Pen Needles Market Size Worth USD 9.43 Billion in 2032 - PowerPoint PPT Presentation

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Pen Needles Market Size Worth USD 9.43 Billion in 2032

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Market Size – USD 3.10 Billion in 2022, Market Growth – at a CAGR of 11.7%, Market Trends – Rising preference for biosimilar drugs – PowerPoint PPT presentation

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Title: Pen Needles Market Size Worth USD 9.43 Billion in 2032


1
Pen Needles Market Size Worth USD 9.43 Billion in
2032
www.emergenresearch.com
Increasing prevalence of chronic disorders is a
key factor driving market revenue growth
2
Our Model
Market Analysis
Financial Analysis
Distribution Channel Analysis
Brand Analysis
Custom Market Intelligence
Competitor Analysis
Product Analysis
Custom Research
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Demand Analysis
Risk Analysis
3
Business Plan Parameters
End Use Analysis
Demand Availability Analytics
Market Entry Strategy
Restructuring Revival
New Product Strategy
Product Planning / Strategy
SWOT Analysis
Marketing / Distribution Channel Feasibility
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Customer Identification Survey
Competitive Landscape / MA Feasibility
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4
Industries We Cater to
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5
5
Market Summary
The global pen needles market size was USD 3.10
Billion in 2022 and is expected to register a
steady revenue CAGR of 11.7 during the forecast
period, according to latest analysis by Emergen
Research. Increasing prevalence of diabetes is a
key factor driving market revenue growth.
According to the International Diabetes
Federation (IDF), in IDF North America and
Caribbean Region in 2021, 51 million adults
(20-79) were diagnosed with diabetes. This number
is expected to rise to 57 million by 2030.
Impaired Glucose Tolerance (IGT) affects 47
million adults (20-79) in IDF North America and
Caribbean region, putting them at high risk of
developing type 2 diabetes. In addition, rising
demand for self-injected devices is another key
factor driving market revenue growth.
Self-injection devices, primarily pens used for
subcutaneous biopharmaceutical delivery, are a
growing segment of drug delivery device. Their
significance is expected to increase in the
future due to tendency towards biological
medications that cannot be taken orally and
rising prevalence of diabetes that has been
observed globally. Need for self-injection
devices is rising as a result of numerous new
injectable that are anticipated to launch in the
market in the upcoming years, as well as tendency
to move treatment from clinic to home environment
to save costs and improve patients
comfort. Needle anxiety for patients is a major
factor restraining revenue growth of the pen
needles market. Skin pricks and other sharp
things can make people feel anxious. However,
fear of having to inject with needles can, still
exist. According to CDC, 1 in 4 people and up to
2 in 3 youngsters have severe phobias of needles.
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6
Market Summary
Further key findings from the report suggest The
standard pen needle segment accounted for a
significantly large revenue share in the global
pen needles market in 2022. This attributed to
low cost of standard pen needles. Standard pen
needles are preferred over safety pen needles as
they are less expensive, especially given the
need for daily insulin administration. The 8mm
segment is expected to register largest revenue
share in 2022. This is due to easy availability
and affordability of these needles. These needles
are most prescribed to all patients, including
obese patients with the target disease. 8mm
needles are preferred in home settings owing to
their safety, user convenience, and ease of
disposal. The North America market is expected to
register largest revenue share over the forecast
period. This is due to increasing prevalence of
diabetes, favorable reimbursement conditions for
pen needles, federal campaigns to raise public
awareness of proper injection technique,
expanding market penetration by major players,
and advancement of better pen needle
technologies. Major companies in the market
report include Novo Nordisk A/S, Becton Dickinson
and Company, Terumo Corporation, Owen Mumford, B.
Braun SE, Ypsomed Holding AG, UltiMed, Inc.,
Allison Medical, Inc., ARKRAY, Inc., and Artsana
S.p.A. In June 2021, U.S. Food and Drug
Administration (FDA) approved Novo Nordisk's
Wegovy for chronic weight management. Wegovy is
the first and only once-weekly GLP-1 receptor
agonist therapy approved for weight management in
obese patients. Request Free Sample Copy_at_
https//www.emergenresearch.com/request-sample/175
3
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7
Market Summary
Emergen Research has segmented the global pen
needles market based on product, length, therapy,
mode of purchase, and region Product Outlook
(Revenue, USD Billion 2019-2032) Standard Pen
Needle Safety Pen Needle Length Outlook (Revenue,
USD Billion 2019-2032) 4mm 5mm 6mm 8mm 10mm 12mm
Therapy Outlook (Revenue, USD Billion
2019-2032) Insulin Glucagon-like-Peptide-1
(GLP-1) Growth Hormone Read More_at_
https//www.emergenresearch.com/industry-report/pe
n-needles-market
8
Parameter Details
Market Size Estimation Period 2020-2028
Base Year Considered 2020
Historical Data 2017-2019
Forecast Period 2021-2027
Quantitative Units Revenue in USD million CAGR from 2020 to 2028
Segments Covered Types, Application, End-Users, Regions more.
Countries Included The U.S., Germany, U.K., Italy, China, India, Japan, Brazil
Report Coverage Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, and Trends
Regions Scope North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Customization Scope 10 hours of free customization expert consultation
Pricing and Purchase Options Explore Different Purchase Options Request for Discount to Avail New Year Discount
MARKET SEGMENTATION
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9
Regional Share Dynamics
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10
About Us
At Emergen Research, we believe in advancing with
technology. We are a growing market research and
strategy consulting company with an exhaustive
knowledge base of cutting-edge and potentially
market-disrupting technologies that are predicted
to become more prevalent in the coming
decade. Our expertise umbrellas the
technological environment of all major
industries, and our services help you map your
actions to ensure optimal yield. Our analysts
utilize their market proficiency to offer
actionable insights that help our clients
implement profitable strategies and optimize
their return on investment. Our services are
wide-ranging, right from technological
environment analysis to technological profiling
that highlights the existing opportunities in the
market you can capitalize on to stay ahead of
your competitors.
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11
Lets Talk Contact Information
Reach out to us and our Research Executives will
ensure you get the report that meets all your
requirements and address all your concerns.
14671 110 Avenue, Surrey, British Columbia, V3R2A9
www.emergenresearch.com
www.emergenresearch.com
sales_at_emergenresearch.com
1 (604) 757-9756
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