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Global Pen Needles Market to reach USD 7.57 billion by the end of 2030

Global Pen Needles Market Size Study & Forecast, by Product (Standard Pen Needles, Safety Pen Needles), by Needle Length (4mm, 5mm, 6mm, 8mm, 10mm, 12mm), by Therapy (Insulin, Glucagon-like-peptide-1, Growth Hormone), and Regional Analysis, 2023-2030

Product Code: HLSMDE-92220212
Publish Date: 20-02-2024
Page: 200

Global Pen Needles Market is valued at approximately USD 3.1 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 11.8% during the forecast period 2023-2030. Pen needles are compact, disposable medical devices affixed to an injector pen, facilitating the administration of various medications. These needles, available in diverse lengths and gauges, are crafted from plastic or plastic-coated metal for ease of handling. The needle tip often features a slanted design for enhanced efficacy with a stainless-steel needle for robustness and minimal discomfort during skin penetration. Additionally, a lubricant is applied to mitigate injection pain. Pen needles are utilized with injection pens to deliver medications into the body. The use of pen needles has gained popularity as a preferred alternative to traditional syringes and vials, promoting ease of use, reduced needle anxiety, and enhanced dosing accuracy for improved adherence to insulin therapy regimens. The growth of the Pen Needle Market is attributed to factors such as the increasing prevalence of chronic diseases, favorable reimbursements in mature markets, a rise in inclination towards self-administration and a growing preference for pen needles over syringes and vials.

Additionally, a rise in the diabetic population, coupled with increasing healthcare expenditure on diabetes is further playing a prominent role in bolstering the market demand at a substantial rate. According to the International Diabetic Federation (IDF), in 2019, there were nearly 463 million adults aged between 20-79 years suffering from diabetes. Also, the amount is anticipated to reach around 700 million by 2045. The demand for practical and efficient insulin delivery systems as the number of people with diabetes diagnoses rises. Pen needles are essential for delivering insulin, which is frequently needed to manage diabetes. Pen needle demand is rising in tandem with the number of individuals needing insulin treatment to regulate blood sugar levels. These tools make administering insulin injections easier to use and less frightening, which helps patients follow their treatment plans more closely. As a result, the growing number of people with diabetes is a major factor that is propelling the growth of the Pen Needles Market over the estimated period. Moreover, the rising inclination towards biosimilar drugs, as well as regulatory mandates for safety pen needles present various lucrative opportunities over the forecast years. However, the availability of alternative methods of drug delivery and the lack of skilled professionals are hindering the market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Pen Needles Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the rising cases of chronic diseases, strong presence of major key players, growing approvals of pen injectors for diverse applications across multiple countries, and governmental initiatives aimed at enhancing awareness regarding advancements in insulin drug delivery. Whereas, Asia Pacific is expected to grow at the fastest CAGR over the forecast years. The rising preference for pen needles over syringes and vials, coupled with the growing elderly population, is fueling the demand for pen needles in the Asia-Pacific (APAC) region. China is a promising market in this region with the increasing diabetic population. The current prevalence of diabetes among adults reaches 11.2%, as indicated by the Guidelines for the Prevention and Treatment of Diabetes in China (2020 Edition). The estimated number of individuals with diabetes in China is 141 million, with an undiagnosed ratio of 51.7%, which is significantly propelling the market demand across the region.

Major market players included in this report are:
Novo Nordisk A/S
Becton, Dickinson and Company
Terumo Corp.
Owen Mumford Ltd.
B. Braun SE
UltiMed, Inc.
Allison Medical, Inc.
Artsana S.p.A.

Recent Developments in the Market:
Ø In April 2022, Embecta Corp. (US) successfully concluded its spin-off from Becton, Dickinson and Company (US), marking the commencement of its independent operations as a dedicated diabetes care company with a global presence.
Ø In January 2021, the National Health Service (NHS) in the United Kingdom selected Owen Mumford (UK) as the exclusive supplier of safety pen needles. This collaboration ensures that Owen Mumford’s pen needles is designated choice for use in all NHS Wales hospitals.

