Pen Needles Market: Global Industry Analysis and Forecast

Pen Needles Market size was valued at USD 1.67 Bn. in 2022 and the total Pen Needles revenue is expected to grow by 11.5 % from 2023 to 2029, reaching nearly USD 3.58 Bn.

Pen Needles Market Overview:

Pen needles and injection pens are used to give injectable drugs into the body. These instruments include a hollow needle with a variety of lengths and diameters and an injection pen with a plastic hub. The number of individuals who are ill is expected to rise, especially throughout the forecast period as diseases like diabetes become more prevalent. Pen needles are frequently used by those who have diabetes since they frequently need to inject themselves with insulin. Alternative drug administration methods to the conventional syringe or vial approach include injection pens and pen needles. In the past few decades, there has been a substantial advancement in needle technology. Pen needles are now produced and designed for easier use, with electro-polishing for the smoothness of the needle and fine, thin point tips for ease of penetration. As a result, the pen needles market is expected to grow. Pen Needle Market is driven by growing pen needle preference over syringes and vials, growth in the geriatric population, and a preference for minimally invasive procedures. There are not enough endocrinologists to handle hormonal disorders and illnesses like diabetes. The market's growth is hampered by conditions including thyroid disease. Aside from that, there is a high prevalence of diabetes and increased awareness. There is appealing potential for market growth among the diabetic population owing to the ease of drug delivery.

Report Scope:

The research on pen needles provides a very helpful resource that assists investors, stakeholders, decision-makers, and other market participants in becoming familiar with all the factors influencing the growth of the global market. A clear and detailed analysis of key faces of the global market for pen needles is provided by the report's SWOT and other market assessments. The investors will learn about current and upcoming trends in the worldwide market and how those trends will affect the pen needles market's growth for the forecast period. This report contains scenarios for the Pen Needles Market from the past and present, along with projected market numbers. Analysis of important competitors, including market leaders, followers, and new entrants, covers every aspect of the market. The research contains strategic profiles of the top market participants, a full examination of their key competencies, and their company-specific plans for the introduction of new products, growth, partnerships, joint ventures, and acquisitions. With its clear portrayal of competitive analysis of significant companies by product, pricing, financial condition, product portfolio, growth strategies, and regional presence in the domestic and local markets, the research acts as an investor's guide.Pen Needles MarketTo know about the Research Methodology :- Request Free Sample Report

Pen Needles Market Dynamics:

