The global pen needles market was valued at $1.7 billion in 2022 and reached $4.5 billion by 2032, registering a CAGR of 10.3% from 2023 to 2032. A pen needle is a small disposable medical device used to administer medication for the treatment of different diseases. These pen needles are attached to an injector pen and are made up of different needle lengths and have varying dimensions (gauge size). The outer body of the needle is made of plastic or a plastic-coated metal to make it easier to handle and use, whereas the needle itself is made of stainless steel, which is a strong, durable needle length that can pierce the skin with minimal discomfort.
The tip of the needle is often slanted, or angled, to make it easier to penetrate the skin. It is further coated with a lubricating needle length, such as silicone, to further reduce pain during the injection. After use, the pen needles are disposed of in a sharps container to prevent accidental injury or transmission of disease.
Pen needles are used to administer medication for various types of diseases, Including diabetes, growth hormone deficiency, and infertility. Pen needles are an important tool in the management of many chronic conditions and can help improve the quality of life for patients who require regular injections of medication, which is boosting their demand. In addition, factors such as the Increase in prevalence of chronic conditions such as diabetes acts as a key driving factor of the market. For instance, the International Diabetes Federation (IDF) stated that the total number of people living with diabetes is projected to rise to 643 million by 2030 and 783 million by 2045.
As diabetes is a chronic condition that often requires regular insulin injections, pen needles are commonly used for administering insulin. Thus, with the rise in prevalence of diabetes worldwide, the demand for diabetes management products such as pen needles is expected to Increase simultaneously.
In addition, rise in awareness about diabetes management, technological advancements in pen needle design, and surge in adoption of injectable drugs for various medical conditions contribute toward the growth of the pen needles market. Injector pens are designed to be used with specific types of pen needles, and as more people become aware of the benefits of using injector pens, the demand for compatible pen needles is anticipated to Increase concurrently, thereby driving the growth of the market.
Furthermore, pen needles exhibit ultra-thin wall construction, which allows for a larger inner diameter while maintaining the same outer diameter. This can improve the flow rate and reduce the injection time. Moreover, some pen needles have safety features, such as a protective shield or cap, to prevent accidental injury after use. The availability of pen needles in different sizes, lengths, and gauges makes it possible to customize the injection to the individual's needs, which can help to improve medication absorption and reduce discomfort during the injection.
Furthermore, injector pens are used for administering a variety of medications, Including growth hormone, fertility drugs, and other biologic drugs. As more people become aware of the benefits of using injector pens for these medical treatments, the demand for compatible pen needles is expected to Increase, which contributes to the market growth. However, safety concerns related to needlestick injuries and contamination can be a significant restraint of the pen needle market.
Needlestick injuries can occur when healthcare workers or patients accidentally prick themselves with a needle, which can lead to the transmission of blood-borne infections. This is a significant safety concern for healthcare workers who are routinely exposed to needles and other sharp instruments.
On the contrary, to address the safety concerns related to needlestick injuries and contamination, several key players in the pen needle market have developed safety pen needles that offer advantages over standard needles. Some safety pen needles are designed with a needle shielding feature that covers the needle after use, which can further reduce the risk of accidental needlestick injuries. As people are becoming aware about safety needles, the demand for safety needles is anticipated to rise in the coming years, which will augment the market growth.
In addition, emerging countries in Asia-Pacific and LAMEA present lucrative opportunities for key players looking to invest in the pen needles market. This is attributed to the fact that these regions are characterized by the presence of a large population base with strong economic growth and Increase in healthcare expenditure. In addition, an alarming rise in prevalence of diabetes in these regions along with an Increase in awareness regarding injector pens is anticipated to drive the market growth.
The global pen needles market is segmented into type, needle length, distribution channel, and region. By type, the market is categorized into standard pen needles and safety pen needles. Based on needle length, it is segregated into short length pen needles, medium length pen needles, and long length pen needles. Based on distribution channel, it is divided into hospital pharmacies, drug stores & retail pharmacies, and online providers.
Region wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA). Major players that operate in the market Include Allison Medical, B.Braun SE, Embecta Corp., MTD Medical Technology and Devices S.p.A, Novo Nordisk A/S, Owen Mumford Ltd, Terumo Corporation, Trividia Health, Inc., UltiMed, Inc., and Ypsomed AG.
