The Global Pen Needles Market size was valued at USD 2.7 Billion in 2022 and is anticipated to expand at a compound annual growth rate (CAGR) of 12.1% from 2023 to 2030.

Pen Needles Market Overview:

Injectable medications are put into the body with the help of pen needles and injection pens. The injection pens, which come in different sizes and lengths, are connected to a hollow needle with a plastic hub. The traditional way of giving drugs is with a vial and a syringe, but you can also use an injection pen and a pen needle. During the forecast period, the global pen needle market is expected to grow. This is because more people are getting sick, especially with diabetes and other diseases.

Since the number of people with diabetes is going up, there is more demand for pen needles. The International Diabetes Federation (IDF) says that by 2040, 642 million people will have diabetes. With more people getting diabetes, the target market is expected to keep growing over the next few years. People with diabetes often use these products to inject insulin or any other injectable medicine. People who are overweight are more likely to get diabetes.

Diabetes.co.uk says that 80–85% of the risk of getting diabetes is due to being overweight. Insulin pens are the easiest and fastest way to give an injection of a drug. Pen needles are in high demand because the number of people with diabetes who need insulin pens is growing. When used with insulin pens, these tools help the patient get the right amount of medicine. It is also expected that technological improvements in the different kinds of products will help the industry grow. When it comes to needle length, companies are focusing on making new products.

For example, Novo Nordisk announced that NovoFine Plus, which has the shortest and thinnest needle in the U.S., is now on the market. Shorter pen needles are easy for everyone to use, even people who are overweight. People think that insulin pens with needles are a better way to get drugs into the body than syringes and vials. Traditional syringes are big and make it hard to give yourself medicine. But pen needles have sharp tips that make it easy to get into the muscle of the patient. The safety of giving insulin to diabetic patients is also improved by these needles.

Market Dynamics

Drivers: Growing prevalence of chronic diseases

In the last few years, the number of people with chronic diseases has grown by a lot. Diabetes, osteoporosis, cardiovascular disease (CVD), and multiple sclerosis are some of the diseases that require daily or weekly drug injections, usually with pens. In a market that is growing quickly, pen injectors have become the new standard for giving drugs by injection. Their popularity has gone through the roof because they are easy to use, reliable, and can be given by the patient without the help of a doctor. The pen needle, which can be taken off and put back on, is an important part of the pen injector. To make sure the medicine gets to the right place, the length and sharpness of the needle are very important. So, because chronic diseases are becoming more common, more attention is being paid to pen needle technologies in order to handle the growing number of patients and get them to stick with their treatments.

Restraints: Preference for alternative modes of drug delivery

Pen needles are a quick and easy way to give drugs, but they can also cause needlestick injuries, infections, high blood sugar, and pain. Some people who use insulin pens end up with high blood sugar because the dose can't be controlled. So, in Europe, people with diabetes are now being treated with insulin pumps instead of insulin pens. This is because insulin pumps can automatically suspend insulin and lower the risk of low blood sugar. This is one of the main things that keeps the market from growing. Even though needle-free drug delivery technologies have helped in some ways, they can only be used in a limited number of therapeutic areas.

Opportunities: Growing preference for biosimilar drugs

In 2006, many drug companies, such as Sandoz (Germany), Teva Pharmaceutical Industries Ltd. (Israel), and JCR Pharmaceuticals Co., Ltd., started making biosimilars (Japan). Demand for biosimilars has gone up a lot because they are less expensive than their patented counterparts. Biosimilars will also be in demand because the patents on many biological molecules are about to run out.

Biosimilars and generics are so good that even insurance companies and governments like to use them. For example, CVS Caremark, a major US prescription insurance company, has replaced branded injectable drugs like Lantus by Sanofi and EpiPen by Mylan with their biosimilars, Basaglar by Eli Lilly (which comes in an injection pen) and Adrenaclick by Amedra Pharmaceuticals (which comes in an autoinjector). Since Basaglar is given with a pen injector, this is good for the pen needles market. Many other injectable drugs are also given with pens. Because of this, and the fact that more people are choosing biosimilar drugs and that governments and insurance companies are supporting them, this market has a lot of room to grow.

Challenges: Reuse in pen needles

In some parts of the world, it is common for people to use the same pen needles more than once. The number of people who reuse their needles ranges from as low as 30% to a shocking 95%. A study in the Value Health Journal found that about 98.35% of patients in China reuse insulin pen needles.

