The Asia Pacific Pen needles market size is forecasted to worth USD 0.88 billion by 2027 from USD 0.46 billion in 2022, growing at a CAGR of 14.10% from 2022 to 2027.
Growing in the preference for pen needles rather than syringes and vials, growth in geriatric populations are the key factor that drives the APAC pen needles market. Japan accounted for the largest share of the Asia-Pacific pen needles market in 2019, whereas India is estimated to grow at the highest CAGR during the forecast period.
The Chinese pen needles market is another promising region in the Asia Pacific market. Increasing diabetic patients in this region primarily drive the growth of the market in China. China is the country with the most massive diabetic patients worldwide, with around 116 million people suffering from diabetics. Overweight people are also highly susceptible to diabetes. According to the report, obesity is assumed to account for 80-85% of the risk of developing diabetes expected to drive the market growth in this region.
Indian pen needles market is predicted to grow at the highest CAGR from 2019 to 2024. The growth of the market is attributed to increasing awareness towards the availability of the latest technological devices for diabetes care, and the Indian government is also taking initiatives to spend on diabetes care and research to improve treatment techniques methods for diabetic patients. Rising market penetration by key players and the development of improved pen needle technologies. For instance, Terumo Japan-based company has launched advanced Nanopass 34G- the world's thinnest double tapered pen needles.
This research report on the Asia-Pacific Pen Needles Market has been segmented and sub-segmented into the following categories:
By Needle Length:
By Mode of Purchase:
Companies that are dominating the APAC Pen Needles market Becton Dickinson and Company, Novo Nordisk A/S, Ypsomed Holding AG (Switzerland), UltiMed, Inc., Allison Medical, Inc., Owen Mumford, Ltd., B. Braun Melsungen, Artsana S.p.a., HTL-STREFA S.A. and Terumo Corporation (Japan).
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