Pen Needles Market by Type (Standard, Safety), Needle Length, Usability (Disposable, Reuse), Application (Insulin, Growth Hormone, GLP-1), Distribution Channel (Hospital Pharmacy, Retail, Online), Setting (Home Care, Hospital) - Global Forecast to 2031

The Pen Needles Market was valued at $6.03  billion in 2023. This market is expected to reach $12.88  billion by 2031, from an estimated $6.66  billion in 2024, at a CAGR of 9.9% during the forecast period 2024-2031.

Pen Needles Market Size & Forecast

Pen needles are sterile devices utilized with pen injectors to administer injectable drugs into the patient's body. Pen needles consist of needles implanted in a plastic body that is attached to an injection pen. Pen needles are offered in a variety of gauge sizes and lengths. People with diabetes typically use pen needles as they require several insulin injections each day. Technological advancements in pen needles prevent needle stick injuries and reduce pain and discomfort during injection, which improves the entire user experience.

The growth of this market is driven by factors such as the rising prevalence of diabetes, growing demand for self-administration of drugs, advancements in technology, and rising healthcare expenditure. Moreover, the preference for pen needles over vials and syringes, favorable reimbursement policies, and emerging economies are expected to offer significant market growth opportunities.

However, concerns regarding needlestick injuries restrain the market’s growth. Additionally, the reuse of pen needles, limited access to healthcare in developing nations, and lack of awareness about proper usage of pen needles pose challenges to the market’s growth.

The Increasing Prevalence of Diabetes is Driving the Market’s Growth

Diabetes stands as one of the foremost global health challenges in the 21st century, with its prevalence increasing annually and posing significant risks of life-altering complications. According to the International Diabetes Federation, in 2021, 537 million people were diagnosed with diabetes worldwide. Among these, the Western Pacific region accounted for 206 million cases, Southeast Asia for 90 million, the Middle East and North Africa for 73 million, Europe for 61 million, North America and the Caribbean for 51 million, South and Central America for 32 million, and Africa for 24 million. This number is projected to reach 643 million by 2030 and 783 million by 2045.

Moreover, the Centers for Disease Control and Prevention reported that in 2022, 38 million individuals were diagnosed with diabetes in the U.S. Furthermore, Type 2 diabetes is increasingly prevalent among adults aged 45 and above, while its occurrence is also rising among teenagers, children, and adults overall. Thus, the rising prevalence of diabetes is driving the growth of the pen needles market.

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Rising Preference for Pen Needles over Vials and Syringes to Offer Market Growth Opportunities

In recent years, pen needles have gained popularity over traditional vials and syringes for certain medical purposes, specifically for insulin administration. Pen needles have various advantages, making them an increasingly common option among patients and healthcare practitioners.

Pen needles are engineered for user convenience, featuring clear labeling, customizable dosing, and straightforward injection mechanisms. Many models incorporate safety enhancements like automated needle retraction or shields to minimize the risk of accidental needlestick injuries. Compared to traditional syringes, pen needles typically have shorter and thinner needles, thereby reducing injection-related pain and discomfort thus enhancing the overall user experience. Additionally, pen needles come pre-filled with medication, eliminating the need to draw doses from vials using a separate syringe. These advantages contribute to the growing preference for pen needles over vials and syringes.

Key Findings in the Pen Needles Market Study:

The Safety Pen Needles Segment is Expected to Account for the larger Share of the Market in 2024

Among the types covered in this report, in 2024, the safety pen needles segment is expected to account for the larger share of the pen needles market. Safety pen needles are increasingly preferred over standard pen needles as they reduce the risk of needlestick injuries. Moreover, companies in the pen needles market are actively enhancing their product portfolios through the introduction of new products and obtaining regulatory approvals. For instance, in February 2023, Montmed, Inc. (Canada) secured a patent from the United States Patent and Trademark Office (USPTO) for its Sitesmart Pen Needles, designed to facilitate easy and seamless insulin administration for diabetic individuals, thereby promoting healthier injection practices. Similarly, in February 2021, UltiMed, Inc. (U.S.) launched the UltiCare safety pen needle, protecting against accidental needlestick injuries. These initiatives contribute to the growing demand for safety pen needles.

