Overview

Pen Needles Market to value over US $ 2 billion and grow at a CAGR of over 10.1% during the forecast period from 2020 to 2027.

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 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.

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, Novo Nordisk A/S, Ypsomed Holding AG , B. Braun Melsungen AG , HTL-Strefa S.A. , Terumo Corporation, and Owen Mumford, Allison Medical, Inc., UltiMed, Inc.

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. Market Introduction
        1.1. Objectives of the Study 
        1.2. Market Definition 
        1.3. Market Scope 
               1.3.1. Years Considered for the Study
               1.3.2. Market Covered
        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
        2.2. Market Size Estimation 
        2.3. Market Breakdown and Data Triangulation 
        2.4. Assumptions for the Study  
3. Executive Summary
        3.1. Market Outlook
        3.2. Segment Outlook
        3.3. Competitive Insights
4. Global Pen Needles Market Variables, Trends & Scope
        4.1. Market Lineage Outlook
        4.2. Penetration and Growth Prospect Mapping
        4.3. Industry Value Chain Analysis
        4.4. Cost Analysis Breakdown
        4.5. Technology Overview
        4.6. Regulatory Framework
                 4.6.1. Reimbursement Framework
                 4.6.2. Standards and Compliances
5. Global Pen Needles Market Overview
        5.1. Market Dynamics
                  5.1.1. Market Driver Analysis
                            5.1.1.1. Increasing focus of Pen Needles Companies on Brand Protection
                            5.1.1.2. Untapped Opportunities in Emerging Regions
                  5.1.2. Market Restraint Analysis
                            5.1.2.1. High Cost Associated with Implementation of Predictive Analysis
                  5.1.3. Industry Challenges
                            5.1.3.1. Presence of Ambiguous Regulatory Framework
6. Global Pen Needles Market Analysis Tools
        6.1. Industry Analysis - Porter’s
               6.1.1. Supplier Power
               6.1.2. Buyer Power
               6.1.3. Substitution Threat
               6.1.4. Threat from New Entrants
               6.1.5. Competitive Rivalry
        6.2. Pestel Analysis
               6.2.1. Political Landscape
               6.2.2. Environmental Landscape
               6.2.3. Social Landscape
               6.2.4. Technology Landscape
               6.2.5. Legal Landscape
        6.3. Major Deals And Strategic Alliances Analysis
                6.3.1. Joint Ventures
                6.3.2. Mergers and Acquisitions
                6.3.3. Licensing and Partnership
                6.3.4. Technology Collaborations
                6.3.5. Strategic Divestments
        6.4. Market Entry Strategies
        6.5. Case Studies
7. Global Pen Needles Market, By Type Historical Analysis and Forecast 2020-2027 (USD Million)
        7.1 Standard Pen Needles
        7.2 Safety Pen Needles       
8. Global Pen Needles Market, By Length Historical Analysis and Forecast 2020-2027 (USD Million)
        8.1. 4mm
        8.2. 5mm
        8.3. 6mm
        8.4. 8mm
        8.5. 10mm
        8.6. 12mm
9. Global Pen Needles Market, By Mode of Purchase Historical Analysis and Forecast 2020-2027 (USD Million)
        9.1. Retail
        9.2. Non-Retail  
10. Global Pen Needles Market, By Therapy Historical Analysis and Forecast 2020-2027 (USD Million)
        10.1. Insulin Therapy        
        10.2. Glucagon-Like Peptide-1 (GLP-1) Therapy
        10.3. Growth Hormone Therapy
        10.4. Other Therapies
11. North America Market Analysis 2015–2019 and Forecast 2020–2027 (USD Million)
        11.1. Introduction
        11.2. Historical Market Size (USD Million) Analysis By Country, 2015-2019
                  11.2.1. U.S.A
                  11.2.2. Canada
                  11.2.3. Mexico
        11.3. Market Size (USD Million) Forecast for North America 2020-2027 
12. Latin America Market Analysis 2015–2019 and Forecast 2020–2027 (USD Million)
        12.1. Introduction
        12.2. Historical Market Size (USD Million) Analysis By Country, 2015-2019
                 12.2.1. Brazil
                 12.2.2. Venezuela
                 12.2.3. Argentina
                 12.2.4. Rest of Latin America
