Superdisintegrants Market - Growth and key Players Analysis and Forecast

MarketsandMarkets Research Report’s View on Revenue Impact?

The Global Superdisintegrants Market is projected to reach USD 536.5 million, growing at a CAGR of 7.9% during the forecast period.

Factors Responsible for Growth and In-Depth Analysis?

The increasing adoption of orally disintegrating tablets, the growing generics market, and the emergence of new superdisintegrants for the pharmaceutical industry are factors driving the market for superdisintegrants. The shifting focus of pharmaceutical manufacturing to emerging markets and the growth of the overall pharmaceutical market in these markets present significant opportunities for market growth. However, safety and quality concerns are expected to challenge the growth of the superdisintegrants market to a certain extent during the forecast period.

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Leading Key Players and Analysis:

The prominent players in the global superdisintegrants market are Ashland Inc. (US), BASF SE (Germany), DowDuPont (US), JRS Pharma (Germany), DFE Pharma (Germany), Roquette Freres (France), Asahi Kasei Corporation (Japan), Merck KGaA (Germany), Corel Pharma Chem (India), and Avantor Performance Materials, LLC (US).

BASF was the leading player in the superdisintegrants market and accounted for the largest share in 2017. The company offers a well-balanced portfolio for the market. Its stronghold in the global pharmaceutical excipients market is primarily attributed to its innovative product portfolio and strong relationships with its customers. Additionally, having a large number of production sites gives it a competitive advantage over other players in the excipients market. The company also provides customized products to make customers’ production processes more efficient. To remain competitive in the market, the company focuses on expanding its presence across the globe. It opened Innovation Campus Asia Pacific in India with an initial investment of USD 2.76 million. By 2020, the company plans to conduct around 25% of its global R&D in Asia Pacific.

Geographical Analysis in Detailed?

The Europe is expected to account for the largest share of the superdisintegrants market in 2018, followed by North America and Asia Pacific. The large share of this region can be attributed to the presence of a number of pharmaceutical giants with large production capacities leading to high consumption of excipients. The growing emphasis on superior pharmaceutical products and generics is also expected to aid the market growth in the region. Moreover, a number of major global players are based in Germany.

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Industry Segmentation:

The synthetic superdisintegrants segment is estimated to account for the largest share of the superdisintegrants market in 2018

On the basis of type, the synthetic superdisintegrants segment accounted for the largest share of the global market in 2018. The large share can be attributed to the widespread usage of these superdisintegrants in various pharmaceutical formulations. The advantages associated with synthetic superdisintegrants include their effectiveness at lower concentrations as compared to starch and lesser effect on the compressibility and flowability of the dosage form, which drives their use in various oral dosage formulations.

The tablets segment is expected to hold the largest share in 2018

Based on formulation, segmented into tablets and capsules. In 2018, the tablets segment is estimated to account for the largest share of the superdisintegrants market. Benefits such as stability, low manufacturing cost (as compared to other dosage forms), easy product identification, and compactness are driving the production of tablet formulations. The increasing focus on fast and orally disintegrating tablets is also contributing to the large share of this segment.

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Cardiac Mapping Market will grow at high CAGR, Top 10 Company Profiles, Regional Revenue

 The Research Report on "Cardiac Mapping Market by Product (Contact Mapping Systems (Electroanatomical Mapping, Basket Catheter Mapping), Non-contact Mapping Systems), Indication (Atrial Fibrillation, Atrial Flutter, AVNRT), Region - Global Forecast to 2024", is expected to reach USD 2.1 billion by 2024 from USD 1.4 billion in 2019, at a CAGR of 8.7%

The Growth in the cardiac mapping industry is driven primarily by factors such as new entrants in the market, growing investments, funds, and grants, increasing incidence of target diseases, and growth in the geriatric population.

Recent Developments;

- In 2019, Acutuc medical partnered with Peerbridge Health, US. Under the partnership, Peerbridge Health offered its advanced ambulatory ECG—Peerbridge Cor that has been cleared to detect up to 26 different arrhythmias to be used with the AcQMap System.

- In 2018, Royal Philips acquired EPD Solutions, Israel, an innovator in image-guided procedures for cardiac arrhythmias.

