Global Pen Needles Market is expected to grow at a substantial CAGR of 9.3% in the forecast period 2019 to 2026. The years considered for study are as mentioned below:
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Global pen needles market is an upcoming market which includes key players and local players. The market is growing owing to the favourable market scenario. The market has a prominent growth in upcoming years due to increasing prevalence of diabetes and rising government initiatives.
The market has witness developments in terms of merger and acquisitions or product launches to enhance the product portfolio to meet the rising demand of pen needles market. For instance, In February 2019, Sanofi India and Directorate of Health Services (Government of Goa) had announced partnership for decreasing burden of diabetes in Goa. With this collaboration there will be increased awareness about the diseases as well as treatment.
Novo Nordisk A/S dominated the global pen needles market and accounts for the highest market share in 2018. The other key players in the market are: Sanofi, Eli Lilly and Company, Terumo Corporation, MedExel Co., Ltd, ALLISON MEDICAL, VOGT MEDICAL, Digital Medics Pty Ltd., STAT Medical Devices., DOMREX Pharma Inc., A. Menarini Diagnostics srl, Ypsomed AG, B. Braun Melsungen AG, Facet Medical Technologies, KD Medical GmbH, Haselmeier GmbH & Co. KG, pendiq GmbH, MedExel Co., Ltd, Owen Mumford Ltd. and HTL-STREFA S.A., LDI Ltd., LLC among others.
Novo Nordisk A/S:
Novo Nordisk A/S, headquartered in Bagsvaerd, Denmark, was founded in 1989. The company is focuses on developing and providing innovative diabetes care products. The company has two business segments which are diabetes and obesity, biopharmaceuticals in which diabetes and obesity is market focused segment. The company has following product categories- diabetes delivery systems, diabetes, obesity, haemophilia, human growth hormone, hormone replacement therapy in which diabetes delivery systems is market focused category. The company has more than 43,202 employees as of December 31, 2018.
- In October 2014, Novo Nordisk A/S announced the launch of NovoFinePlus Pen Needle for insulin injection and GLP-1 receptor agonist pens for diabetic patients. The launch of the new pen needle enhances the product portfolio of the company.
It has its global networks through direct sales representatives and distributors in the North America, Europe, Latin America, Middle East, Asia-Pacific and Africa. The company also generates in revenue from its subsidiaries such as Novo Nordisk Pharma Argentina S.A., (Argentina), Novo Nordisk Producao Farmacêutica do Brasil Ltda. (Brazil), Novo Nordisk Farmaceutica do Brasil Ltda. (Brazil), Novo Nordisk Farmaceutica Limitada (Chile), Novo Nordisk Colombia SAS (Colombia) among others.
Sanofi
Sanofi headquartered in Paris, France was incorporated in 1994. The company focuses on the patient needs and engaged in the research, development, manufacture and marketing of therapeutic solutions. The company has five business segments which are general medicines, sanofi genzyme (speciality care), sanofi pastuer (vaccines), consumer health and diabetes and cardiovascular in which diabetes and cardiovascular is market focused segment. The company has following product categories- health and well-being, diabetes and cardiovascular diseases, oncology, immunology, multiple sclerosis, rare diseases, rare blood disorders, vaccines in which diabetes and cardiovascular diseases is market focused category. The company has 104,226 employees as of 2018.
- In February 2019, Sanofi India and Directorate of Health Services (Government of Goa) had announced partnership for decreasing burden of diabetes in Goa. With this collaboration there will be increased awareness about the diseases as well as treatment.
It has its global networks through direct sales representatives and distributors in the Europe, Asia-Pacific, Latin America, Africa and Middle East, North America. The company also generates in revenue from its subsidiaries such as Sanofi Pasteur SA (France), Genzyme Corporation(U.S), Genzyme Therapeutics Products LP (U.S), Sanofi Pasteur Limited (Canada), Genzyme Flanders BVBA Holding Co (Belgium).
Eli Lilly and Company:
Eli Lilly and Company headquartered in Indiana, U.S., was founded in 1901. The company is engaged in developing, manufacturing and commercialize the products such as animal health products and human pharmaceutical products. The company has seven business segments which are endocrinology, oncology, animal health, cardiovascular, neuroscience, immunology, other in which endocrinology is market focused segment. The company has following product categories- bone muscle joint, cardiovascular, diabetes, endocrine, immunology, neuroscience, oncology in which diabetes is market focused category. The company has 38,680 employees.
- In March 2019, Eli Lilly and Company had introduced cheaper product Humalog. This product is having price less than 50% as compare to other products. Humalog is available in pen as well as in vial. This resulted into increased product portfolio as well as revenue generation of a company. It has its global networks through direct sales representatives and distributors in South America, North America, Asia, Europe and South Africa.
It has its global networks through direct sales representatives and distributors in the South America, North America, Asia, Europe, and South Africa. The company also generates in revenue from its subsidiaries such as Loxo Oncology, Inc. (U.S.), ImClone Systems LLC (U.S.), ARMO BioSciences, Inc. (U.S.), Avid Radiopharmaceuticals, Inc. (U.S.), Eli Lilly Canada Inc. (Canada) and others.
