Pen Needle Market - Forecast(2024 - 2030)

Report Code: HCR 0540 Report Format: PDF + Excel
Pen Needle Market Overview

Pen Needle Market size is forecast to reach $2.17 billion by 2025, growing at a CAGR of 9.83% during the forecast period 2020-2025. Pen Needles use injection pens to deliver medications into the body. A pen needle consists of resonating needle that is surrounded in a plastic hub and connect to vaccination pens. These needle technologies have undergone a significant change in last few decades. Presently, pen needles are manufactured are engineered for more easy use, as they comprise of electropolishing for smoothness of needle, fine and thin points tips ease in penetration. Increase in growing prevalence of chronic disease, increase in number of diabetic patients, increase in preference of pen needles over syringes and vials are factors leading to growth of Pen Needle Market

Report Coverage

The report: “Pen Needle Market Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Pen Needle Market.

By Type: Standard Pen Needle, Safety Pen Needle
By Length: 4mm, 5mm, 6mm, 8mm, 10mm, Others
By Therapy: Insulin Therapy, Glucagon- Like Peptide-1 (GLP-1) therapy, Growth Hormone Therapy, Other Therapies
By Mode of Purchase: Retail, Non- Retail
By End Use: Hospitals, Clinics, OTC, Home Healthcare, Others
By Geography: North America, Europe, Asia-Pacific, Rest of the World

Key Takeaways
  • High Adoption of needles among diabetic patients, Huge technological advancements, Rising number of needle stick injuries, increase in preference for pen needles over syringes and vials, growth in geriatric population are reasons driving the growth of Pen Needles Market
  • The Insulin Therapy held the largest market share in 2019 owing increasing awareness about self- administration of insulin therapy among Type1 and 2 diabetic patients
  • In 2019, North America dominated the Pen Needle Market owing to the increased incident of diabetes
  •  Government Initiatives to spread awareness about the product along with favorable funding from many private companies is leading the growth of Pen Needle market during the forecast period 2020-2025.
By Type- Segment Analysis 

Based on type, the Pen needle market is segmented into Standard Pen Needle and Safety Pen Needle. Standard Pen Needle accounts for major market share for Pen Needle by type. This is owing to low cost of standard pens which is creating huge demand as they are widely adopted in emerging economies such as India, China, Brazil, and other developing countries. The risk of accidental needle stick injuries the standard needles are not equipped with safety shields. However, Safety Pen Needles are set to register the highest CAGR during the forecast period 2020-2025 owing to growing technological advancements in the field. It helps to minimize risk of needle stick injuries amongst patients.

By Therapy Type- Segment Analysis

Based on Therapy type Pen Needle Market is segmented into Insulin Therapy, Glucagon- Like Peptide-1 (GLP-1) therapy, Growth Hormone Therapy and Others. Insulin Therapy is projected to be the fastest growing segment with a CAGR of 8.17% during the forecast period 2020-2025. This is owing to high and growing diabetic population globally. Also, with increase in awareness about insulin therapy the demand is increasing. 

Geography- Segment Analysis

Based on Geography Pen Needle Market is segmented into North America, Europe, Asia- Pacific and Rest of the World. North America accounted for 37.69% of the overall Pen Needle Market share in 2019 followed by Europe and APAC. This is owing to incidence of diabetes in North America and healthcare system and supportive reimbursement structure is supporting market growth in North America. Government initiative to spread awareness about the product along with a favorable funding from many private players is leading the market growth. 

Pen Needle Market Drivers –

Rising number of Diabetic Population

As per international diabetic federation, in 2019 1 in 11 adults aged 20-79 years have diabetes(approximately 463 Million) and around 10% of global expenditure is spent on diabetes and it is estimated that 642 million people is estimated to have diabetes by 2040. There is huge demand of diabetes pen needles with advancement. With the rise in the numbers of diabetic patient these Pen Needle which are used for injecting insulin and other injectable medication is driving the growth of Pen Needle Market.

Increase in technological advancements

Around 39.1% of nurses reported that at least one needlestick injury while administering the diabetic injections. The incidence of needlestick injuries involving injection pen was 139.5 nurses per 1000 nurses per year. With this increasing number of injuries safety is still a concern. However, with different technology growth there is scope of improvising the shields over the front and back ends of needles that does not require to pinch up. This in thus is set to create the safety of needle and thus driving the growth of market 

Pen Needle Market Challenges

Reuse of Pen Needle

Reusing the pen needle could increase the bacterial growth on the needle where there is likelihood of experiencing pain when injecting. Also, it increases the risk of liphypertrophy i.e occurrence of lumpy skin can which is caused if the pen needle is reused. In 2019, a pen needle is being reused approximately 7 times causing very small piece from the end of the needle to break off which suggest the microscopic pieces of needle left in patient. With around 7 times reusing the same needle and with risk of many infection it is huge
challenge in Pen Needle Market.

Pen Needle Market Industry Outlook 

Product Launches, Merger & Acquistions, joint ventures and R&D activities are key strategies adopted by the players in the Pen Needle Market. Pen Needle Market top 10 companies are Becton, Dickinson and Company, Novo Nordisk A/S, Ypsomed Holding AG , B. Braun Melsungen AG, HTL-STREFA S.A., Terumo Corporation, Artsana S.p.a , Owen Mumford Ltd., Allison Medical, Inc. , UltiMed, Inc. among others 


  • In September 2017, BD launched ultimate 6mm pen needle for injection pens. BD provides healthcare professionals with an extra BD quality and reliability needle length choice to provide a wider range of needle sizes for individuals with diabetes who injects insulin.
1. Pen Needle Market Overview
    1.1 Definitions and Scope
2. Pen Needle Market - Executive Summary
    2.1 Market Revenue and Key Trends 
    2.2 Key trends by Type
    2.3 Key trends by Length
    2.4 Key trends by End-User
    2.5 Key trends by Geography
3. Pen Needle Market –Comparative Analysis
    3.1 Product Benchmarking - Key companies
    3.2 Financials Analysis - Key Companies
    3.3 Market Share Analysis- Key Companies
    3.4 Patent Analysis 
    3.5 Pricing Analysis
4. Pen Needle Market- Startup companies Scenario Premium (Premium) 
    4.1 Key Startup Company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Application Analysis
        4.1.4 Venture Capital and Funding Scenario
5. Pen Needle Market – Industry Market Entry Scenario Premium (Premium) 
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Case Studies of Successful Ventures
6. Pen Needle Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes
7. Pen Needle Market -Strategic analysis
    7.1 Value chain analysis 
    7.2 Opportunities analysis
    7.3 Market life cycle
8. Pen Needle Market – By Type (Market Size –$Million/$Billion)
    8.1 Standard pen Needles
    8.2 Safety Pen Needle
9. Pen Needle Market – By Length (Market Size –$Million/$Billion)
    9.1 4mm
    9.2 5mm
    9.3 6mm
    9.4 8mm
    9.5 10mm
    9.6 Others
10. Pen Needle Market – By Therapy (Market Size –$Million/$Billion)
    10.1 Insulin therapy
    10.2 Glucagon- Like Peptide-1 (GLP-1) Therapy
    10.3 Growth Hormone Therapy
    10.4 Other Therapies
11. Pen Needle Market – By Mode of Purchase (Market Size –$Million/$Billion)
    11.1 Retail
    11.2 Non-Retail
12. Pen Needle Market – By End Use (Market Size –$Million/$Billion)
    12.1 Hospitals
    12.2 Clinics
    12.3 OTC
    12.4 Home Healthcare
    12.5 Others
13. Pen Needle Market - By Geography (Market Size -$Million/$Billion)
    13.1 North America
        13.1.1 U.S.
        13.1.2 Canada
        13.1.3 Mexico
    13.2 Europe
        13.2.1 U.K.
        13.2.2 Germany
        13.2.3 France
        13.2.4 Italy
        13.2.5 Spain
        13.2.6 Rest of Europe
    13.3 Asia-Pacific China Japan South Korea India Australia & New Zealand Rest of Asia-Pacific
    13.4 Rest of the World
        13.4.1 Middle East
        13.4.2 Africa
        13.4.3 South America
14. Pen Needle Market - Entropy
15. Pen Needle Market – Industry/Segment Competition Landscape (Premium) 
    15.1. Market Share Analysis
        15.1.1 Global Market Share – Key Companies
        15.1.2 Market Share by Region – Key companies
        15.1.3 Market Share by Country- Key companies
        15.1.4 Best Practices for Companies
16. Pen Needle Market – Key Company List by Country Premium (Premium)
17. Pen Needle Market Company Analysis
    17.1 Company Revenue, Products, M&A, Developments
    17.2 Company 1
    17.3 Company 2
    17.4 Company 3
    17.5 Company 4
    17.6 Company 5
    17.7 Company 6
    17.8 Company 7
    17.9 Company 8
    17.10 Company 9
    17.11 Company 10 and more
*Financials for private companies would be provided on a best effort’s basis”.