DUBLIN, June 13, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Global Pen Needles Market 2017-2021" report to their offering.
The global pen needles market to grow at a CAGR of 10.06% during the period 2017-2021.
The report covers the present scenario and the growth prospects of the global pen needles market for 2017-2021. To calculate the market size, the report considers the revenue generated from sales of pen needle products. The report also includes a discussion of the Key vendors operating in this market.
The latest trend gaining momentum in the market is technological advances in non-invasive techniques. The incidence of diabetes is rising significantly, which drives the demand for pen needles market. The development of novel non-invasive routes of insulin administration promises to further improve diabetes management. The key barriers to initiating insulin therapy include the need for frequent insulin injection, fears that insulin injections will be painful and difficult to administer, and concerns about hypoglycemia and weight gain.
According to the report, one of the major drivers for this market is increasing preference for pen needles over syringes and vials. Pen needles are an integral part of diabetes treatment for patients who require injectable therapies. These pen needles are used for delivering specific drugs or collecting samples such as fluids and cells from organs or lumps. They are available with various advanced features, shapes, and sizes.
The global market for pen needles is showing a steady growth owing to an increasing older population, and the shift toward less and non-invasive procedures is increasing its popularity worldwide. Pen needles have several advantages over the traditional vial-and-syringe method of insulin delivery including improved patient satisfaction and adherence, greater ease of use, superior accuracy for delivering small doses of insulin, greater social acceptability, and less reported injection pain.
Further, the report states that one of the major factors hindering the growth of this market is shortage of endocrinologists. The prevalence of the non-communicable diseases such as diabetes is increasing. In 2014, according to OECD, 380 million people had diabetes worldwide. However, there is a severe worldwide shortage of endocrinologists, which has been exacerbated by the exploding growth in diabetes and obesity. Currently, only 6,869 endocrinologists are present in the US. Although this marks an increase over past decades, it is insufficient to serve the demand. Therefore, the shortage of experts increases the risk of error and negligence in the use of pen needles.
- Novo Nordisk
- B. Braun
Other prominent vendors
- Allison Medical
- Beipu Medicals
- Henso Medical
- Menarini Diagnostics
- Owen Mumford
- Simple Diagnostics
- Stat Medical
- Trividia Health
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Research Methodology
Part 04: Introduction
Part 05: Market landscape
Part 06: Market segmentation by product
Part 07: Market segmentation by therapy
Part 08: Market segmentation by end-user
Part 09: Geographical segmentation
Part 10: Decision framework
Part 11: Drivers and challenges
Part 12: Market trends
Part 13: Vendor landscape
Part 14: Key vendor analysis
Part 15: Appendix
For more information about this report visit http://www.researchandmarkets.com/research/xh33pn/global_pen
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SOURCE Research and Markets