Pen Needles Market to value over US $ 1.6 billion and grow at a CAGR of over 9.6% during the forecast period from 2019 to 2026.
The increment in the prevalence of diabetes has driven numerous people to obtain medical procedures involving the use of pen needles. In order to facilitate the intake of insulin, which can be self-administered using an insulin pen, the use of pen needles is widely utilized and thus promotes the global market’s growth. These self-administered devices are more convenient to use than traditional syringes and vials which is why they are preferred over other devices thus bolstering the market growth. Progression in technology, increasing consumer awareness attributed to the numerous initiatives of healthcare conferences and seminars, and favorable reimbursement policies of governments are some of the factors driving the market growth. The market, however, is facing restrains due to the reuse of pen needles, complications and apprehension associated with needle usage.
On the basis of type, the market is segmented into standard pen and safety pen needles. Standard pen needles held the largest market share owing to its widespread application in the diagnosis and cure of diabetes. Increasing number of diabetes patients, cost efficiency, and rising awareness among consumers regarding the usage of these products contribute to the growth of this segment. For instance, BD AutoShield Duo pen needle, shields over front and back ends of needles and does not require pinch up, thus, reducing the risk of needlestick injuries.
Based on the length of the needle, the market is characterised into 4mm, 5m, 6mm, 8mm, 10mm, and 12mm. 8mm size pen needle is foreseen to dominate the market. Ensuring faster and better drug delivery promoted market growth. Needle length of 4mm is predicted to exhibit the fastest growth over the forecast period owing to its short length. The accuracy of the pen needle to get insulin to the fat layer is 99.5% at all the injection sites. It does not offer resistance while injecting and it provides good comfort as compared to other injections. The sharp tip of these needles helps to reach the subcutaneous tissue very easily without much pain.
On the basis of therapy, insulin therapy dominated the market and is projected to witness lucrative growth over the forecast period. This is due to the increasing number of patients and level of awareness about self-administration.
Based on region, Europe dominated the market because of the growing patient pool in the region. According to Diabetes UK, 4 million people are found to be suffering from diabetes. Moreover, the UK government is taking initiatives to raise awareness among people and invest in diabetes care and research so that better treatment techniques and facilities are available for diabetic patients.
Asia Pacific is expected to witness fastest growth over the forecast period owing to rising awareness about the availability of technologically advanced products for treatment of diabetes. The changing lifestyle of people has also led to an increase in number of patients with type 2 diabetes.
Prominent players are Becton, Dickinson and Company (US), Novo Nordisk A/S (Denmark), and Ypsomed Holding AG (Switzerland), and B. Braun Melsungen AG (Germany).
Competitive Landscape:
● Firms indulge in mergers, acquisitions and launching new products to strengthen market presence.
● Becton, Dickinson and Company (US) came up with its BD Ultra-Fine micro pen needle 6mm x 32G and launched it in the market.
● Ypsomed (Switzerland) launched mylife Clickfine DiamondTip pen needles.

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Pen Needles Market Segmentation:
By Type
● Standard Pen Needles
● Safety Pen Needles
By Length
● 4mm
● 5mm
● 6mm
● 8mm
● 10mm
● 12mm
By Therapy
● Insulin Therapy
● Glucagon-Like Peptide-1 (GLP-1) Therapy
● Growth Hormone Therapy
● Other Therapies
By Mode of Purchase
● Retail
● Non-Retail
By Region
● Europe
● North America
● APAC
● Latin America
● Rest of World
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Competitive Landscape
● Tier 1 players- established companies in the market with a major market share
● Tier 2 players
● Emerging players which are growing rapidly
● New Entrants
FutureWise Takeaways
● Growth prospects
● SWOT Analysis
● Key Trends
● Key Data Points Affecting Market Growth
Objectives of the Study:
● To provide an exhaustive analysis on the global pen needles market by type, by length by therapy, by mode of purchase, and by region
● To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
● To evaluate and forecast micro-markets and the overall market
● To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the rest of the world
● To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
● Profiling of companies to evaluate their market shares, strategies, financials and core competencies

Table of Contents
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Markets Covered
1.3.2 Years Considered for the Study
1.4 Currency
1.5 Limitations
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.2 Market Size Estimation
2.2.1 Market Data Validation and Triangulation
2.3 Assumptions for the Study
3 Executive Summary
4 Premium Insights
4.1 Pen Needles Market Overview
4.2 Europe: Pen Needles Market, By Type & Country, 2018
4.3 North America: Pen Needles Market, By Type, 2018
4.4 Pen Needles Market: Geographic Snapshot
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Prevalence of Chronic Diseases
5.2.1.2 Favorable Reimbursement in Selected Countries
5.2.2 Restraints
5.2.2.1 Preference for Alternative Modes of Drug Delivery
5.2.2.2 Poor Reimbursement Scenario in Developing Countries
5.2.3 Opportunities
5.2.3.1 Growing Preference for Biosimilar Drugs
5.2.4 Challenges
5.2.4.1 Reuse of Pen Needles

6 Industry Insights
6.1 Introduction
6.2 Porter’s Five Forces Analysis
6.2.1 Threat of New Entrants
6.2.2 Bargaining Power of Suppliers
6.2.3 Bargaining Power of Buyers
6.2.4 Segment Rivalry
6.2.5 Threat of Substitutes
6.3 Competitive Intensity
6.3.1 Evaluation Parameters
6.3.2 Scoring Methodology
6.3.3 Competitive Intensity Score, By Company
6.3.3.1 Competitive Intensity Score for BD
6.3.3.2 Competitive Intensity Score for Novo Nordisk
6.3.3.3 Competitive Intensity Score for Ypsomed
6.3.4 Competitive Intensity Mapping of BD, Novo Nordisk, and Ypsomed
6.3.5 Comparison of Evaluation Parameters, By Company
6.3.5.1 Pricing
6.3.5.2 Product Portfolio
6.3.5.3 Product Launches/Technological Advancements
6.3.5.4 Geographical Presence
6.3.5.5 Promotional/Marketing Activities
6.3.5.6 Sponsorships/Donations/Education/Awareness Campaigns
6.3.5.7 M&A, Partnerships, Collaborations, Agreements, and
Expansions
6.3.5.8 Certifications/Accreditations/Awards

