Pen Needles Market - By Product (Standard, Safety), By Application (Insulin, {GLP-1}, Growth Hormone), By Length (4 mm, 5mm, 6mm, 8mm, 10mm, 12mm), By Distribution Channel (Hospital, Retail), By End-use, Global Forecast, 2023-2032

Pen Needles Market Size

Pen Needles Market size was valued at over USD 2.1 billion in 2022 and is estimated to reach around USD 6.1 billion by 2032. Diabetes, especially type 2 diabetes, is on the rise worldwide. As more individuals are diagnosed with diabetes, there is a higher demand for insulin delivery devices such as pen needles, which are an essential component for administering insulin via subcutaneous injections.
 

For instance, according to National Diabetes Statistics Report for 2022, diabetes affected 37.3 million individuals, or 11.3% of the population in the U.S. and it has been diagnosed in an estimated 28.7 million people. In addition, according to Centers for Disease Control and Prevention (CDC), over 37 million Americans have diabetes, with around 90-95% of them having type 2 diabetes. Type 2 diabetes is most common in people over the age of 45, although it is also growing more prevalent in children, teenagers, and young adults.
 

Moreover, improved awareness of diabetes, its risk factors, and advancements in diagnostic methods have led to more individuals being diagnosed with the condition. The diagnosis of diabetes often necessitates the use of insulin and, by extension, pen needles. Pen needles are small, disposable, and fine-gauge needle designed to attach to insulin pens and similar devices for subcutaneous injections. It is primarily used for the administration of insulin by individuals with diabetes or other medical conditions requiring injectable therapies.
 

COVID-19 Impact

The COVID-19 pandemic had a slightly negative impact on the pen needles market. The pandemic disrupted the supply chain management of numerous medical devices including pen needles since considerable percentage of the raw materials and components required for manufacturing the products are made in China and other pandemic-affected nations. This created pen needle scarcity in certain regions, resulting in price rise. Furthermore, it caused many people to delay or cancel non-essential medical appointments, which led to a decrease in demand for pen needles. However, once the number of virus-related cases started declining, there was a positive growth for product demand, and it reached the pre pandemic levels in a shorter time span.
 

Pen Needles Market Trends

The market is experiencing several notable trends that are shaping its growth and development in the upward trajectory. Factors such as growing advancements in needle technology, increasing demand for needles with safety features, and rising integration of pen needle usage into telemedicine and remote patient monitoring services.
 

• Pen needle manufacturers are continuously focusing to improve the design and technology of their products. This includes sharper and shorter needles, improved safety measures, and user-friendly designs for improved patient comfort and convenience.
   
• Moreover, safety is among the most significant concern in healthcare and hence pen needles with built-in safety features, such as needle shields or mechanisms to prevent accidental needlestick injuries, are gaining popularity. These features provide added peace of mind for both patients and healthcare professionals.
   

Pen Needles Market Analysis

The market by product is categorized into standard pen needles and safety pen needles. The standard pen needles segment garnered around USD 1.8 billion revenue in 2022.
 

• Standard pen needles provide an easy and user-friendly technique for administering insulin. They are frequently preferred by diabetic patients owing to their simplicity and convenience of usage, particularly when compared to traditional vial and syringe systems.
   
• Furthermore, as the global population continues to age, there is an increased risk of developing diabetes and other conditions requiring injectable therapies. This demographic factor contributes to the sustained demand for standard pen needles.
   

Based on application, the pen needles market is segmented into insulin, glucagon-like-peptide-1 (GLP-1), growth hormone, and other applications. The insulin segment accounted for over 82% business share in 2022 and is anticipated to witness significant growth during the forecast period.
 

• Advances in insulin formulation have culminated in enhanced diabetes control alternatives. Fast-acting and long-acting insulin analogues, for example, provide patients with greater flexibility and convenience in their medication regimes.
   
• Moreover, healthcare providers are increasingly tailoring insulin regimens to meet the specific needs of patients, including their lifestyle and glucose management goals. This has led to more individualized insulin prescriptions, contributing to increased demand.
   

Based on length, the pen needles market is segmented into 4 mm, 5 mm, 6 mm, 8 mm, 10 mm, and 12 mm. The 8 mm segment accounted for over 29% business share in 2022.
 

• Longer pen needles, such as 8 mm, can be more comfortable for some patients, especially those with a higher percentage of body fat. These needles are less likely to penetrate into muscle tissue, which can lead to less discomfort during injections.
   
