The Asia-Pacific pen needle market is anticipated to grow at a CAGR of 9.4% during the forecast period (2020-2026). The rapidly increasing prevalence of diabetes is creating a substantial scope for the growth of the pen needle industry in the Asia-Pacific region over the forecast period. Highly populated countries such as India and China are experiencing a significant increase in the cases of diabetes where both, China and India hold 40.0% of the total world population share. For instance, according to the International Diabetes Federation (IDF), India had the second-highest cases of diabetes in 2019 which is around 77 million. Similarly, in 2019 China has an estimated 116 million adults that accounts for 10.9% of the population who have diabetes. Such high number of cases is expected to significantly influence the expansion of pen needle market across the region.
Furthermore, the economies of Asia-Pacific, especially China, Japan, and India are engaging significantly in the development of innovative therapeutic and medical devices including pen needles. This will also provide new expansion opportunities to the market. Moreover, the increasing penetration of foreign players in the market is also aiding to the expansion of the pen needle market during the forecast period.
OMR Global Recently Published Report on: https://www.omrglobal.com/industry-reports/asia-pacific-pen-needle-market
Asia-Pacific Pen Needle Market Report Segment
By Type
- Standard Pen Needles
- Safety Pen Needles
By Therapy
- Insulin
- GLP-1
- Growth Hormones
By Mode of Purchase
- Retail
- Non-Retail
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