The tip of the needle is often slanted, or angled, to make it easier to penetrate the skin. It is further coated with a lubricating needle length, such as silicone, to further reduce pain during the injection. After use, the pen needles are disposed of in a sharps container to prevent accidental injury or transmission of disease.
Pen needles are used to administer medication for various types of diseases, Including diabetes, growth hormone deficiency, and infertility. Pen needles are an important tool in the management of many chronic conditions and can help improve the quality of life for patients who require regular injections of medication, which is boosting their demand. In addition, factors such as the Increase in prevalence of chronic conditions such as diabetes acts as a key driving factor of the market. For instance, the International Diabetes Federation (IDF) stated that the total number of people living with diabetes is projected to rise to 643 million by 2030 and 783 million by 2045.
As diabetes is a chronic condition that often requires regular insulin injections, pen needles are commonly used for administering insulin. Thus, with the rise in prevalence of diabetes worldwide, the demand for diabetes management products such as pen needles is expected to Increase simultaneously.
In addition, rise in awareness about diabetes management, technological advancements in pen needle design, and surge in adoption of injectable drugs for various medical conditions contribute toward the growth of the pen needles market. Injector pens are designed to be used with specific types of pen needles, and as more people become aware of the benefits of using injector pens, the demand for compatible pen needles is anticipated to Increase concurrently, thereby driving the growth of the market.
Furthermore, pen needles exhibit ultra-thin wall construction, which allows for a larger inner diameter while maintaining the same outer diameter. This can improve the flow rate and reduce the injection time. Moreover, some pen needles have safety features, such as a protective shield or cap, to prevent accidental injury after use. The availability of pen needles in different sizes, lengths, and gauges makes it possible to customize the injection to the individual's needs, which can help to improve medication absorption and reduce discomfort during the injection.
Furthermore, injector pens are used for administering a variety of medications, Including growth hormone, fertility drugs, and other biologic drugs. As more people become aware of the benefits of using injector pens for these medical treatments, the demand for compatible pen needles is expected to Increase, which contributes to the market growth. However, safety concerns related to needlestick injuries and contamination can be a significant restraint of the pen needle market.
Needlestick injuries can occur when healthcare workers or patients accidentally prick themselves with a needle, which can lead to the transmission of blood-borne infections. This is a significant safety concern for healthcare workers who are routinely exposed to needles and other sharp instruments.
On the contrary, to address the safety concerns related to needlestick injuries and contamination, several key players in the pen needle market have developed safety pen needles that offer advantages over standard needles. Some safety pen needles are designed with a needle shielding feature that covers the needle after use, which can further reduce the risk of accidental needlestick injuries. As people are becoming aware about safety needles, the demand for safety needles is anticipated to rise in the coming years, which will augment the market growth.
In addition, emerging countries in Asia-Pacific and LAMEA present lucrative opportunities for key players looking to invest in the pen needles market. This is attributed to the fact that these regions are characterized by the presence of a large population base with strong economic growth and Increase in healthcare expenditure. In addition, an alarming rise in prevalence of diabetes in these regions along with an Increase in awareness regarding injector pens is anticipated to drive the market growth.
The global pen needles market is segmented into type, needle length, distribution channel, and region. By type, the market is categorized into standard pen needles and safety pen needles. Based on needle length, it is segregated into short length pen needles, medium length pen needles, and long length pen needles. Based on distribution channel, it is divided into hospital pharmacies, drug stores & retail pharmacies, and online providers.
Region wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA). Major players that operate in the market Include Allison Medical, B.Braun SE, Embecta Corp., MTD Medical Technology and Devices S.p.A, Novo Nordisk A/S, Owen Mumford Ltd, Terumo Corporation, Trividia Health, Inc., UltiMed, Inc., and Ypsomed AG.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the pen needles market analysis from 2022 to 2032 to identify the prevailing pen needles market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the pen needles market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report Includes the analysis of the regional as well as global pen needles market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Standard Pen Needles
- Safety Pen Needles
By Needle Length
- Short Length Pen Needles
- Medium Length Pen Needles
- Long Length Pen Needles
By Distribution Channel
- Hospital Pharmacies
- Drug Stores and Retail Pharmacies
- Online Providers
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Allison Medical Inc.
- B.Braun SE
- Embecta Corp.
- MTD Medical Technology and Devices S.p.A
- Novo Nordisk A/S
- Owen Mumford Ltd.
- Terumo Corporation
- Trividia Health, Inc.
