Luton, Bedfordshire, United Kingdom, Feb. 17, 2023 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Pen Needles Market.
Growing at a CAGR of 12%, the global Pen Needles Market is valued at USD 1.9 billion in 2023 and is projected to reach USD 2.75 billion by the end of 2029
Market Overview:
Pen needles used for subcutaneous injections are becoming progressively shorter, thinner, thinner-walled, and less robust to patient reuse. Therefore, different needle sizes, alternative tip designs, and reusable-like needles were tested to investigate how needle design affects ease of insertion, pain, and skin trauma. it was done. Study Design and Methods: Thirty subjects with her injectable type 2 diabetes and body mass index between her 25 and 35 kg/m2(2) were included in a single-blind study. Each subject was inserted into the abdomen using 18 different needles.
Needle diameter was positively related to PF and SBP (p<0.05) and with a positive pain trend relation. Lack of needle lubrication and small ‘needle hooks’ increased PF and SBP (p<0.05) but did not affect pain. Short-tip, obtuse needle grinds affected PF and SBP, but pain was only significantly affected in extreme cases. PF in skin and in polyurethane rubber were linearly related, and pain outcome was dependent of SBP increase.
statistical analysis
Statistical analysis of data was performed using SAS JMPV.10.0.2 (SAS Institute, Cary, North Carolina, USA). Logarithmic scale differences were transformed back to the original scale as ratios. Data use subject, needle, area (left/right), and inserted field (AH) as fixed effects, injection order (not included in the model for SBP) as covariate, and needle x subject as random effect. To assess effect relationships, models were fitted with pain as response, subject as model effect, needle type, SBP and PF. The target is set as a random effect. A linear regression analysis was performed to compare PF in skin and PUR.
Final Report will add the analysis of the impact of COVID-19 on this industry.
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Key Insights
As per the analysis, the Pen Needles Market is likely to grow above a CAGR of around 12% between 2023 and 2029.
The Pen Needles Market size was worth around US$1.9 billion in 2023 and is estimated to hit approximately US$ 2.75 billion by 2029. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
North America dominates the pen needle market. Rising prevalence of diabetes and favorable reimbursement scenarios for pen needles, federal initiatives to raise awareness of injection technology, increased market penetration by major players, and development of improved pen needle technology are expected is driving the market growth.
Prominent Growth Drivers Impacting the Pen Needles Industry
Increased prevalence of chronic diseases
The prevalence of chronic diseases has increased significantly in recent years. Such diseases, such as diabetes, osteoporosis, cardiovascular disease (CVD), and multiple sclerosis, require daily or weekly drug administration, usually using an injection pen. In the rapidly growing market, pen injectors have become the new standard for injectable drug delivery systems. Their popularity has skyrocketed due to their simplicity, reliability, and the ability to be administered directly by the patient without the assistance of a doctor. A removable attachment, the pen needle, forms an integral part of the pen injector. Needle length and its sharpness are important to ensure that the drug reaches the target tissue. Therefore, the increasing prevalence of chronic diseases has increased the focus on pen needle technology to effectively treat the growing patient pool and increase patient compliance to treatment.
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Market Positioning of Key Vendors
Major companies active in the global Pen Needles industry include Becton, Dickinson and Company, Novo Nordisk, Ulticare, Ypsomed Holding AG, B. Braun Melsungen AG, Terumo Corporation, Owen Mumford Ltd., Allison Medical, Cambridge Sensors Ltd., Montmed Inc., and Stat Medical Inc. The market players have been on the way to adopting various kinds of organic and inorganic growth strategies, like new product developments and launches, acquisitions, and merger contracts.
Browse the full “Pen Needles Market by Type (Standard Pen Needles and Safety Pen Needles), Needle Length (4mm, 5mm, 6mm, 8mm, 10mm, and 12mm), Therapy, and Growth Hormones), and Mode of Purchase and by Region, Global trends and forecast from 2023 to 2029” Report at https://exactitudeconsultancy.com/reports/5584/pen-needles-market
Key Market Segments: Pen Needles Market
Pen Needles Market by Type, 2022-2029
- Standard Pen Needles
- Safety Pen Needles
Pen Needles Market by Needle Length, 2022-2029
- 4MM
- 5MM
- 6MM
- 8MM
- 10MM
- 12MM
Pen Needles Market by Therapy, 2022-2029
- Insulin
- Glucagon Like Peptide-1[Glp-1]
- Growth Hormones
Pen Needles Market by Mode of Purchase, 2022-2029
- Retail
- Non-Retail
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Regional Insights:
Europe dominated the global market with a sales share of approximately 38.0% due to the increasing prevalence of target diseases in the region. High patient numbers and high product prices are factors contributing to the large market share. Growing patient awareness and favourable reimbursement scenarios across the region are driving the adoption of advanced devices.
Report Scope:
| Report Attribute | Details |
| Market Size in 2023 | USD 1.9 billion |
| Projected Market Size in 2029 | USD 2.75 billion |
| CAGR Growth Rate | 12% CAGR |
| Base Year | 2022 |
| Forecast Years | 2023-2029 |
| Key Market Players | Becton, Dickinson and Company, Novo Nordisk, Ulticare, Ypsomed Holding AG, B. Braun Melsungen AG, Terumo Corporation, Owen Mumford Ltd., Allison Medical, Cambridge Sensors Ltd., Montmed Inc., and Stat Medical Inc, and others. |
| Key Segment | by Type, by Therapy, by Mode Of Purchase. |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Purchase Options | Request customized purchase options to meet your research needs. |
What does the report include?
- Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Cold Storage market analysis.
- The competitive environment of current and potential participants in the Cold Storage market is covered in the report, as well as those companies' strategic product development ambitions.
- According to the component, application, and industry vertical, this study analyses the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.
- For each segment mentioned above, actual market sizes and forecasts have been given.
To know an additional revised 2023 list of market players, With detailed TOC: https://exactitudeconsultancy.com/reports/5584/pen-needles-market/#table-of-content
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