Market Drivers: Growing diabetes patient Pen needle demand is increasing as diabetes is becoming more common. IDF (International Diabetes Federation) estimates that by 2040, there will be 642 million individuals worldwide who have diabetes. The target market is anticipated to continue expanding throughout the anticipated period due to the growing number of diabetics. For administering insulin or any other injectable medication, diabetic patients frequently use these products. Diabetes can develop quite quickly in obese people. Pen Needles MarketObesity is thought to be responsible for 80–85% of the risk of acquiring diabetes, according to The easiest and fastest way to inject drugs is with insulin pens. Along with the rising demand for insulin pens for patients with diabetes, pen needles are in great demand. These add-ons for insulin pens aid in giving the patient the correct dosage of the medication. It's expected that technological developments in the various product categories would also fuel industrial expansion. Concerning the needle length, businesses are concentrating on new product development. For instance, Novo Nordisk declared the NovoFine Plus needle, the smallest and thinnest in the United States, to be commercially available. Everyone, even patients who are overweight, can readily use pen needles that are shorter in length. In comparison to syringes and bottles, insulin pens with needles are thought to be a better alternative drug administration method. Traditional syringes are bulky and make self-administration challenging. Pen needles, on the other hand, have tiny, pointed tips that make it easier to penetrate the patient's muscle. Additionally, these needles help diabetic people receive their insulin safely. Pen Needles Market Chronic diseases are becoming more common Chronic diseases are now far more common than they were a few years ago. These conditions, which include diabetes, osteoporosis, cardiovascular disease (CVD), and multiple sclerosis, necessitate the daily or weekly administration of medications, often administered using pen injectors. Pen injectors have replaced other injectable medication delivery technologies as the new norm in the market, which is growing quickly. Their ease of use, dependability, and capacity to be taken directly by the patient without the assistance of a doctor have all contributed to their meteoric rise in popularity. The pen injector's removable attachment, the pen needle is an essential component. To make sure that the drug reaches the intended tissues, the needle's length and sharpness are essential. Thanks to pen needle technologies are receiving more attention to efficiently manage the growing patient population and boost patient compliance with therapies owing to the growing prevalence of chronic diseases. Market Restraints: Preference for alternate drug delivery methods Pen needles are a convenient and hassle-free way to administer medication, but they are also linked to discomfort, hyperglycemia, and infections from needlesticks. Some individuals on insulin pen therapy have hyperglycemia because the dose cannot be controlled. Owing to their capability to execute automated insulin suspension and reduce the danger of hypoglycemia, insulin pumps have therefore replaced insulin pens in the treatment of diabetes in Europe. This is a significant barrier to market growth. Although needle-free medication delivery methods have partially addressed this problem, they have a limited number of therapeutic applications. However, a shortage of medical professionals for treating hormonal imbalances and conditions like thyroid disorders, diabetes, and others, as well as a lack of training and education for patients and caregivers on the proper usage of pen needles, are expected to restrain the growth of the global pen needles market. Market Opportunities: Demand for biosimilar drugs Many pharmaceutical firms, including JCR Pharmaceuticals Co., Ltd., Teva Pharmaceutical Industries Ltd., and Sandoz (Germany), launched biosimilars. The need for biosimilars has grown dramatically because of their cheaper costs (in comparison to their proprietary counterparts). Additionally, the market for biosimilars is boosted by the upcoming patent expiration of numerous biological substances. The adoption of generics and biosimilars is being encouraged by insurance companies and governments alike. For instance, the biosimilars Basaglar (available in injection pens) by Eli Lilly and Adrenaclick (an autoinjector) by Amedra Pharmaceuticals have taken the place of branded injectable medications like Lantus by Sanofi and EpiPen by Mylan at CVS Caremark, a significant prescription insurer in the US. Given that Basaglar is delivered using a pen injector, this benefits the market for pen needles. Since many other injectable medications also require pen injection, the growing popularity of biosimilar medications and the backing of regulatory bodies and insurance companies guarantee significant development prospects in this industry. Geriatric patients' growing demand The global pen needles market is expected to be driven by an increase in the elderly population, a surge in the choice of pen needles over vials and syringes, a preference for minimally invasive operations, and an increase in the incidence of diabetes and obesity. According to the International Diabetes Federation, 631 million persons between the ages of 20 and 79 are expected to have diabetes by 2045, up from an estimated 429 million in 2021. The American Diabetes Association reports that in 2021, diabetes accounted for approximately 83,535 fatalities in the United States with diabetes as the primary cause and approximately 252,815 deaths with diabetes as an underlying or contributing factor. Moreover, the development of the world market for pen needles is aided by technical improvements. Market Challenges: Reuse in pen needles The habit of recycling pen needles is widespread throughout the world, with rates ranging from as low as 30% to a surprising 95% of patients worldwide. In China, around 98.35% of patients reuse insulin pen needles, according to a study that was published in Value Health Journal. The most frequent causes of this include cost, convenience, and a lack of reimbursements in many poor nations. Reusing pen needles reduces the demand for new needles, which is a major issue impeding the market growth. Additionally, a study by the Moscow Regional Research Clinical Institute discovered that germs were already present on pen needles upon use and that the growth of bacteria on needles accelerated with additional reuse. Pen needle reuse raises safety issues because it can result in several problems including poor glycemic control, infection, and lipohypertrophy.

Pen Needles Market Segment Analysis:

