The global pen needles market size was estimated to be around US$ 3.50 billion in 2023 and is projected to reach US$ 9.48 billion by 2032, indicating a CAGR of 11.70% from 2023 to 2032.
Key Takeaways
- Europe contributed more than 38% of revenue share in 2022.
- Asia-Pacific is estimated to expand the fastest CAGR between 2023 and 2032.
- The standard segment has held the largest market share of 87% in 2022.
- The safety pen needles segment is anticipated to grow at a remarkable CAGR of 13.1% between 2023 and 2032.
- The 8mm segment generated over 35% of revenue share in 2022.
- The 4mm segment is expected to expand at the fastest CAGR over the projected period.
- The insulin therapy segment generated over 78% of revenue share in 2022.
- The glucagon-like-peptide-1 segment is expected to expand at the fastest CAGR over the projected period.
The Pen Needles Market is a dynamic sector within the healthcare industry, primarily driven by the rising prevalence of diabetes worldwide. Pen needles are essential components of insulin delivery systems, providing a convenient and efficient method for patients to self-administer insulin. The market has witnessed significant growth owing to advancements in needle technology, increased awareness about diabetes management, and the growing aging population.
Growth Factors:
Several factors contribute to the growth of the Pen Needles Market. The increasing incidence of diabetes, coupled with a shift towards more convenient and patient-friendly insulin delivery methods, has been a major driving force. Technological innovations, such as the development of ultra-thin and painless needles, have further propelled market expansion. Additionally, the rising emphasis on home healthcare and the ease of use associated with pen needles have spurred market growth.
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Dominated Region:
The market exhibits a notable dominance in North America, attributed to the high prevalence of diabetes, advanced healthcare infrastructure, and early adoption of innovative medical technologies. Europe follows closely, benefitting from a similar demographic landscape and a proactive approach to diabetes management. Emerging economies in Asia-Pacific are also witnessing rapid growth due to increased diabetes awareness and improving healthcare facilities.
Pen Needles Market Scope
| Report Coverage | Details |
| Growth Rate from 2023 to 2032 | CAGR of 11.70% |
| Market Size in 2023 | USD 3.50 Billion |
| Market Size by 2032 | USD 9.48 Billion |
| Largest Market | Europe |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Segments Covered | By Product, By Needle Length, By Therapy |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Drivers:
Key drivers of the Pen Needles Market include the escalating global diabetic population, favorable reimbursement policies, and the increasing trend towards self-administration of insulin. Moreover, strategic collaborations between pharmaceutical companies and needle manufacturers contribute to product development and market expansion.
Challenges:
Despite its growth, the market faces challenges such as the stringent regulatory landscape, particularly in developed regions. Pricing pressures and the presence of alternative insulin delivery methods pose challenges to market players. Additionally, awareness gaps and limited access to healthcare in certain regions act as obstacles to market penetration.
Opportunities:
Opportunities abound in the Pen Needles Market with the ongoing research and development of advanced needle technologies, such as smart insulin pens and connected devices. The untapped potential in emerging markets presents a significant growth opportunity for manufacturers. Furthermore, initiatives promoting diabetes awareness and education could open new avenues for market expansion.
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Pen Needles Market Players
- Becton, Dickinson and Company
- Novo Nordisk A/S
- Ypsomed AG
- Owen Mumford Ltd.
- HTL-STREFA S.A.
- Terumo Corporation
- Allison Medical, Inc.
- Artsana S.p.A.
- Trividia Health, Inc.
- Perrigo Company plc
- B. Braun Melsungen AG
- UltiMed, Inc.
- Simple Diagnostics
- Arkray, Inc.
- GlucoRx Ltd.
Segments Covered in the Report
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
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Pen Needles Market
5.1. COVID-19 Landscape: Pen Needles Industry Impact
5.2. COVID 19 – Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Pen Needles Market, By Product
8.1. Pen Needles Market Revenue and Volume, by Product, 2023-2032
8.1.1 Standard Pen Needles
8.1.1.1. Market Revenue and Volume Forecast (2020-2032)
8.1.2. Safety Pen Needles
8.1.2.1. Market Revenue and Volume Forecast (2020-2032)
Chapter 9. Global Pen Needles Market, By Needle Length
9.1. Pen Needles Market Revenue and Volume, by Needle Length, 2023-2032
9.1.1. 4 mm
9.1.1.1. Market Revenue and Volume Forecast (2020-2032)
9.1.2. 5 mm
9.1.2.1. Market Revenue and Volume Forecast (2020-2032)
9.1.3. 6 mm
9.1.3.1. Market Revenue and Volume Forecast (2020-2032)
9.1.4. 8 mm
9.1.4.1. Market Revenue and Volume Forecast (2020-2032)
9.1.5. 10 mm
9.1.5.1. Market Revenue and Volume Forecast (2020-2032)
9.1.6. 12 mm
9.1.6.1. Market Revenue and Volume Forecast (2020-2032)
Chapter 10. Global Pen Needles Market, By Therapy
10.1. Pen Needles Market Revenue and Volume, by Therapy, 2023-2032
10.1.1. Insulin
10.1.1.1. Market Revenue and Volume Forecast (2020-2032)
10.1.2. Glucagon-like-Peptide-1 (GLP-1)
10.1.2.1. Market Revenue and Volume Forecast (2020-2032)
10.1.3. Growth Hormone
10.1.3.1. Market Revenue and Volume Forecast (2020-2032)
Chapter 11. Global Pen Needles Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Volume Forecast, by Product (2020-2032)
