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Global Pen Needles Market by Product (Safety Pen Needles, Standard Pen Needles), Length (10mm, 12mm, 4mm), Application, Mode of Purchase, Sales Channel, End-Use - Forecast 2023-2030

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  • 185 Pages
  • March 2024
  • Region: Global
  • 360iResearch™
  • ID: 5674453
UP TO OFF until Dec 31st 2024
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The Pen Needles Market size was estimated at USD 1.74 billion in 2022, USD 1.90 billion in 2023, and is expected to grow at a CAGR of 9.49% to reach USD 3.60 billion by 2030.

Pen needles are an essential component in the administration of injectable medications for patients with chronic conditions such as diabetes, growth hormone deficiencies, and other hormonal imbalances. These fine-gauge needles are designed specifically for use with pen-style injection devices, offering a convenient and accurate method of delivering precise doses of medication in a minimally invasive manner. Individuals with diabetes rely on regular insulin injections to maintain healthy blood glucose levels. Using pen needles in combination with insulin pens allows for easy and accurate self-administration, helping to improve overall glycemic control and patient adherence to treatment regimens. One of the primary factors driving the need for the pen needles market is the increasing prevalence of diabetes worldwide. According to the International Diabetes Federation (IDF), 537 million adults (20-79 years) are living with diabetes, and is expected to rise to 643 million by 2030 and 783 million by 2045. Other factors influencing growth include increased awareness about proper diabetes management, government initiatives promoting self-monitoring practices among diabetics, and favorable reimbursement policies for medical devices in developed markets. Innovations such as safety-engineered pen needles and ultra-thin needle designs have made self-administration less painful and more effective for patients. The high cost of advanced pen needle technologies can be prohibitive for some patients, especially in developing countries where access to affordable healthcare is limited. In addition, a lack of awareness about proper disposal methods for used needles presents an environmental challenge, as improper disposal can lead to needle stick injuries and the spread of infections. Companies are focusing on innovation and research that addresses current challenges while catering to evolving consumer needs. Emerging players focus on key areas, including developing cost-effective manufacturing processes, designing ergonomically improved pens with reduced injection pain, and exploring alternative materials and coatings for enhanced comfort to enrich their business globally.

Regional Insights

The Americas region is characterized by a high incidence of diabetes among its populace, where the United States holds a significant share of the pen needles market primarily due to advanced healthcare infrastructure and reimbursement facilities. Moreover, numerous initiatives taken by public health organizations such as the American Diabetes Association (ADA) aim at increasing awareness about diabetes management tools such as insulin pens. In Canada, too, there is an upward trend in demand, which can be attributed partly to technological advancements in manufacturing processes developed by established provincial players. EU countries also play a vital role in the global pen needles market, given their established healthcare systems and well-regulated pharmaceutical industries. Rising awareness about self-management of diabetes and advancements in drug delivery technologies for growth hormone therapy have led to higher adoption of pen needles in countries such as Germany, France, and the United Kingdom. Furthermore, market growth in the Middle East and Africa is primarily driven by an increased prevalence of diabetes and improving healthcare systems. Countries such as Saudi Arabia, South Africa, and the United Arab Emirates are investing in research initiatives focused on enhancing diabetes management solutions. In the Asia-Pacific region, there is significant potential for growth in the pen needles market due to rapidly increasing diabetic populations across countries such as China, India, Japan, South Korea, and Australia. Moreover, improving healthcare infrastructure along with enhanced affordability has led to greater adoption of advanced insulin delivery devices such as insulin pens. Furthermore, increased awareness and government initiatives aimed at reducing the burden of diabetes are also anticipated to spur market growth in this region.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Pen Needles Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Pen Needles Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Pen Needles Market, highlighting leading vendors and their innovative profiles. These include AdvaCare Pharma, Advocate by Pharma Supply, Inc., Allison Medical, Inc., ARKRAY, Inc., Ayset Health Services, B. Braun SE, Becton, Dickinson and Company, Berpu Medical Technology Co., Ltd., Cardinal Health, Inc., F. Hoffmann-La Roche Ltd., Gan & Lee Pharmaceuticals Co., Ltd., GlucoRx Ltd., Hindustan Syringes & Medical Devices Ltd., IME-DC GmbH, Jiangsu Micsafe Medical Technology Co., Ltd., Jinan Babio Biotechnology Co., Ltd., Lepu Medical Technology (Beijing) Co., Ltd., Medexel Co., Ltd., Medical Technology and Devices S.p.A., MEDISEC Healthcare, Montméd Inc., Narang Medical Limited, Neon Diagnostics Ltd., Nipro Corporation, Novo Nordisk A/S, Owen Mumford Limited, Promisemed Medical Devices Inc., Shanghai Berpu Medical Co., Ltd, Shanghai Kindly Enterprise Development Group, Sol-Millennium, Spirit Healthcare Pty Ltd., Terumo Corporation, Trividia Health, Inc., UltiMed, Inc., Van Heek Medical, Vitrex Medical A/S, Vogt Medical Vertrieb GmbH, Ypsomed Holding AG, and Zibo Sunrise Medical Co., Ltd.

