Pen Needles Market Opportunities, Specifications and Business
Overview Forecasts To 2025
“The Global Pen Needles Market size is anticipated to grow at a CAGR of more
than 13.0% during the forecast period.”
Industry Insights
The Global Pen Needles Market was valued at USD 1.5 billion in 2015, which is projected to grow at a CAGR of
more than 13.0% during the forecast period. Rising prevalence of diabetes has led to the rise in demand of pen
needles. According to the WHO, in 2014, 422 million people had diabetes and it is estimated that it would be
the 7th leading cause of death in 2030. With the increase in population of this disorder, the market is estimated
to grow rapidly over forecast period. The rising number of overweight or obese people also contributes to the
growth of the market. According to the Diabetes. Co. UK, obesity accounts for 80% to 85% chances of developing
type 2 diabetes. Excess abdominal fat, increases the chances of having this type of disorder.
Pen needles helps in easy delivery of drug to the patient. They are used in conjunction with insulin pens because
of its accuracy in dosage delivery and can be easily used visually impaired and elderly people.
Technological advancements in pen needles are further expected to drive market growth. The market players
are majorly focusing on developing new products with respect to the length of the needle. Short length pen
needles can be easily used by everyone including overweight, children, and the patient with phobia of needles.
For instance, in 2014, Novo Nordisk made NovoFine Plus, the thinnest and shortest needle commercially
available in the U.S.
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