Medical Devices Industry News

The global pen needle market is growing significantly due to rising need for safety pen needle, increasing prevalence of diabetes and technological advancement in the industry. Pen needles are mainly used to deliver insulin or growth hormone in the body. Massive unexplored market in pen needle industry of developing economies are creating ample opportunities for the pen needle market to grow at a considerable rate during the forecasted years. On the basis of length, the pen needle market is categorized as 4mm, 5mm, 6mm, 8mm, 10mm and others. Pen needle with 6mm length holds maximum share in the market; whereas, pen needle with 4mm length is expected to grow at fastest rate in the coming years. Moreover, based on therapy, the pen needle market is classified as insulin therapy, growth hormone therapy, glucagon-like peptide-1 (GLP-1) therapy, and others. Insulin therapy leads the market and is expected to grow at the fastest rate in the coming years due to rise in prevalence of di...