Market Segmentation & Coverage

This research report categorizes the Pen Needles Market to forecast the revenues and analyze trends in each of the following sub-markets:

  • Product
    • Safety Pen Needles
    • Standard Pen Needles
  • Length
    • 10mm
    • 12mm
    • 4mm
    • 5mm
    • 6mm
    • 8mm
  • Application
    • GLP-1 Therapy
    • Growth Hormone Therapy
    • Hair Treatment
    • Insulin Therapy
    • Skin Treatment
  • Mode of Purchase
    • OTC
    • Prescription
  • Sales Channel
    • Offline
    • Online
  • End-Use
    • Homecare
    • Hospitals & Clinics
  • Region
    • Americas
      • Argentina
      • Brazil
      • Canada
      • Mexico
      • United States
        • California
        • Florida
        • Illinois
        • New York
        • Ohio
        • Pennsylvania
        • Texas
    • Asia-Pacific
      • Australia
      • China
      • India
      • Indonesia
      • Japan
      • Malaysia
      • Philippines
      • Singapore
      • South Korea
      • Taiwan
      • Thailand
      • Vietnam
    • Europe, Middle East & Africa
      • Denmark
      • Egypt
      • Finland
      • France
      • Germany
      • Israel
      • Italy
      • Netherlands
      • Nigeria
      • Norway
      • Poland
      • Qatar
      • Russia
      • Saudi Arabia
      • South Africa
      • Spain
      • Sweden
      • Switzerland
      • Turkey
      • United Arab Emirates
      • United Kingdom

The report offers valuable insights on the following aspects

  1. Market Penetration: It presents comprehensive information on the market provided by key players.
  2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
  3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
  4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
  5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as

  1. What is the market size and forecast of the Pen Needles Market?
  2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Pen Needles Market?
  3. What are the technology trends and regulatory frameworks in the Pen Needles Market?
  4. What is the market share of the leading vendors in the Pen Needles Market?
  5. Which modes and strategic moves are suitable for entering the Pen Needles Market?

