Press Release
Press Release
Increasing the use of pen needles over syringes due to the rise in diabetic patients is driving the market growth. The rising diabetes population worldwide is leading to a rise in the demand for insulin pens. The rising research and development activities for pen needles are aiding the growth of the industry. Various advantageous features like increased accuracy and improved patient satisfaction are offering growth opportunities to the industry. Additionally, since insulin pens are disposable, there is a lesser chance of cross-contamination. An increase in the geriatric population and adoption of pen needles is aiding the growth of the market. There is rising focus by the key players such as Novo Nordisk A/S and Ypsomed Holding AG, which in turn is driving the market growth potential.
To extend the care beyond the walls of hospitals in the current situation where healthcare is disrupted, pen needles are expected to witness a robust growth compared to pre-pandemic levels. Advancement in technology and new innovations in the market is driving the industry growth. On 9 December 2020, Novo Nordisk A/S (NYSE: NVO) announced the completion of the Emisphere Technologies acquisition, and in July 2021, Prothena and Novo Nordisk announced the acquisition agreement for Prothena’s ATTR amyloidosis programme. Various advantages of pen needles are leading to market growth.
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The major players in the global pen needles market are Beckton, Dickinson and Company, Novo Nordisk A/S, Ypsomed Holding AG, Owen Mumford, Ltd., Htl-Strefa S.A, and B. Braun Melsungen AG, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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