Pen Needles Market by Product (Safety Pen Needles, Standard Pen Needles), Length (10mm, 12mm, 4mm), Application, Mode of Purchase, Sales Channel, End-Use - Global Forecast 2024-2030

Pen Needles Market by Product (Safety Pen Needles, Standard Pen Needles), Length (10mm, 12mm, 4mm), Application, Mode of Purchase, Sales Channel, End-Use - Global Forecast 2024-2030

The Pen Needles Market size was estimated at USD 1.90 billion in 2023 and expected to reach USD 2.07 billion in 2024, at a CAGR 9.55% 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.

Market Insights

• Market Dynamics
  
  The market dynamics represent an ever-changing landscape of the Pen Needles Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
  • Market Drivers
    • Rising prevalence of diabetes with increasing awareness about diabetes management
    • Growing trend towards self-administration of medication at home
    • Increasing availability of pen needles through online pharmacy
    • Market Restraints
      • Product recall impacting brand reputation
      • Market Opportunities
        • Continuous innovations in the development of pen needles
        • High potential of pen needles for skin and hair treatment
        • Market Challenges
          • Risk of contamination and infection associated with pen needles
          • Market Segmentation Analysis
            • Product: Increasing use of safety pen needles for minimization of needlestick injuries amongst patients
            • Length: Increasing advancements in manufacturing techniques to improve performance at smaller needle lengths
            • Mode of Purchase: Development of innovative products to extend access to specialized prescription devices
            • Sales Channel: Online sales channel gaining traction with its competitive pricing structure and broader product offerings
            • Application: Rising utilization of pen needles for minimally invasive skin procedures
            • End-Use: Employment of single-use disposable pen needles across homecare settings
            • Market Disruption Analysis
            • Porter’s Five Forces Analysis
            • Value Chain & Critical Path Analysis
            • Pricing Analysis
            • Technology Analysis
            • Patent Analysis
            • Trade Analysis
            • Regulatory Framework Analysis
            FPNV Positioning Matrix
            
            The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Pen Needles Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment 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, namely 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 assessment of the current state of vendors in the Pen Needles Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. 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 these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
            
            Recent Developments
            • Terumo India Introduces FineGlide - Sterile Pen Needle for Patients Requiring Insulin Injections or Other Self-medications
              
              Pen Needles Terumo India, the Indian subsidiary of Terumo Corporation, launched FineGlide, a sterile pen needle designed to enhance patient comfort and improve compliance. FineGlide is compatible with most pen devices in India, making it highly beneficial for individuals who require regular insulin injections or other forms of self-medication. By addressing the needs of patients and healthcare providers, Terumo India aims to contribute to the overall well-being of individuals who rely on pen devices for their medical needs.
              
              Novo Nordisk Enters Exclusive Negotiations to Acquire a Controlling Stake in BIOCORP, to be Followed by a Tender Offer on all Remaining Shares
              
              Novo Nordisk A/S and BIOCORP Production SA have entered into negotiations for a controlling stake in BIOCORP. The collaboration between Novo Nordisk and BIOCORP began in 2021, aiming to develop and commercialize Mallya. Mallya is a Bluetooth-enabled smart add-on device for pen injectors. This innovative device seeks to improve care for individuals with serious chronic diseases.
              
              Montmed Inc. Announces Issuance of a Second U.S. Patent for Sitesmart Pen Needles
              
              Montmed, Inc. announced that the USPTO has issued a second U.S. Patent, 11,517,659, for its novel technology patent family. This patent aims to assist insulin users in easily developing and implementing healthy injection site rotation practices. The newly issued patent integrates distinctive marks and user-defined associations in digital devices or software, enhancing the user experience and ensuring optimal injection practices.
            Strategy Analysis & Recommendation
            
            The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Pen Needles Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
            
            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
                                  
                                  
                                  Please Note: PDF & Excel + Online Access - 1 Year