of, they are recommended in home settings. Some other elements that are anticipated to promote the category growth are affordability and accessibility. The larger size of the needles reduces the risk of a needlestick injury and makes disposal easy and secure.

Using therapy as a basis Based on therapy, the global market has been split into groups for growth hormone, GLP-1, and insulin. With a market share of almost 90.00% in 2022, the insulin therapy market category maintained the highest market share. Throughout the projected period, the market is anticipated to grow profitably. This results from individuals with Type 1 and Type 2 diabetes become increasingly conscious of the advantages of self-administering insulin. GLP-1 therapy is also anticipated to emerge in the not too distant future. This is because it may help persons with type 2 diabetes have lower blood glucose levels. It is believed that using GLP-1 therapy is a better option than using insulin. A few of these drugs are normally used once every seven days.

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The following companies are included in the market for Pen Needles :

1. B. Braun (Germany)
2. KD Medical GmbH Hospital Products (Germany)
3. GlucoRx Ltd (UK)
4. Owen Mumford (UK)
5. HTL-STREFA S.A. (Poland)
6. VOGT MEDICAL (Ukraine)
7. Van Heek Medical (Netherlands)
8. Ypsomed Holding AG (Switzerland)
9. Novo Nordisk A/S (Denmark)
10. Rays SpA (Italy)
11. Terumo Corporation (Japan)
12. Nipro Corporation (Japan)
13. ARKRAY, Inc. (Japan)
14. Berpu Medical Technology Co., Ltd. (China)
15. Hindustan Syringes & Medical Devices Ltd (India)
16. Cipla Limited (India)
17. Becton, Dickinson and Company (US)
18. Allison Medical Inc (US)
19. AdvaCare Pharma (US)
20. UltiMed (US)
21. Promisemed Medical Device Inc. (US)
22. Simple Diagnostics (US)
23. Links Medical Products (US)
24. MHC Medical Products, LLC (US)
25. Trividia Health (US)

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Key questions answered in the Pen Needles Market are:

What is Pen Needles?
What is the growth rate of the Pen Needles Market?
Which are the factors expected to drive the Pen Needles market growth?
What are the different segments of the Pen Needles Market?
What growth strategies are the players considering to increase their presence in Pen Needles?
What are the upcoming industry applications and trends for the Pen Needles Market?
What are the recent industry trends that can be implemented to generate additional revenue streams for the Pen Needles Market?
Who are the leading companies and what are their portfolios in Pen Needles Market?
What segments are covered in the Pen Needles Market?
Who are the key players in the Pen Needles market?

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Key Offerings:

Past Market Size and Competitive Landscape
Past Pricing and price curve by region
Market Size, Share, Size & Forecast by different segment
Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Segmentation – A detailed analysis by segment with their sub-segments and Region
Competitive Landscape – Profiles of selected key players by region from a strategic perspective

Competitive landscape – Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region

PESTLE Analysis
PORTER’s analysis

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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