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Global Pen Needles Market Share, Growth, Report: By Product Type: Standard Pen Needles, Safety Pen Needles; By Needles Length: 4mm, 5mm, 6mm, 8mm, 10mm, 12mm; By Usability: Reusable Pen Needles, Disposable Pen Needles; By Therapy: Insulin, Others; By Application; By End User; Regional Analysis; Supplier Landscape; 2024-2032
Global Pen Needles Market Outlook
The global pen needles market size attained a value of USD 3.51 billion in 2023. The market is likely to grow further at a CAGR of 19.5% during the forecast period of 2024-2032 to attain a value of USD 16.53 billion by 2032.
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Increasing Demand for Insulin Pens to Augment the Pen Needles Industry Growth
The global pen needles industry is driven by the increase in the preference for insulin pens over syringes and vials on account of their user-friendly and less intrusive mechanism. The diabetic patients are the most common users of insulin pens because of the requirement of multiple daily insulin injections and with the rising prevalence of diabetes due to poor lifestyle choices, there has been a surge in demand for insulin pens. Furthermore, the adoption of insulin pens has increased as a result of technological advancements and expansion of the healthcare industry due to COVID-19. Meanwhile, insulin pens with colour codes have greatly reduced patient pen section errors, thus, significantly contributing to the growth of the pen needles industry.
North America to Provide Significant Growth Opportunities to the Pen Needles Industry
The rising incidences of autoimmune disorders, hormonal disorders, and a variety of other diseases are driving the market expansion in North America. Changes in eating habits, obesity issues, and sedentary lifestyles are some of the major causes contributing to the spread of these diseases among the population in the region. According to the World Fact Book, the United States alone has a 36.2% rate of obesity, making it one of the largest consumers of pen needles. Meanwhile, the increase in research and development activities and the rapid technological advancements in North America are projected to further propel the industry growth during the forecast period.
Pen Needles: Market Segmentation
A pen needle is a device used to inject medication beneath the skin. They are usually used for medications that need to be repeatedly injected over a short period of time. It increases patient's adherence by making the process of drug administration easier and convenient. Pen needles serve as an efficient alternative to the traditional syringe and vials, as they can help people with limited dexterity, poor vision, or portability requirements to easily administer medication on time.
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By product type, the market is divided into:
- Standard Pen Needles
- Safety Pen Needles
Based on needle length, the industry can be segmented into:
- 4 mm
- 5 mm
- 6 mm
- 8 mm
- 10 mm
- 12 mm
On the basis of therapy, the industry can be categorised into:
- Insulin
- Glucagon-like-Peptide-1 (GLP-1)
- Growth Hormone
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Growing Prevalence of Diabetes to Bolster the Growth of the Pen Needles Industry
The global pen needles industry is being driven by the growing incidences of diabetes, as a diabetic patient requires multiple daily insulin injections. It is a severe public health issue that has reached epidemic proportions around the world. Every year around 18 million individuals die because of cardiovascular disease, for which diabetes and hypertension are key risk factors. To counter this, various private corporations and governments have started investing heavily to promote the use of insulin pens, further boosting the growth of the pen needles industry. Over the forecast period, the growing adoption of pen needles in emerging countries such as China, India, and Brazil to fight diabetes is projected to significantly contribute to the industry growth.
Key Industry Players in the Global Pen Needles Market
The report gives a detailed analysis of the following key players in the global pen needles market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Becton, Dickinson and Company
- Novo Nordisk A/S
- Ypsomed Holding AG
- Owen Mumford, Ltd.
