HOME Research Insight Marketing and Promotion Was the Major Growth Strategy Adopted by Players in the Pen Needles Market

Marketing and Promotion Was the Major Growth Strategy Adopted by Players in the Pen Needles Market

The overall pen needles market is dominated by Becton, Dickinson and Company (U.S.), Novo Nordisk A/S (Denmark), and Ypsomed Holding AG (Switzerland). These players jointly accounted for approximately 90% of the market in 2016. Other players having significant presence in this market include Owen Mumford, Ltd. (U.K.), HTL-STREFA S.A. (Poland), B. Braun Melsungen (Germany), Terumo Corporation (Japan), UltiMed, Inc. (U.S.), Allison Medical, Inc. (U.S.), and Artsana S.p.a. (Italy).

Becton, Dickinson and Company (U.S.) is among the leading players in the pen needles market. A wide product portfolio, high focus on increasing company presence in the emerging economies, and continuous launch of new and innovative products are contributing to the company’s dominance in this market. The company has high focus on innovation through the launch of new products. During 2013 to 2016, the company launched several pen needles. For instance, in August 2014, BD made its AutoShield Duo Pen Needle available in retail pharmacy stores in the U.S. for people with diabetes.

Novo Nordisk A/S (Denmark) is another major player in the pen needles market. The company has a well-established brand and has operations in over 75 countries. To maintain its leadership position, the company is at the forefront for the development of new products. New products launched include NovoFine Plus, an ultra-thin and ultra-short pen needle, in January 2014. Adding to this, with the aim to build a sustainable market position, the company has launched a dedicated program named “Changing Diabetes” through which it supplies free insulin to more than 3,400 children across 9 countries. As of 2015, 108 clinics were established and more than 6,500 health professionals were trained or re-trained.

Ypsomed Holding AG (Switzerland) is another dominant player in the global pen needles market. The company is a leading provider of insulin pumps and customized injection systems for biotechnology and pharmaceutical companies focused on the treatment of diabetes, growth disturbances, infertility, and other therapeutic areas. The company aims at launching new products to meet customer needs directed towards easier injection experience. In line with this, in February 2016, Ypsomed launched new pen needles for its mylife Clickfine DiamondTip injection in Germany, Austria and Switzerland. These pen needles feature characteristic 6-bevel needle tips.

The other players in this market have implemented various strategies to expand their global footprints and increase their market shares. Major growth strategies followed by market players include new product launches, distribution agreements, collaborations, marketing and promotion activities, and partnerships. Marketing and promotional activities accounted for a major share followed by expansions, which accounted for the second-largest share of the total number of key growth strategies adopted by players in the pen needles market during 2013 to 2016. Product launches, partnerships, distribution agreements, website launches, acquisitions, and market developments are some of the other strategies adopted by players to achieve growth in the pen needles market.

Related Reports:

Pen Needles Market by Type (Standard Pen Needles, Safety Pen Needles), Needle Length (4mm, 5mm, 6mm, 8mm, 10mm, 12mm), Therapy (Insulin, GLP-1, Growth Hormone), Mode of Purchase (Retail, Non-Retail) - Trends & Global Forecasts to 2021

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