        12.3. Market Size (USD Million) Forecast for Latin America 2020-2027  
13. Europe Market Analysis 2015–2019 and Forecast 2020–2027 (USD Million)
        13.1. Introduction
        13.2. Historical Market Size (USD Million) Analysis By Country, 2015-2019
                  13.2.1. Germany
                  13.2.2. U.K
                  13.2.3. France
                  13.2.4. Italy
                  13.2.5. Spain
                  13.2.6. Russia
                  13.2.7. Poland
                  13.2.8. Rest of Europe
        13.3. Market Size (USD Million) Forecast for Europe 2020-2027
14. Asia Pacific Market Analysis 2015–2019 and Forecast 2020–2027 (USD Million)
        14.1. Introduction
        14.2. Historical Market Size (USD Million) Analysis By Country, 2015-2019
                  14.2.1. Japan
                  14.2.2. China
                  14.2.3. India
                  14.2.4. Australia and New Zealand
                  14.2.5. ASEAN
                  14.2.6. Rest of Asia Pacific
        14.3. Market Size (USD Million) Forecast for Asia Pacific 2020-2027
15. Middle East and Africa Market Analysis 2015–2019 and Forecast 2020–2027 (USD Million)
        15.1. Introduction
        15.2. Historical Market Size (USD Million) Analysis By Country, 2015-2019
                  15.2.1. Saudi Arabia
                  15.2.2. UAE
                  15.2.3. South Africa
                  15.2.4. Egypt
        15.3. Market Size (USD Million) Forecast for MEA 2020-2027           
16. Company Profiles (Competition Dashboard, Competitors Deep Dive, Product Connected Devices and Disease Indication Portfolio, Financial Layouts)
    16.1 Becton
            16.1.1. Company Overview (HQ, Business Segments, Employee Strength)
            16.1.2. Product Portfolio
            16.1.3. SWOT Analysis
            16.1.4. Financial Overview
            16.1.5. Strategic Overview
    16.2 Dickinson and Company
            16.2.1. Company Overview (HQ, Business Segments, Employee Strength)
            16.2.2. Product Portfolio
            16.2.3. SWOT Analysis
            16.2.4. Financial Overview
            16.2.5. Strategic Overview
    16.3 Novo Nordisk A/S
            16.3.1. Company Overview (HQ, Business Segments, Employee Strength)
            16.3.2. Product Portfolio
            16.3.3. SWOT Analysis
            16.3.4. Financial Overview
            16.3.5. Strategic Overview
    16.4 Ypsomed Holding AG
            16.4.1. Company Overview (HQ, Business Segments, Employee Strength)
            16.4.2. Product Portfolio
            16.4.3. SWOT Analysis
            16.4.4. Financial Overview
            16.4.5. Strategic Overview
    16.5 B. Braun Melsungen AG
            16.5.1. Company Overview (HQ, Business Segments, Employee Strength)
            16.5.2. Product Portfolio
            16.5.3. SWOT Analysis
            16.5.4. Financial Overview
            16.5.5. Strategic Overview
    16.6 HTL-STREFA S.A.
            16.6.1. Company Overview (HQ, Business Segments, Employee Strength)
            16.6.2. Product Portfolio
            16.6.3. SWOT Analysis
            16.6.4. Financial Overview
            16.6.5. Strategic Overview
    16.7 Terumo Corporation
            16.7.1. Company Overview (HQ, Business Segments, Employee Strength)
            16.7.2. Product Portfolio
            16.7.3. SWOT Analysis
            16.7.4. Financial Overview
            16.7.5. Strategic Overview
    16.8 Owen Mumford
            16.8.1. Company Overview (HQ, Business Segments, Employee Strength)
            16.8.2. Product Portfolio
            16.8.3. SWOT Analysis
            16.8.4. Financial Overview
            16.8.5. Strategic Overview
    16.9 Allison Medical, Inc.
            16.9.1. Company Overview (HQ, Business Segments, Employee Strength)
            16.9.2. Product Portfolio
            16.9.3. SWOT Analysis
            16.9.4. Financial Overview
            16.9.5. Strategic Overview
    16.10 UltiMed, Inc.
            16.10.1. Company Overview (HQ, Business Segments, Employee Strength)
            16.10.2. Product Portfolio
            16.10.3. SWOT Analysis
            16.10.4. Financial Overview
            16.10.5. Strategic Overview
17. FutureWise SME Key Takeaway Points for Client

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