Global Pen Needles Market Size, Share & Industry Trends Analysis Report By Type, By Setting, By Application, By Length (8mm, 6mm, 5mm, 10mm, 12mm, and 4mm), By Mode of Purchase, By Regional Outlook and Forecast, 2023 - 2030

Global Pen Needles Market Size, Share & Industry Trends Analysis Report By Type, By Setting, By Application, By Length (8mm, 6mm, 5mm, 10mm, 12mm, and 4mm), By Mode of Purchase, By Regional Outlook and Forecast, 2023 - 2030

The Global Pen Needles Market size is expected to reach $3.1 billion by 2030, rising at a market growth of 9.4% CAGR during the forecast period. In the year 2022, the market attained a volume of 86,930.9 thousand Units experiencing a growth of 9.1% (2019-2022).

The trend toward self-administration empowers patients to manage their health and treatment independently. This is particularly evident in diabetes management, where self-administration of insulin has become the norm for many patients. Therefore, Insulin segment generated $1,122.2 million revenue in the market in 2022. As a result, self-administration can lead to cost savings for healthcare systems by reducing the need for frequent clinical visits and healthcare professional assistance. This is beneficial, especially in healthcare settings with limited resources.

The major strategies followed by the market participants are Partnerships as the key developmental strategy to keep pace with the changing demands of end users. For instance, In May, 2023, Embecta Corp. came into partnership with Tidepool, to develop an automated insulin delivery system for the treatment of type 2 diabetes. The two companies would combine their respective offerings to facilitate glucose management within the patients to achieve the aim of their partnership. Moreover, In November, 2021, Terumo Corporation signed a partnership with Diabeloop, to provide Automated Insulin Delivery solutions to European customers. The partnership expands the two company's geographical footprint.

Based on the Analysis presented in the KBV Cardinal matrix; Novo Nordisk A/S is the forerunner in the Market. In September, 2023, Novo Nordisk A/S came into partnership with Aspen Pharmacare Holdings Limited, a global pharmaceutical company. The partnership aimed at providing affordable human insulin to patients within the African continent. Companies such as Terumo Corporation, B. Braun Melsungen AG and Embecta Corp. are some of the key innovators in the Market.

COVID-19 Impact Analysis

The COVID-19 pandemic had a significant impact on the market. With the pandemic limiting in-person healthcare visits, many people with diabetes and other chronic conditions turned to telemedicine for remote consultations and prescription renewals. As a result, the demand for self-administered medical devices like pen needles increased to facilitate home-based care. The pandemic disrupted global supply chains, leading to delays in the manufacturing and distribution of medical devices, including pen needles. This caused temporary shortages and distribution challenges for these critical healthcare products. This likely led to a surge in the adoption of these needles. Due to such factors, the market will uplift after the pandemic.

Market Growth Factors

Expansion of technological advancements

Special coatings on pen needles can make the injection process smoother and less painful. These coatings can help the needle glide through the skin more easily. Technological advancements have enabled manufacturers to offer various pen needles with varying specifications to meet individual patient needs. These needles are often compatible with different pen devices, enhancing their versatility. Improved manufacturing processes have increasing precision and quality in pen needle production, ensuring consistent and reliable performance. Some pen devices and pen needles are integrated with digital health technologies, allowing patients to track their injections and monitor their health more effectively. As technology advances, the market will likely see further growth and innovation.

Growing prevalence of diabetes

Modern lifestyles characterized by sedentary behavior, unhealthy dietary habits, and increased stress levels have contributed to a rise in obesity and, consequently, type 2 diabetes. As the global population ages, the risk of developing type 2 diabetes increases. Elderly adults are more susceptible to this condition. Obesity is a substantial risk factor for type 2 diabetes. Global obesity has led to a higher incidence of diabetes cases. Increasing urbanization has led to more people leading sedentary lives, which can contribute to insulin resistance and the development of type 2 diabetes. The increasing prevalence of diabetes has a significant impact on the market, driving both the development of advanced pen needles and the expansion of their use in various healthcare settings.

Market Restraining Factors

Preference for alternative drug delivery method

The preference for alternative drug delivery methods, especially for specific medications, can result in competition for market share with pen needles. Manufacturers must adapt to changing preferences and innovate to remain competitive. The market may become saturated, especially in regions with prevalent or preferred alternative delivery methods. Manufacturers need to diversify their product offerings. Some patients struggle with adherence to injection regimens, leading healthcare providers to explore alternative methods that improve patient compliance. This requires patient education and support. The above factors will challenge market growth in the coming years.

Type Outlook

On the basis of type, the market is segmented into standard pen needles and safety pen needles. In 2022, the standard pen needles segment dominated the market with the maximum revenue share. Standard pen needles are designed for routine injections and come in various specifications to meet the needs of different patients. Standard pen needles are intended for one-time use. The needle length and gauge choice are based on individual preferences, body type, and healthcare provider recommendations. Some individuals prefer shorter and thinner needles for comfort, while others require longer needles for proper subcutaneous insulin delivery.

Setting Outlook

Based on setting, the market is divided into homecare, hospitals & clinics, and others. The hospitals & clinics segment garnered a significant revenue share in the market in 2022. Hospitals and clinics use pen needles extensively for diabetes management. This training ensures that patients can safely and effectively self-administer medications. Using pen needles in hospitals and clinics is crucial for providing effective and convenient subcutaneous medication administration to patients with various medical conditions. The patient's needs and the medication administered determine the pen needle type, length, and gauge choice.

