Pen needles are used alongside injection pens to deliver injectable medicinal capsules into the body. A pen needle includes a whole needle that is embedded in a plastic hub and attaches to injection pens. They will be normally utilized by humans with diabetes who regularly require multiple every day insulin injections.
Pen needles, in an evaluation of fashionable syringes and vials, offer an available, less complex and further accurate dosage. Such needles do no longer require to be pushed through the rubber vial stopper and as a result, will be predisposed to preserve their sharpness and lubrication.
Asia-Pacific pen needles market is expected to reach USD 0.76 billion by 2023 from USD 0.4 billion in 2018, developing at a CAGR of 14.10% for the following five years 2018-2023.
Drivers and Restraints:
The rise within the incidence of diabetes has driven greater people to take insulin, which can be self-administered the use of an insulin pen. Developments within the era, developing interest among most people credited to the numerous healthcare conferences and seminars, and government help to ensure countries, collectively with favorable compensation guidelines, are a spread of things raising the market growth.
But, reuse of pen needles, the presence of opportunity drug shipping techniques, and terrible accessibility of pen needles over traditional syringes and vials are restraining the growth of the market.
On the premise of geographical areas, Asia-Pacific pen needles market is segmented as Japan, China, and India. Japan is anticipated to account for the most important share of the Asia-Pacific pen needles market in 2018, whereas India is expected to develop at the best CAGR at some point of the forecast period 2018-2023.
The key players of the market include Becton, Dickinson and Company (U.S.), Novo Nordisk A/S (Denmark), and Ypsomed Holding AG (Switzerland) are the major players accounting for major share of the Asia-Pacific pen needles market in 2018. Other players include UltiMed, Inc. (U.S.), Allison Medical, Inc. (U.S.), Owen Mumford, Ltd. (U.K.), B. Braun Melsungen (Germany), Artsana S.p.a. (Italy), HTL-STREFA S.A. (Poland), and Terumo Corporation (Japan), among others.
Scope of the report
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