Insulin Pen Needles Market Value to Reach US$ 3,800 Million by the End of 2026
Albany, NY -- (SBWIRE) -- 01/23/2018 -- A new comprehensive report based on insulin pen needles titled "Insulin Pen Needles Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2026" has recently been added to the database of Market Research Reports Search Engine (MRRSE). According to the report, a value of US$ 3,800 Mn is projected to be generated by the global insulin pen needles market by the end of 2025.
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According to the report, the global insulin pen needles market is likely to be driven by rising government support for curbing the menace of diabetes globally. The use of insulin pen needles in diabetes management and care is likely to provide an impetus to the growth of the market. In addition to diabetes, rising prevalence of HIV and hepatitis is also likely to provide an impetus to the growth of the market during the assessment period.
Although the insulin pen needles market is likely to grow at a steady pace during the assessment period, preference for non-invasive treatment options is a major challenge for manufacturers. Over the years, there has been a gradual shift towards non-invasive methods, and this has forced manufacturers to make gradual changes to their offerings.
Insulin pen needles are sold widely in many parts of the globe, and in many price sensitive countries, the standard insulin pen needles remain the highest selling. The standard insulin pens and needles segment is likely to account for a value of over a US$ 1 Bn by the end of 2026.
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By distribution channel, online sales has emerged as a lucrative channel, with many vendors tying up with e-commerce companies to boost sales. The online sales segment is likely to grow at a robust pace during the assessment period. The hospital pharmacies distribution channel continues to be the largest distribution channel, and the status quo is unlikely to change during the assessment period. Sales of insulin pens and needles through hospital pharmacies have traditionally accounted for a leading revenue share of the total sales of a vendor.
The companies are profiled in terms of company overview, key financials, product overview and SWOT analysis. Some of the major companies profiled are Becton, Dickinson and Company, Terumo Corporation, Novo Nordisk A/S, Braun Melsungen AG, Owen Mumford Limited, Perrigo Co. Plc, HTL-STREFA S.A., UltiMed, Inc., VOGT MEDICAL VERTRIEB GMBH and MedExel Co., Ltd. Overall, the report is a comprehensive source of information and analysis on the insulin pen and needles market.
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