Pen Needles Market

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Pen Needles Market

• Pen Needles Market to Reach 4.5 Billion,
  Globally, by 2032 at 10.3 CAGR Allied Market
  Research

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Prime determinants of growth  

• The growth of the global pen needles market is
  driven by multiple factors, including an increase
  in the prevalence of chronic conditions, a surge
  in awareness and adoption of injector pens, and
  advantages offered by pen needles over
  traditional syringes. The rising prevalence of
  chronic diseases, such as diabetes, necessitates
  frequent and precise administration of
  medications, which has led to an increased demand
  for pen needles. Moreover, the growing awareness
  and adoption of injector pens as a preferred
  method for self-administration of medications
  have propelled the market forward, as these
  devices offer ease of use, accurate dosing, and
  reduced needlestick injuries.  

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Leading Market Players

• Allison Medical Inc. 
• B. Braun SE 
• Novo Nordisk A/S 
• Owen Mumford Ltd. 
• Terumo Corporation 
• Trividia Health, Inc. 
• Ultimed, Inc. 
• Ypsomed AG 
• MTD Medical Technology and Devices S.P.A 
• Embecta Corp. 

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Recent developments in Pen Needles Market

• New needle designs New needle designs are being
  developed to improve the comfort and convenience
  of pen needles. For example, some new needle
  designs feature thinner needles that are less
  painful upon insertion. Other new needle designs
  feature shorter needles that are easier to use.
• Smart pen needles Smart pen needles are being
  developed to track insulin delivery and provide
  feedback to users. For example, some smart pen
  needles can track the amount of insulin injected
  and the date and time of injection. This
  information can be used to improve diabetes
  management.
• Reusable pen needles Reusable pen needles are
  being developed to reduce the environmental
  impact of pen needles. For example, some reusable
  pen needles can be used up to 100 times before
  needing to be replaced.

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North America to maintain its dominance by 2032 
North America held the highest market share in
terms of revenue in 2022, accounting for around
two-fifths of the global pen needles market
revenue and is likely to dominate the market
during the forecast period. The growth is
attributed to the well-developed healthcare
infrastructure, rise in awareness among consumers
about advancements in needle technology, and
surge in demand for injector pens with subsequent
rise in demand for pen needles in this
region. However, the Asia-Pacific region is
expected to witness the fastest CAGR of 11.2
from 2023 to 2032, owing to large population base
in countries such as China and India, rising
healthcare expenditure, and developing healthcare
infrastructure in this region. For Purchase
Inquiry- https//www.alliedmarketresearch.com/purc
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