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Industry Segmentation In Detailed:

The contact cardiac mapping segment is projected to grow at the highest rate during the forecast period
By product, the cardiac mapping market is segmented into contact cardiac mapping (electroanatomical mapping, basket catheter mapping, traditional endocardial mapping) and non-contact cardiac mapping. The contact cardiac mapping segment is expected to witness the fastest growth during the forecast period. Advantages offered by contact cardiac mapping, such as detection of the precise locations of mapping and ablation catheters in a three-dimensional environment, also with multi-electrode basket catheter, recording just a few beats might be enough to uncover the arrhythmia circuit; these factors are increasing its adoption. Consequently, the demand for cardiac mapping devices for diagnosing complex arrhythmias is also growing.

Atrial fibrillation held the largest share of the cardiac mapping systems market in 2019

Cardiac mapping is used widely for the identification, characterization, and localization of an arrhythmia. The cardiac mapping systems indication market is segmented into atrial fibrillation, atrial flutter, atrioventricular nodal reentry tachycardia (AVNRT), other arrhythmias. The atrial fibrillation segment held the largest share of the market in 2019, a trend that is expected to continue during the forecast period. The large share of this segment can primarily be attributed to the rising incidences of AF throughout the globe.

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Leading Key Players and Analysis:

The major players operating in the cardiac mapping market include Biosense Webster (US), Abbott (US), and Boston Scientific Corporation (US). The other players in this market include Medtronic (Ireland), MicroPort Scientific Corporation (China), EP Solutions SA (Switzerland), Acutus Medical (US), Koninklijke Philips N.V. (Royal Philips) (Netherlands), Lepu Medical (China), BIOTRONIK (Germany), AngioDynamics (US), BioSig Technologies (US), APN Health (US), CoreMap (US), Kardium (Canada), Catheter Precision (US), and Epmap-System (Germany).

Biosense Webster (US) held the dominant position in the cardiac mapping market in 2018. The large share of this company can be attributed to its strong suite of cardiac mapping systems, software, and catheters. The company provides products mainly targeted at the diagnosis and treatment of several cardiac arrhythmias, such as atrial fibrillation. Moreover, the firm has a strong geographic presence in all regions of the world. The company focuses on product launches to create a strong foothold in the market. In 2019, Biosense introduced the CARTONET, a cloud-based networking and data analytics software solution.

Geographical Analysis in Detailed:

North America is expected to dominate the global cardiac mapping industry in 2019, the Asia Pacific region is expected to register the highest CAGR during the forecast period. The high growth in this region can be attributed to the large population, increasing geriatric population, the growing incidence of chronic diseases, rising healthcare spending, healthcare reforms for infrastructural development, and growing demand for advanced technologies.

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Leukapheresis Market competition by top Key Players, Growth Revenue, share, Future Forecast 2026

The Research Report on “Leukapheresis Market by Product (Devices, Filters, Columns, Disposables), Leukopak (Mobilized, Non-Mobilized), Indication (ALL, NHL, Multiple Myeloma), Application (Research, Therapeutic), End User (Hospitals, Pharma, Biotech) – Global Forecast to 2026″, the global leukapheresis products market is projected to reach USD 91 million by 2026 from USD 61 million in 2021, at a CAGR of 8.4% during the forecast period.

The leukopaks market is expected to reach USD 662 million by 2026, at a CAGR of 41.9%

Growth Driver: Increasing incidence and prevalence of leukemia;

Globally, the incidence of leukemia has risen significantly. According to the American Cancer Society, in 2021, there will be an estimated 61,090 new cases of leukemia in the US. It is also estimated that there will be an estimated 23,660 deaths in 2021 due to leukemia in the US. The incidence rate of leukemia in children has increased by 1% year-on-year from 2008 to 2020. It can be inferred that the rising incidence of hyperleukocytic leukemia will drive the number of therapeutic leukapheresis procedures conducted in the coming years and, thereby, support the growth of the leukapheresis market.

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Industry Segmentation In Detailed:

The leukapheresis disposables segment is expected to account for the largest share of the leukapheresis market

Based on type, the leukapheresis products market is segmented into leukapheresis disposables and leukaphersis devices. The large share of the leukapheresis disposables segment can be attributed to the recurrent use of disposables during leukapheresis procedures, increasing adoption of leukapheresis products for the collection of leukopaks and isolated PBMCs from leukopaks for research applications, and the increasing adoption of therapeutic leukapheresis procedures.

