Market World Pen Needles Market Opportunities | Page 3

Therapy Insights
On the basis of therapy, insulin therapy dominated the market in 2016 and expected to witness lucrative growth
over forecast period. This is due to increasing number of patients with diabetes and increasing level of
awareness about self-administration amongst type 1 and type 2 diabetes.
GLP-1 therapy is also expected to showcase lucrative growth over the forecast period as it can be used to
enhance the glucose control in the adults with type 2 diabetes. Several companies such as Novo Nordisk are
focusing on expanding the market of GLP-1.
Regional Insights
In 2016, Europe dominated the market because of the growing prevalence of diabetes in the region. According
to Diabetes UK, 4 million people are found to be suffering with diabetes. Moreover, the UK government is taking
initiatives to raise awareness among people and invest in diabetes care and research so that better treatment
techniques and facilities are available for diabetic patients.
Asia Pacific is expected to witness fastest growth over the forecast period owing to rising awareness about
availability of technologically advanced products for treatment of diabetes. The changing lifestyle of people has
also led to the increase in number of people with type 2 diabetes.
Competitive Insights
Some of the major companies of this market are TERUMO CORPORATION; Novo Nordisk A/S; B. Braun
Melsungen AG; Becton Dickinson and Company; Ypsomed, UltiMed, Inc.; Artsana S.p.a.; HTL-STREFA; and Allison
Medical.
In order to fulfill the unmet needs of the patients with diabetes, most of the companies go for regional
expansion, development of new products with improvised technology and mergers & acquisitions. For instance,
in 2013, the launch of BD Autoshield Duo Safety Pen Needle by Becton Dickinson and Company in UK and Ireland
aimed at minimizing needle stick injuries in those countries.
Market Segment:
Pen Needles Product Outlook (Revenue, USD Million; 2014 - 2025)
• Standard Pen Needles
• Safety Pen Needles