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Table of Contents

1. Preface
1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Limitations
1.7. Assumptions
1.8. Stakeholders
2. Research Methodology
2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Pen Needles Market, by Region
5. Market Insights
5.1. Market Dynamics
5.1.1. Drivers
5.1.1.1. Rising prevalence of diabetes with increasing awareness about diabetes management
5.1.1.2. Growing trend towards self-administration of medication at home
5.1.1.3. Increasing availability of pen needles through online pharmacy
5.1.2. Restraints
5.1.2.1. Product recall impacting brand reputation
5.1.3. Opportunities
5.1.3.1. Continuous innovations in the development of pen needles
5.1.3.2. High potential of pen needles for skin and hair treatment
5.1.4. Challenges
5.1.4.1. Risk of contamination and infection associated with pen needles
5.2. Market Segmentation Analysis
5.2.1. Product: Increasing use of safety pen needles for minimization of needlestick injuries amongst patients
5.2.2. Length: Increasing advancements in manufacturing techniques to improve performance at smaller needle lengths
5.2.3. Mode of Purchase: Development of innovative products to extend access to specialized prescription devices
5.2.4. Sales Channel: Online sales channel gaining traction with its competitive pricing structure and broader product offerings
5.2.5. Application: Rising utilization of pen needles for minimally invasive skin procedures
5.2.6. End-Use: Employment of single-use disposable pen needles across homecare settings
5.3. Market Trend Analysis
5.3.1. Growing availability of better reimbursement policies for pen needles and insulin drugs & devices in the Americas
5.3.2. Increasing awareness about diabetes and significant improvement in healthcare infrastructure in the Asia-Pacific
5.3.3. Expanding government support for diabetes prevention coupled with strong foothold of pharmaceutical companies in the EMEA region
5.4. Cumulative Impact of High Inflation
5.5. Porter’s Five Forces Analysis
5.5.1. Threat of New Entrants
5.5.2. Threat of Substitutes
5.5.3. Bargaining Power of Customers
5.5.4. Bargaining Power of Suppliers
5.5.5. Industry Rivalry
5.6. Value Chain & Critical Path Analysis
5.7. Regulatory Framework
6. Pen Needles Market, by Product
6.1. Introduction
6.2. Safety Pen Needles
6.3. Standard Pen Needles
7. Pen Needles Market, by Length
7.1. Introduction
7.2. 10mm
7.3. 12mm
7.4. 4mm
7.5. 5mm
7.6. 6mm
7.7. 8mm
8. Pen Needles Market, by Application
8.1. Introduction
8.2. GLP-1 Therapy
8.3. Growth Hormone Therapy
8.4. Hair Treatment
8.5. Insulin Therapy
8.6. Skin Treatment
9. Pen Needles Market, by Mode of Purchase
9.1. Introduction
9.2. OTC
9.3. Prescription
10. Pen Needles Market, by Sales Channel
10.1. Introduction
10.2. Offline
10.3. Online
11. Pen Needles Market, by End-Use
11.1. Introduction
11.2. Homecare
11.3. Hospitals & Clinics
12. Americas Pen Needles Market
12.1. Introduction
12.2. Argentina
12.3. Brazil
12.4. Canada
12.5. Mexico
12.6. United States
13. Asia-Pacific Pen Needles Market
13.1. Introduction
13.2. Australia
13.3. China
13.4. India
13.5. Indonesia
13.6. Japan
13.7. Malaysia
13.8. Philippines
13.9. Singapore
13.10. South Korea
13.11. Taiwan
13.12. Thailand
13.13. Vietnam
14. Europe, Middle East & Africa Pen Needles Market
14.1. Introduction
14.2. Denmark
14.3. Egypt
14.4. Finland
14.5. France
14.6. Germany
14.7. Israel
14.8. Italy
14.9. Netherlands
14.10. Nigeria
14.11. Norway
14.12. Poland
14.13. Qatar
14.14. Russia
14.15. Saudi Arabia
14.16. South Africa
14.17. Spain
14.18. Sweden
14.19. Switzerland
14.20. Turkey
14.21. United Arab Emirates
14.22. United Kingdom
15. Competitive Landscape
15.1. FPNV Positioning Matrix
15.2. Market Share Analysis, By Key Player
15.3. Competitive Scenario Analysis, By Key Player
15.3.1. Merger & Acquisition
15.3.1.1. Novo Nordisk Enters Exclusive Negotiations to Acquire a Controlling Stake in BIOCORP, to be Followed by a Tender Offer on all Remaining Shares
15.3.1.2. Gilde Healthcare Acquires Needle Manufacturer Europin
