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Pen Needles Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Pen Needles Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

  • January 2022
  • 147 pages
  • ID: 6223546
  • Format: PDF
  • IMARC Group

Summary

Table of Contents

The global pen needles market reached a value of US$2.8 Billion in 2021. Looking forward, the analyst expects the market to reach US$6.5 Billion by 2027, exhibiting a CAGR of 15.01% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

Pen needles are disposable hollow needles used in pen injectors for delivering pharmaceutical drugs in the subcutaneous tissues of the body. The needle is fixed in the plastic hub of the medical injector pen and consists of plastic caps and individual wrapping for enhanced security and sterilization. Pen needles are manufactured using electro-polishing techniques to achieve smooth, fine and thin point tips for convenient penetration. They are available in a wide variety of gauge sizes and lengths and are majorly used by diabetic patients that require multiple dosages of insulin injections every day. In comparison to the traditionally used syringes and vials, pen needles are highly cost-effective, convenient to use, portable and do not require refrigeration.

Pen Needles Market Trends:
The increasing prevalence of diabetes mellitus (DM) and other chronic medical disorders, such as osteoporosis, cardiovascular disease (CVD) and multiple sclerosis, is one of the key factors driving the growth of the market. The treatment of these ailments require multidrug regimen that involves daily or weekly administration of medicinal drugs with injector pens. Moreover, the rising geriatric population, which is more susceptible to chronic ailments is contributing to the growth of the market. Insulin pens provide a reliable, accurate and simplified dosing solution to the elderly patients and facilitate self-administration. Additionally, various product innovations, such as the development of ultra-thin and short-length needles with improved drug delivery systems, are acting as other growth-inducing factors. The traditionally used needles were difficult to use during self-dosage and caused more pain and discomfort to the patients. Other factors, including the increasing healthcare expenditure capacities of the masses, along with the implementation of favorable government policies promoting public health, are anticipated to drive the market toward growth.

Key Market Segmentation:
the analyst provides an analysis of the key trends in each sub-segment of the global pen needles market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, needle length, therapy, mode of purchase and end user.

Breakup by Type:
Standard Pen Needles
Safety Pen Needles

Breakup by Needle Length:
4mm
5mm
6mm
8mm
10mm
12mm

Breakup by Therapy:
Insulin
GLP-1
Growth Hormones

Breakup by Mode of Purchase:
Retail
Non-Retail

Breakup by End User:
Hospitals and Clinics
Home Healthcare
Others

Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being A. Menarini Diagnostics srl, Advancare Pharma, Arkray Inc., B. Braun Melsungen AG, Becton Dickinson and Company, Hindustan Syringes & Medical Devices Ltd., HTL Strefa SA, Novo Nordisk A/S, Owen Mumford Ltd., Simple Diagnostics, Trividia Health Inc. (Sinocare) and Ultimed Inc.

Key Questions Answered in This Report:
How has the global pen needles market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global pen needles market?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the needle length?
What is the breakup of the market based on the therapy?
What is the breakup of the market based on the mode of purchase?
What is the breakup of the market based on the end user?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global pen needles market and who are the key players?
What is the degree of competition in the industry?

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