Pen Needles Market Size is valued at USD 1.66 Bn in 2024 and is predicted to reach USD 3.43 Bn by the year 2031 at a 10.95% CAGR during the forecast period for 2024-2031.
Pen needle devices are available in a variety of lengths to fit different depths of subcutaneous tissue beneath the skin's surface. Pen needles are intended for single-use subcutaneous injection of medication and should not be reused. Diabetes is becoming more common, which has increased the demand for pen needles. With the expanding diabetic population, the target market is likely to increase at a rapid pace over the forecast period. Diabetic patients regularly utilize pen injectors to inject insulin or other medications. Obesity is among the major factors for diabetes, accounting for 80-85% of the chance of having the disease, according to Diabetes.co.uk. Insulin pens are the most simple and quick way to administer the medicine. Pen needles are in huge demand, in tandem with the increased need for insulin pens for diabetics.
Technological advances in various product kinds are also expected to support the growth of the pen needles business. Companies are concentrating on new product development in terms of needle length. For example, in 2021, BD (Becton, Dickinson, and Company) introduced the BD Nano Ultra-Fine pen needle, which has a needle length of 4 mm for increased patient comfort and consistent insulin delivery.
Competitive Landscape:
Some major key players in the Pen Needles Market:
- Becton, Dickinson, and Company (US),
- Novo Nordisk A/S (Denmark),
- Ypsomed Holding AG (Switzerland),
- Braun Melsungen AG (Germany),
- Owen Mumford (UK),
- Terumo Corporation (Japan),
- Nipro Corporation (Japan)
- Allison Medical (US),
- AdvaCare Pharma (US),
- Berpu Medical Technology (China),
- ARKRAY (Japan),
- GlucoRx (UK),
- HTL-STREFA (Poland),
- UltiMed, (US),
- Hindustan Syringes and Medical Devices (India),
- Artsana Group (Italy),
- PromiseMed Diabetes Care (Canada),
- Montmed (Canada),
- Trividia Health (US),
- VOGT Medical Vertrieb (Germany),
- Van Heek Medical (Netherlands),
- Simple Diagnostics (US),
- Lyon (Turkey),
- Links Medical Products (US),
- MHC Medical Products (US)
Market Segmentation:
The Pen Needles market has been segmented based on time, length, therapy, and mode of purchase. The market is segmented as standard pen needles and safety pen needles based on type. The length segment includes 4 mm, 5 mm, 6mm, 8mm, and 10 mm. The therapy segment includes insulin, GLP 1, growth hormone, and other therapies. By the mode of purchase, the market is bifurcated as retail and non-retail.
Based On Type, The Standard Pen Needle Segment Is Accounted As A Major Contributor In The Pen Needles Market.
Since diabetes individuals use bigger dosages daily, standard pen needles were recognized as the largest category. These needles are used by patients having dexterity issues. However, because there is a considerable danger of creating needlestick injuries, which restricts the safe applicability of pen needles, demand for these needles is expected to fall over the projection period.
The 8 Mm Segment Witnessed Growth At A Rapid Rate.
The 8mm pen needle accounted for a sizable market share. These needles are most usually recommended to all patients, including those who are overweight and have the target condition. It provides benefits such as security, user convenience, and ease of disposal.
In The Region, The European Pen Needles Market Holds A Significant Revenue Share.
Due to the increasing frequency of the target condition in this region, Europe dominated the market. Furthermore, the government of the United Kingdom is taking majors to invest in diabetes care & research to improve treatment procedures for diabetic people. The growing number of diabetes patients in this region is fundamentally driving market growth in the United Kingdom. Diabetes, for example, affects more than 4.3 Bn individuals in the United Kingdom, according to Diabetes UK. Furthermore, 850,000 people with diabetes may go undetected.
Pen Needles Market Report Scope
Report Attribute |
Specifications |
Market Size Value In 2024 |
USD 1.66 Bn |
Revenue Forecast In 2031 |
USD 3.43 Bn |
Growth Rate CAGR |
CAGR of 10.95% from 2024 to 2031 |
Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2024 to 2031 |
Historic Year |
2019 to 2023 |
Forecast Year |
2024-2031 |
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
Segments Covered |
By Product, Technology, Application, End-User |
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
Competitive Landscape |
Becton, Dickinson and Company (US), Novo Nordisk A/S (Denmark), Ypsomed Holding AG (Switzerland), B. Braun Melsungen AG (Germany), Owen Mumford (UK), Terumo Corporation (Japan), Nipro Corporation (Japan) Allison Medical (US), AdvaCare Pharma (US), Berpu Medical Technology (China), ARKRAY (Japan), GlucoRx (UK), HTL-STREFA (Poland), UltiMed, (US), Hindustan Syringes and Medical Devices (India), Artsana Group (Italy), PromiseMed Diabetes Care (Canada), Montmed (Canada), Trividia Health (US), VOGT Medical Vertrieb (Germany), Van Heek Medical (Netherlands), Simple Diagnostics (US), Lyon (Turkey), Links Medical Products (US), and MHC Medical Products (US). |
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |