Pune, India -- (SBWIRE) -- 08/08/2018 -- The pen needles market is highly fragmented with various companies operating in local regions. The report includes company share data for different geographies including North America, Europe, South America and Asia Pacific.

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Some of the major players in the global market include:

- Becton, Dickinson and Company
- ADW Diabetes
- Novo Nordisk
- A.Menarini Diagnostics
- Ulticare
- Ypsomed Holding AG
- Facet Technologies
- B. Braun Melsungen AG
- Shanghai Neo-Medical Co. Ltd
- HTL-Strefa S.A.
- Frank Healthcare Co., Ltd
- Stat Medical Devices, Inc.
- Terumo Corporation
- Domrex Pharma Inc.
- Vogt Medical Vertrieb GmbH
- Artsana S.p.a
- Eli Lilly
- Owen Mumford Ltd
- KD Medical GmbH Hospital Products
- Allison Medical, Inc.
- Digital Medics Pty Ltd
- Ultimed, Inc.
- Among others.

Market Overview:

The global pen needles market has accounted for USD 1.9 billion in 2016, and is expected to reach USD 4.5 billion by 2024 growing at a CAGR of 11.6% in the forecast period of 2017 to 2024. The new market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.

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Market Segmentation:

Based on product type:

- Standard
- Safety Pen Needles

On the basis of usability:

- Disposable
- Reusable Pen Needles

Based on product length:

- Nano Length
- Medium Length
- Long Length

On the basis of application:

- Diabetes
- Growth Hormone Deficiency
- Others

Based on end-user:

- Hospitals
- Clinics
- OTC
- Home Healthcare
- Others

Based on the drug therapy:

- Insulin
- Glucagon-Like Peptide-1
- Growth Hormones

Based on geography:

- North America
- Europe
- Asia-Pacific
- South America
- Rest of the world

Global Pen Needles Market:

Insulin pens are the easiest and safest way to deliver insulin. Insulin pens are basically used with pen needles, which are gaining popularity every day over conventional insulin delivery methods. The usage of pen needles in insulin delivery is increasing owing to its benefits such as more convenient as can be used while travelling, easier to use and can be handled by any one, dosage given is more accurate, pain free and better discretion. The global pen needles market is expected to grow significantly owing to rising prevalence of diabetes and other chronic diseases. There is a shortage of trained professionals in developed countries which is encouraging patients to use self-use products such as pen needles. According to the Center of Disease Control (CDC) in 2015, 11.9% of the U.S. population is suffering from diabetes which is increasing at 0.7% each year, however 83.2% are physician diagnosed and the remaining remains undiagnosed. The major risk of diabetes is its comorbidities related mortality increasing every year. The pen needles market is also expected to grow owing to increasing reimbursements of these products in developing countries such as China, India, and Brazil among others.

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