- Htl-Strefa S.A
- B. Braun Melsungen AG
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product Type |
|
| Breakup by Needles Length |
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| Breakup by Usability |
|
| Breakup by Therapy |
|
| Breakup by Application |
|
| Breakup by End User |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Supplier Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage – Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Global Pen Needles Market Overview
3.1 Global Pen Needles Market Historical Value (2017-2023)
3.2 Global Pen Needles Market Forecast Value (2024-2032)
4 Global Pen Needles Market Landscape
4.1 Global Pen Needles Developers Landscape
4.1.1 Analysis by Year of Establishment
4.1.2 Analysis by Company Size
4.1.3 Analysis by Region
4.2 Global Pen Needles Product Landscape
4.2.1 Analysis by Product Type
4.2.2 Analysis by Applications
4.2.3 Analysis by End User
5 Global Pen Needles Market Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.3 Porter’s Five Forces Model
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 Global Pen Needles Market Segmentation
6.1 Global Pen Needles Market by Product Type
6.1.1 Market Overview
6.1.2 Standard Pen Needles
6.1.3 Safety Pen Needles
6.2 Global Pen Needles Market by Needles Length
6.2.1 Market Overview
6.2.2 4mm
6.2.3 5mm
6.2.4 6mm
6.2.5 8mm
6.2.6 10mm
6.2.7 12mm
6.3 Global Pen Needles Market by Usability
6.3.1 Market Overview
6.3.2 Reusable Pen Needles
6.3.3 Disposable Pen Needles
6.4 Global Pen Needles Market by Therapy
6.4.1 Market Overview
6.4.2 Insulin
6.4.3 Glucagon-like-Peptide-1 (GLP-1)
6.4.4 Growth Hormone
6.5 Global Pen Needles Market by Application
6.5.1 Market Overview
6.5.2 Diabetes
6.5.3 Growth Hormone Deficiency
6.5.4 Others
6.6 Global Pen Needles Market by End User
6.6.1 Market Overview
6.6.2 Hospitals
6.6.3 Clinics
6.6.4 Over The Counter
6.6.5 Home Healthcare
6.6.6 Others
6.7 Global Pen Needles Market by Region
6.7.1 Market Overview
6.7.2 North America
6.7.3 Europe
6.7.4 Asia Pacific
6.7.5 Latin America
6.7.6 Middle East and Africa
7 North America Pen Needles Market
7.1 Market Share by Country
7.2 United States of America
7.3 Canada
8 Europe Pen Needles Market
8.1 Market Share by Country
8.2 United Kingdom
8.3 Germany
8.4 France
8.5 Italy
8.6 Others
9 Asia Pacific Pen Needles Market
9.1 Market Share by Country
9.2 China
9.3 Japan
9.4 India
9.5 ASEAN
9.6 Australia
9.7 Others
10 Latin America Pen Needles Market
10.1 Market Share by Country
10.2 Brazil
10.3 Argentina
10.4 Mexico
10.5 Others
11 Middle East and Africa Pen Needles Market
11.1 Market Share by Country
11.2 Saudi Arabia
11.3 United Arab Emirates
11.4 Nigeria
11.5 South Africa
11.6 Others
12 Patent Analysis
12.1 Analysis by Type of Patent
12.2 Analysis by Publication year
12.3 Analysis by Issuing Authority
12.4 Analysis by Patent Age
12.5 Analysis by CPC Analysis
12.6 Analysis by Patent Valuation
12.7 Analysis by Key Players
13 Grants Analysis
13.1 Analysis by year
13.2 Analysis by Amount Awarded
13.3 Analysis by Issuing Authority
13.4 Analysis by Grant Application
13.5 Analysis by Funding Institute
13.6 Analysis by NIH Departments
13.7 Analysis by Recipient Organization
14 Funding Analysis
14.1 Analysis by Funding Instances
14.2 Analysis by Type of Funding
14.3 Analysis by Funding Amount
14.4 Analysis by Leading Players
14.5 Analysis by Leading Investors
14.6 Analysis by Geography
15 Partnership and Collaborations Analysis
15.1 Analysis by Partnership Instances
15.2 Analysis by Type of Partnership
15.3 Analysis by Leading Players
15.4 Analysis by Geography
16 Regulatory Framework
16.1 Regulatory Overview
16.1.1 US FDA
16.1.2 EU EMA
16.1.3 INDIA CDSCO
16.1.4 JAPAN PMDA
16.1.5 Others
17 Supplier Landscape
17.1 Novo Nordisk A/S
17.1.1 Financial Analysis
17.1.2 Product Portfolio
17.1.3 Demographic Reach and Achievements
17.1.4 Mergers and Acquisitions
17.1.5 Certifications
17.2 YPSOMED
17.2.1 Financial Analysis
17.2.2 Product Portfolio
17.2.3 Demographic Reach and Achievements
17.2.4 Mergers and Acquisitions
17.2.5 Certifications
17.3 B. Braun Melsungen AG
17.3.1 Financial Analysis
17.3.2 Product Portfolio
17.3.3 Demographic Reach and Achievements
17.3.4 Mergers and Acquisitions
17.3.5 Certifications
17.4 HTL-STREFA S.A.
17.4.1 Financial Analysis
17.4.2 Product Portfolio
17.4.3 Demographic Reach and Achievements
17.4.4 Mergers and Acquisitions
17.4.5 Certifications
17.5 Terumo Corporation
17.5.1 Financial Analysis