15.3.2. New Product Launch & Enhancement
15.3.2.1. Terumo India Introduces FineGlide - Sterile Pen Needle for Patients Requiring Insulin Injections or Other Self-medications
15.3.2.2. Owen Mumford Announces Active Safety Pen Needle Join the Unifine Brand
15.3.2.3. Roche Diabetes Care Launches ACCU-FINE Pen Needles for Painless Insulin Delivery
15.3.3. Award, Recognition, & Expansion
15.3.3.1. Montmed Inc. Announces Issuance of a Second U.S. Patent for Sitesmart Pen Needles
16. Competitive Portfolio
16.1. Key Company Profiles
16.1.1. AdvaCare Pharma
16.1.2. Advocate by Pharma Supply, Inc.
16.1.3. Allison Medical, Inc.
16.1.4. ARKRAY, Inc.
16.1.5. Ayset Health Services
16.1.6. B. Braun SE
16.1.7. Becton, Dickinson and Company
16.1.8. Berpu Medical Technology Co., Ltd.
16.1.9. Cardinal Health, Inc.
16.1.10. F. Hoffmann-La Roche Ltd.
16.1.11. Gan & Lee Pharmaceuticals Co., Ltd.
16.1.12. GlucoRx Ltd.
16.1.13. Hindustan Syringes & Medical Devices Ltd.
16.1.14. IME-DC GmbH
16.1.15. Jiangsu Micsafe Medical Technology Co., Ltd.
16.1.16. Jinan Babio Biotechnology Co., Ltd.
16.1.17. Lepu Medical Technology (Beijing) Co., Ltd.
16.1.18. Medexel Co., Ltd.
16.1.19. Medical Technology and Devices S.p.A.
16.1.20. MEDISEC Healthcare
16.1.21. Montméd Inc.
16.1.22. Narang Medical Limited
16.1.23. Neon Diagnostics Ltd.
16.1.24. Nipro Corporation
16.1.25. Novo Nordisk A/S
16.1.26. Owen Mumford Limited
16.1.27. Promisemed Medical Devices Inc.
16.1.28. Shanghai Berpu Medical Co., Ltd
16.1.29. Shanghai Kindly Enterprise Development Group
16.1.30. Sol-Millennium
16.1.31. Spirit Healthcare Pty Ltd.
16.1.32. Terumo Corporation
16.1.33. Trividia Health, Inc.
16.1.34. UltiMed, Inc.
16.1.35. Van Heek Medical
16.1.36. Vitrex Medical A/S
16.1.37. Vogt Medical Vertrieb GmbH
16.1.38. Ypsomed Holding AG
16.1.39. Zibo Sunrise Medical Co., Ltd.
16.2. Key Product Portfolio
17. Appendix
17.1. Discussion Guide
17.2. License & Pricing
List of Figures
FIGURE 1. PEN NEEDLES MARKET RESEARCH PROCESS
FIGURE 2. PEN NEEDLES MARKET SIZE, 2022 VS 2030
FIGURE 3. PEN NEEDLES MARKET SIZE, 2018-2030 (USD MILLION)
FIGURE 4. PEN NEEDLES MARKET SIZE, BY REGION, 2022 VS 2030 (%)
FIGURE 5. PEN NEEDLES MARKET SIZE, BY REGION, 2022 VS 2023 VS 2030 (USD MILLION)
FIGURE 6. PEN NEEDLES MARKET DYNAMICS
FIGURE 7. PEN NEEDLES MARKET SIZE, BY PRODUCT, 2022 VS 2030 (%)
FIGURE 8. PEN NEEDLES MARKET SIZE, BY PRODUCT, 2022 VS 2023 VS 2030 (USD MILLION)
FIGURE 9. PEN NEEDLES MARKET SIZE, BY LENGTH, 2022 VS 2030 (%)
FIGURE 10. PEN NEEDLES MARKET SIZE, BY LENGTH, 2022 VS 2023 VS 2030 (USD MILLION)
FIGURE 11. PEN NEEDLES MARKET SIZE, BY APPLICATION, 2022 VS 2030 (%)
FIGURE 12. PEN NEEDLES MARKET SIZE, BY APPLICATION, 2022 VS 2023 VS 2030 (USD MILLION)
FIGURE 13. PEN NEEDLES MARKET SIZE, BY MODE OF PURCHASE, 2022 VS 2030 (%)
FIGURE 14. PEN NEEDLES MARKET SIZE, BY MODE OF PURCHASE, 2022 VS 2023 VS 2030 (USD MILLION)
FIGURE 15. PEN NEEDLES MARKET SIZE, BY SALES CHANNEL, 2022 VS 2030 (%)
FIGURE 16. PEN NEEDLES MARKET SIZE, BY SALES CHANNEL, 2022 VS 2023 VS 2030 (USD MILLION)
FIGURE 17. PEN NEEDLES MARKET SIZE, BY END-USE, 2022 VS 2030 (%)
FIGURE 18. PEN NEEDLES MARKET SIZE, BY END-USE, 2022 VS 2023 VS 2030 (USD MILLION)
FIGURE 19. AMERICAS PEN NEEDLES MARKET SIZE, BY COUNTRY, 2022 VS 2030 (%)
FIGURE 20. AMERICAS PEN NEEDLES MARKET SIZE, BY COUNTRY, 2022 VS 2023 VS 2030 (USD MILLION)
FIGURE 21. UNITED STATES PEN NEEDLES MARKET SIZE, BY STATE, 2022 VS 2030 (%)
FIGURE 22. UNITED STATES PEN NEEDLES MARKET SIZE, BY STATE, 2022 VS 2023 VS 2030 (USD MILLION)
FIGURE 23. ASIA-PACIFIC PEN NEEDLES MARKET SIZE, BY COUNTRY, 2022 VS 2030 (%)
FIGURE 24. ASIA-PACIFIC PEN NEEDLES MARKET SIZE, BY COUNTRY, 2022 VS 2023 VS 2030 (USD MILLION)
FIGURE 25. EUROPE, MIDDLE EAST & AFRICA PEN NEEDLES MARKET SIZE, BY COUNTRY, 2022 VS 2030 (%)
FIGURE 26. EUROPE, MIDDLE EAST & AFRICA PEN NEEDLES MARKET SIZE, BY COUNTRY, 2022 VS 2023 VS 2030 (USD MILLION)
FIGURE 27. PEN NEEDLES MARKET, FPNV POSITIONING MATRIX, 2022
FIGURE 28. PEN NEEDLES MARKET SHARE, BY KEY PLAYER, 2022

