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Pen Needles Market: Rising Demand, Technological Innovations, and Market Trends in Pen Needle Devices | BD (Becton,  Dickinson and Company), Novo Nordisk A/S, Ypsomed AG, Owen Mumford Ltd., UltiMed Inc., HTL-STREFA S.A., Terumo Corporation

Global “Pen Needles Market” is an exploration report with meticulous efforts undertaken to study the right and valuable information. The data which has been looked upon is done considering both, the existing top players and the upcoming competitors. These bits of knowledge offered in the Pen Needles Market report would benefit request players to define systems for the future and gain a solid situation in the worldwide market request development. Other than this, the specialists have profoundly contemplated distinctive geological regions and introduced a serious situation to help new rivals, driving business sector players and fiscal backers to decide arising economies.

This report on the Pen Needles Market study considers important factors such as an analysis of the market, a definition of the market, segmentation, significant trends in the industry, an examination of the competitive landscape, and research methodology. The research provides an idea about various market inhibitors as well as market motivators in both a quantitative and qualitative approach with the purpose of providing users with accurate information.

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What`s New for 2023?

  • Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies – Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to digital archives and Research Platform
  • Complimentary updates for one year

The Major Players Covered in Pen Needles Market: BD (Becton,  Dickinson and Company), Novo Nordisk A/S, Ypsomed AG, Owen Mumford Ltd., UltiMed Inc., HTL-STREFA S.A., Terumo Corporation, Allison Medical Inc., B. Braun Melsungen AG, ARKRAY Inc.

Cataloging the Competitive Terrain of the Pen Needles Market:

  • The report provides an overview of every manufacturers and the products developed by each manufacturer along with the application scope of every product.
  • Data regarding the market share of every company, as well as sales figures concerning each firm, is stated in the report.
  • Details regarding the profit margins and price patterns have been inculcated in the report.

Industry Development: 

  • BD (Becton, Dickinson and Company) launched the BD Nano™ Ultra-Fine™ pen needle in 2021, featuring a 4 mm needle length for enhanced patient comfort and reliable insulin delivery.
  • Novo Nordisk A/S introduced the NovoFine® Plus pen needle with an integrated needle remover in 2020, providing convenience and safety for patients during needle disposal.
  • Ypsomed AG developed the UnoPen™, an insulin pen system with a built-in pen needle, in 2021, offering a compact and user-friendly solution for insulin administration.
  • Owen Mumford Ltd. launched the Unifine® Pentips Plus pen needle in 2020, featuring an extended barrel to facilitate easier handling and improved accuracy during injections.
  • UltiMed, Inc. introduced the UltiGuard® Safe Pack, a combination of a pen needle dispenser and a sharps container, in 2021, promoting safe needle disposal for patients with diabetes.

Pen Needles Market Dynamics:

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Growth Drivers:

  • Increasing prevalence of diabetes worldwide, driving the demand for insulin pens and pen needles for self-administration of insulin.
  • Technological advancements in pen needle design, such as shorter and thinner needles, enhanced safety features, and needle integration with pen devices, improving patient comfort and convenience.
  • Growing awareness about the benefits of pen needle use, such as accurate dosing, reduced pain, and improved adherence to insulin therapy, among patients with diabetes.
  • Rising adoption of insulin therapy as a preferred method for diabetes management, fueling the demand for pen needles in healthcare settings and homecare.
  • Favorable reimbursement policies for diabetes management devices and supplies, including pen needles, supporting the market growth.

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Segmentation Analysis of the Market:

Global Pen Needles Market forecast report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market. Global Pen Needles Market segments and Market Data Break Down are illuminated.

Gauge:

    • 30G
    • 31G
    • 32G
    • Others

Therapy Type:

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

Distribution Channel:

    • Retail Pharmacies
    • Online Pharmacies
    • Diabetes Clinics and Centers
    • Others

Pen Needles Market Regional Analysis: 

Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth Rate of Pen Needles in these regions, covering

•North America (USA, Canada and Mexico)
•Europe (UK, Germany, France and the Rest of Europe)
•Asia Pacific (China, Japan, India, and the Rest of the Asia Pacific region)
•South America (Brazil, Argentina and the Rest of South America)
•Middle East and Africa (GCC and Rest of the Middle East and Africa)

** Note – This report sample includes:

  • Scope For 2024
  • Brief Introduction to the research report.
  • Table of Contents (Scope covered as a part of the study)
  • Top players in the market
  • Research framework (structure of the report)
  • Research methodology adopted by The Market Insights

The Global Pen Needles Market Industry Report Covers The Following Data Points:

𝐒𝐞𝐜𝐭𝐢𝐨𝐧 𝟏: This section covers the global Market overview, including the basic market introduction, market analysis by its applications, type, and regions. The major regions of the global Market industry include North America, Europe, Asia-Pacific, and the Middle-East and Africa. Pen Needles Market industry statistics and outlook are presented in this section. Market dynamics states the opportunities, key driving forces, market risk are studied.

𝐒𝐞𝐜𝐭𝐢𝐨𝐧 𝟐: This section covers Market manufacturers profile based on their business overview, product type, and application. Also, the sales volume, market product price, gross margin analysis, and share of each player is profiled in this report.

𝐒𝐞𝐜𝐭𝐢𝐨𝐧 𝟑 𝐚𝐧𝐝 𝐒𝐞𝐜𝐭𝐢𝐨𝐧 𝟒: These sections present the market competition based on sales, profits, and market division of each manufacturer. It also covers the industry scenario based on regional conditions.

𝐒𝐞𝐜𝐭𝐢𝐨𝐧 𝟓 𝐚𝐧𝐝 𝐒𝐞𝐜𝐭𝐢𝐨𝐧 𝟔: These sections provide forecast information related to Pen Needles Market for each region. The sales channels include direct and indirect Marketing, traders, distributors, and development trends are presented in this report.

𝐒𝐞𝐜𝐭𝐢𝐨𝐧 𝟕 𝐚𝐧𝐝 𝐒𝐞𝐜𝐭𝐢𝐨𝐧 𝟖: In these sections, Industry key research conclusions and outcome, analysis methodology, and data sources are covered.

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The analyst presents a detailed picture of the market by the way of study, synthesis and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable and a result of extensive research – both primary and secondary. TMI provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.

What makes the information worth buying?

• A comprehensive and in-depth overview of the global Pen Needles industry in exchange, use, and geographical area sectors is provided.

• This research looks at the industry rewards and constraints that influence industry growth.

• Developing business strategies and aspects to aid in an emerging market.

• Examining free markets and developing appropriate strategies.

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Pen Needles Market Analysis–Industry Specific Opportunities and Trends Affecting the Growth

Acne Market

New York, Global Pen Needles Market was valued at USD 1.2 billion in 2021 and it is anticipated to grow up to USD 5.2 billion by 2031, at a CAGR of 15.8% during the forecast period.

The global pen needles market report from Global Insight Services is the single authoritative source of intelligence on Pen Needles Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

Pen needles use injection pens to deliver injectable medications into the body. These devices contain a hollow needle with a plastic hub attached to the injection pens, which are of varying lengths and diameter. Injection pen and pen needles are an alternative drug delivery method to the traditional vial/syringe method.

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Market Trends and Drivers

Growing prevalence of chronic diseases will positively impact the market growth. The prevalence of chronic diseases has increased significantly in the last few years. Such diseases-including diabetes, osteoporosis, cardiovascular disease (CVD), and multiple sclerosis-require daily or weekly drug administration, typically using pen injectors. In the rapidly growing market, pen injectors have become the new standard for injectable drug delivery systems. Their popularity has soared due to their simplicity, reliability, and ability to be administered directly by the patient without the aid of a physician. The pen needle, a removable attachment, forms an integral part of the pen injector. The length of the needle and its sharpness is critical to ensure that the medication reaches the target tissues. Thus, the growing prevalence of chronic diseases has led to a greater focus on pen needle technologies to effectively handle the growing patient pool and increase patient compliance with therapies.

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Global Pen Needles Market Segmental Overview

The report analyses the global pen needles market based on product, needle length, therapy, and region.

Global Pen Needles Market by Product

Based on product, it is segmented into standard pen needles and safety pen needles. Among these, the standard pen needles segment accounted for significant market share in 2021. The growth was attributed to the daily usage of these products for larger dosages by diabetic patients. People suffering from dexterity problems commonly use these needles. However, these needles are not preferred since there is a high risk of causing needlestick injuries, which hampers the safe applicability of pen needles. Hence, they are expected to have low demand in the near future. Standard pen needles are used more in home settings. Lack of proper training on the appropriate usage of these devices leads to improper doses and subsequent complications.

Global Pen Needles Market by Needle Length

Based on needle length, it is segmented into 4 mm, 5 mm, 6 mm, 8 mm, 10 mm and 12 mm. Among them, the 8 mm segment is expected to experience the fastest growth rate during the forecast period. These types of needles are most commonly prescribed to all patients including overweight patients suffering from the target disease. Safety, user convenience, and easy disposal are some of the features of 8mm needles, which lead to their preference in home settings. The easy availability and affordability are among the other factors expected to support the segment growth. Owing to their larger size, the needles are easy and safe to dispose of, with minimum chances of needlestick injury. Moreover, these are easy to separate from other sharp waste, and thus, are recommended.

Global Pen Needles Market by Therapy

Based on therapy, it is segmented into insulin, glucagon-like-peptide-1 (GLP-1), growth hormone. Among them, glucagon-like-peptide-1 (GLP-1) segment is expected to experience the fastest growth rate during the forecast period. This is due to its capability to minimize the blood glucose level among patients suffering from type 2 diabetes. GLP-1 therapy is looked at as a better alternative for insulin. Some of these drugs are generally taken on a weekly basis. This reduces the number of injections and increases patient convenience. Dulaglutide, Exenatide (extended-release), and Semaglutide are some of the GLP-1 drugs that are taken once weekly. Along with blood sugar control, these help with weight loss, which is of high importance in diabetes patients. Thus, aforementioned aspects will propel the segmental growth.

Geographical Analysis of Global Pen Needles Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. Europe held the largest share in the market largely due to the on account of the rising prevalence of the target disease in this region. High patient volume and high product prices are the factors contributing to the large market share. Increasing patient awareness and favorable reimbursement scenarios across the region are aiding the adoption of advanced devices. A sedentary lifestyle and rising obesity rates in the region are also expected to fuel the demand. Moreover, the U.K. government is also taking initiatives to invest in diabetes care and research to improve treatment techniques for diabetic patients. Such factors will augment the regional market growth.

Major Players in the Global Pen Needles Market

The key players in the market are 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), and Berpu Medical Technology (China), among others.

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Pen Needles Market 2020 Analysis by Global Manufacturers – BD, HTL-Strefa, B. Braun, Novo Nordisk, Owen Mumford, Artsana, Kangdelai

The Pen Needles Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

The global Pen Needles market size is expected to gain market growth in the forecast period of 2020 to 2025, with a CAGR of 4.6% in the forecast period of 2020 to 2025 and will expected to reach USD 2075.1 million by 2025, from USD 1733.9 million in 2019.

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Top Leading Companies of Global Pen Needles Market are BD, HTL-Strefa, B. Braun, Novo Nordisk, Owen Mumford, Artsana, Kangdelai, Ypsomed, Terumo, Beipu, Ulticare, Allison Medical, Dongbao and others.

This report focuses on Pen Needles volume and value at the global level, regional level and company level. From a global perspective, this report represents overall Pen Needles market size by analysing historical data and future prospect. Regionally, this report focuses on several key regions: North America, Europe, China and Japan etc.

On The Basis Of Product, The Pen Needles Market Is Primarily Split Into

Standard Insulin Pen Needles, Safety Insulin Pen Needles, etc.

On The Basis Of End Users/Application, This Report Covers

Home Use, Medical Institutions, Others, etc.

This allows understanding of the market and benefits from any lucrative opportunities that are available. Researchers have offered a comprehensive study of the existing market scenario while concentrating on the new business objectives. There is a detailed analysis of the change in customer requirements, customer preferences, and the vendor landscape of the overall market.

Furthermore, this study will help our clients solve the following issues:

Cyclical dynamics – We foresee dynamics of industries by using core analytical and unconventional market research approaches. Our clients use insights provided by us to maneuver themselves through market uncertainties and interferences.

Identifying key cannibalizes – Strong substitute of a product or service is the most important threat. Our clients can identify key cannibalizes of a market, by procuring our research. This helps them in aligning their new product development/launch strategies in advance.

Spotting emerging trends – The report help clients to spot upcoming hot market trends. We also track possible impact and disruptions which a market would witness by a particular emerging trend. Our proactive analysis help clients to have early mover advantage.

Interrelated opportunities – This report will allow clients to make decisions based on data, thereby increasing the chances that the strategies will perform better if not best in real world.

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Following are major Table of Content of Pen Needles Industry:

  • Pen Needles Market Sales Overview.
  • Pen Needles Market Sales Competition by Manufacturers.
  • Pen Needles Market Sales Analysis by Region.
  • Pen Needles Market Sales Analysis by Type.
  • Pen Needles Market Analysis by Application.
  • Pen Needles Market -Manufacturers Analysis.

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Pen Needles Market Analysis Key Trends, Growth Opportunities, Challenges, Key Players, End User, Demand and Forecasts To 2025

Global Pen Needles Market: Snapshot

The global market for pen needles has been growing alongside the propensity of the masses to self-inject drugs and other medications in the body. Pen needles are an advanced form of technology that can be used by the common masses and are often used in conjunction with insulin pens. The advent of pen needles has witnessed a decrease in the pressure on the medical fraternity to employ staff for injecting medical doses in patients. It is anticipated that the growth of self-care and self-medication trends across the world would give an impetus to the growth of the market for pen needles.

The most prominent driver of demand within the global market for pen needles is the rise in the number of people suffering from diabetes. Diabetics who require frequent injection of insulin in the body have found pen needles as an easy and viable option. Furthermore, the ease of usage of these needles along with their reasonable price has also given an impetus to market growth. Biodegradable pen needles are also in the pipeline, and this is expected to further elevate demand within the global market.

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The healthcare industry in North America has been steadfast in promoting and distributing pen needles to the masses. This has created growth spaces in the market for pen needles in North America where the patients are wary of the benefits and ease offered by these needles.

Global Pen Needles Market: Overview

The usage of pen needles in conjunction with that of insulin pens helps in accurate, fast, and convenient injection of drug deliveries for diabetic patients. Thus, the growing need for insulin pens is foretold to bode well for the global pen needles market. Moreover, the shorter length of pen needles makes it convenient to employ them for drug administration when treating patients suffering from almost any type of health problem including overweight.

Global Pen Needles Market: Key Trends

The target market for pen needles is anticipated to grow impressively in the coming years due to the rising diabetes population. By 2040, an approximate 642 mn people could suffer from diabetes, as per the statistics of the International Diabetes Federation (IDF). Products such as pen needles are used to administer injectable medications to diabetic patients. Since obesity could make people highly susceptible to diabetes, the growing size of obese population is expected increase the demand in the world pen needles market.

Vendors functioning in the world pen needles market are predicted to invite lucrative opportunities in the business in the event of significant technological advancements. Compared to conventional syringes and vials, pen needles allow enhanced drug delivery, easier penetration, and greater safety during drug administration. As a result, the demand in the world pen needles market could aggravate further.

Standard pen needles are prognosticated to suffer a slack in demand on account of concerns raised against their safe applicability. However, the rising awareness about the usage of pen needles in diabetic treatment and augmenting number of diabetic patients could support the growth of standard pen needles. Safety pen needles, on the other hand, are envisaged to offer some crucial opportunities in the world pen needles market. This could be because of their ability to minimize needlestick injuries and magnifying technological developments.

Global Pen Needles Market: Market Potential

The Ultra-Fine Nano 4mm x 32G Pen Needle by Becton, Dickinson and Company (BD) is claimed as a new and improved way of insulin injection in diabetic patients. However, the needle is also considered effective for all kinds of patients. The technology and design are expected to make a whole lot of difference in how patients feel during drug injection. With a smooth needle finish, needle glide, and injection comfort, the pen needle could be a breakthrough innovation in the medical devices industry. The proposed thinnest and shortest pen needle by BD is manufactured with the help of three technologies, viz. electro-polishing, micro-bonded lubrication, and PentaPoint technology.

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Global Pen Needles Market: Regional Outlook

A majority of research analysts study the Europe region to have dominated the international pen needles market in 2015, owing to a ballooning prevalence of the target disease diabetes. With a view to upgrade diabetic treatment techniques, ample of initiatives have been taken by the U.K. government to invest in diabetes research and care. Over the course of the forecast period 2017–2025, Asia Pacific is prophesied to register a significant growth in the international pen needles market. This could be due to the elevating awareness about the accessibility to cutting-edge technological devices for diabetes treatment.

Global Pen Needles Market: Competitive Landscape

Top players operating in the worldwide pen needles market are envisioned to focus on fulfilling the unmet needs in diabetic treatment through mergers and acquisitions, geographical expansion, and the advent of technological breakthroughs for new product development. Some of the dominant companies in the worldwide pen needles market could be Ypsomed, Owen Mumford Ltd., Terumo Corporation, BD, and Novo Nordisk A/S.

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