Global Pen Needles Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Product, Needle Length, Therapy, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product:
Standard Pen Needles
Safety Pen Needles

By Needle Length:

By Therapy:
Growth Hormone

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Pen Needles Market, by Region, 2020-2030 (USD Billion)
1.2.2. Pen Needles Market, by Product, 2020-2030 (USD Billion)
1.2.3. Pen Needles Market, by Needle Length, 2020-2030 (USD Billion)
1.2.4. Pen Needles Market, by Therapy, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Pen Needles Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Pen Needles Market Dynamics
3.1. Pen Needles Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Increasing diabetic population Rise in inclination towards adoption of self-administration
3.1.2. Market Challenges Availability of alternative methods of drug delivery Lack of skilled professionals
3.1.3. Market Opportunities Rising inclination towards the biosimilar drugs Regulatory mandates for safety pen needles
Chapter 4. Global Pen Needles Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Pen Needles Market, by Product
5.1. Market Snapshot
5.2. Global Pen Needles Market by Product, Performance – Potential Analysis
5.3. Global Pen Needles Market Estimates & Forecasts by Product 2020-2030 (USD Billion)
5.4. Pen Needles Market, Sub Segment Analysis
5.4.1. Standard Pen Needles
5.4.2. Safety Pen Needles
Chapter 6. Global Pen Needles Market, by Needle Length
6.1. Market Snapshot
6.2. Global Pen Needles Market by Needle Length, Performance – Potential Analysis
6.3. Global Pen Needles Market Estimates & Forecasts by Needle Length 2020-2030 (USD Billion)
6.4. Pen Needles Market, Sub Segment Analysis
6.4.1. 4mm
6.4.2. 5mm
6.4.3. 6mm
6.4.4. 8mm
6.4.5. 10mm
6.4.6. 12mm
Chapter 7. Global Pen Needles Market, by Therapy
7.1. Market Snapshot
7.2. Global Pen Needles Market by Therapy, Performance – Potential Analysis
7.3. Global Pen Needles Market Estimates & Forecasts by Therapy 2020-2030 (USD Billion)
7.4. Pen Needles Market, Sub Segment Analysis
7.4.1. Insulin
7.4.2. Glucagon-like-peptide-1
7.4.3. Growth Hormone
Chapter 8. Global Pen Needles Market, Regional Analysis
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Pen Needles Market, Regional Market Snapshot
8.4. North America Pen Needles Market
8.4.1. U.S. Pen Needles Market Product breakdown estimates & forecasts, 2020-2030 Needle Length breakdown estimates & forecasts, 2020-2030 Therapy breakdown estimates & forecasts, 2020-2030
8.4.2. Canada Pen Needles Market
8.5. Europe Pen Needles Market Snapshot
8.5.1. U.K. Pen Needles Market
8.5.2. Germany Pen Needles Market
8.5.3. France Pen Needles Market
8.5.4. Spain Pen Needles Market
8.5.5. Italy Pen Needles Market
8.5.6. Rest of Europe Pen Needles Market
8.6. Asia-Pacific Pen Needles Market Snapshot
8.6.1. China Pen Needles Market
8.6.2. India Pen Needles Market
8.6.3. Japan Pen Needles Market
8.6.4. Australia Pen Needles Market
8.6.5. South Korea Pen Needles Market
8.6.6. Rest of Asia Pacific Pen Needles Market
8.7. Latin America Pen Needles Market Snapshot
8.7.1. Brazil Pen Needles Market
8.7.2. Mexico Pen Needles Market
8.8. Middle East & Africa Pen Needles Market
8.8.1. Saudi Arabia Pen Needles Market
8.8.2. South Africa Pen Needles Market
8.8.3. Rest of Middle East & Africa Pen Needles Market

Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Company 1
9.1.2. Company 2
9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. Novo Nordisk A/S Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.3.2. Becton, Dickinson and Company
9.3.3. Terumo Corp.
9.3.4. Owen Mumford Ltd.
9.3.5. Ypsomed
9.3.6. B. Braun Melsungen SE
9.3.7. HTL-STREFA Inc
9.3.8. UltiMed, Inc.
9.3.9. Allison Medical, Inc.
9.3.10. Artsana S.p.A.
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

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