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

 

 

 

Table of Contents

1 Introduction 

    1.1 Objectives of the Study 

    1.2 Market Definition 

    1.3 Market Scope 

           1.3.1 Markets Covered

           1.3.2 Years Considered for the Study

    1.4 Currency 

    1.5 Limitations 

    1.6 Stakeholders 

 

2 Research Methodology 

    2.1 Research Data 

           2.1.1 Secondary Data

                    2.1.1.1 Key Data From Secondary Sources

           2.1.2 Primary Data

                    2.1.2.1 Key Data From Primary Sources

                    2.1.2.2 Key Industry Insights

    2.2 Market Size Estimation 

           2.2.1 Market Data Validation and Triangulation

    2.3 Assumptions for the Study 

3 Executive Summary 

4 Premium Insights 

    4.1 Pen Needles Market Overview 

    4.2 Europe: Pen Needles Market, By Type & Country, 2018 

    4.3 North America: Pen Needles Market, By Type, 2018 

    4.4 Pen Needles Market: Geographic Snapshot 

5 Market Overview 

    5.1 Introduction 

    5.2 Market Dynamics 

           5.2.1 Drivers

                    5.2.1.1 Growing Prevalence of Chronic Diseases

                    5.2.1.2 Favorable Reimbursement in Selected Countries

           5.2.2 Restraints

                    5.2.2.1 Preference for Alternative Modes of Drug Delivery

                    5.2.2.2 Poor Reimbursement Scenario in Developing Countries

           5.2.3 Opportunities

                    5.2.3.1 Growing Preference for Biosimilar Drugs

           5.2.4 Challenges

                    5.2.4.1 Reuse of Pen Needles

 

6 Industry Insights 

    6.1 Introduction 

    6.2 Porter’s Five Forces Analysis 

           6.2.1 Threat of New Entrants

           6.2.2 Bargaining Power of Suppliers

           6.2.3 Bargaining Power of Buyers

           6.2.4 Segment Rivalry

           6.2.5 Threat of Substitutes

    6.3 Competitive Intensity 

           6.3.1 Evaluation Parameters

           6.3.2 Scoring Methodology

           6.3.3 Competitive Intensity Score, By Company

                    6.3.3.1 Competitive Intensity Score for BD

                    6.3.3.2 Competitive Intensity Score for Novo Nordisk

                    6.3.3.3 Competitive Intensity Score for Ypsomed

           6.3.4 Competitive Intensity Mapping of BD, Novo Nordisk, and Ypsomed

           6.3.5 Comparison of Evaluation Parameters, By Company

                    6.3.5.1 Pricing

                    6.3.5.2 Product Portfolio

                    6.3.5.3 Product Launches/Technological Advancements

                    6.3.5.4 Geographical Presence

                    6.3.5.5 Promotional/Marketing Activities

                    6.3.5.6 Sponsorships/Donations/Education/Awareness Campaigns

                    6.3.5.7 M&A, Partnerships, Collaborations, Agreements, and 

Expansions

                    6.3.5.8 Certifications/Accreditations/Awards

 

7 Pen Needles Market, By Type 

    7.1 Introduction 

    7.2 Standard Pen Needles 

           7.2.1 Standard Pen Needles are Preferred Over Safety Pen Needles as They are More Affordable, Considering the Need for Daily Insulin Intake

    7.3 Safety Pen Needles 

           7.3.1 Demand for Safety Pen Needles to Rise Due to Growing Concerns Regarding the Prevention of Nsis Associated With Standard Needles

 

8 Pen Needles Market, By Length 

    8.1 Introduction 

    8.2 4mm 

           8.2.1 4mm Pen Needles are Expected to Register the Highest Growth Rate During the Forecast Period

    8.3 5mm 

           8.3.1 5mm Pen Needles to Register the Second-Highest Growth Rate During the Study Period

    8.4 6mm 

           8.4.1 6mm Pen Needles are the Most Commonly Used Needles Across the Globe

    8.5 8mm 

           8.5.1 8mm Pen Needles Will Continue to Dominate the Pen Needles Market During the Forecast Period

    8.6 10mm 

           8.6.1 Availability of Shorter Pen Needles to Restrain the Growth of the 10mm Pen Needles Market

    8.7 12mm 

           8.7.1 Popularity of Shorter & Less Painful Needles to Hamper the Growth of the 12mm Pen Needles Market

 

