Pen Needles Market Analysis By Product (Standard & Safety Pen Needles), By Needle Length (4mm, 5mm, 6mm, 8mm, 10mm, 12mm), By Therapy (Insulin, Glucagon-like-Peptide-1 [GLP-1]), & Segment Forecasts, 2018 - 2025

Industry Insights

The global pen needles market size was valued at USD 1.5 billion in 2015 and is anticipated to exhibit attractive growth over the forecast period. Growing prevalence of diabetes has led to rising demand for pen needles. According to the International Diabetes Federation (IDF), 642 million people are estimated to have diabetes by 2040. With rising population of diabetes, the target market is expected to grow in the near future. These products are commonly used by diabetic patients for injecting insulin or any other injectable medication. Obese people are also highly susceptible to diabetes. According to Diabetes.co.uk, obesity is assumed to account for 80-85% of risk of developing of diabetes.

Insulin pens are the most convenient and fastest mode of injecting drug delivery. Pen needles are highly demanded in conjunction with growing need for insulin pens for people suffering from diabetes. These devices used with insulin pens help in delivering the dosage of the drug to the patient.

Germany pen needles market, by product, 2014 - 2025 (USD Million)

Huge technological advancements are also driving the growth of pen needles industry. Companies are focusing on new product development with respect to the needle length. For instance, in 2014, Novo Nordisk announced the commercial availability of NovoFine Plus, the shortest and thinnest needle in the U.S. Pen needles of shorter length can be easily used by everyone including overweight patients.

Insulin pens coupled with needles are considered as an improved alternative drug delivery process in comparison to syringes and vials. Traditional syringes are large and create difficulty in self-administration. However, pen needles have fine pointed tips, which helps in easy penetration into the patient’s muscle. These needles also facilitate safety pertaining to insulin delivery amongst diabetic patients.

Product Insights

In 2015, standard pen needles held the largest market share due to its daily usage of larger doses by diabetic patients. People suffering from dexterity problems commonly use these needles. However, these needles are not preferred since there is a high risk of causing needlestick injuries, which hampers the safe applicability of pen needles. Hence, they are expected to have low demand in the near future. Rising number of diabetic population and awareness level regarding the usage of insulin pens are some of the factors supporting the growth of this segment.

Safety pen needles are expected to showcase lucrative growth over the forecast period due to rising technological advancements in this field. These devices enable the minimization of needlestick injuries amongst patients.

Needle Length Insights

Amongst the type of needle length, 8mm sized pen needle accounted for the largest market in 2015. These types of needles are most commonly prescribed to all patients including the overweight people suffering from the target disease.

Needle length of 4mm is anticipated to witness attractive CAGR over the forecast period owing to its short length. Shortest and thinnest needles are increasingly being used by patients due to a greater comfort level offered by them as compared to injections. Moreover, their short layer helps reach the subcutaneous tissue of the patients easily.

Therapy Insights

On the basis of therapy type, the market has been segmented into insulin, GLP-1, and growth hormone. The insulin therapy segment dominated the market in 2015 and is also expected to showcase lucrative growth over the forecast period. This is due to the increasing awareness about self-administration of insulin therapy amongst the type 1 and type 2 diabetes patients.

GLP-1 therapy is also expected to exhibit significant growth in the near future. This is due to its capability to minimize the blood glucose level amongst patients suffering from type 2 diabetes. In addition, Novo Nordisk is also focusing on the expansion of GLP-1 market.

Germany pen needles market share, by therapy, 2015 (%)

Regional Insights

In 2015, Europe dominated the market due to its rising prevalence of the target disease in this region. Moreover, the UK government is also taking initiatives to invest in diabetes care and research in order to improve treatment techniques for the diabetic patients.

Asia Pacific is projected to witness attractive growth rate over the forecast period. This is primarily due to the rising awareness about the availability of latest technological devices for diabetes care.

Competitive Insights

Some of the key players in the market comprise Novo Nordisk A/S, Becton, Dickinson and Company, TERUMO CORPORATION, Owen Mumford Ltd., Ypsomed, B. Braun Melsungen AG, HTL-STREFA, UltiMed, Inc., Allison Medical, Inc., and Artsana S.p.a.

The key companies are engaged in new product development through the introduction of improved technology, regional expansion, and mergers & acquisitions in order to target the unmet need of the diabetic patients. For instance, in 2013, Becton, Dickinson and Company launched BD Autoshield Duo Safety Pen Needle in UK and Ireland, which helps in minimizing needlestick injuries.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional & country levels and provides an analysis on the latest trends and opportunities in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the pen needles market on the basis of product, needle length, therapy, and region:

• Product Outlook (Revenue, USD Million; 2014 - 2025)

  • Standard Pen Needles

  • Safety Pen Needles

• Needle Length Outlook (Revenue, USD Million; 2014 - 2025)

  • 4mm

  • 5mm

  • 6mm

  • 8mm

  • 10mm

  • 12mm

• Therapy Outlook (Revenue, USD Million; 2014 - 2025)

  • Insulin

  • Glucagon-like-Peptide-1 (GLP-1)

  • Growth Hormone

• Regional Outlook (Revenue, USD Million; 2014 - 2025)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • UK

  • Asia Pacific

    • Japan

    • China

    • India

  • Latin America

    • Brazil

    • Mexico

  • MEA

    • South Africa