Dublin, Feb. 21, 2024 (GLOBE NEWSWIRE) -- The "Europe Pen Needles Market Size, Share & Industry Trends Analysis Report By Type, By Setting, By Application, By Length (8mm, 6mm, 5mm, 10mm, 12mm, and 4mm), By Mode of Purchase, By Country and Growth Forecast, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The European Pen Needles Market is forecast to witness market growth of 9% CAGR during the forecast period 2023-2030. In the year 2020, the Europe market's volume surged to 18,166.7 thousand Units, showcasing a growth of 8.9% during 2019-2022.
In certain medical conditions, patients may need to self-administer biologic drugs and specialty medications via subcutaneous injection. Pen needles are suitable for these applications because they provide a relatively painless and convenient way to deliver these medications. In some cases, subcutaneous vaccinations may be administered using pen needles, especially for vaccines requiring a subcutaneous administration route. It can be used in various other medical conditions requiring subcutaneous injections. These may include autoimmune diseases, multiple sclerosis, and certain chronic illnesses.
One of the significant advantages of pen needles is their suitability for home healthcare. Patients can easily and safely self-administer medication without the need for healthcare professionals, which improves their quality of life and adherence to treatment plans. The application of pen needles is expanding beyond diabetes management to include various medical conditions, making them a versatile and essential medical device in the healthcare industry. Healthcare professionals and patients need to be well-informed about the proper use of pen needles to ensure effective and safe treatment.
According to Destatis, by the middle of the 2030s, the number of Germans of retirement age (67 or older) will increase by approximately 4 million to at least 20 million. There will be between 5.8 and 6.7 million people aged 80 or older by the middle of the 2030s. Older adults often have more complex healthcare needs, and chronic conditions like diabetes require regular monitoring and treatment. The convenience and ease of use of pen needles are beneficial for seniors who need to self-administer insulin. The aforementioned factors will boost market growth in this region.
The German market dominated the Europe Pen Needles Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $203.7 million by 2030. The UK market is showcasing a CAGR of 8.1% during (2023 - 2030). Additionally, The France market would register a CAGR of 9.8% during (2023 - 2030).
Based on Type, the market is segmented into Standard Pen Needles, and Safety Pen Needles. Based on Setting, the market is segmented into Homecare, Hospitals & Clinics, and Others. Based on Application, the market is segmented into Insulin, Glucagon-like-Peptide-1 (GLP-1), Growth Hormone, Osteoporosis, and Others. Based on Length, the market is segmented into 8mm, 6mm, 5mm, 10mm, 12mm, and 4mm. Based on Mode of Purchase, the market is segmented into Over the Counter, Prescription-based, Online Purchase, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Scope of the Study
Market Segments Covered in the Report:
By Type (Volume, Thousand Units, USD Billion/Million, 2019-2030)
- Standard Pen Needles
- Safety Pen Needles
By Setting (Volume, Thousand Units, USD Billion/Million, 2019-2030)
- Homecare
- Hospitals & Clinics
- Others
By Application (Volume, Thousand Units, USD Billion/Million, 2019-2030)
- Insulin
- Glucagon-like-Peptide-1 (GLP-1)
- Growth Hormone
- Osteoporosis
- Others
By Length
- 8mm
- 6mm
- 5mm
- 10mm
- 12mm
- 4mm
By Mode of Purchase (Volume, Thousand Units, USD Billion/Million, 2019-2030)
- Over the Counter
- Prescription-based
- Online Purchase
- Others
By Country (Volume, Thousand Units, USD Billion/Million, 2019-2030)
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Companies Profiled in the Report:
- Embecta Corp.
- Novo Nordisk A/S
- Ypsomed AG
- B.Braun Melsungen AG
- Terumo Corporation
- Nipro Corporation
- Owen Mumford Limited
- Arkray, Inc.
- UltiMed, Inc.
- Allison Medical, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/it2xs
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