The Indian pen needle market is anticipated to grow at a CAGR of 10.1% during the forecast period. The market growth will be majorly influenced by the increasing number of diabetes patients. As per the IDF, India has the second-largest number of adults with diabetes globally with a total of 77 million adults (20-79 years) suffering from diabetes in 2019. The increasing initiatives to promote awareness regarding diabetes and its treatment is also expected to present new growth opportunities to the market. For instance, in 2019, Diabetes India launches the '1000 Days Initiative' leading up to January 11, 2022, to mark 100 years of insulin use.
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Furthermore, the increasing initiatives from domestic players such as low-priced products to compete with foreign companies are also expected to fuel the pen needle market. For instance, in May 2018, at the 4th Medical Expo Indore, Hindustan Syringes & Medical Devices (HMD), an India-based company introduced ‘Dispovan Insulin Pen Needle’ to provide ease to people with diabetes in India & supporting the Made in India revolution. The company provides needles at affordable prices. For instance, the Becton, Dickinson, and Co. (BD) pen needle is priced for $0.19 whereas HMD priced their Dispovan’s pen needle for $0.16 to make it affordable for all types of consumers.
Market Coverage
- The market number available for – 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segment Covered-
o By Type
o By Therapy
o By Mode of Purchase
- Competitive Landscape- Hindustan Syringes & Medical Devices Ltd., B. Braun Melsungen AG, Becton, Dickson, and Company, Novo Nordisk A/S
Key questions addressed by the report
- What is the market growth rate?
- Which segment dominates the market in the base year?
- Which segment will project the fastest growth in the market?
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
India Pen Needle Market Report Segment
By Type
- Standard Pen Needles
- Safety Pen Needles
By Therapy
- Insulin
- GLP-1
- Growth Hormones
By Mode of Purchase
- Retail
- Non-Retail
A full report of Indian Pen Needle Market is available at: https://www.omrglobal.com/industry-reports/indian-pen-needle-market
Company Profiles
- Braun Melsungen AG
- Becton, Dickson, and Company
- Hindustan Syringes & Medical Devices Ltd.
- MedExel Co., Ltd.
- MylifeYpsomed India Private Ltd.)
- Novo Nordisk A/S
- Terumo Corporation
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