The global ”insulin pen needles market” is set to exhibit progressive growth owing to the increasing prevalence of diabetes among patients, observes Fortune Business Insights™ in an upcoming report, titled, “Insulin Pen Needles Market Size, Share & Industry Analysis, By Product Type (Standard Insulin Pen Needle, Safety-engineered Insulin Pen Needle), By Application (Type I Diabetes, Type II Diabetes), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies & Drug Stores, Online Pharmacies) and Regional Forecast 2020-2027.”

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Drivers & Restraints-

Increasing Cases of Diabetes Globally to Drive Growth

The increasing instances of diabetes among patients is estimated to drive the growth of the global insulin pen needles market. For instance, according to the World Health Organization (WHO), the number of patients suffering from diabetes increased from 108 million in 1980 to 422 million in 2014. In addition, the enhancing technological development of insulin pens globally is anticipated to promote firm growth. However, the high costs associated with insulin pens may hinder the growth in the near future.

Regional Insights-

Rising Patient Pool of Diabetes in U.S. to Help North America Lead

North America is projected to dominate the global insulin pen needles market. Rising cases of diabetes in the region is the major factor responsible for the steady growth. For instance, as per the National Diabetes Statistics Report, 2020, the number of patients with diabetes in the U.S. has reached 34.2 million.

The Europe insulin pen needles market is estimated to grow substantially in the forecast period. The rising geriatric population is one of the major factors driving the growth in the region. In addition, increasing awareness regarding insulin pens is anticipated to further strengthen this growth.

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Industry Developments-

  • In January 2019, Becton, Dickinson and Company received the FDA approval for its second generation of BD nano pen needle, which is designed for more reliable subcutaneous injection depth.
  • In May 2018, Hindustan Syringes & Medical Devices (HMD) launched India’s first Dispovan insulin pen needle to provide more comfort to people suffering from diabetes.

A List of Key Manufacturers Operating In the Insulin Pen Needles Market Report:

  • Becton, Dickinson and Company (BD)
  • Novo Nordisk A/S
  • Owen Mumford Inc.
  • VOGT Medical
  • HTL-STREFA, Inc.
  • YPSOMED
  • Others

What are the key segments in the market?

Insulin Pen Needles Market Segmentation :

By Product Type

  • Standard Insulin Pen Needle
  • Safety-engineered Insulin Pen Needle

By Application

  • Type I Diabetes
  • Type II Diabetes

By Distribution Channel

  • Hospital Pharmacies
  • Retail Pharmacies & Drug Stores
  • Online Pharmacies

By Geography

  • North America (USA, Canada)
  • Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, Rest of Latin America)
  • Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)

    With tables and figures helping analyse worldwide Global insulin pen needles Market Forecast provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.

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