The global pen needles market size was estimated to be USD 4.38 billion in 2023 and is expected to reach at USD 15.16 billion by 2034 with a CAGR of 11.95% during the forecast period 2024-2034. Increasing prevalence of diabetes, rising need for insulin pens for people suffering from diabetes, growing technological advancements, surge in preference for insulin pens over syringes and vials, increasing focus on new product development, rising introduction of advanced pen needle, growing demand for disposable needles, and surge in approval of advanced products by regulatory authorities are some of the key factors boosting the market growth.
Surge in approval of advanced products by regulatory authorities is predicted to boost the market growth during the forecast period. Advancements in syringe and pen needle technology have led to significant progress in drug delivery for a variety of diseases. For instance, in May 2023, The FDA has granted approval to Boehringer Ingelheim for the Cyltezo Pen, an autoinjector option for Cyltezo (adalimumab-adbm), an FDA-approved biosimilar to Humira (adalimumab). Initially, Cyltezo was approved as a pre-filled syringe and is employed in the treatment of multiple chronic inflammatory disorders.
By product, standard pen needles was the highest revenue-grossing segment in the global pen needles market in 2023 owing to rising usage of larger dosage by diabetic patients, surge in number of diabetic populations, growing awareness regarding the usage of insulin pens, increasing individuals with dexterity issues frequently rely on these needles. Additionally, safety pen needles is predicted to grow at fastest CAGR during the forecast period owing to the increasing technological advancements, growing demand for advanced needles for the minimization of needlestick injuries amongst patients, surge in launch of new products, and rising approvals by regulatory bodies. For instance, in February 2023, In the United States, AstraZeneca and Amgen have received approval for Tezspire (tezepelumab) to be self-administered using a pre-filled, single-use pen by patients aged 12 years and older who have severe asthma. Tezspire is unique in that it is the only biologic approved for severe asthma without any restrictions related to specific asthma subtypes (such as eosinophilic or allergic) or biomarkers within its approved label.
By needle length, 8mm was the highest revenue-grossing segment in the global pen needles market in 2023 owing to its advantages such as safety, user-friendliness, & easy disposal and surge in prescription of these needles to people suffering from the target disease. Additionally, 4mm is predicted to grow at fastest CAGR during the forecast period owing to its short length, rising demand by patients for shorter & thinner needles due to their comfort compared to regular injections, and increasing launch of new products. For instance, in May 2022, Roche Diabetes Care India has introduced ACCU-FINE, a line of high-quality pen needles designed to improve the insulin delivery experience for diabetics, making it less painful and more convenient. This new offering by Roche Diabetes Care, known for ACCU-CHEK, is aimed at streamlining insulin delivery to enhance diabetes management for individuals with diabetes.
By therapy, insulin therapy was the highest revenue-grossing segment in the global pen needles market in 2023 owing to the surge in awareness regarding the self-administration of insulin therapy amongst type 1 and type 2 diabetes patients, rising administration of insulin for diabetic patients, growing prevalence of diabetes, increasing launch of new pen needles. Additionally, GLP-1 therapy is predicted to grow at fastest CAGR during the forecast period owing to its ability to reduce blood glucose levels in individuals with type 2 diabetes, rising focusing on the development of pen needle with minimum pain, growing number of product launches by key market players. For instance, in May 2022, The U.S. Food and Drug Administration (FDA) has granted approval to Mounjaro (tirzepatide) injection, a new product by Eli Lilly and Company. Mounjaro is a once-weekly medication that combines GIP (glucose-dependent insulinotropic polypeptide) and GLP-1 (glucagon-like peptide-1) receptor agonists. It is intended to be used alongside diet and exercise to enhance glycemic control in adults who have type 2 diabetes.