Based on Product, In 2022, the standard pen needles market category dominated the market and was responsible for more than 88.5% of total sales. The frequent use of these drugs in higher dosages by diabetic patients was blamed for the rise. Common users of these needles include those who have handiness issues. However, owing to the significant danger of needlestick injuries, these needles are not recommended because they make pen needles less safe to use. Their demand is therefore expected to be limited in the short term. In homes, standard pen needles are more frequently used. Incorrect doses and associated difficulties are caused by a lack of basic instruction on how to use these devices properly. These gadgets, such as the NovoLog FlexPen and Lantus SoloStar, are just a few examples. Some of the reasons promoting the growth of this segment include the growing number of diabetics and the level of awareness regarding the use of insulin pens. Owing to the increasing technological developments in this industry, safety pen needles are expected to increase at a profitable pace during the forecast period. These tools make it possible to reduce patient needlestick injuries. Thanks to their effectiveness in providing injections to patients who are bedridden and in emergency rooms, safety pen needles are in high demand in hospital settings. Some of the well-known manufacturers of safety needles include BD Autoshield Duo Pen Needles, Novofine, and Accu-Fine Pen Needles. Pen Needles MarketBased on Needle length, The 8mm-sized segment dominated the global pen needles market in 2022 and was responsible for the highest proportion of more than 25.00% of the total revenue among the different needle lengths. The majority of patients, including those with the target disease who are overweight, are given these kinds of needles. 8mm needles are preferred in domestic settings owing to their advantages such as safety, user convenience, and ease of disposal. The category growth is expected to be supported by several other factors, including accessibility and affordability. Thanks to their bigger size, the needles are less likely to cause a needlestick injury and are simple and safe to dispose of. Additionally, these are suggested since they are simple to distinguish from other sharp trash. Owing to the short length of these devices, the 4mm-sized needle pen sector is expected to grow at the fastest CAGR during the forecast period. Patients are using shorter, thinner needles more frequently because they provide a higher level of comfort than injections. Their thin layer makes it simple to access the patient's subcutaneous tissue. Recent research has shown that short-length needles are equally effective as their longer counterparts. People with trypanophobia problems easily utilize these needles. The use of 4mm and smaller needles aids in reducing side effects from intramuscular injection and inconsistent doses. Pen Needles MarketBased on Therapy, The global market has been divided into insulin, GLP-1, and growth hormone segments based on therapy. In 2022, the insulin therapy market category held the largest market share, contributing more than 90.00% of the total revenue. The market is expected to grow profitably during the forecast period. This is brought on by people with Type 1 and Type 2 diabetes becoming more and more aware of the benefits of self-administration of insulin. Additionally expected to develop moderately soon is GLP-1 therapy. This is a result of its potential to lower blood glucose levels in people with type 2 diabetes. The use of GLP-1 treatment is viewed as a superior substitute for insulin. Some of these medications are typically used once a week. Injections are given less frequently, which improves patient convenience.

Pen Needles Market Regional Insights:

Europe held a 40.0% revenue share in 2022, owing to the target disease's growing incidence in this region. The variables for the big market share include a high patient volume and expensive product pricing. The region's adoption of innovative gadgets is being aided by growing patient awareness and advantageous reimbursement conditions. Additionally expected demand drivers are the region's growing obesity rates and inactive lifestyles. The British government is taking steps to invest in diabetes research and care to advance how diabetic patients are treated. During the forecast period, the Asia Pacific region is expected to experience a promising growth rate. Diabetes prevalence, obesity rates, and other lifestyle problems are all on the rise. The lack of government-funded insurance and reimbursement programs as well as low levels of consumer awareness about new products are to blame for the restricted use of the newest pen needles. However, this area has the highest prevalence of diabetes in the entire world. Major market competitors are concentrating on offering cost-effective solutions, which aid in boosting the uptake of cutting-edge treatment options. Government assistance and local production help to reduce final costs. One of the factors making this location more appealing to international players is the rise in medical tourism. The market growth is expected to be boosted by the growing penetration of private insurance providers and franchises offering healthcare services internationally.

Pen Needles Market Scope: Inquire before buying

Pen Needles Market
Report Coverage Details
Base Year: 2022 Forecast Period: 2023-2029
Historical Data: 2017 to 2022 Market Size in 2022: US $ 1.67 Bn.
Forecast Period 2023 to 2029 CAGR: 11.5% Market Size in 2029: US $ 3.58 Bn.
Segments Covered: by Product • Standard Pen Needles • Safety Pen Needles
by Needle Length • 4 mm • 5 mm • 6 mm • 8 mm • 10 mm • 12 mm
by Therapy • Insulin • Glucagon-like-Peptide-1 (GLP-1) • Growth Hormone

Pen Needles Market, by Region

• North America (United States, Canada and Mexico) • Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) • Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) • Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) • South America (Brazil, Argentina Rest of South America)

Pen Needles Market, Key Players are:

