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Pen Needles Market Trends

Report ID: GMI7247
Published Date: Nov 2023
Report Format: PDF

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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.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The global pen needles industry was valued at over USD 2.1 billion in 2022 and is estimated to reach around USD 6.1 billion by 2032, as diabetes, especially type 2 diabetes, is on the rise worldwide.

The insulin segment accounted for over 82% market share in 2022 and is anticipated to witness significant growth through 2032, owing to the advances in insulin formulation, such as fast-acting and long-acting insulin analogues, and tailored insulin regimens to meet the specific needs of patients.

North America pen needles market accounted for over USD 875 million in 2022 and is predicted to witness substantial growth through 2032, owing to the highest diabetes prevalence rate, along with the region being a hub for medical research and innovation.

Novo Nordisk A/S, Becton, Dickinson and Company, Terumo Corporation, Owen Mumford Ltd., Ypsomed, B. Braun Melsungen AG, HTL-STREFA, and UltiMed, Inc. among others.