9 Pen Needles Market, By Therapy 

    9.1 Introduction 

    9.2 Insulin Therapy 

           9.2.1 Rising Prevalence of Diabetes to Drive the Growth of the Pen Needles Market for Insulin Therapy

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

           9.3.1 Strong Focus of Major Pharmaceutical Companies to Introduce GLP-1 Drugs in the Market to Drive the Growth of the Pen Needles Market for GLP-1 Therapy

    9.4 Growth Hormone Therapy 

           9.4.1 Development of Sustained-Release Growth Hormone Formulations for Reducing Injection Frequency to Restrain the Growth of the Pen Needles Market for Growth Hormone Therapy

    9.5 Other Therapies 

 

10 Pen Needles Market, By Mode of Purchase 

     10.1 Introduction 

     10.2 Retail 

             10.2.1 Retail Purchases of Pen Needles to Witness High Growth in the Coming Years Owing to the Growing Popularity of Online Purchases

     10.3 Non-Retail 

             10.3.1 The Large Number of Needle-Phobic Diabetic Patients is Supporting the Growth of This Segment

 

11 Pen Needles Market, By Region 

     11.1 Introduction 

     11.2 North America 

             11.2.1 US

                        11.2.1.1 US Dominates the Pen Needles Market in North America

             11.2.2 Canada

                        11.2.2.1 High Diabetes Prevalence and Growing Geriatric Population Will Support Pen Needle Uptake

     11.3 Europe 

             11.3.1 Germany

                        11.3.1.1 High Diabetes Expenditure and Reimbursement for Pen Needles is Expected to Drive the Market in Germany

             11.3.2 UK

                        11.3.2.1 NHS Support and Access to Cost-Effective Pen Needles are Likely to Drive the Market in the UK

             11.3.3 France

                        11.3.3.1 Higher Insurance Coverage and Increase in Aging Population and Affordability Contribute to Demand for Pen Needles

             11.3.4 Italy

                        11.3.4.1 Wide Regional Variations in Terms of Benefits and Coverage to Slow Growth in Italy

             11.3.5 Spain

                        11.3.5.1 Supportive Regulations Mandating the Use of Safety Pen Needles to Boost the Growth of the Spanish Market

             11.3.6 Rest of Europe

     11.4 Asia Pacific 

             11.4.1 Japan

                        11.4.1.1 High Diabetes Incidence and Approval of Injectable Insulin to Drive the Pen Needles Market in Japan

             11.4.2 China

                        11.4.2.1 Suboptimal Insurance Coverage Policies Will Dampen Market Growth

             11.4.3 India

                        11.4.3.1 Low Pen Needle Penetration, Lack of Awareness to Restrain Market Growth in India

             11.4.4 Rest of Asia Pacific

     11.5 Rest of the World 

             11.5.1 Latin America

                        11.5.1.1 Healthcare Reforms to Drive Growth in Mexico

             11.5.2 Middle East & Africa

                        11.5.2.1 Favorable Reforms in South Africa to Bolster Market Growth

 

12 Competitive Landscape

     12.1 Overview 

     12.2 Market Share (As of 2018) 

             12.2.1 Becton, Dickinson and Company

             12.2.2 Novo Nordisk

             12.2.3 Ypsomed

     12.3 Competitive Leadership Mapping (2018) 

             12.3.1 Vendor Inclusion Criteria

             12.3.2 Visionary Leaders

             12.3.3 Innovators

             12.3.4 Dynamic Differentiators

             12.3.5 Emerging Companies

     12.4 Competitive Scenario 

             12.4.1 Product Launches

             12.4.2 Expansions

             12.4.3 Agreements

 

13 Company Profiles 

(Introduction, Products & Services, Strategy, & Analyst Insights, Developments, FutureWise View)*

     13.1 Becton, Dickinson and Company 

     13.2 Novo Nordisk 

     13.3 Ypsomed 

     13.4 Owen Mumford, Ltd. 

     13.5 HTL-Strefa 

     13.6 B. Braun Melsungen 

     13.7 Terumo Corporation 

     13.8 Ultimed 

     13.9 Allison Medical, Inc. 

     13.10 Artsana S.P.A. 

     13.11 Arkray, Inc. 

     13.12 Glucorx 

 

Tables

Figures