The global pen needles market size reached US$ 3.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 7.4 Billion by 2028, exhibiting a growth rate (CAGR) of 14.4% during 2023-2028.
Pen needles are disposable hollow needles used in pen injectors for delivering pharmaceutical drugs in the subcutaneous tissues of the body. The needle is fixed in the plastic hub of the medical injector pen and consists of plastic caps and individual wrapping for enhanced security and sterilization. Pen needles are manufactured using electro-polishing techniques to achieve smooth, fine and thin point tips for convenient penetration. They are available in a wide variety of gauge sizes and lengths and are majorly used by diabetic patients that require multiple dosages of insulin injections every day. In comparison to the traditionally used syringes and vials, pen needles are highly cost-effective, convenient to use, portable and do not require refrigeration.
Pen Needles Market Trends:
The increasing prevalence of diabetes mellitus (DM) and other chronic medical disorders, such as osteoporosis, cardiovascular disease (CVD) and multiple sclerosis, is one of the key factors driving the growth of the market. The treatment of these ailments require multidrug regimen that involves daily or weekly administration of medicinal drugs with injector pens. Moreover, the rising geriatric population, which is more susceptible to chronic ailments is contributing to the growth of the market. Insulin pens provide a reliable, accurate and simplified dosing solution to the elderly patients and facilitate self-administration. Additionally, various product innovations, such as the development of ultra-thin and short-length needles with improved drug delivery systems, are acting as other growth-inducing factors. The traditionally used needles were difficult to use during self-dosage and caused more pain and discomfort to the patients. Other factors, including the increasing healthcare expenditure capacities of the masses, along with the implementation of favorable government policies promoting public health, are anticipated to drive the market toward growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global pen needles market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, needle length, therapy, mode of purchase and end user.
Breakup by Type:
Standard Pen Needles
Safety Pen Needles
Breakup by Needle Length:
Breakup by Therapy:
Breakup by Mode of Purchase:
Breakup by End User:
Hospitals and Clinics
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being A. Menarini Diagnostics srl, Advancare Pharma, Arkray Inc., B. Braun Melsungen AG, Becton Dickinson and Company, Hindustan Syringes & Medical Devices Ltd., HTL Strefa SA, Novo Nordisk A/S, Owen Mumford Ltd., Simple Diagnostics, Trividia Health Inc. (Sinocare) and Ultimed Inc.
Base Year of the Analysis
Type, Needle Length, Therapy, Mode of Purchase, End User, Region
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
A. Menarini Diagnostics srl, Advancare Pharma, Arkray Inc., B. Braun Melsungen AG, Becton Dickinson and Company, Hindustan Syringes & Medical Devices Ltd., HTL Strefa SA, Novo Nordisk A/S, Owen Mumford Ltd., Simple Diagnostics, Trividia Health Inc. (Sinocare) and Ultimed Inc.
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Key Questions Answered in This Report
The global pen needles market was valued at US$ 3.3 Billion in 2022.
We expect the global pen needles market to exhibit a CAGR of 14.4% during 2023-2028.
The rising prevalence of chronic disorders, such as Diabetes Mellitus (DM), that require daily or
weekly administration of medicinal drugs, is primarily driving the global pen needles market.
The sudden outbreak of the COVID-19 pandemic has led to rising utilization of pen needles for self- administration of drugs, particularly among patients suffering from medical ailments, to avoid coronavirus infection upon hospital or clinic visits.
Based on the type, the global pen needles market can be segregated into standard pen needles and safety pen needles. Currently, standard pen needles account for the largest market share.
Based on the needle length, the global pen needles market has been divided into 4mm, 5mm, 6mm, 8mm, 10mm, and 12mm. Among these, 8mm long needles currently exhibit a clear dominance in the market.
Based on the therapy, the global pen needles market can be bifurcated into insulin, GLP-1, and
growth hormones, where insulin therapy holds the majority of the total market share.
Based on the mode of purchase, the global pen needles market has been categorized into retail and non-retail. Currently, retail purchase exhibits a clear dominance in the market.
Based on the end user, the global pen needles market can be segmented into hospitals and clinics, home healthcare, and others. Among these, hospitals and clinics currently represent the largest market share.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where Europe currently dominates the global market.
Some of the major players in the global pen needles market include A. Menarini Diagnostics srl, Advancare Pharma, Arkray Inc., B. Braun Melsungen AG, Becton Dickinson and Company, Hindustan Syringes & Medical Devices Ltd., HTL Strefa SA, Novo Nordisk A/S, Owen Mumford Ltd., Simple Diagnostics, Trividia Health Inc. (Sinocare), and Ultimed Inc.
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