- UltiMed, Inc
- Ypsomed AG
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: PEN NEEDLES MARKET, BY TYPE
CHAPTER 5: PEN NEEDLES MARKET, BY NEEDLE LENGTH
CHAPTER 6: PEN NEEDLES MARKET, BY DISTRIBUTION CHANNEL
CHAPTER 7: PEN NEEDLES MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
The pen needles market is likely to experience a significant growth rate of 10.3% from 2023-2032 owing to increasing market demand from medical devices and supplies sector.A pen needle is a small, disposable medical device that is used to deliver medication via injection. It is used with insulin pen, which is a device that allows patients to self-administer insulin. It can be used by patients in a variety of settings, including at home, at work, and while traveling for self-medication. The use of pen needles can reduce the risk of medication errors and are designed to be used with a specific type of pen or for universal use.
Key factors driving the growth of the pen needles market include an increase in prevalence of chronic conditions, surge in awareness and adoption of injector pens and advantages offered by pen needles over traditional syringes. One of the major drivers for the growth of the pen needles market is the increasing prevalence of diabetes worldwide. Diabetes is a chronic disease that affects millions of people globally, and its prevalence has been steadily rising in recent years. Also, pen needles are a crucial component of insulin delivery systems, which are commonly used by individuals with diabetes who require insulin injections. As the number of people diagnosed with diabetes continues to grow, the demand for insulin and related devices, such as pen needles, also increases. This fosters the growth of the market.
In addition, pen needles offer several advantages over traditional syringes, including convenience, ease of use, and reduced pain during injection. These factors have contributed to their widespread adoption and preference among patients and healthcare professionals. Moreover, increased awareness and education about diabetes management, along with better access to healthcare services, have led to earlier diagnosis and improved treatment options. This has resulted in more individuals with diabetes being prescribed insulin therapy, consequently driving the demand for pen needles.
The market also offers several growth opportunities to the key players in the pen needles market. The key players are focusing on the development of pen needles which are highly efficient and safe to use. They are also focusing on improving needlestick injury prevention and reducing the risk of infection transmission through development of advanced safety needles. For instance, development of retractable safety needles having a mechanism that allows the needle to retract into the syringe or device after use. This feature prevents accidental needlestick injuries and reduces the risk of needle reuse. Such advances in the pen needles are anticipated to boost its demand in the near future.
The global pen needles market is segmented into type, needle length, distribution channel, and region. By type, the market is categorized into standard pen needles and safety pen needles. Depending on needle length, it is segregated into short length pen needles, medium length pen needles, and long length pen needles. Based on distribution channel, it is divided into hospital pharmacies, drug stores & retail pharmacies, and online providers. Region wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
The key players profiled in the study include Allison Medical, B. Braun SE, Embecta Corp., MTD Medical Technology and Devices S.p.A, Novo Nordisk A/S, Owen Mumford Ltd, Terumo Corporation, Trividia Health, Inc., UltiMed, Inc., and Ypsomed AG. Other players in the market include Simple Diagnostics, AdvaCare Pharma, ARKRAY, Inc., GlucoRx, Hindustan Syringes & Medical Devices, Van Heek Medical and others.
The players in the market have been actively engaged in the adoption of various strategies such as geographical expansion, product launch, spin off and expansion to remain competitive and gain an advantage over the competitors in the market. For instance, in February 2021, UltiMed, Inc. launched a new UltiCare safety pen needle, the technology that hides the needle before and after use, helping to provide protection from accidental needle stick injuries.
Key Market Insights
- By type, the standard pen needles segment was the highest revenue contributor to the market and is estimated to reach $2.6 billion by 2032, with a CAGR of 9.5%. However, the safety pen needles segment is estimated to be the fastest-growing segment with the highest CAGR during the forecast period.
- By needle length, the medium length pen needles segment dominated the global market. However, the short length pen needles segment is expected to be the fastest-growing segment with the highest CAGR during the forecast period.
- By distribution channel, the drug stores & retail pharmacies segment was the highest revenue contributor to the market in 2022 and the online providers segment is anticipated to grow with a highest CAGR during the forecast period.
- Based on region, North America garnered the largest revenue share in 2022, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
Companies Mentioned
- Allison Medical Inc.
- B.Braun SE
- Embecta Corp.
- MTD Medical Technology and Devices S.p.A
- Novo Nordisk A/S
- Owen Mumford Ltd.
- Terumo Corporation
- Trividia Health, Inc.
- UltiMed, Inc
- Ypsomed AG
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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