Global Insulin Pen Needles Market Overview:
The insulin pen needles are used for conjunction with injection like pens to infuse the medications into the body which is used by diabetic patients with a high level of glucose in the body. The insulin pen needles come embedded in a plastic hub which is attached to the injection pens. They are supposed to be removed after use and are advised not to be used repeatedly. These insulin pen needles are available in a variety of lengths and gauges and used by patients as well as professionals. Although they are mostly used by patients only who often require multiple doses of insulin injections, however, it should be used with proper care and knowledge to avoid pain and safety issues. Some of the key players profiled in the study are Becton, Dickinson, and Company (United States), Novo Nordisk A/S (Denmark), Artsana Group (Italy), B. Braun (Germany), Terumo Corporation (Japan), Montmed Inc. (Canada), Ypsomed Group (Switzerland), Owen Mumford Ltd, (United Kingdom), Pikdare S.p.A (Italy), HTL-STREFA Inc. (Poland), UltiMed Inc. (United States) and Allison Medical Inc. (United States).
On the basis of geography, the market of Insulin Pen Needles has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Length, the sub-segment i.e. 4 mm will boost the Insulin Pen Needles market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channels, the sub-segment i.e. Online Store will boost the Insulin Pen Needles market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Pen, the sub-segment i.e. Disposable will boost the Insulin Pen Needles market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Guage, the sub-segment i.e. 33G will boost the Insulin Pen Needles market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Rising Number of Diabetic Patients
- The Ease of Carrying the Medication and Supplies Need for a Diabetic Patients
- Growing Geriatric Population Across the World
- Prevalence of Diabetes in Children is Inducing Insulin Pen Needles Market
- Technological Advancements in Diabetic Care
- Bacterial Issues with reusing of Insulin Pen Needles
- Safety Related Risks Associated with Insulin Pen Needles
- Awareness about Diabetic Care will Boost Insulin Pen Needles Market
- Rising Spendings on Healthcare Sector
- Higher Cost of Insulin Pen Needles than the Vial and Syringe Method
Major Market Developments:
On 10th January 2020, Montmed Inc. announced that the United States Patent and Trademark Office has issued US patent 10,485,919 covering the company’s novel technology to help people easily and seamlessly develop and implement healthy injection site rotation practices. The patent covers a various range of marked devices, including the insulin pen needles in combination with a user-defined associations tool allowing the users to create and implement personalized injection site rotation plans and thus reducing the risk of developing lipohypertrophy.
On 14th January 2020, UltiMed, Inc. announced that its patented UltiGuard Safe Pack has been added to the Fear Free, LLC Preferred Product Program. It is the only insulin needle that combines premium quality human-grade syringes with a sharps container.
Insulin Pen Needles Manufacturers, Insulin Pen Needles International Traders, Insulin Pen Needles Distributors and Suppliers, Research and Development Institutes, Potential Investors, Upstream and Downstream Buyers, Hospitals, Regulatory Bodies and Others
Major Objectives Focused through this Study
To define, describe, and forecast the Global Insulin Pen Needles market on the basis of product [Standard Insulin Pen Needles and Safety Insulin Pen Needles] , application [Home Use, Hospitals and Clinics], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Insulin Pen Needles market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Insulin Pen Needles industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are Shanghai Beipu Medical Co., Ltd (China) and Zhejiang Kindly Medical Devices Co., Ltd (China).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Insulin Pen Needles market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.