Global Pen Needles Market Growth 2019-2024

Insulin Pen needles are used in conjunction with injection pens to deliver injectable medications into the body. An insulin pen needle consists of a hollow needle which is embedded in a plastic hub and attaches to injection pens. Pen needles come in a variety of needle lengths and diameters and are used by both health professionals and patients for injection of a variety of medications. They are commonly used by people with diabetes who often require multiple daily insulin injections.
After several months of survey and research, research group obtains the following conclusions:

1. In the last several years, Global market of Insulin Pen Needles developed rapidly, with an average growth rate of 4.87%. In 2016, Global Revenue of Insulin Pen Needles is nearly 1456 M USD; the actual production is about 12333 M Unit.

2. The global average price of Insulin Pen Needles is in the decreasing trend, from 121.7 USD/K Unit in 2012 to 118.0 USD/K Unit in 2016. With the situation of global economy, prices will be in decreasing trend in the following five years.

3. The classification of Insulin Pen Needles includes Standard Insulin Pen Needles and Safety Insulin Pen Needles, and the proportion of Standard Insulin Pen Needles in 2016 is about 95%, and the proportion is in decreasing trend from 2012 to 2016.

Insulin Pen Needles is widely used for Home and Medical Institutions. The most proportion of Insulin Pen Needles is for home use, and the proportion in 2016 is about 92%.

4. North America is the largest supplier of Insulin Pen Needles, with a production market share nearly 43.5% in 2016. Europe is the second largest supplier of Insulin Pen Needles Media, enjoying production market share nearly 38.7% in 2016.

5. Europe is the largest consumption place, with a consumption market share nearly 41% in 2016. Following Europe, North America is the second largest consumption place with the consumption market share of 30%.

6. Market competition is not intense. BD, Novo Nordisk, Artsana, B. Braun, Terumo, Ypsomed, etc. are the leaders of the industry, and they hold key technologies and patents, with high-end customers; have been formed in the monopoly position in the industry.


According to this study, over the next five years the Pen Needles market will register a 4.9% CAGR in terms of revenue, the global market size will reach US$ 1940 million by 2024, from US$ 1530 million in 2019. In particular, this report presents the global market share (sales and revenue) of key companies in Pen Needles business, shared in Chapter 3.

This report presents a comprehensive overview, market shares, and growth opportunities of Pen Needles market by product type, application, key manufacturers and key regions and countries.

This study considers the Pen Needles value and volume generated from the sales of the following segments:

Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.
Standard Insulin Pen Needles
Safety Insulin Pen Needles
Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.
Home Use
Medical Institutions
Others

This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Spain
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in in Chapter 3.
BD
Novo Nordisk
Artsana
B. Braun
Terumo
Ypsomed
Owen Mumford
HTL-Strefa
Beipu
Kangdelai
Ulticare
Allison Medical
Dongbao

In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.

Research objectives
To study and analyze the global Pen Needles consumption (value & volume) by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of Pen Needles market by identifying its various subsegments.
Focuses on the key global Pen Needles manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Pen Needles with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the consumption of Pen Needles submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.