Pen Needles Market Size Will Achieve USD 9.43 Billion by 2032 Growing at 11.7% CAGR-Exclusive Report by Emergen Research

Increasing prevalence of chronic disorders is a key factor driving market revenue growth

VANCOUVER, BC, CANADA, April 19, 2023 /EINPresswire.com/ — Emergen Research has recently published a comprehensive research study titled “Pen Needles Market is Growing Rapidly”, indicating a rising interest in Pen Needles research in the year 2023.

The global pen needles market size was USD 3.10 Billion in 2022 and is expected to register a steady revenue CAGR of 11.7% during the forecast period, according to latest analysis by Emergen Research. Increasing prevalence of diabetes is a key factor driving market revenue growth. According to the International Diabetes Federation (IDF), in IDF North America and Caribbean Region in 2021, 51 million adults (20-79) were diagnosed with diabetes. This number is expected to rise to 57 million by 2030. Impaired Glucose Tolerance (IGT) affects 47 million adults (20-79) in IDF North America and Caribbean region, putting them at high risk of developing type 2 diabetes.

In addition, rising demand for self-injected devices is another key factor driving market revenue growth. Self-injection devices, primarily pens used for subcutaneous biopharmaceutical delivery, are a growing segment of drug delivery device. Their significance is expected to increase in the future due to tendency towards biological medications that cannot be taken orally and rising prevalence of diabetes that has been observed globally. Need for self-injection devices is rising as a result of numerous new injectable that are anticipated to launch in the market in the upcoming years, as well as tendency to move treatment from clinic to home environment to save costs and improve patient’s comfort.

Needle anxiety for patients is a major factor restraining revenue growth of the pen needles market. Skin pricks and other sharp things can make people feel anxious. However, fear of having to inject with needles can, still exist. According to CDC, 1 in 4 people and up to 2 in 3 youngsters have severe phobias of needles.

To gain genuine analysis and a thorough understanding of the market, interested parties can request a sample of the report. https://www.emergenresearch.com/request-sample/1753

(The report sample includes a brief introduction to the research report, a table of contents, a graphical presentation of regional analysis, a revenue analysis of the top players in the market, and a detailed explanation of the research methodology.)

The sample report we provide may consist of the following elements:

An introduction to the updated report for the year 2030, including a comprehensive overview and in-depth industry analysis.

A 250+ page research report with updated research findings.

Chapter-wise guidance available upon request.

Updated regional analysis for the year 2023, presented with graphical representations of size, share, and trends.

An updated list of tables and figures included in the report.

The updated report includes a list of top market players, along with their business strategy, sales volume, and revenue analysis.

Important information in the market study

The research offers thorough analysis and futuristic insights into the industry in several different regions. See how the most important regional growth drivers and restraints will affect market development and gain a grasp of uncertainty.

In order to understand how the demand across various segments will change over the following few years, evaluate market size statistics and projections. Get a thorough understanding of new market trends and developments to evaluate market prospects.

➛ Learn more about the competition by having access to in-depth data and research on important industry players.

Novo Nordisk A/S, Becton Dickinson and Company, Terumo Corporation, Owen Mumford, B. Braun SE, Ypsomed Holding AG, UltiMed, Inc., Allison Medical, Inc., ARKRAY, Inc., and Artsana S.p.A.

Pen Needles Market – Segmentation Assessment

Product Outlook (Revenue, USD Billion; 2019-2032)

Standard Pen Needle

Safety Pen Needle

Length Outlook (Revenue, USD Billion; 2019-2032)

4mm

5mm

6mm

8mm

10mm

12mm

Therapy Outlook (Revenue, USD Billion; 2019-2032)

Insulin

Glucagon-like-Peptide-1 (GLP-1)

Growth Hormone

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Regional Analysis:

» North America: United States, Canada, and Mexico

» South & Central America: Argentina, Chile, Brazil and Others

» Middle East & Africa: Saudi Arabia, UAE, Israel, Turkey, Egypt, South Africa & Rest of MEA.

» Europe: UK, France, Italy, Germany, Spain, BeNeLux, Russia, NORDIC Nations and Rest of Europe.

» Asia-Pacific: India, China, Japan, South Korea, Indonesia, Thailand, Singapore, Australia and Rest of APAC.

High point the Following Key Factors:

Business description: A detailed overview of the company’s operations and business departments.

Company strategy: A summary of the company’s business strategy provided by the analyst.

SWOT analysis: A detailed analysis of the company’s strengths, weaknesses, opportunities, and threats.

Company history: A summary of major events related to the company’s progress.

Main products and services: A list of the company’s main products, services, and brands.

Main competitors: A list of the company’s main competitors.

Important locations and subsidiaries: A list of the company’s main locations and subsidiaries with contact information.

Detailed financial ratios of the past five years: Latest financial ratios obtained from the annual financial statements of companies with a history of five years.

The Emergen Research study is expected to provide the following benefits:

Latest industry trends and development scenario for 2023

Identification of powerful market opportunities to help with market sizing

Key decision-making insights for planning and expanding market share

Identification of key business segments, market proposition, and gap analysis

Assistance in allocating marketing investments

Updated methodology from Emergen Research to ensure accurate and reliable findings.

Global Pen Needles Market Definition and Scope

2.1. Objective of the Study

2.2. Market Definition & Scope

2.2.1. Scope of the Study

2.2.2. Industry Evolution

2.3. Years Considered for the Study

2.4. Currency Conversion Rates

Global Pen Needles Market Dynamics

3.1. Pen Needles Market Impact Analysis (2020-2030)

3.1.1. Market Drivers

3.1.2. Market Challenges

3.1.3. Market Opportunities

Global Pen Needles Market Industry Analysis

4.1. Porter’s 5 Force Model

4.1.1. Bargaining Power of Suppliers

4.1.2. Bargaining Power of Buyers

4.1.3. Threat of New Entrants

4.1.4. Threat of Substitutes

4.1.5. Competitive Rivalry

4.1.6. Futuristic Approach to Porter’s 5 Force Model (2020-2030)

4.2. PEST Analysis

4.2.1. Political

4.2.2. Economical

4.2.3. Social

4.2.4. Technological

4.3. Investment Adoption Model

4.4. Analyst Recommendation & Conclusion

➟ What is the primary factor driving the global Pen Needles market?

➟ What are the market’s restricting factors?

➟ Who are the major market participants?

➟ Which region has the greatest market share?

➟ What are the most current global Pen Needles market trends?

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Why Choose Emergen Research ?

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions.

 We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

Eric Lee
Emergen Research
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