The global pen needles market size was valued at USD 3.1 billion in 2022 and is anticipated to grow at a CAGR of 11.8% from 2023 to 2030. The 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 the rising population of diabetes, the target market is expected to grow at a lucrative rate over the forecast period.
Pen injectors are commonly used by diabetic patients for injecting insulin or any other medication. The obese population is highly susceptible to diabetes, and according to Diabetes.co.uk, obesity is assumed to account for 80-85% of the risk of developing diabetes. Insulin pens are the most convenient and fastest mode of injecting drug. Pen needles are highly demanded in conjunction with the 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.
Technological advancements in the different types of products are also anticipated to drive the growth of the pen needles industry. Companies are focusing on new product development with respect to needle length. For instance, In 2021, BD (Becton, Dickinson and Company) introduced the BD Nano Ultra-Fine pen needle, which has a 4 mm needle length for improved patient comfort and reliable insulin delivery.
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.
In 2022, standard pen needles were identified as the largest segment with a commanding share of over 87.0% due to its daily usage of larger dosage 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, there demand is anticipated to go down over the forecast period.
The 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. According to WHO, diabetes affects around 422 million people globally, with the vast majority residing in low- and middle-income countries. Also, it is directly responsible for 1.5 million fatalities per year. The prevalence and incidences of diabetes has been on a rise over the last decade.
Safety pen needles are expected to witness lucrative growth over the forecast period due to rising technological advancements in this field. These devices enable the minimization of needlestick injuries amongst patients. For instance, according to the National Library of Medicine, the majority of needlestick injuries (NSIs) are caused by faulty needles. A built-in sharps injury prevention function (SIPF) in safety pen needles (SPN) helps to prevent such injuries before, during, and after usage.
Amongst the various needle lengths, 8mm sized pen needle accounted for a lucrative market size in 2022, generating over USD 629.0 million in the global market. These needles are most commonly prescribed to all patients including the overweight people suffering from the target disease. These needles are administered to most patients, including those with the target condition who are overweight. It offers advantages such as protection, user convenience, and ease of disposal. These needles are employed in home settings. Other variables, such as accessibility and cost, are projected to boost category expansion. The needles are less likely to cause a needlestick injury and are simple and safe to dispose of due to their larger size. Furthermore, these are recommended because they are easy to differentiate from other pointy garbage.
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. According to recent studies, short-length needles are just as effective as their longer counterparts. People suffering from trypanophobia can simply use these needles. The use of 4mm and smaller needles helps to reduce intramuscular injection side effects and uneven dosages.
Based on therapy type, the pen needles market has been segmented into insulin, GLP-1, and growth hormone. The insulin therapy segment dominated the market in 2022 with over 87.0% share and is also expected to showcase lucrative growth over the forecast period. This is due to the increasing awareness about the self-administration of insulin therapy amongst type 1 and type 2 diabetes patients. For instance, Lilly's MounjaroTM (tirzepatide) injectable has been approved by the FDA as the first and only GIP and GLP-1 receptor agonist for the management of individuals with type 2 diabetes. 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.
Dulaglutide, Exenatide (extended-release), and Semaglutide are some of the GLP-1 drugs that are taken once weekly. Along with blood sugar control, these help with weight loss, which is of high importance in diabetes patients. Growth hormone therapy includes injection either by traditional syringe-vial combination or injection pens. Owing to the complications and minimal user-friendliness of syringe-vial combination, it is getting rapidly replaced by injection pens. As most growth hormone deficiency patients are children, user acceptance is important in product development. Companies are focusing on pen needle development with minimum pain. Omnitrope is one of the leading brands of injection pens intended for growth hormone deficiency.
In 2022, Europe dominated the market with 37.5% share due to its rising prevalence of the target disease in this region. Moreover, the U.K. government is also taking initiatives to invest in diabetes care and research to improve treatment techniques for diabetic patients. The growing number of diabetic patients in this region is essentially driving market expansion in U.K. For instance, according to Diabetes UK, Diabetes affects more than 4.3 million people in the U.K. Furthermore, 850,000 persons with diabetes may be living undiagnosed.
