The US pen needle market is anticipated to grow at a CAGR of 7.4% during the forecast period. The growth of the market is mainly influenced by the high prevalence of diabetes across the country. According to the International Diabetes Federation (IDF), the number of adults with diabetes in the US is expected to increase to up to 36.0 million people by 2045 which (estimated) stoodat 31.0 million in 2019. Additionally, the strong presence of global companies engaged in providing solutions for the pen needle market such as Novo Nordisk A/S, Becton, Dickinson and Company, Montmed Inc., and Terumo Corp. among others is also expected to aid to the expansion of the market across the country.
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Additionally, the increasing demand for easy and painless treatment for the management of diabetes is driving companies across the countries to innovate with their products. For instance, in January 2020, Montmed Inc. has earned the United States Patent and Trademark Office (USPTO) Patent 10,485,919 for SiteSmart that is a novel pen needle system designed to favor adherence to a healthy injection site rotation regimen.
Market Coverage
- The market number available for – 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segment Covered-
o By Type
o By Therapy
o By Mode of Purchase
- Competitive Landscape-AgaMatrix, Inc., Becton, Dickinson and Co., Novo Nordisk A/S, and Terumo Corp.
Key questions addressed by the report
- What is the market growth rate?
- Which segment dominates the market in the base year?
- Which segment will project the fastest growth in the market?
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
US 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
A full report of US Pen Needle Market is available at: https://www.omrglobal.com/industry-reports/us-pen-needle-market
Company Profiles
- AgaMatrix, Inc.
- Allison Medical, Inc.
- Becton, Dickinson and Company
- MHC Medical
- Montmed Inc.,
- Novo Nordisk A/S
- Terumo Corp.
- Trividia Health, Inc.
- Ultimed, Inc.
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