• Additionally, for individuals with a higher body fat percentage, particularly in the abdomen or thigh area, longer needles may be necessary to reach the subcutaneous tissue where insulin is most effectively absorbed. The choice of 8 mm needles helps ensure proper insulin delivery in these cases.
   

The pen needles market by distribution channel is categorized into hospital pharmacies, retail pharmacies, and online channels. The retail pharmacies segment accounted for around USD 1.2 billion revenue size in 2022.
 

• Retail pharmacies are conveniently located in communities, making them easily accessible to individuals with diabetes or other medical conditions requiring pen needles. Patients can visit their local retail pharmacy to purchase pen needles without the need for a prescription in many cases.
   
• In addition, while some pen needles are available over the counter, others may require a prescription. Retail pharmacies can dispense pen needles prescribed by healthcare providers, ensuring that patients have a consistent supply of the appropriate pen needles for their specific insulin regimen.
   

Based on end-use, the pen needles market is segmented into hospitals and clinics, home care settings, and other end-use. The home care settings segment dominated the market and is anticipated to reach around USD 3 billion by 2032.
 

• The rise of telehealth and remote patient monitoring during the COVID-19 pandemic has made it easier for healthcare providers to guide and support patients in home care settings. Patients can receive remote consultations and education on pen needle usage, and all such factors further enhances the digital diabetes management.
   
• Home care settings provide the ultimate convenience for patients. They can administer insulin or other injectable medications without the need to travel to a healthcare facility, saving time and reducing the inconvenience associated with clinic visits.
   
• Additionally, patients often find the home environment more comfortable and familiar for administering injections. This setting can reduce anxiety and stress related to medical procedures, enhancing patient comfort, leading to the segment progress.
   

North America pen needles market accounted for over USD 875 million revenue in 2022 and is predicted to witness substantial market growth over the analysis timeline.
 

• North America has one of the highest diabetes prevalence rates globally, with a significant number of individuals living with diabetes. This high disease burden drives the demand for insulin, making pen needles a crucial part of diabetes management.
   
• Furthermore, the region is a hub for medical research and innovation. Technological advancements in pen needle design and manufacturing are common, leading to the availability of user-friendly, safe, and efficient pen needles for patients.
   
• In addition, the majority of the population in North America has access to health insurance, which often covers diabetes management supplies, including pen needles. This insurance coverage reduces financial barriers to obtaining pen needles. Thus, all such variables are expected to fuel the product demand in the region.
   

Pen Needles Market Share

The pen needles industry is fragmented in nature, with a large number of small and medium-sized companies competing with each other. However, some of the key players that are focusing on improving their market share are Novo Nordisk A/S, Becton, Dickinson and Company, and Terumo Corporation that hold a notable share in the market. These companies are diligently directing their efforts towards continuous product innovation to gain substantial market share.
 

Some of the eminent market participants operating in the pen needles industry include:

• Novo Nordisk A/S
• Becton, Dickinson and Company.
• Terumo Corporation
• Owen Mumford Ltd.
• Ypsomed
• B. Braun Melsungen AG
• HTL-STREFA
• UltiMed, Inc.
• MEDISEC Healthcare
• Vitrex Medical A/S
• Allison Medical, Inc.
• Embecta Corp.

Pen Needles Industry News:

• In September 2022, Terumo India recently launched FineGlide, a sterile pen needle for patients who require regular insulin injections or other self-medication. FineGlide is a three-bevel ultra sharp needle with a high-grade silicone surface that is mild and more comfortable for patients.
   
• In January 2019, BD (Becton, Dickinson and Company) announced the FDA approval of their second-generation BD Nano pen needle, which is designed for more consistent subcutaneous injection depth. This pen needles provide individuals who inject diabetic drugs with a more regular subcutaneous administration of their prescription, allowing them to treat the condition more effectively.
   

Pen needles market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and volume (Units) from 2018 to 2032 for the following segments:

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By Product, 2018-2032 (USD Million & Units)

• Standard pen needles
• Safety pen needles

By Application, 2018-2032 (USD Million)

• Insulin
• Glucagon-like-Peptide-1 (GLP-1)
• Growth hormone
• Other applications

By Length, 2018-2032 (USD Million & Units)

• 4 mm
• 5 mm
• 6 mm
• 8 mm
• 10 mm
• 12 mm

By Distribution Channel, 2018-2032 (USD Million)

• Hospital pharmacies
• Retail pharmacies
• Online channels

By End-use, 2018-2032 (USD Million)

• Hospitals and clinics
• Home care settings
• Other end-users

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East & Africa
  • Saudi Arabia
  • South Africa
  • UAE
  • Rest of Middle East & Africa