Global Pen Needles Market By Product Type (Standard Pen Needles and Safety Pen Needles), By Needles Length (5 mm, 6 mm, 8 mm, and Other Needles Length), By Therapy (Insulin, Growth Hormone, and Glucagon-like-Peptide-1 (GLP-1)), and by Region and Companies Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032.

Pen Needles Market Overview:

The global pen needles market was valued at USD 1,500 million in 2021. It is expected to show attractive growth over the forecast period.

Pen needles are in high demand due to the rising prevalence of diabetes. According to the International Diabetes Federation, 650 million people will have diabetes by 2040. The target market for diabetes will grow due to the increasing number of people with the disease.

Global Pen Needles Market Scope:

Product Type Analysis:

Standard pen needles were the most popular in 2021. This was due to their daily use by diabetic patients, who used larger amounts of them. These needles are often used by people with dexterity issues. These needles are not recommended as they can cause needle stick injuries. This makes it difficult to use pen needles safely.

They are therefore expected to be in low demand in the future. This segment is supported by the rising diabetic population and increased awareness regarding insulin pen usage. The technological advances in safety pen needles will lead to a lucrative growth rate over the forecast period. These devices allow patients to avoid needle stick injuries.

Needle Length Analysis:

The largest market for pen needles in 2021 was 8 mm. These needles are prescribed most often to patients with the target disease, including those who are overweight. A short needle length of 4mm will see a high CAGR during the forecast period. Patients are using the shortest and thinnest needles more often than injections due to their greater comfort. Their thin layer allows for easy access to the patient’s subcutaneous tissue.

Therapy Analysis

The market for pen needles has been divided into three segments based on therapy type: insulin, GLP-1, and growth hormone. In 2015, the insulin therapy segment was the dominant market and will continue to grow over the forecast period. This is due to increasing awareness of self-administration insulin therapy among type 1 and 2 diabetic patients. GLP-1 therapy will also see significant growth in the future. GLP-1 therapy is able to lower blood glucose levels in patients with type 2 diabetes. Novo Nordisk also plans to expand the GLP-1 market.

Маrkеt Ѕеgmеntѕ:

By Product Type

• Standard Pen Needles
• Safety Pen Needles

By Needle Length

• 5 mm
• 6 mm
• 8 mm
• 10 mm
• Other Needle lengths

By Therapy

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

Market Dynamics:

This product is commonly used for injections of insulin or other injectable medications by diabetic patients. People who are obese are more likely to develop diabetes. Insulin pen delivery is the fastest and most convenient method of drug injection. Due to the increasing demand for insulin pens, pen needles are in high demand. These devices are used in conjunction with insulin pens to deliver the medication to the patient.

Regional Analysis

North America will be the market leader in pen needles by 2021. North America was the dominant market for pen needles. Market growth is being driven by the growing prevalence of diabetes and favorable reimbursement for pen needles. Federal initiatives to increase awareness about injection techniques, increased market penetration by top players, and improved pen needle technology is all driving US market growth.

Кеу Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

Novo Nordisk A/S, Becton, Dickinson and Company, TERUMO CORPORATION, Owen Mumford Ltd., Ypsomed, B. Braun Melsungen AG, HTL-STREFA, UltiMed, Inc., Allison Medical, Inc., and Artsana S.p.a. are some of the major players in this market. These companies are involved in product development, regional expansion, mergers, and acquisitions to address the unmet needs of diabetic patients. In the U.K. and Ireland, Becton, Dickinson, and Company introduced the BD Auto shield Dual Safety Pen Needle. This helps to minimize needle stick injuries.

Маrkеt Кеу Рlауеrѕ:

• Novo Nordisk A/S
• Becton
• Dickinson and Company
• TERUMO CORPORATION
• Owen Mumford Ltd.
• Ypsomed
• B. Braun Melsungen AG
• HTL-STREFA
• UltiMed Inc.
• Allison Medical Inc.
• Other Key Players

For the Pen Needles Market research study, the following years have been considered to estimate the market size: