Global Pen Needles Market Report and Forecast 2023-2031

The global pen needles market size attained a value of USD 3.1 billion in 2022. The market is likely to grow further at a CAGR of 13.90% during the forecast period of 2023-2031 to attain a value of USD 10.05 billion by 2031.

Pen Needles Market: Introduction

Pen needles are a key component of injection devices used for the delivery of various drugs across several medical applications. They are used in conjunction with injection pens to deliver injectable medications into the body. A pen needle consists of a hollow needle which is embedded in a plastic hub and attaches to injection pens.

Pen needles are most commonly used by people with diabetes who often need multiple daily insulin injections. The use of pen needles and insulin pens has grown in popularity due to their ease of use, convenience, and the lessened pain compared to traditional insulin syringes. They are available in different lengths and diameters to accommodate various user needs.

Apart from diabetes management, pen needles are also used in therapies that require multiple injections, such as fertility treatments, growth hormone therapy, and osteoporosis management. They are preferred for their precision, which helps to ensure that medication is delivered accurately, thereby improving treatment efficacy.

The growing prevalence of chronic diseases worldwide that require frequent drug administration has been a key driver in the demand for pen needles. Furthermore, advancements in technology have led to the development of pen needles with finer and shorter needles, further enhancing patient comfort and preference for these devices.

Pen Needles Market Segmentations

The market can be categorised into product type, needle length, usability, therapy, application, end user, and region.

Market Breakup by Product Type

• Standard Pen Needles
• Safety Pen Needles

Market Breakup by Needles Length

• 4mm
• 5mm
• 6mm
• 8mm
• 10mm
• 12mm

Market Breakup by Usability

• Reusable Pen Needles
• Disposable Pen Needles

Market Breakup by Therapy

• Insulin
• Glucagon-like-Peptide-1 (GLP-1)
• Growth Hormone

Market Breakup by Application

• Diabetes
• Growth Hormone Deficiency
• Others

Global Pen Needles Market Breakup by End User

• Hospitals
• Clinics
• Over The Counter
• Home Healthcare
• Others

Pen Needles Market Breakup by Region

North America

• United States of America
• Canada

Europe

• United Kingdom
• Germany
• France
• Italy
• Others

Asia Pacific

• China
• Japan
• India
• ASEAN
• Australia
• Others

Latin America

• Brazil
• Argentina
• Mexico
• Others

Middle East and Africa

• Saudi Arabia
• United Arab Emirates
• Nigeria
• South Africa
• Others

Pen Needles Market Scenario

The global pen needles market is currently on a robust growth trajectory, fuelled primarily by the escalating prevalence of chronic diseases such as diabetes, which necessitate regular, often multiple daily, injections for their management. According to the International Diabetes Federation, over 460 million people worldwide are living with diabetes, a number projected to reach 700 million by 2045. Given this increasing patient population, the demand for pen needles is set to rise correspondingly.

In terms of product innovation, there has been a shift towards shorter, thinner pen needles to minimize pain and the risk of injecting into the muscle instead of subcutaneous fat. The advent of technologies such as safety pen needles and pen needles with built-in removal features to prevent accidental needlestick injuries are also boosting the market growth.

Moreover, the growing adoption of self-injection practices, especially in home care settings, is contributing significantly to the market expansion. This is attributed to the convenience and ease-of-use of pen needles, which empower patients to manage their treatment regimes more effectively.

Regionally, North America currently dominates the global pen needles market, largely due to the high prevalence of diabetes, a well-established healthcare infrastructure, and the presence of key manufacturers in the region. Europe follows closely behind, while the Asia Pacific region is expected to exhibit the fastest growth rate due to a large patient population, improving healthcare facilities, and rising awareness about diabetes management.

On the flip side, factors such as needle anxiety, lack of awareness in low-income countries, and the cost associated with pen needles might restrain the market growth to some extent. However, governmental and non-governmental initiatives to raise awareness about diabetes management, along with manufacturers' efforts to produce more affordable and user-friendly pen needles, are expected to mitigate these challenges.

Overall, the pen needles market is set to continue its growth in the coming years. This growth is underpinned by the increasing prevalence of chronic diseases requiring self-injection, technological advancements in pen needles, and the growing trend of home healthcare.

Key Players in the Global Pen Needles Market

The report gives an in-depth analysis of the key players involved in the pen needles market, sponsors manufacturing the drugs, and putting them through trials to get FDA approvals. The companies included in the market are as follows:

• Novo Nordisk A/S
• YPSOMED
• B. Braun Melsungen AG
• HTL-STREFA S.A
• Terumo Corporation
• BD
• Owen Mumford Inc
• UltiMed, Inc
• Artsana S.p.A
• Trividia Health, Inc
• STAT Medical Devices
• Simple Diagnostics
• Pietrasanta Pharma SpA
• Henso Medical (Hangzhou) Co., Ltd
• Shanghai Beipu Medical Co., Ltd
• Zhejiang Kindly Medical Devices Co., Ltd
• ARKRAY, Inc
• AstraZeneca
• GlaxoSmithKline plc