“Asia-Pacific pen needles market” research report, published by Market Data Forecast delineates that the market is growing with a CAGR of 14.10 % to reach USD 0.61 billion by 2021, from USD 0.32 billion in 2016, which amounts to a cumulative growth of USD 0.29 billion.
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Pen needles are used to deliver medication (like insulin or other injectable medications) in combination with injection pens. A pen needle comprises of hollow needle attached to injection pen. Pen needles are available with varied needle lengths and are majorly utilized by diabetes patients.They arrive in the assortment of needle breadths and lengths and are also utilized by patients for infusion and wellbeing experts of an assortment of medicines.
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The report also presents detailed analysis of multitude of factors affecting the pen needles market bearing either positive or negative outcomes. Some of those factors are
- Quickly rising diabetic population
- growing number of awareness programs on diabetes conditions
- increasing adoption of pen devices for insulin delivery
- increasing reuse of pen needles
- limited acceptance of diabetic patients towards the pen needles
- higher cost of the pen needles as compared to conventional syringes &
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For granular level understanding the pen needles market is segmented based on type and application, each being provided with Market Size Estimations and Y-o-Y Forecasts. Based on Therapy Market can be segmented as Growth Hormone, Insulin, & GLP-1. Based on Type Market can be segmented as Safety Pen Needles, Standard Pen Needles. Based on Needle Length market can be segmented as 4mm, 6mm, 8mm, 10mm, & 12mm and Based on Mode of Purchase Market can be segmented as Retail & Non-Retail.
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With India and China being the major economies which have unexplored customer base covered in the study the report also focuses on other regions like Japan, Australia, South Korea and Rest of Asia-Pacific.
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Some of the key players that operate in the Asia-Pacific pen needles market includeBecton, Dickinson and Company (U.S.), Novo Nordisk A/S (Denmark), and Ypsomed Holding AG (Switzerland) are the major players accounting for major share of the global pen needles market in 2016. Other players include UltiMed, Inc. (U.S.), Allison Medical, Inc. (U.S.), Owen Mumford, Ltd. (U.K.), B. Braun Melsungen (Germany), Artsana S.p.a. (Italy), HTL-STREFA S.A. (Poland), and Terumo Corporation (Japan), among others. Pen needles are generally utilized by people with diabetes who regularly need various day by day insulin infusions.
The Asia- Pacific pen needles market report offers wide-range of scope:
- Regional and country-level analysis that provides an individual perspective of Asia-Pacific region and the aforementioned countries
- Know more about key areas of industry growth via detailed Segment-level analysis on basis of type, therapy, needle length and mode of purchase along with market size forecasts and y-o-y estimations
- Detailed explanation of major drivers, restraints, opportunities, and challenges(DROC) that affect the market and impact the ever-shifting market dynamics
- Strategic Analyses containing PESTLE and Porter’s Five Forces Analyses which are obtained by studying the macro & micro environmental factors that affect the market demographics
- Comprehensive listing of key market players along with Company overview, product portfolios, financials (subjected to availability), SWOT analysis and analyst overview
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- Market Outlook – Investment opportunities devised by stand in experts to provide both individuals and organizations a strong financial foothold in the market
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