Europe 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
Pen needles when compared to traditional syringes and vials, provide a convenient, easier and more accurate dosage. Those needles do not require to be pushed through the rubber vial stopper and thus tend to retain their sharpness and lubrication. 1.9 Billion Insulin syringes are used in the European Region every year. Such needles, on account of accidental strokes, possess a high risk of secondary infections, which can be reduced by the use of pen needles.
Europe Pen Needles Market Segments Size & Growth:
Europe Pen Needles Market size is projected to reach approximately $0.89 billion by the end of 2024 with a CAGR of close to 10.02% from $0.56 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.
Europe Pen Needles Market Segments Share:
Europe Pen Needles Market is categorised into therapy which comprises growth hormone, Insulin, and GLP-1. Among them, insulin therapy
Europe 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
segment is expected to hold the 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 to hold the largest share in the market. On the basis of Type of Therapy, the market is segmented into glucagon-like peptides, insulin, growth hormones, others. On the basis of End-Users, the market is segmented into hospitals, Diagnostic Centers, home healthcare, and others. On the basis of Geography, Germany is projected to hold for the largest share because of huge profit
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Europe 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
margins and growth prospects.
Europe Pen Needles Market Trends:
- Novo Nordisk is planning to launch a new product called flex pro, the device is designed to hide the needle injecting Norditropin into patients. Norditropin is used for children and adolescents.
- Becton, Dickinson, and Company announced the introduction of the BD Ultra-Fine micro pen needle 6mm x 32G for use with leading pen injection devices.
Europe Pen Needles Market Research Report:
An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.
To have complete market analysis, industry value chain analysis, Porter’s Five Force Analysis, PESTLE, SWOT analysis, and Y-o-Y analysis were carried to understand the market more comprehensively.
Regional and global diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year
Identifying DROC in the current market and their impact in altering the market dynamics.
Competitive landscape analysis to identify the mergers and acquisitions which will have a comparative financial study with significant competitors.
Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.
The major market players, such as
- Becton, Dickinson, and Company
- Novo Nordisk A/S
- Ypsomed Holding AG
- Smiths Medical
- Allison Medical, Inc.
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