The global pen needles market is expected to reach a value of USD 4.8 billion by 2025, according to a new report by Grand View Research, Inc. Rising prevalence of diabetes is the primary reason for the significant growth of pen needles market. According to the International Diabetes Federation (IDF), nearly 415 million people were suffering from diabetes in 2015. Such a high prevalence of diabetes across the globe has led to rising demand for pen needles. Patients suffering from diabetes commonly use injectable pen devices, which helps in easy drug delivery.
In addition, obesity is a significant cause of diabetes. Obese people often suffer from type 2 diabetes, which makes them one of the highest revenue contributors of the target market. Thus, people with type 2 diabetes are the common target population for companies manufacturing pen needles. Rising technological advancements is also expected to drive the market growth. Pen needles allow comfort and easy mode of insulin delivery. These devices are technologically advanced and provide a superior alternative drug delivery method in comparison to syringes and vials. For instance, in 2013, Becton, Dickinson and Company launched BD Ultra-Fine Nano 4mm Pen Needles with EasyFlow Technology, which will enable diabetic patients with easy adherence of insulin therapy regimens. Full Research Report On Global Pen Needle Market By Grand View Research: www.grandviewresearch.com/industry-analysis/pen-needles-market Further key findings from the study suggest:
www.grandviewresearch.com/industry/medical-devices Grand View Research has segmented the pen needles market on the basis of product, needle length, therapy and region: Pen Needles Product Outlook (Revenue, USD Million; 2014 - 2025)
www.grandviewresearch.com/press-release/global-pen-needles-market About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. For More Information: www.grandviewresearch.com
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