European Pen Needle Market Size, Share & Trends Analysis Report By Type (Standard and Safety), By Therapy (Insulin, GLP-1, Growth Hormones), By Mode of Purchase (Retail and Non-Retail), and Forecast 2020-2026.
The European pen needle market is anticipated to grow at a CAGR of 7.7% during the forecast period. The lucrative growth of the region is attributed to the presence of key players such as B. Braun Melsungen AG, Novo Nordisk A/S, Smiths Group Plc., and Vygon SA, which are pioneers in innovation, design, and manufacture of pen needles. Additionally, easy availability of pen needle across the region also aid to the growing shares of the market.
Furthermore, a rise in cases of needlestick injuries in the region is another major factor that fuels the demand for pen needles. For instance, according to the European Parliament, more than one million needlestick injuries are reported every year in Europe. Moreover, the surge in awareness related to the damage caused by needlestick injuries propels the growth of this market.
The European pen needle market is segmented based on type, therapy, and mode of purchase. Based on the type, the market is sub-segmented into a standard pen needle and safety pen needle. The standard pen needles segment is estimated to contribute a significant share in the market. Based on the therapy, the market is sub-segmented into, insulin, GLP-1, growth hormones. Pen needles for insulin are estimated to contribute a prominent share in the market and are projected to do so during the forecast period. Based on the mode of purchase, the market is bifurcated into retail and non-retail. The retail segment is estimated to contribute significantly to market growth.
Some of the players in the European pen needle market include Novo Nordisk A/S, Terumo Corp., Hindustan Syringes & Medical Devices Ltd., Berpu Medical Technology Co., Ltd., Ipsen Pharma, and others. The market players are considerably contributing to the market growth by adopting various strategies including mergers, and acquisitions, collaborations, and funding, to stay competitive in the market.
Research Methodology
The market study of the European pen needle market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. the team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables the analyst to derive the closest possible figures without any major deviations in the actual number. the analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to the reports.
Secondary Sources Include:
The report is intended for pen needles manufacturers, insulin pen manufacturers, component manufacturers, government organizations, regulatory bodies, hospitals & pharmacies, research institutes, and other market participants for overall market analysis and competitive analysis. The report provides an in-depth analysis of market size, different products, and growth opportunities in the market. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions.
Market Segmentation:
1. Europe Pen Needle Market Research and Analysis by Type
2. Europe Pen Needle Market Research and Analysis by Therapy
3. Europe Pen Needle Market Research and Analysis by Mode of Purchase
The Report Covers:
The European pen needle market is anticipated to grow at a CAGR of 7.7% during the forecast period. The lucrative growth of the region is attributed to the presence of key players such as B. Braun Melsungen AG, Novo Nordisk A/S, Smiths Group Plc., and Vygon SA, which are pioneers in innovation, design, and manufacture of pen needles. Additionally, easy availability of pen needle across the region also aid to the growing shares of the market.
Furthermore, a rise in cases of needlestick injuries in the region is another major factor that fuels the demand for pen needles. For instance, according to the European Parliament, more than one million needlestick injuries are reported every year in Europe. Moreover, the surge in awareness related to the damage caused by needlestick injuries propels the growth of this market.
The European pen needle market is segmented based on type, therapy, and mode of purchase. Based on the type, the market is sub-segmented into a standard pen needle and safety pen needle. The standard pen needles segment is estimated to contribute a significant share in the market. Based on the therapy, the market is sub-segmented into, insulin, GLP-1, growth hormones. Pen needles for insulin are estimated to contribute a prominent share in the market and are projected to do so during the forecast period. Based on the mode of purchase, the market is bifurcated into retail and non-retail. The retail segment is estimated to contribute significantly to market growth.
Some of the players in the European pen needle market include Novo Nordisk A/S, Terumo Corp., Hindustan Syringes & Medical Devices Ltd., Berpu Medical Technology Co., Ltd., Ipsen Pharma, and others. The market players are considerably contributing to the market growth by adopting various strategies including mergers, and acquisitions, collaborations, and funding, to stay competitive in the market.
Research Methodology
The market study of the European pen needle market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. the team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables the analyst to derive the closest possible figures without any major deviations in the actual number. the analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to the reports.
Secondary Sources Include:
- Financial reports of companies involved in the market.
- Whitepapers, research-papers, and news blogs.
- Company websites and their product catalog.
The report is intended for pen needles manufacturers, insulin pen manufacturers, component manufacturers, government organizations, regulatory bodies, hospitals & pharmacies, research institutes, and other market participants for overall market analysis and competitive analysis. The report provides an in-depth analysis of market size, different products, and growth opportunities in the market. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions.
Market Segmentation:
1. Europe Pen Needle Market Research and Analysis by Type
2. Europe Pen Needle Market Research and Analysis by Therapy
3. Europe Pen Needle Market Research and Analysis by Mode of Purchase
The Report Covers:
- Comprehensive research methodology of the European pen needle market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the European pen needle market.
- Insights about market determinants which are stimulating the European pen needle market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
Table of Contents
1. Report Summary
2. Market Overview and Insights
3. Market Determinants
4. Market Segmentation
5. Regional Analysis
6. Company Profiles
Companies Mentioned
A selection of companies mentioned in this report includes:
- B. Braun Melsungen AG
- BIOCORP Production
- Ipsen Pharma
- Matzmedical
- Novo Nordisk A/S
- Owen Mumford, Ltd.,
- Smiths Group Plc.,
- Spirit Healthcare Ltd.
- Vygon SA
- Ypsomed AG
