According to the new market research report, "Pen Needles Market, by Needle Length, (4mm, 5mm, 6mm, 8mm, 10mm, and 12mm), Types (Safety Pen Needles, Standard Pen Needles), Therapies (Insulin, Growth Hormone, Glucagon-Like Peptide-1 Therapy) - Global Revenue, Trends, Growth, Share, Size and Forecast to 2022", published by Scalar Market Research, the global pen needles market is expected to grow at a CAGR of 11.4% from 2016 to 2022. At the aforementioned growth rate, the market is anticipated to reach USD 2.82 billion in 2022. In the year 2016, the pen needles market is expected to be worth USD 1.48 billion.
The global pen needles market report offers in-depth analysis of the market size (revenue), market share, major market segments, different geographic regions, key players, premium insights, technological advancements and forecast to 2022. It also focuses on the key drivers and opportunities in this market.
Buyers can expect to receive 100% customization on this report.
Key findings of the report:
The innovative developments in the pen needles market are expected to drive demand in the global market at an impressive rate during the forecast period.
The rapid technological advancements to increase the comfort and reduce the pain and the needle-stick wounds are attributed to increase the demand for the pen needles market during the next few years.
Apart from that, the factors like the changing reimbursement policies and the rapid rise in the number of geriatric population are also expected to play crucial role in the overall growth of the pen needles market during the forecast period.
Safety pen needles expected to grow at the fastest CAGR
According to the report, the safety pen needles segment is expected to dominate the types segment of the pen needles market. This segment of the global market is expected to grow at the fastest rate during the forecast period. However, the standard pen needles are expected to hold the largest share in the global market. The rapid advancements in the technology are attributed to the growth of this market during the forecast period.
Asia-Pacific expected to witness the fastest growth
According to the report, the Asia-Pacific region is expected to grow at the fastest rate during the forecast period. This growth of the pen needles market in the Asia-Pacific region is attributed to the rising demand, growth in the geriatric population, and the improvements in the pen needle technology. The North America region, on the other hand, is expected to hold the largest share in the global market, followed by Europe.
Key Benefits of the Report:
The report provides clear understanding of the roles of the key players and stakeholders involved in the pen needles market
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