(PharmaNewsWire.Com, July 14, 2017 ) Europe Pen Needles Market is estimated to be USD 0.54 billion in 2016 and expected to grow at a CAGR of 10.0%, to reach USD 0.87 billion by 2021 with a cumulative growth rate of USD 0.33 billion in the span of five years. It can attributed to the factors such as growing rate of diabetic patients, existence of favourable regulatory policies to reduce needle stick injuries, increasing government focus on the utilization of safety devices, growing funding resources for diabetes care & research in the U.K., and presence of favourable reimbursement policies in Germany. In addition, increasing number of aging population & availability of high insurance in France, growing number of diabetes awareness programs in Italy, and existence of regulations that mandate the utilization of safety pen needles & presence of huge diabetic population in Spain are further driving the growth of the market in Europe. However, lack of awareness on the pen needles utilization and presence of uncertain reimbursement policies across Europe are restraining the growth of pen needles market in Europe.
Sterile, single-use pen needles are intended to be used with a pen injector device for the subcutaneous injection of insulin. They are commonly used by people with diabetes who often require multiple daily insulin injections. Insulin pen needles and syringes are the most commonly used device by diabetics for injecting insulin. Although injecting with the use of syringe is still the most predominant method, more people are seeing the benefits of using insulin pen device and diabetic pen needles. Pen needles used to be long and sharp. Thanks to advancements in technology, they are now small, thin and often painless. Universal pen needles fit almost all brands of pen.
Europe Pen Needles Market is segmented based on therapy, type, needle length and mode of purchase below for obtaining a more granular perspective of the market. In the report each sub segment is provided with Market Size Estimations and Y-o-Y Forecasts.
• Therapy o Insulin Therapy o GLP-1 Therapy o Growth Hormone Therapy
• Type o Standard Needle o Safety Needle • Needle Length o 4mm o 6mm o 8mm o 10mm o 12mm • Mode of Purchase o Retail o Non-Retail
Europe is an amalgamation of major economies like Germany, Spain, Italy, U.K. and France among others to name a few. The report justifies this by offering country wise data for the EU5 countries while taking some other predominant economies into consideration as well (Rest of Europe). Germany is estimated to account for the largest share of the Europe pen needles market in 2016, whereas France is estimated to grow at the highest CAGR during the forecast period 2016-2021.
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 Europe pen needles market in 2016. 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.
The Pen Needles market study offers the following deliverables:
• Regional and country-level analysis that provides an innate perspective of European region and the aforementioned countries
• Meticulously identifying the key areas of market growth by providing market size forecasts and y-o-y estimations at a Segment-level analysis
• Explanations of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
• Study of macro and micro environmental factors that affect the European market presented in the form of PESTLE and Porter’s Five Forces Analyses
• Company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and analyst overview of the key market players operating in the region
• Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
• Expertly devised Market Outlook - Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
The publisher of this report Market Data Forecast is well known for the services they render in the area of market research and business intelligence. With rich experience in research across various business domains, they cater to the needs of both individual and corporate clients. Their research reports section offers a wide variety of market studies ranging from all-encompassing comprehensive market studies to product specific niche markets covering Europe among other regions of the global market as well, that too with competitive pricing options. For more info kindly visit, www.marketdataforecast.com
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