By distribution channel, drug stores & retail pharmacies was the highest revenue-grossing segment in the global pen needles market in 2023 owing to the benefits provided by drug stores & retail pharmacies in comparison to alternative distribution channels and rising initiatives by market players. Patients can readily buy pen needles without requiring a prescription, simplifying diabetes management. For instance, in April 2023, Ypsomed AG recently conducted a groundbreaking ceremony for a new manufacturing facility located in the Changzhou National Hi-tech District. This new facility is anticipated to boost Ypsomed's production capabilities for its line of medical devices and facilitate increased market presence in the rapidly expanding Chinese market. Additionally, online providers is predicted to grow at fastest CAGR during the forecast period owing to the significant convenience that online providers provide to patients. Online providers have gained popularity by enabling patients to buy pen needles conveniently from their homes or workplaces, eliminating the need for physical visits to retail stores.
North America region is anticipated for the highest revenue share during the forecast period owing to the increasing prevalence of the target disease, rising government initiatives to invest in diabetes care & research to improve treatment techniques for diabetic patients, surge in number of diabetic patients, and growing regulatory approvals. For instance, in February 2023, Montmed Inc. has disclosed the issuance of a second U.S. patent for their Sitesmart Pen Needle. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rising demand for pen needles over syringes and vials, growing geriatric populations, surge in number of diabetic patients, increasing prevalence of diabetes, obesity & other lifestyle disorders, growing awareness regarding the availability of the latest technological devices for diabetes care, and surge in launch of new products. For instance, in September 2022, Terumo India, the Indian division of Terumo Corporation, a renowned global leader in medical technology, has unveiled FineGlide, a sterile pen needle designed for patients who need regular insulin injections or other self-administered medications.
Surge in approval of advanced products by regulatory authorities is predicted to boost the market growth during the forecast period. Advancements in syringe and pen needle technology have led to significant progress in drug delivery for a variety of diseases. For instance, in May 2023, The FDA has granted approval to Boehringer Ingelheim for the Cyltezo Pen, an autoinjector option for Cyltezo (adalimumab-adbm), an FDA-approved biosimilar to Humira (adalimumab). Initially, Cyltezo was approved as a pre-filled syringe and is employed in the treatment of multiple chronic inflammatory disorders.
By product, standard pen needles was the highest revenue-grossing segment in the global pen needles market in 2023 owing to rising usage of larger dosage by diabetic patients, surge in number of diabetic populations, growing awareness regarding the usage of insulin pens, increasing individuals with dexterity issues frequently rely on these needles. Additionally, safety pen needles is predicted to grow at fastest CAGR during the forecast period owing to the increasing technological advancements, growing demand for advanced needles for the minimization of needlestick injuries amongst patients, surge in launch of new products, and rising approvals by regulatory bodies. For instance, in February 2023, In the United States, AstraZeneca and Amgen have received approval for Tezspire (tezepelumab) to be self-administered using a pre-filled, single-use pen by patients aged 12 years and older who have severe asthma. Tezspire is unique in that it is the only biologic approved for severe asthma without any restrictions related to specific asthma subtypes (such as eosinophilic or allergic) or biomarkers within its approved label.
By needle length, 8mm was the highest revenue-grossing segment in the global pen needles market in 2023 owing to its advantages such as safety, user-friendliness, & easy disposal and surge in prescription of these needles to people suffering from the target disease. Additionally, 4mm is predicted to grow at fastest CAGR during the forecast period owing to its short length, rising demand by patients for shorter & thinner needles due to their comfort compared to regular injections, and increasing launch of new products. For instance, in May 2022, Roche Diabetes Care India has introduced ACCU-FINE, a line of high-quality pen needles designed to improve the insulin delivery experience for diabetics, making it less painful and more convenient. This new offering by Roche Diabetes Care, known for ACCU-CHEK, is aimed at streamlining insulin delivery to enhance diabetes management for individuals with diabetes.
By therapy, insulin therapy was the highest revenue-grossing segment in the global pen needles market in 2023 owing to the surge in awareness regarding the self-administration of insulin therapy amongst type 1 and type 2 diabetes patients, rising administration of insulin for diabetic patients, growing prevalence of diabetes, increasing launch of new pen needles. Additionally, GLP-1 therapy is predicted to grow at fastest CAGR during the forecast period owing to its ability to reduce blood glucose levels in individuals with type 2 diabetes, rising focusing on the development of pen needle with minimum pain, growing number of product launches by key market players. For instance, in May 2022, The U.S. Food and Drug Administration (FDA) has granted approval to Mounjaro (tirzepatide) injection, a new product by Eli Lilly and Company. Mounjaro is a once-weekly medication that combines GIP (glucose-dependent insulinotropic polypeptide) and GLP-1 (glucagon-like peptide-1) receptor agonists. It is intended to be used alongside diet and exercise to enhance glycemic control in adults who have type 2 diabetes.
