Pen Needles Market Size, Share, Trends and Growth Revenue 2032

IMARC Group's report titled "Pen Needles Market Report by Type (Standard Pen Needles, Safety Pen Needles), Needle Length (4mm, 5mm, 6mm, 8mm, 10mm, 12mm), Therapy (Insulin, GLP-1, Growth Hormones), Mode of Purchase (Retail, Non-Retail), End User (Hospitals and Clinics, Home Healthcare, and Others), and Region 2024-2032". The global pen needles market size reached US$ 3.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 11.3 Billion by 2032, exhibiting a growth rate (CAGR) of 12.7% during 2024-2032.

For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/pen-needles-market/requestsample

Factors Affecting the Growth of the Pen Needles Industry:

• Increasing Prevalence of Diabetes:

As more people are diagnosed with diabetes, the need for insulin therapy to manage blood sugar levels is increasing. Insulin must often be administered multiple times daily, which boosts the demand for insulin delivery devices, including pen needles. With diabetes becoming more common in both developed and developing countries, the base population requiring regular insulin injections is expanding. This broadens the target market for pen needles, encouraging manufacturers to increase production and distribution.

• Technological Advancements:

Advancements in manufacturing are leading to the development of ultra-fine needles, which are thinner and shorter than traditional needles. These cause less pain upon insertion, making insulin therapy less daunting for patients, especially those who are needle-phobic or young children. Modern pen needles often include built-in safety features, such as retractable needles or shields, that prevent accidental needle sticks, a significant concern for healthcare providers and patients. These safety features enhance user confidence and adherence to prescribed insulin regimens.

• Growing Awareness and Education:

As awareness about the symptoms and risks of diabetes is increasing, more individuals are likely to seek medical advice and get diagnosed. Early diagnosis leads to earlier commencement of insulin therapy, which in turn increases the demand for pen needles. Education programs and awareness campaigns often focus on the importance of proper diabetes management, including the correct use of insulin pens and needles. Better educated patients are more likely to adhere to their treatment regimens, thus maintaining consistent demand for pen needles.

Leading Companies Operating in the Global Pen Needles Industry:

• Menarini Diagnostics srl
• Advancare Pharma
• Arkray Inc.
• Braun Melsungen AG
• Becton Dickinson and Company
• Hindustan Syringes & Medical Devices Ltd.
• HTL Strefa SA
• Novo Nordisk A/S
• Owen Mumford Ltd.
• Simple Diagnostics
• Trividia Health Inc. (Sinocare)
• Ultimed Inc

Pen Needles Market Report Segmentation:

By Type:

• Standard Pen Needles
• Safety Pen Needles

Standard pen needles represent the largest segment due to their utilization by a broad user base due to their affordability and widespread compatibility with various insulin pens.

By Needle Length:

• 4mm
• 5mm
• 6mm
• 8mm
• 10mm
• 12mm

8mm accounts for the majority of the market share as the 8mm needle length strikes a balance between ease of insertion and minimal discomfort, making it a popular choice among patients of varying body types.

By Therapy:

• Insulin
• GLP-1
• Growth Hormones

Insulin exhibits a clear dominance in the market owing to its employment for managing both Type 1 and Type 2 diabetes, leading to a higher demand for pen needles designed for insulin administration.

By Mode of Purchase:

• Retail
• Non-Retail

Retail holds the biggest market share driven by its accessibility to consumers, offering convenience and immediate availability of pen needles for regular insulin therapy.

By End User:

• Hospitals and Clinics
• Home Healthcare
• Others

Hospitals and clinics dominate the market. Hospitals and clinics are primary centers for diabetes diagnosis, management, and education, resulting in higher usage and purchasing of pen needles.

Regional Insights:

• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

Europe enjoys the leading position in the pen needles market on account of its robust healthcare infrastructure, high awareness about diabetes care, and strong presence of leading pen needle manufacturers contribute to its leading position in the market.

Global Pen Needles Market Trends:

Smart pen needles, which can record the time and dose of insulin administered and interface with digital devices to track patient data, are becoming more popular. This integration with digital health records and patient management systems aids in better diabetes management.

Patients are opting for shorter and thinner needles to reduce pain and discomfort associated with insulin injections. This is leading to a rise in the demand for 4mm and 6mm lengths, which are less intimidating and just as effective for patients of all sizes.

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the companys expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

Contact Us:

IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: [email protected]
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163