Global Pen Needles Market

Pen Needles Market Size, Share, Growth Analysis, By Type(Standard Pen Needles, and Safety Pen Needles), By Length(4mm, 5mm, 6mm, 8mm), By Application(Insulin Therapy, GLP-1 Therapy, Growth Hormone Therapy, Osteoporosis), By Mode Of Purchase(Prescription-based, Over the Counter, Online Purchase, and Other Modes of Purchase), By Setting(Homecare, Hospitals & Clinics, and other settings), By Region - Industry Forecast 2025-2032


Report ID: SQMIG35A2722 | Region: Global | Published Date: October, 2024
Pages: 165 | Tables: 88 | Figures: 76

Pen Needles Market Regional Insights

North America dominates the global pen needles market due to a high prevalence of diabetes, robust healthcare infrastructure, and greater adoption of advanced medical devices. This region experiences a growing demand for pen needles owing to the large healthcare expenditure and insurance coverage available, as well as government efforts to enhance the management of diabetes. In addition to this, increased awareness and education on diabetes self-care encourages the use of pen injectors, which further propels the market. North America-based major market players also encourage innovation by coming up with better and advanced pen needle models which improve comfort and compliance among patients. This entire well-established support system makes North America the dominant market for pen needles. 

Europe is the fastest-growing region in the global pen needles market, driven by rising diabetes incidence, expanding healthcare spending, and supportive government policies aimed at improving diabetes care. Rising understanding regarding diabetes management as well as the improvements in the availability of sophisticated pen needles augments the adoption rates in the region. In addition, the growing aging population in Europe, which is more susceptible to diabetes, is also driving the demand for convenient and safe injection methods. Developments within the local manufacturers and adherence to the strict European health and safety standard also help in the expansion. About patient comfort and ease of use, Europe is quickly developing to be the fastest growing region in the market. 

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Global Pen Needles Market size was valued at around USD 1.3 billion in 2022 and is expected to rise from USD 1.4 billion in 2023 to reach a value of USD 2.7 billion by 2031, at a CAGR of 8.9% over the forecast period (2024–2031).

The global pen needles market scenario is full of opportunities as there is intense competition along the rival companies – with the incidence of innovation, safety features adoption, and enhancement of the product lines to meet the demand saturation. The leading market participants are Becton Dickinson and Company, Novo Nordisk, Medtronic, Terumo Corporation among others. These firms are spending money on research and development of new needle systems, ensuring the safety of the users and ease of use of the needles. These companies are also actively enhancing in organic growth through strategic partnerships and acquisitions as well as regional growth, thereby expending the global pen needles market outlook and improving diabetes management around the globe.  'Becton, Dickinson, and Company (BD) ', 'Novo Nordisk A/S ', 'Ypsomed AG ', 'Owen Mumford Ltd ', 'Terumo Corporation ', 'HTL-STREFA S.A. ', 'Allison Medical, Inc. ', 'UltiMed, Inc. ', 'Artsana S.p.A. ', 'Trividia Health, Inc. ', 'MedExel Co., Ltd. ', 'Haselmeier GmbH ', 'Delfu Medical Device Co., Ltd. ', 'Shanghai Neo-Medical Co., Ltd. ', 'Henso Medical (Hangzhou) Co., Ltd. '

The global pen needles market is emerging due to growing diabetes population as more people are in need of efficient, convenient methods of insulin delivery. Due to the growing number of such chronic conditions the prevalence of pen needles is on the rise where most healthcare providers and even patients are now choosing safe easy to use injectables for the management of diabetes. 

Growing Demand for Safety Pen Needles: There is a growing patient safety concern which is leading to a rise in the use of safety pen needles with mechanisms designed to minimize needlestick injuries. These factors coupled with increased awareness and regulations are fuelling the uptake of these needles which makes them a significant development in the global pen needles market. 

North America dominates the global pen needles market due to a high prevalence of diabetes, robust healthcare infrastructure, and greater adoption of advanced medical devices. This region experiences a growing demand for pen needles owing to the large healthcare expenditure and insurance coverage available, as well as government efforts to enhance the management of diabetes. In addition to this, increased awareness and education on diabetes self-care encourages the use of pen injectors, which further propels the market. North America-based major market players also encourage innovation by coming up with better and advanced pen needle models which improve comfort and compliance among patients. This entire well-established support system makes North America the dominant market for pen needles. 

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Global Pen Needles Market

Report ID: SQMIG35A2722

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