Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
The Asia Pacific Lancet and Pen Needles Market is a critical component of diabetes care, providing essential tools for blood glucose monitoring and insulin delivery. Understanding the market dynamics is crucial for manufacturers and healthcare providers addressing the diverse needs of individuals managing diabetes in the Asia Pacific region.
The region of Asia Pacific has seen an upsurge in diabetic population causing demand in lancets and pen needle to rise comparatively. However, as the number of diagnosed diabetics increases the need for blood glucose monitor and insulin delivery devices becomes urgent and crucial.
A constant pace of new developments fuel innovativeness in lancets and pen needles. After proper hygiene, the application of painless glucose monitor sensors takes few seconds and does not demand nutritional consumption; hence, the user interface is changed making people with diabetes comfortable.
Understanding the value of consistent monitoring and insulin administration drives market forces. Users supplies account for up to 75 percent of the total lancet and pen needle supplies. Individuals are therefore very aware and well informed of knowing how to care for diabetes, leading to more demands for user friendly lancets and pen needles.
A wider trend toward home healthcare delineates the market. Pen needles and preloaded syringes for self-administration at home match the desire for self-monitoring and insulin application through the introduction of which the market dynamics are formed.
Economic factors are very influential when it comes to the nature of a market. Lancets and pen needles, being cost-effective, serves a wide group of people with different economic situations, guaranteeing availability to people within various income levels in the Asia Pacific region.
This is detrimental owing to the fact that the government initiatives and healthcare policy that works towards the market l takes on the dynamics of the market. Among polices that influence the adoption and usage of the lancets and pen needles; are policies advocating awareness on diabetes, availability of essential diabetic care products and reimbursement structures.
It is cultural factors and demographic differences across the Asia Pacific region influence the market. The choice of product design, intended for local population has to take into consideration a wide diversity in preferences, the means and behaviors of health seeking in various countries.
Medication therapy management systems make, market dynamics by initiatives top support the patients and healthcare professionals. Knowing the right way to use lancets and pen needles also helps develop better compliance of blood glucose monitoring and insulin administration against the backdrop.
Choice of distribution channels affects market dynamics greatly. Lancets and pen needles availability via drugstores, online stores, and healthcare entities influence both the availability of the products and consumer perceptions.
The market is influenced significantly by strict regulatory standards along with compliance with health authorities such as the China Food and Drug Administration (CFDA) as well as with other regional bodies. These regulatory demands necessitate the attaining of regulatory approval and entering the market for manufacturers.
The emergence of market dynamics in Asia Pacific region comprises the adoption of telemedicine and digital health platforms. Distal cheap lancets and pen needles are still mostly marketed in low-income, non-English speaking countries but globally, there is also the supply of local and international digital solutions which offer remote consultations and prescription services around diabetes management ( Evenson, 2019).
The market is segmented based on factors such as needle gauge, needle length, and distribution channels. Understanding these segments is crucial for manufacturers to tailor their lancets and pen needles to specific regional preferences and patient needs.
Asia Pacific Lancet Pen Needels Market Highlights:
Market Scenario:
The Asia Pacific lancet and pen needles market is projected to reach USD 3,141.60 Million by 2030 at 12.2% CAGR during the forecast period 2022-2030.Lancet and pen needles can be effectively used for the blood-based diagnosis, monitoring, and medication of diseases like diabetes and osteoporosis. Pen needles are used in conjunction with the injection pens. Structurally, a pen needle consists of a hollow needle, which is embedded in a plastic hub and attaches to the injection pen. The lancet are double edged blades or needles and appears similar to the small scalpels. The market for lancet and pen needles is expected to grow at a healthy CAGR during the forecast period in the Asia Pacific region due to increasing prevalence of diseases like diabetes and osteoporosis. According to a study conducted by the American Diabetes Association in 2016, about 80% of the diabetic patients resides in the developing countries and it is estimated that the rise of type 2 diabetes in South Asia is likely to be 150% between 2000 and 2035. Moreover, in the Western Pacific region, the number of diabetic patients is expected to reach 201.8 million by 2035. Additionally, according to the International Osteoporosis Foundation by 2050, over ~50% of all osteoporotic hip fractures are expected to occur in Asia. Factors such as increasing geriatric population and growing healthcare expenditure along with favourable government policies are projected to boost the market growth during the forecast period. However, the need to remove the pin after a single use and high cost as compared to the insulin vials may restrain the market growth during the forecast period.
Intended Audience
- Pharmaceutical companies
- Biotechnological institutes
- Government and Private Laboratories
- Research and Development (R&D) Companies
- Medical Research Laboratories
- Market Research and Consulting Service Providers
Figure 1:- Asia Pacific lancet and pen needles market share, by end users 
Sources: WHO, annual reports, press release, white paper, and company presentation
Segmentation
The Asia Pacific lancet and pen needles market is segmented on the basis of therapy, gauge, needle length, and end users.
On the basis of the therapy, the market is segmented into insulin, glucagon-like peptide-1 (GLP-1), growth hormones, and others.
On the basis of the gauge, the market is categorized into 17/18G, 21G, 23G, and others.
On the basis of the needle length, the market is segmented into 4mm, 8mm, 12mm, and others.
On the basis of the end users, the market is segmented into hospitals & clinics, medical institutions & research organizations, and others.
Regional Analysis
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 the well-developed healthcare sector and high per capita healthcare expenditure. In 2014, according to the Statistics Bureau, Japan’s total medical care expenditure was about 11.20% of the national income, which accounted for USD 0.37 trillion. Additionally, favorable governmental policies boost the market growth in these regions.
China and India have a growing market due to huge population base, increasing demand for the better quality products, rapidly changing the economy, increasing healthcare expenditure, and rising number of pharmaceutical & biotechnological companies. Moreover, increasing number of healthcare organizations like a hospital, the private research institute has led to increasing in the market in India. Rest of Asia Pacific holds the least share of the market.
Research Methodology
Sources: WHO, annual reports, press release, white paper, and company presentation
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.
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