Companies Mentioned

  • AdvaCare Pharma
  • Advocate by Pharma Supply, Inc.
  • Allison Medical, Inc.
  • ARKRAY, Inc.
  • Ayset Health Services
  • B. Braun SE
  • Becton, Dickinson and Company
  • Berpu Medical Technology Co., Ltd.
  • Cardinal Health, Inc.
  • F. Hoffmann-La Roche Ltd.
  • Gan & Lee Pharmaceuticals Co., Ltd.
  • GlucoRx Ltd.
  • Hindustan Syringes & Medical Devices Ltd.
  • IME-DC GmbH
  • Jiangsu Micsafe Medical Technology Co., Ltd.
  • Jinan Babio Biotechnology Co., Ltd.
  • Lepu Medical Technology (Beijing) Co., Ltd.
  • Medexel Co., Ltd.
  • Medical Technology and Devices S.p.A.
  • MEDISEC Healthcare
  • Montméd Inc.
  • Narang Medical Limited
  • Neon Diagnostics Ltd.
  • Nipro Corporation
  • Novo Nordisk A/S
  • Owen Mumford Limited
  • Promisemed Medical Devices Inc.
  • Shanghai Berpu Medical Co., Ltd
  • Shanghai Kindly Enterprise Development Group
  • Sol-Millennium
  • Spirit Healthcare Pty Ltd.
  • Terumo Corporation
  • Trividia Health, Inc.
  • UltiMed, Inc.
  • Van Heek Medical
  • Vitrex Medical A/S
  • Vogt Medical Vertrieb GmbH
  • Ypsomed Holding AG
  • Zibo Sunrise Medical Co., Ltd.

Methodology

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