Asia Pacific is projected to witness an attractive growth rate over the forecast period. Growing demand for pen needles over syringes and vials, as well as an increase in geriatric populations, are driving the APAC pen needles market. China is yet another prospective market in the Asia Pacific area. The growing number of diabetic patients in this region is essentially driving market expansion in China. For instance, the overall prevalence of diabetes among adults is currently at 11.2%, according to the Guidelines for the Prevention and Treatment of Diabetes in China (2020 Edition), and the number people with diabetes is estimated at 141 million, with an undiagnosed ratio of 51.7%.
Prevalence of diabetes, increasing rates of obesity and other lifestyle disorders are rising continuously and hence, the demand for the pen needles is anticipated to witness an attractive CAGR of over 13.8% in APAC over the forecast period. This is primarily due to the rising awareness about the availability of the latest technological devices for diabetes care.
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 for diabetic patients.The major companies are adopting initiatives such as mergers and acquisitions, new product developments, and geographical expansions in order to cater to the rising needs of the patients. For instance, Montmed Inc. announces the issuance of a second US patent for the Sitesmart Pen Needle. Roche diabetic care launched Pen needles with ACCU-FINE technology for painless insulin administration. Some of the key companies operating in the global pen needles market are:
Novo Nordisk A/S
Dickinson and Company
Owen Mumford Ltd.
B. Braun Melsungen AG
Allison Medical, Inc.
Market size value in 2023
USD 3.5 billion
Revenue forecast in 2030
USD 7.7 billion
CAGR of 11.8% from 2023 to 2030
Base year for estimation
Actual estimates/Historic data
2018 - 2021
2023 - 2030
Revenue in USD & CAGR from 2023 to 2030
Revenue forecast, company share, competitive landscape, growth factors & trends
Product, needle length, therapy, region
North America; Europe; Asia Pacific; Latin America; and MEA
U.S.; Canada; UK; Germany; France; Italy; Spain; Denmark; Sweden; Norway; China; Japan; India; Australia; South Korea; Thailand; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE; Kuwait.
Key companies profiled
Novo Nordisk A/S; Becton Dickinson and Company; Terumo Corp.; Owen Mumford Ltd.; Ypsomed; B. Braun Melsungen AG; HTL-STREFA; UltiMed, Inc.; Allison Medical, Inc.; Artsana S.p.A.
Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.
15% free customization scope (equivalent to 5 analysts working days)
If you need specific market information, which is not currently within the scope of the report, we will provide it to you as a part of customization
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 2018 to 2030. For the purpose of this study, Grand View Research has segmented the pen needles market report on the basis of product, needle length, therapy and region:
Product Outlook (Revenue, USD Million; 2018 - 2030)
Standard Pen Needles
Safety Pen Needles
Needle Length Outlook (Revenue, USD Million; 2018 - 2030)
Therapy Outlook (Revenue, USD Million; 2018 - 2030)
Regional Outlook (USD Million, 2018 - 2030)
Middle East & Africa
b. The global pen needles market size was estimated at USD 3.1 billion in 2022 and is expected to reach USD 3.5 billion in 2023.
b. The global pen needles market is expected to grow at a compound annual growth rate of 11.8% from 2023 to 2030 to reach USD 7.7 billion by 2030.
b. Europe dominated the pen needles market with a share of 37.5% in 2022. This is attributable to the rising prevalence of the target disease in this region. Moreover, the U.K. government is also taking initiatives to invest in diabetes care and research in order to improve treatment techniques for diabetic patients.
b. Some key players operating in the pen needles market include 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.
b. Key factors that are driving the pen needles market growth include the growing prevalence of diabetes.
NEED A CUSTOM REPORT?
We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities. Contact us now
"The quality of research they have done for us has been excellent."