The Indian pen needle market is anticipated to grow at a CAGR of 10.1% during the forecast period. An increased number of people suffering from diabetes in the country increases the demand for pen needles, which is a major factor fuelling the growth of the market. According to the International Diabetes Federation (IDF), in 2019, India has the second-largest number of adults suffering from diabetes globally that is 77 million adults (20-79 years). Additionally, improving healthcare infrastructure is also enhancing the market growth. Further, the global players are strengthening their position in the country with the launch of new products, hence driving the market growth.

The Indian pen needle market is segmented based on type, therapy, and mode of purchase. Based on the type, the market is sub-segmented into a standard pen needle and safety pen needle. The standard pen needles segment is estimated to contribute a significant share in the market. Based on the therapy, the market is sub-segmented into, insulin, GLP-1, growth hormones. Pen needles for insulin are estimated to contribute a prominent share in the market and are projected to do so during the forecast period. Based on the mode of purchase, the market is bifurcated into retail and non-retail. The retail segment is estimated to contribute significantly to market growth.

Some of the global players operating in the Indian pen needle market include Hindustan Syringes & Medical Devices Ltd., B. Braun Melsungen AG, Becton, Dickson, and Company, Novo Nordisk A/S, and others. The market players are considerably contributing to the market growth by adopting various strategies including mergers, and acquisitions, collaborations, and funding, to stay competitive in the market. For instance, in May 2018, Hindustan Syringes & Medical Devices Ltd. has launched the first “Made in India” Dispovan Insulin Pen Needle” which is affordable and intended for single-use to provide better comfort for people with diabetes.

Research Methodology

The market study of the Indian pen needle market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report is intended for pen needles manufacturers, insulin pen manufacturers, component manufacturers, government organizations, regulatory bodies, hospitals & pharmacies, research institutes, and other market participants for overall market analysis and competitive analysis. The report provides an in-depth analysis of market size, different products, and growth opportunities in the market. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions.

Market Segmentation

1. India Pen Needle Market Research and Analysis by Type
2. India Pen Needle Market Research and Analysis by Therapy
3. India Pen Needle Market Research and Analysis by Mode of Purchase 

The Report Covers

• Comprehensive research methodology of the Indian pen needle market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the Indian pen needle market.
• Insights about market determinants which are stimulating the Indian pen needle market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.