DALLAS, October 30, 2014 /PRNewswire/ --
According to the new market research report "Pen Needles Market by Type (Standard and Safety), by Needle Length (4mm, 5mm, 6mm, 8mm, 10mm, and 12mm), by Therapy (Insulin, Glucagon-like peptide, Growth Hormones) - Analysis & Global Forecast to 2019", published by MarketsandMarkets, analyzes and studies the major market drivers, threats, opportunities, and challenges. This report studies the global Pen Needles Market for the forecast period of 2014 to 2019. This market is expected to reach $2,105 Million by 2019 from $1,283 Million in 2014, and is poised to grow at a CAGR of 10.4% during the forecast period.
Browse 101 market tables and 51 figures spread through 185 pages on "Pen Needles Market- Analysis & Global Forecast to 2019"
Early buyers will receive 10% customization on this report.
The global Pen Needles Market is segmented on the basis of type, needle length, therapy, and regions. Based on type, the Pen Needles Market is categorized into standard pen needles and safety pen needles. The standard pen needles segment is expected to account for a major share of the pen needles market, by type, in 2014.
On the basis of needle length, the Pen Needles Market is segmented into 4 mm, 5 mm, 6 mm, 8 mm, 10 mm, and 12mm. Pen needles with 6mm length are expected to account for a major share of the pen needles market, by needle length in 2014. On the basis of therapy, the Pen Needles Market is segmented into insulin, Glucagon-like peptide (GLP), and growth hormones. Insulin therapy account for major share of the pen needles market, by therapy in 2014.
On the basis of regions, the market is divided into North America, Europe, Asia, and Rest of the World (RoW). Rest of the World comprises Latin America, Pacific countries, and Middle East and Africa. Europe accounts for the largest share in the pen needles market, followed by North America and Asia. However, the Asian market is slated to grow at the highest CAGR in the coming five years and serves as a revenue pocket for the companies involved in the manufacturing of pen needles.
Over the years, the demand for pen needles is likely to increase owing to favorable reimbursement environment in North America and Europe, strong government support in the Pacific region, advantages of insulin pens over syringes and vials, technological advancements in pen needle technologies, and growing diabetic population. However, poor reimbursement structure in developing countries, severe shortage of Endocrinologists in the U.S., threats involved in reuse of pen needles, rising incidents of needle stick injuries (NSIs), and alternative drug delivery methods are restraining the growth of this market. Rising use of safety pen needles is likely to create opportunities for the pen needles market. However, minimizing the usage of standard pen needles still remains a challenge for this market.
Some of the major players in the global Pen Needles Market include Becton, Dickinson and Company (U.S.), Novo Nordisk Denmark), Ypsomed Holding AG (Switzerland), B. Braun Melsungen AG (Germany), HTL-Strefa S.A. (Poland), Terumo Corporation (Japan), Artsana S.p.a (Italy), Owen Mumford Ltd (U.K.), Allison Medical, Inc. (U.S.), and Ultimed, Inc. (U.S.).
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