By distribution channel, drug stores & retail pharmacies was the highest revenue-grossing segment in the global pen needles market in 2023 owing to the benefits provided by drug stores & retail pharmacies in comparison to alternative distribution channels and rising initiatives by market players. Patients can readily buy pen needles without requiring a prescription, simplifying diabetes management. For instance, in April 2023, Ypsomed AG recently conducted a groundbreaking ceremony for a new manufacturing facility located in the Changzhou National Hi-tech District. This new facility is anticipated to boost Ypsomed's production capabilities for its line of medical devices and facilitate increased market presence in the rapidly expanding Chinese market. Additionally, online providers is predicted to grow at fastest CAGR during the forecast period owing to the significant convenience that online providers provide to patients. Online providers have gained popularity by enabling patients to buy pen needles conveniently from their homes or workplaces, eliminating the need for physical visits to retail stores.
North America region is anticipated for the highest revenue share during the forecast period owing to the increasing prevalence of the target disease, rising government initiatives to invest in diabetes care & research to improve treatment techniques for diabetic patients, surge in number of diabetic patients, and growing regulatory approvals. For instance, in February 2023, Montmed Inc. has disclosed the issuance of a second U.S. patent for their Sitesmart Pen Needle. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rising demand for pen needles over syringes and vials, growing geriatric populations, surge in number of diabetic patients, increasing prevalence of diabetes, obesity & other lifestyle disorders, growing awareness regarding the availability of the latest technological devices for diabetes care, and surge in launch of new products. For instance, in September 2022, Terumo India, the Indian division of Terumo Corporation, a renowned global leader in medical technology, has unveiled FineGlide, a sterile pen needle designed for patients who need regular insulin injections or other self-administered medications.
Segmentation: Pen Needles Market Report 2023 - 2034
Pen Needles Market Analysis & Forecast by Product 2023 - 2034 (Revenue USD Bn)
- Safety Pen Needles
- Standard Pen Needles
Pen Needles Market Analysis & Forecast by Needle Length 2023 - 2034 (Revenue USD Bn)
- 4 mm
- 5 mm
- 6 mm
- 8 mm
- 10 mm
- 12 mm
Pen Needles Market Analysis & Forecast by Therapy 2023 - 2034 (Revenue USD Bn)
- Glucagon-like-Peptide-1 (GLP-1)
- Growth Hormone
- Insulin
Pen Needles Market Analysis & Forecast by Distribution Channel 2023 - 2034 (Revenue USD Bn)
- Online Providers
- Hospital Pharmacies
- Drug Stores & Retail Pharmacies
Pen Needles Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Pen Needles Market: Product Estimates & Trend Analysis
8. Pen Needles Market: Needle Length Estimates & Trend Analysis
9. Pen Needles Market: Therapy Estimates & Trend Analysis
10. Pen Needles Market: Distribution Channel Estimates & Trend Analysis
11. Regional Market Analysis
12. North America Pen Needles Market
13. Europe Global Pen Needles Market
14. Asia Pacific Global Pen Needles Market
15. Latin America Global Pen Needles Market
16. MEA Global Pen Needles Market
17. Competitor Analysis
18. Company Profiles
Companies Mentioned
- Novo Nordisk A/S
- Terumo Corp.
- Roche Diabetes Care
- Eli Lilly and Company
- Ypsomed
- B. Braun Melsungen AG
- Allison Medical Inc.
- Becton
- Dickinson and Company
- Artsana S.p.A.
- UltiMed Inc.
- Owen Mumford Ltd.
- HTL-STREFA
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | January 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 4.38 Billion |
| Forecasted Market Value ( USD | $ 15.16 Billion |
| Compound Annual Growth Rate | 11.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 13 |
