[143 Pages Report] The pen needles market is expected to reach USD 1.8 billion by 2024 from an estimated USD 1.1 billion in 2019, at a CAGR of 10.8% during the forecast period. Growth in the pen needles market is mainly driven by factors such as the growing prevalence of chronic diseases and the favorable reimbursement scenario in selected countries. The growing preference for biosimilar drugs is another factor providing a wide range of growth opportunities for key players in the market.

The standard pen needles segment held the largest share of the market in 2018

Based on type, the market is segmented into standard and safety pen needles. In 2018, the standard pen needles segment accounted for the largest share of the pen needles market. Growth in this market is associated with the low cost of standard pen needles. The low cost of standard pen needles has also led to their wide adoption in emerging economies such as China, India, and Brazil where the presence of safety pen needles is very low to negligible. However, as standard needles are not equipped with safety shields, the risk of accidental needlestick injuries (NSIs) with the use of these needles is high.

The insulin therapy segment to grow at the highest CAGR during the forecast period

On the basis of therapy, the pen needles market is segmented into insulin, GLP-1, growth hormone, and other therapies such as osteoporosis, fertility, and obesity. The insulin therapy segment is expected to grow at a higher CAGR during the forecast period primarily due to the high and growing diabetic population globally. Since pen needles need to be replaced after every injection, the rising use of insulin pens is a major factor driving the demand for pen needles. Additionally, favorable reimbursement scenario for pen needles in several North American, European, and Asian countries is the other major factor driving the demand for pen needles.

In 2018, the 8mm segment accounted for the largest share of the pen needles market

On the basis of length, the market is segmented into 4mm, 5mm, 6mm, 8mm, 10mm, and 12mm. In 2018, the 8mm segment accounted for the largest share of the pen needles market. Growth in this market is largely driven by the high adoption of these needles among diabetes patients. However, the usage of these needles is likely to witness a decrease in the coming years due to the increased usage of shorter needles that cause less pain and enable easy insulin administration

North America dominated the pen needles market in 2018

North America dominated the pen needles market in 2018. The large share of the North American pen needles market can primarily be attributed growing diabetes prevalence and favorable reimbursement scenario for pen needles, federal initiatives to create awareness about injection techniques, increasing market penetration by leading players, and the development of improved pen needle technologies. For instance, Ypsomed Holding AG (Switzerland) has launched mylife Clickfine DiamondTip pen needles with the innovative 6-bevel technology, and Becton, Dickinson and Company (US) has upgraded its pen needles with the PentaPoint and EasyFlow technology.

Key Market Players

The key players in the pen needles market are Becton, Dickinson and Company (US), Novo Nordisk A/S (Denmark), and Ypsomed Holding AG (Switzerland), B. Braun Melsungen AG (Germany), HTL-STREFA S.A. (Poland), Terumo Corporation (Japan), and Owen Mumford (UK).

Becton, Dickinson and Company (US) is a leading company in the field of drugs delivery systems. The company is a pioneer in the field of pen needles. The company offers a wide range of products including both standard and safety pen needles, such as BD Ultra-Fine Nano, BD PentaPoint products, and BD AutoShield Duo Pen Needles. BD also collaborates with universities, medical centers, and other entities to conduct R&D programs to support its efforts in specialized fields. In order to maintain its position, the company has adopted growth strategies, such as geographical expansions and product launches. The company opened its Advanced Diabetes Care facility in Andover, Massachusetts, US, in 2015.

Novo Nordisk (Denmark) is a leader in the diabetes care market with an experience of more than 90 years in diabetes care. As a significant volume of Novo Nordisk�s insulins are used in injectable devices, the company is witnessing a surge in the sale of its insulin pens and supplies including pen needles. The company has its distribution and production facilities in more than 79 countries and markets its products in more than 180 countries. The growing diabetes market globally serves as an opportunity for the company to gain stable revenues from its diabetes care segment. In this regards, the company provided medical treatment to 26.8 million diabetic patients worldwide, in 2015 and targets to reach 40 million people with its diabetic care products by 2020.

Scope of the report

Report Metric Details Market size available for years 2017�2024 Base year considered 2018 Forecast period 2019�2024 Forecast units Value (USD) Segments covered Type, Length, Therapy, Mode of Purchase, and Region Geographies covered North America, Europe, Asia Pacific, and Rest of the World Companies covered Becton, Dickinson and Company (US), Novo Nordisk A/S (Denmark), Ypsomed Holding AG (Switzerland), B. Braun Melsungen AG (Germany), HTL-STREFA S.A. (Poland), Terumo Corporation (Japan), Artsana S.p.a (Italy), Owen Mumford Ltd. (UK), Allison Medical, Inc. (US), UltiMed, Inc. (US), ARKRAY, Inc. (Japan), and GlucoRx (UK).

This research report categorizes the pen needles market based on type, needle length, therapy, mode of purchase, and region.

Pen needles market, by type:

Standard Pen Needles

Safety Pen Needles

Pen needles market, by length:

4mm

5mm

6mm

8mm

10mm

12mm

Pen needles market, by therapy:

Insulin

GLP-1

Growth Hormone Therapy

Other Therapies (osteoporosis, infertility, obesity, cardiovascular disease, rheumatoid arthritis, and Crohn�s disease)

Pen needles market, by mode of purchase:

Retail

Non-retail

Pen needles market, by region:

North America US Canada

Europe Germany France UK Italy Spain Rest of Europe (RoE)

Asia Pacific China India Japan ROAPAC

Rest of the World Latin America Middle East & Africa



Recent Developments

In 2018, Becton, Dickinson and Company (US) launched its BD Ultra-Fine micro pen needle 6mm x 32G in the market.

In 2016, Ypsomed (Switzerland) entered into an agreement with Tonghua Dongbao Pharmaceutical (China) with an aim to distribute its mylife Clickfine pen needles in China.

In 2015, Ypsomed (Switzerland) launched mylife Clickfine DiamondTip pen needles.

Key Questions addressed by the report

Which are the key players in the market and how intense is the competition?

What are the growth strategies being implemented by major market players?

Emerging countries have immense opportunities for the growth of the pen needles market, will this scenario continue?

Which product market will dominate in the pen needles market in the future?

What are the challenges hindering the adoption of pen needles?

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