by The global pen needles market size is projected to touch around USD 9.48 billion by 2032 and growing at a CAGR of 11.70% over the forecast period 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 witnessing substantial growth due to the increasing prevalence of diabetes globally. As a crucial component of insulin delivery systems, pen needles play a pivotal role in the management of diabetes. The market encompasses a range of pen needle types, catering to diverse patient needs, including those related to needle length and gauge.
Growth Factors:
Several factors contribute to the robust growth of the Pen Needles Market. The rising diabetic population, coupled with a growing awareness of the benefits of insulin pens over traditional vials and syringes, has been a significant driver. Technological advancements leading to the development of innovative, user-friendly pen needles also contribute to market expansion.
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Dominated Region:
North America currently dominates the Pen Needles Market. The region’s strong healthcare infrastructure, high prevalence of diabetes, and early adoption of advanced medical technologies contribute to its leadership. Europe closely follows, driven by a similar set of factors and a proactive approach to diabetes management.
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 |
Driver:
The primary driver of the Pen Needles Market is the increasing incidence of diabetes globally. The need for convenient and efficient insulin delivery methods has fueled the adoption of pen needles. Patient preference for less invasive and more comfortable injection experiences further propels market growth.
Challenges:
Despite the market’s growth, challenges persist. One significant hurdle is the cost associated with insulin pens and pen needles. Affordability remains a concern, particularly in developing regions where access to advanced healthcare solutions is limited. Additionally, regulatory barriers and reimbursement issues can impede market expansion.
Opportunities:
Opportunities in the Pen Needles Market lie in the continuous innovation of needle technologies and materials. Manufacturers exploring cost-effective production methods and strategic collaborations to address affordability issues stand to gain. Expanding market reach in untapped regions also presents a promising avenue for growth.
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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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