Global Pen Needles Market Report 2024-2034: Regional Analysis by Product, Needle Length, Therapy, and Distribution Channel Featuring Novo Nordisk, Terumo Corp, and Roche Diabetes Care Among Others

Dublin, March 13, 2024 (GLOBE NEWSWIRE) -- The "Global Pen Needles Market Analysis & Forecast to 2024-2034" report has been added to * ResearchAndMarkets.com's* offering.

The global pen needles industry has embarked on a remarkable growth trajectory, with a projected CAGR of 11.95% between 2024 and 2034. As diabetes prevalence escalates worldwide, the market for these essential devices has reached an estimated USD 4.38 billion in 2023 and is poised to ascend to an impressive USD 15.16 billion by 2034. These figures underscore an urgent and increasing demand within the medical device sector, particularly for user-friendly insulin administration methods.

*Technological Breakthroughs and Product Innovation Drive Market Expansion*

Pivotal advancements continue to reshape the industry, with progressive products like the Cyltezo Pen, which garnered FDA approval in May 2023, exemplifying how technological innovation fuels market prosperity. The influx of advanced products with regulatory endorsement signals a brighter future for patients requiring chronic inflammatory disorder treatments. Safety concerns have shaped consumer preferences, with the ongoing adoption of standard pen needles primarily due to their ease of use and disposability. Latest developments in safety pen needles are forecast to further invigorate the market, stimulated by product distinctions that cater to patient well-being, such as the pioneering Tezspire self-administration pen approved for severe asthma.

*Market Segmentation: Focal Point of Analysis*

The deep-dive report encompasses various market facets, dissecting the global landscape into key segments:

· *Product* (Safety and Standard Pen Needles),
· *Needle Length* (from 4mm up to 12mm),
· *Therapy* (including Insulin and GLP-1), and
· *Distribution Channel* (spanning Online Providers to Hospital Pharmacies).

*Regional Dominance and Fastest Growing Markets*

The burgeoning North American region leads in market share, buoyed by heightened disease prevalence and reinforced by government-backed diabetes research and care initiatives. Meanwhile, Asia-Pacific is identified as the fastest-growing segment, leveraging heightened awareness and an increasing diabetic population to drive demand for pen needles.

*Focus on Diabetes Management and Distribution Advancements*

Trends in drug stores & retail pharmacies highlight the accessible nature of pen needle purchases, with advancements such as Ypsomed AG's new production facility set to bolster supply channels. Concurrently, online providers are gaining momentum due to their convenience and ability to bypass traditional retail impediments. The pen needles market report outlines the integrative, comprehensive, and strategic analysis of the market from 2023 through to 2034. It provides an in-depth examination of the various drivers, restraints, opportunities, and trends affecting the industry's growth, painting a clear picture of what the future holds for stakeholders within the global healthcare landscape.

*Key Attributes*

*Report Attribute* *Details*
No. of Pages 200
Forecast Period 2023-2034
Estimated Market Value (USD) in 2023 $4.38 Billion
Forecasted Market Value (USD) by 2034 $15.16 Billion
Compound Annual Growth Rate 11.9%
Regions Covered Global

*Companies Mentioned*

· Novo Nordisk A/S
· Terumo Corp.
· Roche Diabetes Care
· Eli Lilly and Company
· Ypsomed
· B. Braun Melsungen AG
· Allison Medical Inc.
· Becton
· Dickinson and Company
· Artsana S.p.A.
· UltiMed Inc.
· Owen Mumford Ltd.
· HTL-STREFA

For more information about this report visit https://www.researchandmarkets.com/r/5jomab

*About ResearchAndMarkets.com*
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*Attachment*

· Global Pen Needles Market

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