Pen Needles Market is expected to grow at a CAGR of 11.5% during the forecast period

(IT-NEWSWIRE.COM, January 18, 2023 ) As per Maximize Market research, a global business research and consultancy firm, the total global market for “Pen Needles Market” was USD 1.5 Bn in 2021 and is expected to grow at CAGR of 11.5 percent over the forecast period to reach USD 3.5 Bn by 2029

Pen Needles Market Scope and Research Methodology

The Pen Needles market report guides investors, stakeholders, decision-makers, and other market participants about the current and upcoming trends in the market. It is a very helpful resource that helps them in becoming familiar with all the factors influencing the growth of the global Pen Needles market. By using SWOT analysis and other market assessments, a clear and detailed analysis of key players is provided in the report. The report covers every important aspect of the market with an analysis of important competitors, which includes market leaders, followers, and new entrants. The strategic profiles of the top market participants are also included in the Pen Needles market report.

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Pen Needles Market Dynamics

Nowadays, as diabetes is becoming more common, the demand for pen needles is increasing. The demand for pen needles is also driven by chronic diseases that have become far more common these days. Even though pen needles are the convenient and hassle-free way to administer medication, they are linked to hyperglycemia, discomfort and infections from needlesticks, which is expected to limit the market growth.

Pen Needles Market Regional Insights

In 2021, the Europe region held the highest revenue share of 40%. The major reason for the market growth is the increasing obesity rates and inactive lifestyles of the region. Asia Pacific region is also expected to grow at a high CAGR during the forecast period due to the obesity rates, diabetes prevalence and other lifestyles problems that are all on the rise.

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Pen Needles Market Segmentation

By Product

Standard Pen Needles

Safety Pen Needles

By Needle Length

4 mm

5 mm

6 mm

8 mm

10 mm

12 mm

By Therapy

Insulin

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

Growth Hormone

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Pen Needles Market Key Competitors include:

Becton

Dickinson and Company

Novo Nordisk A/S

Ypsomed Holding AG

Braun Melsungen AG

Owen Mumford

Terumo Corporation

Nipro Corporation

Allison Medical

AdvaCare Pharma

Berpu Medical Technology

Maximize Market Research is leading Medical Devices research firm, has also published the following reports:

Laser Therapy Devices Market - The market size is expected to reach USD 13.77 billion by 2029 at a CAGR of 9.32 percent during the forecast period. The market is expected to be driven by the high adoption of technologically advanced aesthetic lasers.

Disposable Endoscopes Market - The market size is expected to reach USD 20.97 billion by 2029 at a CAGR of 17.25 percent during the forecast period. The market is expected to be driven by the growing prevalence of infectious diseases.

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Pen Needles Market is expected to grow at a CAGR of 11.5% during the forecast period