The research applications segment expected to grow at highest CAGR in the leukapheresis products market in the forecast period

Based on application, the leukapheresis market is segmented into research and therapeutic applications. The research applications segment is expected to grow at the highest CAGR in the leukapheresis products market during the forecast period. The large share of this segment is attributed to the increasing adoption of leukapheresis products for the development of cell-based immunotherapies and leukapheresis-derived primary cells in drug development.

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Leading Key Players and Analysis:

The Prominent players in the Leukapheresis products and leukopaks market include Asahi Kasei Medical Co. Ltd. (Japan), Fresenius SE & Co. KGaA (Germany), Haemonetics Corporation (US), Terumo BCT, Inc. (US), Charles River Laboratories (US), AllCells, LLC (US), and StemExpress, LLC. (US).

Terumo BCT is a leading player in the leukapheresis products market and accounted for the largest share of the market in 2020. The company offers apheresis equipment with the WBC removal protocol. The company focuses on capitalizing on the increased opportunities for adopting new therapies in response to unmet medical needs in the therapeutic apheresis business by prioritizing investments in strategically important emerging countries. In October 2018, the company collaborated with UniCAR Therapy Bio-Medicine Technology Co. (China) to allow the former company to utilize Terumo’s cell expansion devices to automate its manufacturing process for chimeric antigen receptor (CAR) T-cell therapy.

Geographical Analysis in Detailed:

The leukapheresis and leukopaks market is segmented into North America, Europe, Asia Pacific, and Rest of the World. The large share of this region can be attributed to the increasing adoption of leukapheresis products for the development of leukoreduced plasma and leukoreduced RBCs, growing adoption of leukopaks as a source of primary cells for research applications, increasing number of clinical trials for the development of CAR T-cell therapy using leukopaks.

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European Mammography Workstations Market Professional Survey Report 2021

The Research Report on "European Mammography Workstations Market by Modality (Multimodal, Standalone), Application (Diagnosis, Advanced Imaging, Clinical Review), End User (Hospital, Breast Care Centers, Academia), Country (Germany, UK, France, Italy, Spain) - Forecast to 2024", the mammography workstations market is projected to reach USD 14 million by 2024 from USD 10 million in 2018, at a CAGR of 5.5% during the forecast period.

Recent Developments;

- In February 2019, Fujifilm (Japan) launched ASPIRE Bellus II.

- In January 2018, Agfa-Gevaert NV (Belgium) signed a contract with the West Suffolk NHS Foundation Trust (UK) in order to implement enterprise imaging for radiology platform.

- In May 2017, Siemens AG (Germany) and Fraunhofer MEVIS (Germany) entered into a partnership for developing artificial intelligence software systems to facilitate diagnosis and therapy decisions in order to support physicians to define the best possible treatment approach.

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Industry Segmentation In Detailed:

The multimodality mammography workstations segment accounted for the largest share of the European mammography workstations market.

On the basis of modality, the mammography workstations market is segmented into mammography (X-ray) workstations and multimodality mammography workstations. In 2018, the multimodality mammography workstations segment accounted for the larger share of the European mammography workstations market. This can be attributed to the increasingly supportive government initiatives/regulations in Europe, increasing awareness about the diagnostic efficacy of contrast-enhanced digital mammography, growing market availability of integrated mammography solutions, techno-commercial advantages associated with multimodality mammography workstations, and the rising prevalence of breast cancer.

The breast care centers segment is expected to register the highest growth rate in the European mammography workstations market.

On the basis of end users, the mammography workstations market is segmented into hospitals, surgical clinics, & diagnostic imaging centers; breast care centers; and researchers & academia. The breast care centers segment is projected to witness the highest growth rate in the European mammography workstations market during the forecast period. This can be attributed to the increased utilization of multimodal diagnostic imaging (such as PET-CT, MRI, ultrasound, and mammography) in advanced breast cancer diagnosis, rising number of breast screening programs across major European countries, increasing number of training & awareness programs to sensitize healthcare professionals about the advantages of multimodality mammography workstations, and the growing number of public-private breast care centers across key European countries.