17.5.2 Product Portfolio
17.5.3 Demographic Reach and Achievements
17.5.4 Mergers and Acquisitions
17.5.5 Certifications
17.6 BD
17.6.1 Financial Analysis
17.6.2 Product Portfolio
17.6.3 Demographic Reach and Achievements
17.6.4 Mergers and Acquisitions
17.6.5 Certifications
17.7 Owen Mumford Inc.
17.7.1 Financial Analysis
17.7.2 Product Portfolio
17.7.3 Demographic Reach and Achievements
17.7.4 Mergers and Acquisitions
17.7.5 Certifications
17.8 UltiMed, Inc.
17.8.1 Financial Analysis
17.8.2 Product Portfolio
17.8.3 Demographic Reach and Achievements
17.8.4 Mergers and Acquisitions
17.8.5 Certifications
17.9 Artsana S.p.A.
17.9.1 Financial Analysis
17.9.2 Product Portfolio
17.9.3 Demographic Reach and Achievements
17.9.4 Mergers and Acquisitions
17.9.5 Certifications
17.10 Trividia Health, Inc
17.10.1 Financial Analysis
17.10.2 Product Portfolio
17.10.3 Demographic Reach and Achievements
17.10.4 Mergers and Acquisitions
17.10.5 Certifications
17.11 STAT Medical Devices
17.11.1 Financial Analysis
17.11.2 Product Portfolio
17.11.3 Demographic Reach and Achievements
17.11.4 Mergers and Acquisitions
17.11.5 Certifications
17.12 Simple Diagnostics
17.12.1 Financial Analysis
17.12.2 Product Portfolio
17.12.3 Demographic Reach and Achievements
17.12.4 Mergers and Acquisitions
17.12.5 Certifications
17.13 Pietrasanta Pharma SpA
17.13.1 Financial Analysis
17.13.2 Product Portfolio
17.13.3 Demographic Reach and Achievements
17.13.4 Mergers and Acquisitions
17.13.5 Certifications
17.14 Henso Medical (Hangzhou) Co., Ltd.
17.14.1 Financial Analysis
17.14.2 Product Portfolio
17.14.3 Demographic Reach and Achievements
17.14.4 Mergers and Acquisitions
17.14.5 Certifications
17.15 Shanghai Beipu Medical Co., Ltd
17.15.1 Financial Analysis
17.15.2 Product Portfolio
17.15.3 Demographic Reach and Achievements
17.15.4 Mergers and Acquisitions
17.15.5 Certifications
17.16 Zhejiang Kindly Medical Devices Co., Ltd.
17.16.1 Financial Analysis
17.16.2 Product Portfolio
17.16.3 Demographic Reach and Achievements
17.16.4 Mergers and Acquisitions
17.16.5 Certifications
17.17 ARKRAY, Inc.
17.17.1 Financial Analysis
17.17.2 Product Portfolio
17.17.3 Demographic Reach and Achievements
17.17.4 Mergers and Acquisitions
17.17.5 Certifications
17.18 AstraZeneca
17.18.1 Financial Analysis
17.18.2 Product Portfolio
17.18.3 Demographic Reach and Achievements
17.18.4 Mergers and Acquisitions
17.18.5 Certifications
17.19 GlaxoSmithKline plc
17.19.1 Financial Analysis
17.19.2 Product Portfolio
17.19.3 Demographic Reach and Achievements
17.19.4 Mergers and Acquisitions
17.19.5 Certifications
18 Global Pen Needles Market - Distribution Model (Additional Insight)
18.1 Overview
18.2 Potential Distributors
18.3 Key Parameters for Distribution Partner Assessment
19 Key Opinion Leaders (KOL) Insights (Additional Insight)
20 Company Competitiveness Analysis (Additional Insight)
20.1 Very Small Companies
20.2 Small Companies
20.3 Mid-Sized Companies
20.4 Large Companies
20.5 Very Large Companies
21 Payment Methods (Additional Insight)
21.1 Government Funded
21.2 Private Insurance
21.3 Out-of-Pocket
*Additional insights provided are customisable as per client requirements.
Key Questions Answered in the Report
In 2023, the market attained a value of approximately USD 3.51 billion.
The market is expected to grow at a CAGR of 13.1% from 2024 to 2032 to reach a value of USD 10.1 billion by 2032.
The major drivers of the industry, such as technological advancements, the expansion of medical industry, the reducing patient pen section error, the increasing research and development (R&D) activities, and the convenience and portability of pen needles over syringe and vials are expected to aid the market growth.
The key market trends guiding the growth of the industry include the increase in diabetes incidences, along with other autoimmune or hormonal diseases, obesity and sedentary lifestyle.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major product types of pen needles are standard pen needles and safety pen needles.
The various needle lengths of pen needles are 4 mm, 5 mm, 6 mm, 8 mm, 10 mm, and 12 mm.
The different therapies of pen needles in the market are insulin, glucagon-like-peptide-1(GLP-1) and growth hormone.
The major players in the industry are Becton, Dickinson and Company, NoVo Nordisk A/S, Ypsomed Holding AG, Owen Mumford, Ltd., Htl-Strefa S.A, and B. Braun Melsungen AG, among others.
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