11.1.2. Market Revenue and Volume Forecast, by Needle Length (2020-2032)
11.1.3. Market Revenue and Volume Forecast, by Therapy (2020-2032)
11.1.4. U.S.
11.1.4.1. Market Revenue and Volume Forecast, by Product (2020-2032)
11.1.4.2. Market Revenue and Volume Forecast, by Needle Length (2020-2032)
11.1.4.3. Market Revenue and Volume Forecast, by Therapy (2020-2032)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Volume Forecast, by Product (2020-2032)
11.1.5.2. Market Revenue and Volume Forecast, by Needle Length (2020-2032)
11.1.5.3. Market Revenue and Volume Forecast, by Therapy (2020-2032)
11.2. Europe
11.2.1. Market Revenue and Volume Forecast, by Product (2020-2032)
11.2.2. Market Revenue and Volume Forecast, by Needle Length (2020-2032)
11.2.3. Market Revenue and Volume Forecast, by Therapy (2020-2032)
11.2.4. UK
11.2.4.1. Market Revenue and Volume Forecast, by Product (2020-2032)
11.2.4.2. Market Revenue and Volume Forecast, by Needle Length (2020-2032)
11.2.4.3. Market Revenue and Volume Forecast, by Therapy (2020-2032)
11.2.5. Germany
11.2.5.1. Market Revenue and Volume Forecast, by Product (2020-2032)
11.2.5.2. Market Revenue and Volume Forecast, by Needle Length (2020-2032)
11.2.5.3. Market Revenue and Volume Forecast, by Therapy (2020-2032)
11.2.6. France
11.2.6.1. Market Revenue and Volume Forecast, by Product (2020-2032)
11.2.6.2. Market Revenue and Volume Forecast, by Needle Length (2020-2032)
11.2.6.3. Market Revenue and Volume Forecast, by Therapy (2020-2032)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Volume Forecast, by Product (2020-2032)
11.2.7.2. Market Revenue and Volume Forecast, by Needle Length (2020-2032)
11.2.7.3. Market Revenue and Volume Forecast, by Therapy (2020-2032)
11.3. APAC
11.3.1. Market Revenue and Volume Forecast, by Product (2020-2032)
11.3.2. Market Revenue and Volume Forecast, by Needle Length (2020-2032)
11.3.3. Market Revenue and Volume Forecast, by Therapy (2020-2032)
11.3.4. India
11.3.4.1. Market Revenue and Volume Forecast, by Product (2020-2032)
11.3.4.2. Market Revenue and Volume Forecast, by Needle Length (2020-2032)
11.3.4.3. Market Revenue and Volume Forecast, by Therapy (2020-2032)
11.3.5. China
11.3.5.1. Market Revenue and Volume Forecast, by Product (2020-2032)
11.3.5.2. Market Revenue and Volume Forecast, by Needle Length (2020-2032)
11.3.5.3. Market Revenue and Volume Forecast, by Therapy (2020-2032)
11.3.6. Japan
11.3.6.1. Market Revenue and Volume Forecast, by Product (2020-2032)
11.3.6.2. Market Revenue and Volume Forecast, by Needle Length (2020-2032)
11.3.6.3. Market Revenue and Volume Forecast, by Therapy (2020-2032)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Volume Forecast, by Product (2020-2032)
11.3.7.2. Market Revenue and Volume Forecast, by Needle Length (2020-2032)
11.3.7.3. Market Revenue and Volume Forecast, by Therapy (2020-2032)
11.4. MEA
11.4.1. Market Revenue and Volume Forecast, by Product (2020-2032)
11.4.2. Market Revenue and Volume Forecast, by Needle Length (2020-2032)
11.4.3. Market Revenue and Volume Forecast, by Therapy (2020-2032)
11.4.4. GCC
11.4.4.1. Market Revenue and Volume Forecast, by Product (2020-2032)
11.4.4.2. Market Revenue and Volume Forecast, by Needle Length (2020-2032)
11.4.4.3. Market Revenue and Volume Forecast, by Therapy (2020-2032)
11.4.5. North Africa
11.4.5.1. Market Revenue and Volume Forecast, by Product (2020-2032)
11.4.5.2. Market Revenue and Volume Forecast, by Needle Length (2020-2032)
11.4.5.3. Market Revenue and Volume Forecast, by Therapy (2020-2032)
11.4.6. South Africa
11.4.6.1. Market Revenue and Volume Forecast, by Product (2020-2032)
11.4.6.2. Market Revenue and Volume Forecast, by Needle Length (2020-2032)
11.4.6.3. Market Revenue and Volume Forecast, by Therapy (2020-2032)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Volume Forecast, by Product (2020-2032)
11.4.7.2. Market Revenue and Volume Forecast, by Needle Length (2020-2032)
11.4.7.3. Market Revenue and Volume Forecast, by Therapy (2020-2032)
11.5. Latin America
11.5.1. Market Revenue and Volume Forecast, by Product (2020-2032)
11.5.2. Market Revenue and Volume Forecast, by Needle Length (2020-2032)
11.5.3. Market Revenue and Volume Forecast, by Therapy (2020-2032)
11.5.4. Brazil
11.5.4.1. Market Revenue and Volume Forecast, by Product (2020-2032)
11.5.4.2. Market Revenue and Volume Forecast, by Needle Length (2020-2032)
11.5.4.3. Market Revenue and Volume Forecast, by Therapy (2020-2032)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Volume Forecast, by Product (2020-2032)
11.5.5.2. Market Revenue and Volume Forecast, by Needle Length (2020-2032)
11.5.5.3. Market Revenue and Volume Forecast, by Therapy (2020-2032)
Chapter 12. Company Profiles
12.1. Becton, Dickinson and Company
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. Novo Nordisk A/S
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Ypsomed AG
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Owen Mumford Ltd.
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. HTL-STREFA S.A.
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Terumo Corporation
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Allison Medical, Inc.
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Artsana S.p.A.
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Trividia Health, Inc.
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Perrigo Company plc
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
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