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Leading Key Players and Analysis:

General Electric (US), Siemens (Germany), FUJIFILM Corporation (Japan), Koninklijke Philips N.V. (Netherlands), Hologic Inc. (US), Carestream Health (US), EIZO Corporation (Japan), Agfa-Gevaert Group (Belgium), Barco (Belgium), Konica Minolta, Inc. (Japan), Benetec Advanced Medical Systems (Belgium), PLANMED OY (Finland), Sectra AB (Sweden), Aycan Medical Systems, LLC. (US), and Esaote SPA (Italy) are the major players in the European mammography workstations market.

Philips Healthcare (Netherlands) is among the top five players in the mammography workstations market. The company provides technologically advanced multimodal workstations for digital mammography, breast MRI, and breast ultrasound. To sustain its leading position and to further increase its share in the European mammography workstations market, the company focuses on introducing new products in the market. Philips Healthcare possesses a well-established supply chain network along with a strong network of raw material suppliers and product distributors in the Netherlands, Germany, the UK, France, Greece, and Italy. This reduces the company’s dependability on specific raw material suppliers or product dealers/distributors, which is an important market strength.

Geographical Analysis in Detailed:

The research report covers the European mammography workstations market across Germany, the UK, France, Italy, Spain, and RoE. Germany accounted for the largest share of this market in 2018. The large share of Germany is primarily attributed to the better reimbursement scenario in the country as compared to other European countries, wider acceptance of multimodality mammography workstations among major end users (such as hospitals, surgical clinics, and breast care centers), and the rising patient demand for improved cancer screening.

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Lancets Market Projected to reach US $1,442 million by 2024 | Key players includes Becton, Dickinson and Company (US), Roche Diagnostics (Switzerland)

The Research Report on “Lancets Market by Type (Safety Lancets (Push button, Pressure Activated, Side Button), Personal Lancets), Application (Glucose Testing, Hemoglobin Testing), End User (Hospital, Clinic, Homecare), Region – Global Forecast to 2024″, the lancing devices market is projected to grow at a CAGR of 12.4% during the forecast period to reach USD 1,442 million by 2024 from USD 804 million in 2019.

The Growth in the lancets market is mainly driven by the growing prevalence of diabetes and the high prevalence of infectious diseases across the globe. In addition, emerging markets such as India and China are expected to offer growth opportunities for players operating in the lancets market during the forecast period. However, the risk of needlestick injuries, the reuse of lancets, and the poor reimbursement scenario in developing countries are restricting the growth of Lancing Devices Market.

Recent Developments;

• In 2018, HTL-STREFA expanded its storage capacity in Leczyca by almost 50%, with an equivalent of 3,550 m2 additional storage space.
• In 2018, HTL-STREFA was acquired by Investindustrial. This acquisition helped the companies partner for diabetes management, thus serving an extensive customer base.
• In 2017, Owen Mumford opened its new facility in Malaysia to strengthen and accelerate the growth of the company in the Asia Pacific region.

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Industry Segmentation In Detailed:

Safety Lancet is expected to be the most widely used type of the lancets market

The safety lancets accounted for the largest market share in 2018. This is primarily be attributed to the advantages associated with safety lancets such as their ease of use, the capability to prevent needlestick injuries and cross-contamination, and painlessness of vein puncture. In line with this, According to PharmaJet, in the US, around 600,000 to 800,000 needlestick injuries are reported every year. This is expected to increase the demand of safety lancets.

Glucose testing segment is expected to account for the largest share of the lancets market application

The glucose testing segment accounted for the largest share of the lancets market, by application, in 2018. This is primarily due to the increasing prevalence of diabetes, and the need for its prevention and management. For instance, according to the International Diabetes Federation (IDF), in 2017, there were almost 425 million people suffering from diabetes worldwide, and this figure is expected to increase to 629 million by 2045. The growing prevalence of diabetes has resulted in the increased adoption of lancets to effectively handle the growing patient pool.

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Leading Key Players and Analysis:

Prominent players in the lancets market are Becton, Dickinson and Company (US), Roche Diagnostics (Switzerland), Ypsomed (Switzerland), B. Braun Melsungen (Germany), Terumo Corporation (Japan), Own Mumford (UK), HTL-STREFA S.A (Poland), ARKRAY (Japan), Sarstedt (Germany), and SteriLance Medical (Suzhou) (China).