The 4 mm Segment is Expected to Account for the Largest Share of the Market in 2024

Among the needle lengths covered in this report, in 2024, the 4 mm segment is expected to account for the largest share of the pen needles market. The large market share of this segment can be attributed to the benefits offered by these needles, such as less pain and a higher level of comfort during injections compared to longer needles. Their shorter length allows for easy access to the patient's subcutaneous tissue, reducing the chances of needlestick injuries and minimizing the risk of adverse effects associated with intramuscular injections. Additionally, 4 mm needles help to ensure more consistent dosing, contributing to their widespread adoption.

The Single-use/Disposable Segment is Expected to Account for the Larger Share of the Market in 2024

Based on usability, in 2024, the single-use/disposable segment is expected to account for the largest share of the pen needles market. Insulin pen needles are intended for single use only, offering several advantages over traditional syringes. Single-use pen needles provide improved dosing accuracy, ease of use, and reduced pain during injections. Additionally, they help to minimize the risk of infections due to their pre-sterilized nature, eliminating the need for cleaning or sterilization before each use. This convenience is particularly beneficial for patients requiring frequent injections, as it saves them time and effort, thereby contributing to the increased adoption of single-use/disposable pen needles.

The Insulin Therapy Segment is Expected to Account for the Largest Share of the Market in 2024

Among the applications covered in this report, in 2024, the insulin therapy segment is expected to account for the largest share of the pen needles market. Insulin therapy is the most commonly utilized approach for managing diabetes, aiding in the regulation of blood sugar levels and the prevention of associated complications. The large market share of this segment can be attributed to increasing awareness about the benefits of insulin therapy and the implementation of diabetes management and awareness initiatives. For instance, in December 2023, the government of Goa partnered with Sanofi S.A. (France) to accelerate diabetes awareness programs and facilitate early detection of diabetes in schools. Additionally, in November 2023, the American Diabetes Association (ADA) (U.S.) launched the "We Fight" campaign aimed at curing and preventing diabetes while improving the lives of individuals affected by the condition.

The Retail Pharmacies Segment is Expected to Account for the Largest Share of the Market in 2024

Among the distribution channels covered in this report, in 2024, the retail pharmacies segment is expected to account for the largest share of the pen needles market. The large market share of this segment can be attributed to the increasing consumer demand for pen needles and the opportunity for customers to inspect the product before making a purchase.

The Home Care Segment is Expected to Account for the Largest Share of the Market in 2024

Among the healthcare settings covered in this report, in 2024, the home care segment is expected to account for the largest share of the pen needles market. The large market share of this segment can be attributed to the increasing development and adoption of home care devices due to their convenience, precision, and accuracy. Additionally, there has been a growing focus among companies to raise awareness about diabetes, which has led to increased adoption of pen needles in home care settings. Furthermore, home care allows patients to receive the necessary care for managing their conditions in the comfort of their own homes. Pen needles play a crucial role in enabling patients to self-administer injectable medications, further driving the shift toward home care.

Asia-Pacific: Fastest-growing Regional Market

The market in Asia-Pacific is projected to register the highest growth rate during the forecast period. The growth of this regional market can be attributed to the rising prevalence of diabetes in the region, the presence of major pen needle manufacturers in countries such as China, India, Singapore, and Japan, and technological advancements related to pen needles. These advancements include features such as compatibility with various insulin pens, adjustable needle lengths, and safety applications aimed at reducing needle stick injuries.

Pen Needles Market: Competitive Analysis

The report offers a competitive landscape based on an extensive assessment of the product offerings and geographic presence of leading market players and the key growth strategies adopted by them over the past three to four years. The key players profiled in the pen needles market report are Becton, Dickinson and Company (U.S.), Novo Nordisk A/S (Denmark), Ypsomed AG (Switzerland), Owen Mumford Limited (U.K.), B. Braun Melsungen AG (Germany), Terumo Group (Japan), Allison Medical, Inc. (U.S.), Cardinal Health, Inc. (U.S.), Trividia Health, Inc. (U.S.), UltiMed, Inc. (U.S.), Hindustan Syringes & Medical Devices Ltd (India), and Nanchang YiLi Medical Instrument Co.,LTD (China).

Pen Needles Market Report Summary:

Key questions answered in the report: