How Has the Pen Needles Market Size Evolved in Recent Years?
The pen needles market has seen considerable growth due to a variety of factors.
• The pen needles market has seen rapid growth in recent years. It is expected to grow from $2.42 billion in 2024 to $2.71 billion in 2025, with a compound annual growth rate (CAGR) of 12.0%.
This growth is attributed to the development of insulin pens, advancements in miniaturization technology, a focus on patient convenience, improved needle designs, and the implementation of safety features.
What Are The Predictions for The Pen Needles Market in the Coming Years?
The pen needles market is expected to maintain its strong growth trajectory in upcoming years.
• The pen needles market is projected to grow to $4.21 billion by 2029, expanding at a CAGR of 11.6%.
This growth is attributed to compatibility with various insulin pens, customization options, material innovations, digital health integration, and regulatory standards. Notable trends include user-friendly designs, improved needle coatings, eco-friendly materials, and smart technology integration.
Which Drivers Are Accelerating Growth In The Pen Needles Market?
The anticipated rise in diabetes cases is projected to spur the pen needles market's expansion. Diabetes is a chronic health condition characterized by elevated blood sugar levels due to insufficient insulin production or ineffective insulin use by the body. The escalating incidence of diabetes is linked to a variety of factors including inactive lifestyles, poor dietary habits, genetic susceptibility, urban growth, and an aging population. These factors are exacerbated by restricted healthcare access and growing global obesity rates. Pen needles serve a crucial role in managing diabetes, promoting accurate insulin distribution through easy, minimally invasive injections while facilitating improved glycemic management and boosting patient adherence. For example, the Belgium-based International Diabetes Federation estimated in 2021 that the number of individuals living with diabetes is predicted to reach 643 million by 2030 and 783 million by 2045. As a result, the rising incidence of diabetes is contributing to the growth of the pen needles market.
What Are The Core Segments Of The Global Pen Needles Market?
The pen needles market covered in this report is segmented –
1) By Type: Standard Pen Needles, Safety Pen Needles
2) By Needle Length: Short Length Pen Needles, Medium Length Pen Needles, Long Length Pen Needles
3) By Therapy: Insulin, Glucagon-like-Peptide-1 (GLP-1), Growth Hormone
4) Mode Of Purchase: Retail, Non-Retail
5) By End User: Hospitals And Clinics, Home Healthcare, Other End Users
Subsegments:
1) By Standard Pen Needles: Fixed-Needle Pen Needles, Removable-Needle Pen Needles, Short Pen Needles ( 4mm, 5mm), Long Pen Needles ( 8mm, 12mm)
2) By Safety Pen Needles: Automatic Safety Pen Needles, Manual Safety Pen Needles, Retractable Safety Pen Needles, Shielded Safety Pen Needles
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What Emerging Trends Are Influencing The Growth Of The Pen Needles Market?
Leading companies in the pen needle market are investing in the creation of innovative technologies such as thin-wall technology to decrease the pressure required for injections. Thin-wall technology allows for an enlarged internal diameter in the needle, ensuring a faster flow of medication and less injection pressure, thereby enhancing the comfort of the patient. Take for example, Roche Diabetes Care Ltd. from Switzerland, who in May 2022, unveiled their ACCU-FINE pen needles, specially designed for near painless insulin application. These needles have a unique cut for gentle penetration and a special coating that allows smooth entry into the skin, thus reducing discomfort during injections. Plus, the thin-wall design allows faster flow of insulin, guaranteeing effective medication delivery. Each needle includes two protective covers - a sealed sterile protective cap, and an additional cap for secure handling and storage. Versatility is another advantage of ACCU-FINE needles, as they are compatible with all standard insulin pens, catering to a wide range of users with varied insulin delivery devices.
Who Are the Key Players In The Pen Needles Market?
Major companies operating in the pen needles market are:
• Cardinal Health Inc.
• Novartis AG
• F. Hoffmann-La Roche AG
• Novo Nordisk AS
• Becton
• Dickinson and Company
• B. Braun Melsungen AG
• Terumo Corporation
• Nipro Corporation
• Artsana Group
• Embecta Corp.
• Tandem Diabetes Care Inc.
• Trividia Health Inc.
• Medical Technology and Devices S.p.A.
• Owen Mumford
• Dynarex Corporation
• Arkray Inc.
• UltiMed Inc.
• Montmed Inc.
• Bio-Med HealthCare Products Pvt. Ltd.
• Allison Medical Inc.
• GlucoRx Ltd.
• Simple Diagnostics Inc.
• Stat Medical Inc.
• HTL-STREFA S.A.
• Hindustan Syringes & Medical Devices Ltd.
What Are The Regional Insights Into The Pen Needles Market?
North America was the largest region in the pen needles market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pen needles market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