Application Outlook

By application, the market is classified into insulin, glucagon-like-peptide-1 (GLP-1), growth hormone, osteoporosis, and others. In 2022, the insulin segment registered the highest revenue share in the market. Insulin therapy involves the subcutaneous administration of insulin, which means injecting insulin into the fatty tissue beneath the skin. Using pen needles in insulin therapy allows individuals to personalize their diabetes management based on their lifestyle, insulin regimen, and healthcare provider recommendations. Insulin therapy with pen needles is crucial for individuals with diabetes to maintain proper blood glucose control and prevent complications associated with high or low blood sugar levels.

Length Outlook

Based on length, the market is fragmented into 4mm, 5mm, 6mm, 8mm, 10mm, and 12mm. The 12mm segment projected a significant revenue share in the market in 2022. People with diabetes, both type 1 and type 2, often use 12mm pen needles to self-administer insulin. The longer length of these needles ensures that the insulin is delivered into the subcutaneous tissue, even in individuals with thicker skin or more subcutaneous fat. Longer needles can help reduce the risk of medication leakage or being injected too shallowly, ensuring that the medication is effectively delivered to the intended tissue layer.

Mode of Purchase Outlook

On the basis of mode of purchase, the market is categorised into prescription-based, over the counter, online purchase, and others. In 2022, the over the counter segment generated the largest revenue share in the market. Over-the-counter (OTC) pen needles are pen needles that can be purchased without the need for a prescription from a healthcare provider. The availability of OTC pen needles provides a suitable and accessible option for individuals who require these devices for their medical treatment, particularly those with diabetes who need insulin administration.

Regional Outlook

Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region dominated the market with the maximum revenue share. The growth of the North America market is primarily driven by factors such as the high prevalence of diabetes, the increase in the adoption of insulin pens, and the rise in awareness regarding the benefits of pen needles over traditional syringes. Moreover, the availability of a various range of pen needles with different lengths, gauges, and designs and the presence of established market players such as Becton, Dickinson and Company, Novo Nordisk A/S, and Owen Mumford are contributing to the growth of the market in North America.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Embecta Corp., Novo Nordisk A/S, Ypsomed AG, B. Braun Melsungen AG, Terumo Corporation, Nipro Corporation, Owen Mumford Limited, Arkray, Inc., UltiMed, Inc. and Allison Medical, Inc.

Recent Strategies Deployed in Pen Needles Market

Partnerships, Collaborations & Agreements:

Sep-2023: Novo Nordisk A/S came into partnership with Aspen Pharmacare Holdings Limited, a global pharmaceutical company. The partnership aimed at providing affordable human insulin to patients within the African continent.

May-2023: Embecta Corp. came into partnership with Tidepool, an AI-driven diabetes treatment solutions provider, to develop an automated insulin delivery system for the treatment of type 2 diabetes. The two companies would combine their respective offerings to facilitate glucose management within the patients to achieve the aim of their partnership.

Nov-2021: Terumo Corporation signed a partnership with Diabeloop, a therapeutic AI solutions provider, to provide Automated Insulin Delivery solutions to European customers. The partnership expands the two company's geographical footprint.

Product Launches and Product Expansions:

Oct-2022: Ypsomed AG released YpsoMate 5.5, an autoinjector platform for liquid medications with volumes within the 1.5 to 5.5 ml range. The product facilitates the self-administration of medicines to treat autoimmune diseases.

Sep-2022: Terumo Corporation announced the launch of FineGlide, a Sterile Pen Needle for facilitating regular insulin injections. The product has a 3-bevel sharp needle and a reliable silicone surface along with Thin Wall Technology for increasing flow rate that facilitates lesser injection force.

Dec-2021: Ypsomed AG introduced YpsoMate On, an autoinjector for prefilled syringes. The product is connectivity-enabled and can provide effective treatment for chronic diseases.

Dec-2021: Owen Mumford Limited announced the launch of Unifine Ultra, a home-use pen needle. The needle features an ergonomic design for facilitating easy use. Additionally, the needle includes Owen Mumford's SafeControl Technology which is used to secure both ends of the needle, thereby facilitating increased patient compliance.

Mergers & Acquisition:

Oct-2023: Novo Nordisk A/S acquired Biocorp Production, a French medical device manufacturer. The acquisition strengthens Novo Nordisk's devices and delivery solutions.

Geographical Expansions:

Mar-2023: Novo Nordisk A/S expanded its geographical footprint by opening a new R&D facility in Boston, United States. The new facility would serve as the premier US-based research and development activities hub for Novo Nordisk.

Scope of the Study

Market Segments covered in the Report:

By Type (Volume, Thousand Units, USD Billion/Million, 2019-2030)

• Standard Pen Needles
• Safety Pen Needles

By Setting (Volume, Thousand Units, USD Billion/Million, 2019-2030)

• Homecare
• Hospitals & Clinics
• Others

By Application (Volume, Thousand Units, USD Billion/Million, 2019-2030)

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

By Length

• 8mm
• 6mm
• 5mm
• 10mm
• 12mm
• 4mm

By Mode of Purchase (Volume, Thousand Units, USD Billion/Million, 2019-2030)

• Over the Counter
• Prescription-based
• Online Purchase
• Others

By Geography (Volume, Thousand Units, USD Billion/Million, 2019-2030)

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA

Companies Profiled

• Embecta Corp.
• Novo Nordisk A/S
• Ypsomed AG
• B. Braun Melsungen AG
• Terumo Corporation
• Nipro Corporation
• Owen Mumford Limited
• Arkray, Inc.
• UltiMed, Inc.
• Allison Medical, Inc.

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