Lucintel Forecasts Pen Needle Market to Reach $6.2 Billion by 2028

Category: Business

According to the recent study the pen needle market is projected to reach an estimated $6.2 billion by 2028 from $3.5 billion in 2023, at a CAGR of 12.0% from 2023 to 2028. Growth in this market is primarily driven by growing preference for pen needles over syringes and bottles along with increasing prevalence of chronic diseases and shifting towards minimally invasive surgery. A more than 150 – page report is developed to understand trends, opportunities and forecast in pen needle market by product (standard pen needles and safety pen needles), therapy (insulin, glucagon-like-peptide-1, and growth hormone therapy), and region (North America, Europe, Asia Pacific, and the Rest of the World). Download sample report by clicking on below link https://www.lucintel.com/pen-needle-market.aspx “Standard pen needles market is expected to remain the largest segment during the forecast period.” Based on product, the pen needle market is segmented into standard pen needles and safety pen needles. Lucintel forecasts that the standard pen needles market is expected to remain the largest segment because it is used by diabetic patient on daily basis and these needles are most often used at homes. “Within the pen needle market, the insulin segment is expected to remain the largest therapy” Based on therapy the insulin segment is expected to witness the highest growth over the forecast period due to rising awareness of self-administration of insulin and possess the ability to decrease patients' blood glucose levels. “Asia pacific will dominate the pen needle market in near future” APAC will remain the largest region due to increasing health expenditure and rising prevalence of the diabetes in this region. Download Brochure of this report by clicking on https://www.lucintel.com/pen-needle-market.aspx Major players of pen needle market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Novo Nordisk, Becton Dickinson and Company, Terumo Corp, Owen Mumford, Ypsomed, B. Braun Melsungen, HTL-STREFA, UltiMed, Allison Medical, and Artsana S.p.A are among the major pen needle providers. This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/pen-needle-market.aspx or helpdesk@lucintel.com