Overview

Global Pen Needles Market to value over US $ 1.6 billion and grow at a CAGR of over 9.6% during the forecast period from 2019 to 2026.

Pen needles are fairly prevalent in the medical world. It is mainly used for patients diagnosed with diabetes. The market is soaring owing to applications across other industries as well.

Insulin pens are the most efficient and safest way to deliver insulin. With rising consumer awareness, the insulin pen needles are gaining popularity and expanding the market worldwide. The employment of pen needles especially in insulin delivery is increasing as it is highly beneficial and convenient, can be used anywhere due to its simplicity and is self-administered, while maintaining dosage accuracy. The global pen needles market is expected to grow significantly due to the rising prevalence of diabetes and other chronic diseases. According to the Center for Disease Control (CDC), 11.9% of the U.S. population is suffering from diabetes which is increasing at 0.7% each year, however, 83.2% are diagnosed and the rest are undiagnosed. The major risk associated with diabetes is rising mortality rate. Increasing reimbursements in developing countries also favour the growth of this market.

Based on type, the market is categorized into standard pen needles and safety pen needles. Standard pen needles held major market share due to its daily consumption of big dosages by diabetic patients. The rising number of diabetic population and awareness level regarding the usage of insulin pens are some of the factors supporting the segment growth.

According to needle length, the market is distinguished into 4mm, 5m, 6mm, 8mm, 10mm, and 12mm. The 8mm sized pen needle constituted the largest market share. These types of needles are widely used across all industries and find immense application. Needle length of 4mm is anticipated to witness a robust CAGR over the forecast period owing to its compatible features. Reduced pain and higher accuracy drive the growth of this segment.

On the basis of therapy type, the market has been segmented into insulin, GLP-1, growth hormone and other therapies. The insulin therapy segment dominated the market and is also projected to showcase lucrative growth over the forecast period. This is due to the increasing awareness about self-administration of insulin therapy amongst the type 1 and type 2 diabetes patients.

Global Pen Needles Market Regional Insights

North America is forecasted to hold major market share in the global pen needles market. Growing number of diabetes cases and favorable reimbursement scenario for pen needles, federal initiatives to create awareness about injection techniques, increasing market penetration by leading players, and the development of improved pen needle technologies are factors boosting the market growth.

Prominent players in the market are Becton, Dickinson and Company (US), Novo Nordisk A/S (Denmark), Ypsomed Holding AG (Switzerland), B. Braun Melsungen AG (Germany), HTL-STREFA S.A. (Poland), Terumo Corporation (Japan), and Owen Mumford (UK).

Pen Needles Market Segmentation:

By Type

● Standard Pen Needles

Safety Pen Needles       

By Length

4mm

5mm

6mm

8mm

10mm

12mm

By Therapy

Insulin Therapy

Glucagon-Like Peptide-1 (GLP-1) Therapy

Growth Hormone Therapy

Other Therapies

By Mode of Purchase

Retail

Non-Retail  

By Region

Europe

North America

APAC

Latin America

Rest of World

Competitive Landscape

Tier 1 players- established companies in the market with a major market share

Tier 2 players

Emerging players which are growing rapidly

New Entrants 

FutureWise Takeaways

Growth prospects

SWOT Analysis

Key Trends

Key Data Points Affecting Market Growth

Objectives of the Study:

To provide an exhaustive analysis on the global pen needles market by type, by length by therapy, by mode of purchase, and by region

To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)

To evaluate and forecast micro-markets and the overall market

To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the rest of the world

To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions

Profiling of companies to evaluate their market shares, strategies, financials and core competencies

 

 

 

$3450

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What you get


  • Excel Dataset

  • Infographics

  • PDF Report

  • Market Overview

  • PowerPoint Presentation

What's included


  • Consumer Perception and Procurement

  • Competitive Analysis

  • What’s Next

  • Market Data Forecast

  • Risks and Opportunity Assessment

  • Market Trends and Dynamics