• B. Braun (Germany) • KD Medical GmbH Hospital Products (Germany) • GlucoRx Ltd (UK) • Owen Mumford (UK) • HTL-STREFA S.A. (Poland) • VOGT MEDICAL (Ukraine) • Van Heek Medical (Netherlands) • Ypsomed Holding AG (Switzerland) • Novo Nordisk A/S (Denmark) • Rays SpA (Italy) • Terumo Corporation (Japan) • Nipro Corporation (Japan) • ARKRAY, Inc. (Japan) • Berpu Medical Technology Co., Ltd. (China) • Hindustan Syringes & Medical Devices Ltd (India) • Cipla Limited (India) • Becton, Dickinson and Company (US) • Allison Medical Inc (US) • AdvaCare Pharma (US) • UltiMed (US) • Promisemed Medical Device Inc. (US) • Simple Diagnostics (US) • Links Medical Products (US) • MHC Medical Products, LLC (US) • Trividia Health (US) Frequently Asked Questions: 1] What segments are covered in the Global Pen Needles Market report? Ans. The segments covered in the Pen Needles Market report are based on Product, Needle Length, and Therapy. 2] Which region is expected to hold the highest share in the Global Pen Needles Market? Ans. The Europe region is expected to hold the highest share in the Pen Needles Market. 3] What is the market size of the Global Pen Needles Market by 2029? Ans. The market size of the Pen Needles Market by 2029 is expected to reach US$ 3.58 Bn. 4] What is the forecast period for the Global Pen Needles Market? Ans. The forecast period for the Pen Needles Market is 2023-2029. 5] What was the market size of the Global Pen Needles Market in 2022? Ans. The market size of the Pen Needles Market in 2022 was valued at US$ 1.67 Bn.
1. Global Pen Needles Market: Research Methodology 2. Global Pen Needles Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Pen Needles Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Pen Needles Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Global Pen Needles Market Segmentation 4.1 Global Pen Needles Market, by Product (2022-2029) • Standard Pen Needles • Safety Pen Needles 4.2 Global Pen Needles Market, by Needle Length (2022-2029) • 4 mm • 5 mm • 6 mm • 8 mm • 10 mm • 12 mm 4.3 Global Pen Needles Market, by Therapy (2022-2029) • Insulin • Glucagon-like-Peptide-1 (GLP-1) • Growth Hormone 5. North America Pen Needles Market(2022-2029) 5.1 North America Pen Needles Market, by Product (2022-2029) • Standard Pen Needles • Safety Pen Needles 5.2 North America Pen Needles Market, by Needle Length (2022-2029) • 4 mm • 5 mm • 6 mm • 8 mm • 10 mm • 12 mm 5.3 North America Pen Needles Market, by Therapy (2022-2029) • Insulin • Glucagon-like-Peptide-1 (GLP-1) • Growth Hormone 5.4 North America Pen Needles Market, by Country (2022-2029) • United States • Canada • Mexico 6. Europe Pen Needles Market (2022-2029) 6.1. European Pen Needles Market, by Product (2022-2029) 6.2. European Pen Needles Market, by Needle Length (2022-2029) 6.3. European Pen Needles Market, by Therapy (2022-2029) 6.4. European Pen Needles Market, by Country (2022-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Pen Needles Market (2022-2029) 7.1. Asia Pacific Pen Needles Market, by Product (2022-2029) 7.2. Asia Pacific Pen Needles Market, by Needle Length (2022-2029) 7.3. Asia Pacific Pen Needles Market, by Therapy (2022-2029) 7.4. Asia Pacific Pen Needles Market, by Country (2022-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Pen Needles Market (2022-2029) 8.1 Middle East and Africa Pen Needles Market, by Product (2022-2029) 8.2. Middle East and Africa Pen Needles Market, by Needle Length (2022-2029) 8.3. Middle East and Africa Pen Needles Market, by Therapy (2022-2029) 8.4. Middle East and Africa Pen Needles Market, by Country (2022-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Pen Needles Market (2022-2029) 9.1. South America Pen Needles Market, by Product (2022-2029) 9.2. South America Pen Needles Market, by Needle Length (2022-2029) 9.3. South America Pen Needles Market, by Therapy (2022-2029) 9.4 South America Pen Needles Market, by Country (2022-2029) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1 B. Braun (Germany) 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. KD Medical GmbH Hospital Products (Germany) 10.3. GlucoRx Ltd (UK) 10.4. Owen Mumford (UK) 10.5. HTL-STREFA S.A. (Poland) 10.6. VOGT MEDICAL (Ukraine) 10.7. Van Heek Medical (Netherlands) 10.8. Ypsomed Holding AG (Switzerland) 10.9. Novo Nordisk A/S (Denmark) 10.10. Rays SpA (Italy) 10.11. Terumo Corporation (Japan) 10.12. Nipro Corporation (Japan) 10.13. ARKRAY, Inc. (Japan) 10.14. Berpu Medical Technology Co., Ltd. (China) 10.15. Hindustan Syringes & Medical Devices Ltd (India) 10.16. Cipla Limited (India) 10.17. Becton, Dickinson and Company (US) 10.18. Allison Medical Inc (US) 10.19. AdvaCare Pharma (US) 10.20. UltiMed (US) 10.21. Promisemed Medical Device Inc. (US) 10.22. Simple Diagnostics (US) 10.23. Links Medical Products (US) 10.24. MHC Medical Products, LLC (US) 10.25. Trividia Health (US)

About This Report

Report ID 159780
Category Medical Devices
Published Date May 2023
Updated Date