Roche Diagnostics (Switzerland) was the leading player in the global lancets market in 2018. The company develops and manufactures equipment and reagents used for research and medical diagnostic applications. It offers lancets to various end users including physicians, hospitals, clinics, academic institutes, and for personal use through its Diabetes Care segment. Roche diagnostics invests a significant amount of its revenue in R&D activities to increase its presence in the market. For instance, in 2016, the company invested USD 1.36 billion in diagnostic research and development, which has been increased to USD 1.76 billion in 2018.

Geographical Analysis in Detailed:

North America dominated the lancets market, followed by Europe. Increasing prevalence of diabetes and favorable reimbursement scenario in the region are the factors propelling the growth of the market in the region.

The Asia Pacific region is projected to register the highest growth rate in the global lancets market during the forecast period. This is primarily attributed to the rapid economic growth, rising awareness about diabetes treatment, rising geriatric population in China and India, and Japan’s growing healthcare industry.

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UV/Visible Spectroscopy Market Key Players, Share, Trend, Segmentation and Forecast

The Research Report on “UV/Visible Spectroscopy Market by Instrument Type (Single-Beam, Dual-Beam), Application (Academic Application, Industrial Application), End User (Pharmaceutical & Biotechnology Companies, Academic & Research Institutes) – Global Forecast to 2025″, the  Visible Spectroscopy Market is expected to reach USD 1.2 billion by 2025 from USD 1.0 billion in 2020, at a CAGR of 4.7%.

Future Opportunities: Growing opportunities in emerging nations;

As compared to mature markets such as the US and Europe, emerging markets such as China and India are expected to provide significant growth opportunities for players.

Many key industry players are strengthening their presence worldwide by establishing new facilities, R&Dcenters, and innovation centers. For example, in 2019, Agilent Technologies, Inc. (US) established the European R&D hub for molecular spectroscopy. Shimadzu Corporation set up a new research facility at the Technology Research Laboratory in Keihanna Science City, Japan. The new facility will focus on R&D and transform the delivery of innovative products. Further, in 2017, Shimadzu established an innovation center in its Asian subsidiary, Shimadzu Asia Pacific Pte. Ltd. The center enables Shimadzu scientists and university researchers in Asia and Oceania to conduct advanced R&D activities.

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Industry Segmentation In Detailed:

Dual-beam Systems segment is expected to account for the largest share of the UV/visible Spectroscopy instrument type market in 2019

On the basis of instrument type, segmented into dual-beam systems, single-beam systems, array-based systems, and handheld systems. In 2019, the dual-beam systems segment accounted for the largest share of the UV/visible spectroscopy market. This segment is also projected to register the highest CAGR during the forecast period. Dual-beam systems enable a high level of automation in data collection. Such advantages offered by dual-beam systems are supporting its increased adoption in the UV spectroscopy market.

Industrial applications segment is expected to grow at the highest CAGR in the global visible Spectroscopy market during the forecast period

On the basis of application, segmented into academic and industrial applications. The industrial applications segment accounted for the largest share of the UV spectroscopy market in 2019. This is mainly due to the ease of use, flexibility, affordability, and scalability of UV/visible spectrometers. Technological advancements in instrumentation that have enabled high-throughput screening, microvolume sampling, and automation in instrumentation and software integration have also increased the adoption of this analytical technique for industrial applications.

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Leading Key Players and Analysis:

The major players operating in the UV/visible spectroscopy market include Shimadzu Corporation (Japan), Agilent Technologies (US), Thermo Fisher Scientific, Inc. (US), PerkinElmer, Inc. (US). Other players involved in this market include Bio-Rad Laboratories, Inc. (US), Bruker Corporation (US), Hach Company (US), Hitachi High-Technologies Corporation (Japan), HORIBA., Ltd (Japan),  Mettler-Toledo (Switzerland), Hamamatsu Photonics KK (Japan), Cole-Parmer (UK), Analytik Jena (Germany), GBC Scientific Equipment (US), JASCO Inc. (US), Buck Scientific (US), Biochrom Ltd (UK), AMETEK Process, PG Instruments Ltd (UK) and PERSEE ANALYTICS, Inc (US).

Agilent Technologies was the second-largest player in the UV/visible spectroscopy market. A large part of the company’s revenue is generated from its Life Sciences and Applied Markets and Agilent CrossLab segments. The growth of the company is attributed to strategic mergers & acquisitions and improved R&D and capital expenditure. Expansions undertaken by Agilent to introduce new research and logistics bases in Asian countries are expected to further strengthen its position in this market. The company sells a majority of its products through its direct sales force. To complement the capabilities of this direct sales force, the company focuses on agreements with various channel partners across the globe, such as resellers, manufacturers’ representatives, and distributors.  In 2020, Agilent signed a sponsorship agreement with My Green Lab to highlight their ongoing commitment to sustainability.

