Pen Needles Market Global Growth, Opportunities,
Industry Analysis and Forecast to 2025
Global Pen Needles Market developed and published by Market Research Place provides a brief and detailed knowledge
about key players, market state and circumstances that are covered deeply in this report. The report will offer significant
assessments for the period between 2012 and 2022. The business chain supporting the Pen needles market is analyzed
in detail covering accurate information about aspects such as the industrial chain, proficiency in utilization of the
available capacity of manufacture, and industry strategies that affect the market.
The global pen needles market was valued at USD 1.5 billion in 2015, which is projected to grow at a CAGR of more than
13.0% during the forecast period. Rising prevalence of diabetes has led to the rise in demand of pen needles. According
to the WHO, in 2014, 422 million people had diabetes and it is estimated that it would be the 7th leading cause of death
in 2030. With the increase in population of this disorder, the market is estimated to grow rapidly over forecast period.
The rising number of overweight or obese people also contributes to the growth of the marke t. According to the
Diabetes. Co. UK, obesity accounts for 80% to 85% chances of developing type 2 diabetes. Excess abdominal fat,
increases the chances of having this type of disorder.
Pen needles helps in easy delivery of drug to the patient. They are used in conjunction with insulin pens because of its
accuracy in dosage delivery and can be easily used visually impaired and elderly people.
Technological advancements in pen needles are further expected to drive market growth. The market players are
majorly focusing on developing new products with respect to the length of the needle. Short length pen needles can be
easily used by everyone including overweight, children, and the patient with phobia of needles. For instance, in 2014,
Novo Nordisk made NovoF