Pen Needles Market Size, Share, Analysis, Trends, Growth, Forecast, 2032

Pen Needles Industry Perspective:

The global pen needles market size accrued earnings worth approximately USD 1.86 Billion in 2023 and is predicted to gain revenue of about USD 4.14 Billion by 2032, is set to record a CAGR of nearly 9.28% over the period from 2024 to 2032. 

The report covers forecast and analysis for the global pen needles market. The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD Million). In-depth secondary research is used to ascertain overall market size, top industry players, top product, industry associations, etc. Macro-economic indicators such as healthcare industry outlook, healthcare spending, research funding, GDP along with company websites, company annual reports, white papers, financial reports and other sources have also been considered to arrive at the indicated market numbers.

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Pen Needles Market: Overview

Pen needles are attached to injection pens by means of plastic hub and have the essential amount of medication in it. They are majorly used by diabetic patients in order to inject insulin. Pen needles propose numerous benefits over the syringe device and conventional needle such as they do not require expertise and help in self-administration of the drugs and medication. Insulin pens are known as the fastest mode of drug delivery and considered to be the most suitable, convenient to use. Pen needles are highly required in combination with rising need for insulin pens for individuals suffering from diabetes. Increasing prevalence of diabetes is one of the significant factors contributing for the growth of pen needles market.

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Pen Needles Market: Growth Factors

The study also includes drivers and restraints for the pen needles along with the impact they have on the demand over the forecast period. Besides, the report includes the study of opportunities and trends available in the pen needles market on global level. As According to WHO, the number of patients suffering from diabetes has augmented from 108 Mn in 1980 to 422 Mn in 2014. Nearly 415 million people globally have diabetes, with 75% living in low and middle income countries. Among the consequences of DM are the increased incidences of amputation of the lower limbs and mortality. Increasing severity of diabetes and lack of awareness among the population will significantly propel the market growth over the forecast period.

The pen needles market is experiencing significant growth due to several key factors:

• Rising Prevalence of Diabetes: The increasing global incidence of diabetes, particularly type 1 and insulin-dependent type 2 diabetes, is a major growth driver for the pen needles market. As more patients require insulin injections, the demand for convenient, easy-to-use pen needles continues to rise.

• Technological Advancements: Innovations in pen needle technology, such as ultra-thin and shorter needles, are enhancing patient comfort and reducing the pain associated with injections. These advancements are improving patient compliance, especially among those requiring long-term insulin therapy.

• Increasing Adoption of Insulin Pens: The growing preference for insulin pens over traditional syringes, due to their convenience, portability, and ease of use, is boosting the demand for pen needles. Insulin pens are becoming more popular among both healthcare providers and patients, particularly in developed markets.

• Rising Geriatric Population: The aging global population is contributing to the growth of the pen needles market, as older adults are more prone to chronic conditions like diabetes. The elderly often prefer pen needles for their ease of handling and reduced discomfort during injections.

• Growth in Home Healthcare: The trend toward self-administration of injectable medications, particularly in home healthcare settings, is increasing the demand for pen needles. This shift is driven by the desire for more patient independence and the convenience of home-based care.

• Expansion in Emerging Markets: Growing healthcare infrastructure and increasing awareness of diabetes management in developing countries, particularly in Asia-Pacific and Latin America, are opening new opportunities for pen needle manufacturers. The rising prevalence of diabetes in these regions further supports market expansion.

• Government Initiatives and Awareness Campaigns: Government-led initiatives aimed at improving diabetes care and increasing awareness about diabetes management contribute to the adoption of pen needles. Educational programs and campaigns encouraging regular monitoring and insulin therapy are driving market growth.

These growth factors, combined with the increasing need for insulin delivery systems and improvements in healthcare access, are propelling the global pen needles market forward.

Pen Needles Market Size: Segmentation

The study provides a decisive view on the pen needles market by segmenting the market based on type, length, therapy, mode of purchase, and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.

The market for pen needles is bifurcated on the basis of type into safety pen needles, and standard pen needles. The standard pen needles segment is gaining traction in the market due to its everyday use of higher doses by patients suffering from diabetes. Patients suffering from dexterity problems usually use these needles. Though, standard pen needles are not ideal owing to associated risk of causing needlestick harms, which affects the safe applicability of pen needles. Hence, the demand for them is anticipated to reduce in the near future.     

On the basis of length the global market is divided into 5mm, 4mm, 8mm, 6mm, 10mm, and 12mm. The 8mm segment held major share in the global pen needles market in 2023. These kinds of needles are most frequently prescribed to all patients counting the overweight population affected by target disease. Needle length of 4mm is expected to show higher CAGR over the forecast period owing to its small length. Thinnest and shortest needles are progressively being used by patients owing to its better comfort level as compared to injections. Additionally, their short layer assists to reach at the subcutaneous tissue easily will raise the demand for the 4mm needles in near future.

Based on therapy the market is divided into insulin therapy, glucagon-like peptide-1 (GLP-1) therapy, growth hormone therapy and other therapies. The insulin therapy segment held major share of the market in 2018. This is due to the aggregated awareness regarding self-administration of insulin therapy among the patients suffering from type 1 and type 2diabetes.

Based on mode of purchase the global pen needles market is classified into retail and non-retail segment. The retail segment is anticipated to account for the largest market share during the forecast period.

The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa with its further bifurcation into major countries.

Pen Needles Market: Report Scope

Pen Needles Market: Competitive Space

The report also provides company market share analysis in order to give a broader view of the key players in the market. Industry insights and information is delivered in the required format. ZMR develops a list of industry players (manufacturers), distributors, retailers and industry experts. Some of the players within global pen needles market include:

• Becton
• Dickinson and Company
• B. Braun Melsungen AG
• HTL-STREFA S.A.
• Novo Nordisk A/S
• Ypsomed Holding AG
• Allison Medical
• Terumo Corporation
• Owen Mumford
• Artsana S.P.A.

This report segments the global pen needles market as follows:

Global Pen Needles Market: Type Segment Analysis

• Standard Pen Needles
• Safety Pen Needles

Global Pen Needles Market: Length Segment Analysis

• 4mm
• 5mm
• 6mm
• 8mm
• 10mm
• 12mm

Global Pen Needles Market: Therapy Segment Analysis

• Insulin Therapy
• Glucagon-Like Peptide-1 (GLP-1) Therapy
• Growth Hormone Therapy
• Other Therapies

Global Pen Needles Market: Mode of Purchase Segment Analysis

• Retail
• Non-Retail

Global Pen Needles Market: Regional Segment Analysis

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa