Asia Pacific Pen Needles Market - Size
Base Year For Estimation
2023
Forecast Data Period
2024-2030
Historical Data Period
2018-2021
Source: Envision Intelligence Analysis & Experts Insights.
*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels
Insulin pens have an attached insulin cartridge rather than using a syringe and separate vial. Pens contain cartridges that last somewhere between 2-4 weeks and must be disposed of after expiration or when empty. Insulin pens require insulin pen needles that are replaceable and need to be changed and disposed of after each injection. Pen needles are usually thin and short, between 4-6 mm, for optimum comfort.
Asia-Pacific Pen Needles Market Segments Size & Growth:
Asia-Pacific Pen Needles Market size is projected to reach approximately $0.67 billion by the end of 2024 with a CAGR of close to 14.15% from $0.36 billion in 2017 during the forecast timeline 2018-2024. Key parameters promoting the market growth include rising diabetes prevalence, a comparative advantage over syringes and vials, technological advancements, increasing awareness of the general public, government support in certain countries. However, reusability of pen needles, complications associated with needle use, availability of alternative dosage forms, poor reimbursement policies in underdeveloped and developing countries are thereby hampering the market growth.
Asia-Pacific Pen Needles Market Segments Share:
Asia-Pacific Pen Needles Market is categorised into therapy which comprises growth hormone, Insulin, and GLP-1. Among them, insulin therapy segment is expected to hold the
Asia Pacific Pen Needles Market - Growth
Source: Envision Intelligence Analysis & Experts Insights.
*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels
largest share in the market. On the basis of Type, the market is segmented into standard pen needles and safety pen needles. Among them, standard pen needles segment is expected to account for the largest share in the pen needles market because of rising prevalence of diabetes and dysfunctionality of pancreas. On the basis of Needle Length, the market is segmented into 4mm, 6mm, 8mm, 10mm, and 12mm. Among them, 8mm needle length segment is expected to hold for the largest share in the market. On the basis of Material, the market is segmented into glass needles, plastic needles, stainless steel/metallic needles, and polyetheretherketone (PEEK) needles. On the basis of Mode of Purchase, the market is segmented into retail and non-retail. Among them, retail purchase mode segment is expected and growth prospects.
Asia-Pacific
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Asia Pacific Pen Needles Market - Porter's Five Force Analysis
Source: Envision Intelligence Analysis & Experts Insights.
*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels
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