Most of the time, this is because they can't afford it, they don't get reimbursed (or don't get reimbursed at all) in many developing countries, or it's just easier not to. Reusing pen needles is a big problem for market growth because it cuts down on the need for new needles. Also, a study done by the Moscow Regional Research Clinical Institute found that used pen needles had bacteria on them and that the number of bacteria on the needles grew with each use. Reusing a pen needle can cause problems like poor control of blood sugar, infection, and lipohypertrophy. This shows that there are safety concerns with needle reuse.

Segment Analysis

The global pen needle market is split up into different groups based on type, needle length, therapy, how they are bought, and where they are sold. It is split into standard pen needles and safety pen needles based on the type. It is divided into 4mm, 5mm, 6mm, 8mm, 10mm, and 12mm based on how long the needle is. Based on how it is treated with drugs, it can be put into three groups: insulin, GLP-1, and growth hormones. It is split into retail and non-retail based on how it is sold. It is looked at from a geographical point of view in North America, Europe, Asia-Pacific, South America, and LAMEA. Further analysis of the regions at the country level is given to figure out the market size and forecast for each market segment and sub-segment in different countries around the world.

Regional Insights

Europe is expected to account for the largest share of the pen needles market in 2020

In 2021, Europe had about 39% of the world's market revenue. This was because the target disease was becoming more common in Europe. The large market share is because there are a lot of patients and the prices of the products are high. Advanced devices are being used more in the region because patients are becoming more aware of them and because reimbursement policies are getting better. The demand is also likely to grow because people in the region are becoming less active and more overweight. Also, the government of the U.K. is taking steps to invest in diabetes care and research in order to improve how diabetic patients are treated. During the forecast period, the Asia-Pacific area is expected to grow at a good rate. The number of people with diabetes, obesity, and other lifestyle-related diseases is rising all the time.

The latest pen needles aren't used as much as they could be because people don't know about them and because they can't get insurance or reimbursements from the government. But more people in this area have diabetes than anywhere else in the world. The big players in the market are focusing on making options that are affordable, which will help more people use advanced treatments. Prices might go down if things are made locally and the government helps out. One thing that makes this region more appealing to global players is the rise in medical tourism. The market is likely to grow because more international healthcare service provider franchises and private insurance companies are getting into the market.

Scope Analysis

Competitive Analysis

To meet the needs of diabetic patients that aren't being met, the major companies are working on new products by introducing better technology, expanding into new regions, and merging with other companies. To meet the growing needs of patients, other steps are being taken, such as the creation of new products. Some of the most important companies in the world market for pen needles are: Becton, Dickinson and Company, Novo Nordisk, Ulticare, Ypsomed Holding AG, B. Braun Melsungen AG, Terumo Corporation, Owen Mumford Ltd., Allison Medical, Cambridge Sensors

Recent Development

• In February 2021, Ulticare safety pen needles are launched in two sizes, 5mm 30G and 8mm 30 G launched by UltiMed Inc. (US).
• In October 2020, Arkray Inc. (Japan) launched TechLITE Pen Needles which are now indicated for use with pen injector devices for the subcutaneous injection of drugs in the US.
• In January 2019, Becton, Dickinson and Company (US) launched Second Generation Standard Pen Needles.
• In August 2018, Arkray Inc. (Japan) launched Assure ID safety pen needles.

Market Segmentation

By Product Type

• Standard pen needles
• Safety pen needles

By Length

• 4mm
• 5mm
• 6mm
• 8mm
• 10mm
• 12mm

By Therapy

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

By Mode Of Purchase

• Retail
• Non-Retail

By Companies

• BectonDickinson and Company (US)
• Novo Nordisk A/S (Denmark)
• Ypsomed Holding AG (Switzerland)
• Braun Melsungen AG (Germany)
• Owen Mumford (UK)
• Terumo Corporation (Japan)
• Nipro Corporation (Japan)
• Allison Medical (US)
• AdvaCare Pharma (US)
• Berpu Medical Technology (China)
• ARKRAY (Japan)
• GlucoRx (UK)
• HTL-STREFA (Poland)
• UltiMed(US)
• Hindustan Syringes and Medical Devices (India)
• Artsana Group (Italy)
• PromiseMed Diabetes Care (Canada)
• Montmed (Canada)
• Trividia Health (US)
• VOGT Medical Vertrieb (Germany)
• Van Heek Medical (Netherlands)
• Simple Diagnostics (US)
• Iyon (Turkey)
• Links Medical Products (US)
• MHC Medical Products (US)