by The pen needles market size is poised to grow by USD 9.48 billion by 2032 from USD 3.50 billion in 2023, exhibiting a CAGR of 11.70% during the forecast period 2023-2032.
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 driven by the increasing prevalence of diabetes worldwide. Pen needles, crucial components of insulin delivery systems, have witnessed substantial demand owing to the rising diabetic population and the growing preference for convenient self-administration of insulin.
Growth Factors:
Several factors contribute to the growth of the Pen Needles Market. The escalating incidence of diabetes, advancements in pen needle technology, and the emphasis on pain reduction during insulin administration are key growth drivers. Additionally, the convenience offered by pen needles, coupled with the rising awareness about diabetes management, further propels market expansion.
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Dominated Region:
North America has emerged as a dominant region in the Pen Needles Market. The region’s robust healthcare infrastructure, increasing diabetic population, and early adoption of advanced medical technologies contribute significantly to its dominance. Europe closely follows, driven by similar factors and a proactive approach to diabetes care.
Pen Needles Market Scope
| Report Coverage | Details |
| Growth Rate from 2023 to 2032 | CAGR of 11.70% |
| Market Size in 2023 | USD 3.50 Billion |
| Market Size by 2032 | USD 9.48 Billion |
| Largest Market | Europe |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Segments Covered | By Product, By Needle Length, By Therapy |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Drivers:
The primary drivers for the Pen Needles Market include the growing prevalence of diabetes, especially type 2 diabetes, which necessitates frequent insulin administration. Technological innovations such as shorter and thinner needles, along with user-friendly designs, enhance patient compliance, fostering market growth. Moreover, the trend toward home healthcare solutions amplifies the demand for pen needles.
Challenges:
Despite the market’s growth, challenges persist. Stringent regulatory requirements for product approval, pricing pressures, and the presence of alternative drug delivery methods pose hurdles for market players. Additionally, limited awareness about advanced pen needle technologies in developing regions can impede market penetration.
Opportunities:
Opportunities abound in the Pen Needles Market, driven by the increasing focus on personalized medicine and the development of smart insulin pens. Moreover, untapped markets in Asia-Pacific and Latin America present significant growth opportunities for market players willing to invest in education and awareness initiatives.
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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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