7 Pen Needles Market, By Type
7.1 Introduction
7.2 Standard Pen Needles
7.2.1 Standard Pen Needles are Preferred Over Safety Pen Needles as They are More Affordable, Considering the Need for Daily Insulin Intake
7.3 Safety Pen Needles
7.3.1 Demand for Safety Pen Needles to Rise Due to Growing Concerns Regarding the Prevention of Nsis Associated With Standard Needles

8 Pen Needles Market, By Length
8.1 Introduction
8.2 4mm
8.2.1 4mm Pen Needles are Expected to Register the Highest Growth Rate During the Forecast Period
8.3 5mm
8.3.1 5mm Pen Needles to Register the Second-Highest Growth Rate During the Study Period
8.4 6mm
8.4.1 6mm Pen Needles are the Most Commonly Used Needles Across the Globe
8.5 8mm
8.5.1 8mm Pen Needles Will Continue to Dominate the Pen Needles Market During the Forecast Period
8.6 10mm
8.6.1 Availability of Shorter Pen Needles to Restrain the Growth of the 10mm Pen Needles Market
8.7 12mm
8.7.1 Popularity of Shorter & Less Painful Needles to Hamper the Growth of the 12mm Pen Needles Market

9 Pen Needles Market, By Therapy
9.1 Introduction
9.2 Insulin Therapy
9.2.1 Rising Prevalence of Diabetes to Drive the Growth of the Pen Needles Market for Insulin Therapy
9.3 Glucagon-Like Peptide-1 (GLP-1) Therapy
9.3.1 Strong Focus of Major Pharmaceutical Companies to Introduce GLP-1 Drugs in the Market to Drive the Growth of the Pen Needles Market for GLP-1 Therapy
9.4 Growth Hormone Therapy
9.4.1 Development of Sustained-Release Growth Hormone Formulations for Reducing Injection Frequency to Restrain the Growth of the Pen Needles Market for Growth Hormone Therapy
9.5 Other Therapies

10 Pen Needles Market, By Mode of Purchase
10.1 Introduction
10.2 Retail
10.2.1 Retail Purchases of Pen Needles to Witness High Growth in the Coming Years Owing to the Growing Popularity of Online Purchases
10.3 Non-Retail
10.3.1 The Large Number of Needle-Phobic Diabetic Patients is Supporting the Growth of This Segment

11 Pen Needles Market, By Region
11.1 Introduction
11.2 North America
11.2.1 US
11.2.1.1 US Dominates the Pen Needles Market in North America
11.2.2 Canada
11.2.2.1 High Diabetes Prevalence and Growing Geriatric Population Will Support Pen Needle Uptake
11.3 Europe
11.3.1 Germany
11.3.1.1 High Diabetes Expenditure and Reimbursement for Pen Needles is Expected to Drive the Market in Germany
11.3.2 UK
11.3.2.1 NHS Support and Access to Cost-Effective Pen Needles are Likely to Drive the Market in the UK
11.3.3 France
11.3.3.1 Higher Insurance Coverage and Increase in Aging Population and Affordability Contribute to Demand for Pen Needles
11.3.4 Italy
11.3.4.1 Wide Regional Variations in Terms of Benefits and Coverage to Slow Growth in Italy
11.3.5 Spain
11.3.5.1 Supportive Regulations Mandating the Use of Safety Pen Needles to Boost the Growth of the Spanish Market
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.1.1 High Diabetes Incidence and Approval of Injectable Insulin to Drive the Pen Needles Market in Japan
11.4.2 China
11.4.2.1 Suboptimal Insurance Coverage Policies Will Dampen Market Growth
11.4.3 India
11.4.3.1 Low Pen Needle Penetration, Lack of Awareness to Restrain Market Growth in India
11.4.4 Rest of Asia Pacific
11.5 Rest of the World
11.5.1 Latin America
11.5.1.1 Healthcare Reforms to Drive Growth in Mexico
11.5.2 Middle East & Africa
11.5.2.1 Favorable Reforms in South Africa to Bolster Market Growth

12 Competitive Landscape
12.1 Overview
12.2 Market Share (As of 2018)
12.2.1 Becton, Dickinson and Company
12.2.2 Novo Nordisk
12.2.3 Ypsomed
12.3 Competitive Leadership Mapping (2018)
12.3.1 Vendor Inclusion Criteria
12.3.2 Visionary Leaders
12.3.3 Innovators
12.3.4 Dynamic Differentiators
12.3.5 Emerging Companies
12.4 Competitive Scenario
12.4.1 Product Launches
12.4.2 Expansions
12.4.3 Agreements

13 Company Profiles
(Introduction, Products & Services, Strategy, & Analyst Insights, Developments, FutureWise View)*
13.1 Becton, Dickinson and Company
13.2 Novo Nordisk
13.3 Ypsomed
13.4 Owen Mumford, Ltd.
13.5 HTL-Strefa
13.6 B. Braun Melsungen
13.7 Terumo Corporation
13.8 Ultimed
13.9 Allison Medical, Inc.
13.10 Artsana S.P.A.
13.11 Arkray, Inc.
13.12 Glucorx

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