March 4, 2024

Pen Needles Market Size To Worth Around USD 9.48 Billion By 2032

The pen needles market size was estimated at US$ 3.50 Billion in 2023 and is predicted to grow at a CAGR of 11.70% from 2023 to 2032 to reach around US$ 9.48 Billion by the end of 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 a dynamic sector within the healthcare industry, primarily focusing on the production and distribution of pen needles used for insulin injection. With the rising prevalence of diabetes globally, the demand for pen needles has surged, making it a crucial component in diabetes management. The market encompasses a wide range of pen needle varieties, catering to different patient needs and preferences.

Pen Needles Market Size 2023 To 2032

Growth Factors:

Several factors contribute to the growth of the Pen Needles Market. The increasing incidence of diabetes, advancements in pen needle technology, and the growing preference for injectable insulin over traditional methods are major growth drivers. Additionally, the emphasis on self-administration of insulin and the development of user-friendly pen needle devices have significantly boosted market expansion.

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Dominated Region:

The market is geographically diverse, but certain regions have emerged as dominant players. North America, with its well-established healthcare infrastructure and high diabetes prevalence, holds a significant market share. Europe follows closely, driven by technological innovations and a proactive approach to diabetes management. Emerging economies in Asia-Pacific also play a pivotal role, as they witness a rising diabetic population and increased awareness.

Pen Needles Market Scope

Report CoverageDetails
Growth Rate from 2023 to 2032CAGR of 11.70%
Market Size in 2023USD 3.50 Billion
Market Size by 2032USD 9.48 Billion
Largest MarketEurope
Base Year2022
Forecast Period2023 to 2032
Segments CoveredBy Product, By Needle Length, By Therapy
Regions CoveredNorth America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Drivers:

Key drivers fueling the Pen Needles Market include the growing diabetic population, favorable reimbursement policies, and the convenience offered by pen needles for insulin delivery. Technological advancements, such as the integration of electronic components for precise dosage, are further propelling market growth.

Challenges:

Despite the promising outlook, the market faces challenges such as the high cost of advanced pen needle devices, regulatory hurdles, and competition from alternative insulin delivery methods. Access to healthcare in certain regions, especially in developing countries, remains a challenge, impacting the market’s growth potential.

Opportunities:

Opportunities abound in the Pen Needles Market, driven by ongoing research and development activities. Innovations in needle technology, increasing collaborations between pharmaceutical companies and manufacturers, and the untapped potential in emerging markets present avenues for sustained growth. Strategic partnerships to enhance distribution networks and a focus on creating affordable solutions can unlock new opportunities for market players.

Read Also: Robotic Dentistry Market Size Estimated to Reach USD 1,714.14 Mn by 2032

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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