Geographical Analysis in Detailed:

North America is expected to dominate the global the UV/visible spectroscopy market in 2019, while the Asia Pacific region is expected to register the highest CAGR during the forecast period. The high growth in this region can be attributed to the increasing environmental concerns, rising demand for food analysis and an increasing need to adopt technologically advanced products.

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Terahertz and Infrared Spectroscopy Market future growth probabilities and Comprehensive Analysis & Key Players

The Research Report on “Infrared and Terahertz Spectroscopy Market by Instrument Type (Benchtop Instruments, Microscopy Instruments, Portable Instruments, Hyphenated Instruments), Spectrum, Application – Global Forecast to 2025″.

The infrared spectroscopy market is expected to reach USD 1.3 billion by 2025 from USD 1.0 billion in 2020, at a CAGR of 5.2% during the forecast period.

The terahertz spectroscopy market is expected to reach USD 45 million by 2025 from USD 30 million in 2020, at a CAGR of 8.3% during the forecast period.

Growth Opportunities: Potential applications of terahertz spectroscopy in healthcare;

Rapid advances in technology have demonstrated the capability of terahertz spectroscopy in various healthcare applications. The focus on using terahertz spectroscopy in biomedical applications has increased rapidly, and several studies are being conducted to investigate its potential applications in pharmaceutical quality control, protein characterization, and cancer detection. T-rays are non-invasive and non-ionizing and can be focused harmlessly on the body to capture signs of cancer. Due to these advantages, terahertz spectroscopy is used in several cancer-related research activities.

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Industry Segmentation In Detailed:

The benchtop segment is expected to account for the largest share of the infrared spectroscopy market in 2020

Based on instrument type, the Infrared and Terahertz Spectroscopy Market is segmented into benchtop instruments, portable instruments, microscopy instruments and hyphenated instruments. In 2020, the benchtop instruments segment is expected to command the largest share of the spectroscopy market. The large share of this segment can be attributed to the advantages offered by benchtop instruments such as improved workflow, minimum space requirements, and fewer maintenance requirements

The mid-infrared radiation segment is expected to account for the largest share of the infrared spectroscopy market in 2020

Based on the spectrum, segmented into mid-infrared radiation, near-infrared radiation and far-infrared radiation. In 2020, the mid-infrared radiation segment is expected to command the largest share of the spectroscopy market. The increase in the number of healthcare and pharmaceuticals applications and extensive usage in the food industry are driving the growth of this segment.

The pharmaceutical and biopharmaceutical applications segment is expected to account for the largest share of the spectroscopy market in 2020

Based on the applications, the infrared spectroscopy market is segmented into food & beverage testing, pharmaceutical & biotechnology applications, industrial chemistry applications, environmental testing, and other applications (academic applications, forensic applications, biomonitoring, and agricultural applications). In 2020, the pharmaceutical and biotechnology applications segment to command the largest share of the Infrared and Terahertz Spectroscopy Market. The large share of this segment can be attributed to the stringent regulations in the pharmaceutical industry.

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Leading Key Players and Analysis:

The prominent players in the global infrared spectroscopy market include PerkinElmer (US), Bruker Corporation (US) Shimadzu Corporation (US), Thermo Fisher Scientiific (US), Agilent Technologies (US). And the major players in the terahertz spectroscopy market include TeraView Ltd (UK), Advantest Corporation (Japan), Menlo Systems GmbH (Germany, Toptica Photonix AG (Germany).

Perkinelmer (US) is one of the the leading players in the global infrared spectroscopy market. The firm designs and manufactures products for the life science and pharmaceutical industries as well as for various applications, such as biotechnological applications, clinical and molecular diagnostics research, materials and chemical analysis, and government applications. The firm offers a wide range of products based on infrared spectroscopy technologies. In 2020, the company launched the DA 7350 Spectroscopy Instrument and Process Plus Cloud-based Software based on the NIR technology to provide continuous quality control for food and food ingredient manufacturing processes.

