Growth in the Pen Needles Market is mainly driven by factors such as the growing prevalence of chronic diseases and the favorable reimbursement scenario in selected countries. The growing preference for biosimilar drugs is another factor providing a wide range of growth opportunities for key players in the market.
The Global Pen Needles Market is expected to reach $3.4 billion, at a CAGR of 11.0% during the forecast period.
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Pen Needles Market segmentation:
· based on products
· based on diseases
· based on techniques,
· based on end users
· based on regions.
The Major Players Operating in the Pen Needles Market:
The key players in the Pen Needles Market are Becton, Dickinson and Company (US), Novo Nordisk A/S (Denmark), Ypsomed Holding AG (Switzerland), B. Braun Melsungen AG (Germany), HTL-STREFA S.A. (Poland), Terumo Corporation (Japan), and Owen Mumford (UK).
Becton, Dickinson, and Company is a leading company in the field of drugs delivery systems. The company is a pioneer in the field of Pen Needles. The company operates in the US, Europe, EMA (which includes the Commonwealth of the Independent States, the Middle East, and Africa), Greater Asia, Latin America (which includes Mexico, Central America, the Caribbean, and South America), and Canada. The company has a strong product portfolio and focuses on product launches. For instance, the company launched BD Ultra-Fine micro pen needle 6mm x 32G and BD AutoShield Duo in 2017.
Geographical Detailed Analysis for Pen Needles Market:
Europe dominated the Market in 2018
Europe is expected to dominate the Pen Needles Market in 2018. The large share of the European Market can primarily be attributed to the high diabetes expenditure and reimbursement in Germany, NHS support and access to Pen Needles at a subsidized cost in the UK, high insurance coverage in France, and supportive regulations in Spain.
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