Lancet and pen needles are extensively utilized for the monitoring, diagnosis, and medication of several diseases such as diabetes and osteoporosis. The increasing prevalence of diabetes and osteoporosis within the Asia Pacific region majorly drives the market growth. In 2016, a study was conducted by the American Diabetes Association, which stated that about 80% of the diabetic patients resides in the developing countries. It was also estimated that the rise of type 2 diabetes in South Asia may grow by over 150% from 2000 to 2035. Moreover, in the Western Pacific region, the number of diabetic patients is expected to rise to 201.8 million by 2035.
Additionally, according to the International Osteoporosis Foundation by 2050, over ~50% of all osteoporotic hip fractures are projected occur in Asia. Additionally, increasing geriatric population and growing healthcare expenditure along with favorable government policies may boost the market growth during the forecast period. However, the need to remove the pin after a single use and the high cost as compared to the insulin vials may restrain the market growth during the forecast period.
The Asia Pacific Lancet And Pen Needles Market is expected to grow at a CAGR of 6.5% during the forecast period.
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Key players For Asia Pacific Lancet And Pen Needles Market
Some of the key players in the Asia Pacific Lancet And Pen Needles Market are BD. (U.S.), Novo Nordisk A/S (Europe), Ypsomed (Europe), B. Braun Melsungen AG (Europe), HTL-STREFA (Europe), Terumo Corporation (Asia Pacific), Artsana S.p.A. (Europe), Owen Mumford Ltd. (Europe), and others.
Regional Analysis for Asia Pacific Lancet and Pen Needles Market
On the regional basis Asia Pacific is segmented into Japan, India, China, the republic of Korea, Australia and the Rest of Asia Pacific.
Japan holds a major share of the market followed by the republic of Korea and Australia owing to well-developed healthcare sector and high per capita healthcare expenditure. Moreover, growing geriatric population boosts the market growth during the forecast period.
China and India has a growing market due to huge population base, rapidly changing economy, increasing healthcare expenditure, and rising number of pharmaceutical & biotechnological companies.
According to the Indian Brand Equity Foundation in 2017, the Indian healthcare sector is estimated to be one of the fastest growing region and is expected to grow at a CAGR of 22.87% and reach USD280 billion by 2020. Moreover, increasing number of healthcare organizations like hospital, private research institute has led the market growth in India. Rest of Asia Pacific holds the least share of the market.
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Some Brief Table of Content for Asia Pacific Lancet and Pen Needles Market Report
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope of The Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
LIST OF TABLES
Table 1 Lancet And Pen Needles Industry Synopsis, 2017-2023
Table 2 Asia Pacific Lancet And Pen Needles Market Estimates And Forecast, 2017-2023, (USD Million)
Table 3 Asia Pacific Lancet And Pen Needles Market By Region, 2017-2023, (USD Million)
Table 4 Asia Pacific Lancet And Pen Needles Market By Therapy, 2017-2023, (USD Million)
Table 5 Asia Pacific Lancet And Pen Needles Market By Gauge, 2017-2023, (USD Million)
Table 6 Asia Pacific Lancet And Pen Needles Market By Needle Length, 2017-2023, (USD Million)
Table 7 Asia Pacific Lancet And Pen Needles Market By End Users, 2017-2023, (USD Million)
Table 8 Japan Lancet And Pen Needles Market By Therapy, 2017-2023, (USD Million)
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