Geographical Analysis in Detailed:

The infrared & terahertz spectroscopy market is segmented into North America, Asia-Pacific, Europe and Rest of the world(RoW). Asia Pacific is expected to register the highest CAGR during the forecast period. . The major factors driving the growth of the Asia Pacific market include strategic expansions by key players, increasing food safety concerns, and adoption of technologically advanced products.

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Global Pen Needles Market Size, Status, Overview and Future Forecast

The Research Report on “Pen Needles Market by Type (Standard Pen Needles, Safety Pen Needles), Length (4mm, 5mm, 6mm, 8mm, 10mm, 12mm), Therapy (Insulin, GLP 1, Growth Hormone), and Mode of Purchase (Retail, Non-Retail) – Global Forecast to 2026″, is expected to reach USD 2.2 Billion by 2026 from an estimated USD 1.3 Billion in 2021, at a CAGR of 11.2%.

Growth Driver: Growing prevalence of chronic diseases;

The prevalence of chronic diseases has increased significantly in the last few years. Such diseases-including diabetes, osteoporosis, cardiovascular disease (CVD), and multiple sclerosis-require daily or weekly drug administration, typically using pen injectors. In the rapidly growing market, pen injectors have become the new standard for injectable drug delivery systems. Their popularity has soared due to their simplicity, reliability, and ability to be administered directly by the patient without the aid of a physician. The pen needle, a removable attachment, forms an integral part of the pen injector. The length of the needle and its sharpness is critical to ensure that the medication reaches the target tissues. Thus, the growing prevalence of chronic diseases has led to a greater focus on pen needle technologies to effectively handle the growing patient pool and increase patient compliance with therapies.

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Industry Segmentation In Detailed:

The safety pen needles segment holds the highest CAGR during the forecast period.

Based on type, the pen needles market is segmented into standard and safety pen needles. Safety pen needles are seen to be growing at the highest CAGR. Due to the rising awareness regarding the risks associated with blood-borne pathogen transmission, needle safety has become an issue of concern for hospitals, doctors, and patients, thus spurring the demand for safe needles.

The 8mm segment is expected to account for the largest share of the pen needles market

Based on length, the market is segmented into 4mm (5/32’’), 5mm (3/16’’), 6mm (1/4’’), 8mm (5/16’’), 10mm, and 12mm (1/2’’). In 2020, the 8mm segment accounted for the largest share in the pen needles market. The large share of this segment is mainly attributed to the wide adoption of these needles among diabetes patients.

The retail segment is expected to grow at the highest rate during the forecast period

Based on the mode of purchase, the pen needles market is categorized into retail and non-retail. The retail segment accounted for the largest share during the forecast period. The significant discounts offered on online/retail purchases of pen needles, high convenience, increasing awareness on pen needles, and the favorable reimbursement scenario in North America and Europe are some of the key factors driving the growth of the retail segment.

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Leading Key Players and Analysis:

The Prominent players in the pen needles market include Becton, Dickinson and Company (US), Novo Nordisk A/S (Denmark), Ypsomed Holding AG (Switzerland), B. Braun Melsungen AG (Germany), Owen Mumford (UK), Terumo Corporation (Japan), Nipro Corporation (Japan) Allison Medical (US), AdvaCare Pharma (US), Berpu Medical Technology (China), ARKRAY (Japan), GlucoRx (UK), HTL-STREFA (Poland), UltiMed, (US), Hindustan Syringes and Medical Devices (India), Artsana Group (Italy), PromiseMed Diabetes Care (Canada), Montmed (Canada), Trividia Health (US), VOGT Medical Vertrieb (Germany), Van Heek Medical (Netherlands), Simple Diagnostics (US), Iyon (Turkey), Links Medical Products (US), and MHC Medical Products (US).

Geographical Analysis in Detailed:

The pen needles market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific accounted for the highest growth of the needles market in 2020.

The medical industry in the region has grown significantly over the years, and manufacturers are beginning to focus on providing well-established technologies to ensure sustainable and strong future revenue growth. Being a high-growth market, many manufacturers are also extending their global manufacturing bases to the APAC. With the low-cost manufacturing advantage, China and India are regarded as the most profitable manufacturing and R&D locations by most manufacturers. The rising demand for healthcare, driven by the rapid growth in the aging population, the growing prevalence of diabetes and other chronic diseases, drive market growth.

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