Report Description

Forecast Period

2025-2029

Market Size (2023)

USD 2.86 billion

CAGR (2024-2029)

7.58%

Fastest Growing Segment

Insulin Therapy

Largest Market

North America

 

Market Overview

Global Pen Needles Market was valued at USD 2.86 billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 7.58% through 2029. The Global Pen Needles Market is a dynamic and rapidly evolving sector within the healthcare industry that plays a crucial role in the management of diabetes. Pen needles are essential devices used by individuals with diabetes to administer insulin, a hormone vital for regulating blood sugar levels. This market has witnessed significant growth and innovation in recent years, driven by the rising prevalence of diabetes, technological advancements, and increased awareness about the importance of effective diabetes management.

One of the key drivers of the global pen needles market is the escalating global diabetes epidemic. As the number of individuals diagnosed with diabetes continues to rise, there is a growing demand for user-friendly, efficient, and painless insulin delivery systems. Pen needles offer a convenient and less invasive alternative to traditional syringes, contributing to their popularity and market expansion.

Technological advancements have also played a pivotal role in shaping the market. Manufacturers have introduced innovative features in pen needle devices, such as ultra-thin needles, safety mechanisms, and compatibility with various insulin pens. These developments aim to enhance patient comfort, minimize the risk of infection, and provide precise insulin dosing, driving the adoption of pen needles.

Moreover, increasing awareness about diabetes management and the importance of glycemic control has prompted healthcare professionals and patients to opt for pen needles over conventional injection methods. This heightened awareness, coupled with the convenience and precision offered by pen needles, has bolstered their market growth.

The global pen needles market is characterized by the presence of key players such as BD (Becton, Dickinson and Company), Novo Nordisk, Ypsomed, and Owen Mumford, among others. These companies continually invest in research and development to innovate and improve their product offerings, making the market highly competitive and dynamic.

Key Market Drivers

Escalating Diabetes Epidemic

The escalating diabetes epidemic has significantly boosted the Global Pen Needles Market as the demand for effective insulin delivery devices continues to surge. Diabetes, a chronic metabolic disorder characterized by high blood sugar levels, has reached epidemic proportions globally. According to the International Diabetes Federation (IDF), the number of people living with diabetes worldwide was estimated at 463 million in 2019, and this number is projected to reach a staggering 700 million by 2045. This rapid and widespread increase in diabetes cases has created a pressing need for reliable and user-friendly tools to manage the condition.

As more individuals are diagnosed with diabetes, there is a growing demand for insulin, a hormone essential for regulating blood sugar levels. Pen needles have emerged as a critical component of insulin delivery, allowing individuals to self-administer insulin injections with ease and precision. Their convenient, user-friendly design has made them an indispensable tool in diabetes management, particularly for those with type 1 and type 2 diabetes who require insulin therapy.

The escalating diabetes epidemic has led to a significant increase in the number of patients who rely on pen needles as their preferred method of insulin delivery. The ease of use and relatively painless injections offered by pen needles make them an attractive choice for patients. This growing demand has spurred manufacturers to innovate and enhance pen needle technology, resulting in the development of ultra-thin needles, safety features, and improved compatibility with various insulin pens. These innovations not only cater to the needs of an expanding user base but also contribute to the overall growth of the global pen needles market.

Technological Advancements

Technological advancements have played a pivotal role in boosting the Global Pen Needles Market, reshaping the landscape of insulin delivery and making diabetes management more convenient and efficient. In an era of rapid technological innovation, pen needles have evolved to meet the changing needs of individuals with diabetes, propelling their demand in the global market.

One of the most significant technological advancements in pen needle design is the development of ultra-thin needles. These needles are designed to be finer and smaller in diameter, reducing the perception of pain during insulin injections. As a result, they offer a more comfortable experience for users, making the prospect of daily insulin administration less daunting. This innovation has not only improved patient compliance but has also made pen needles a preferred choice for many over traditional syringes.

Integrated safety mechanisms are another technological leap in pen needle development. These mechanisms are designed to reduce the risk of needlestick injuries and enhance the overall safety of insulin delivery. The incorporation of features such as shields that cover the needle after use or mechanisms that prevent accidental needle exposure has made pen needles a safer and more attractive option for users and healthcare providers alike.

Furthermore, the compatibility of pen needles with various insulin pens has expanded their utility and versatility. This compatibility ensures that patients have more choices when it comes to insulin administration, as they can select the insulin pen that best suits their needs. The ability to switch between different pens while using the same pen needle has enhanced the convenience and flexibility of insulin delivery.

The impact of these technological advancements on the market is substantial. Patients and healthcare professionals increasingly recognize the benefits of modern pen needles, driving their adoption over older, less advanced insulin delivery methods. As a result, the global pen needles market is experiencing steady growth, with a focus on user comfort, safety, and precision.

Rising Awareness about Diabetes Management

The Global Pen Needles Market has experienced a significant boost in recent years due to the rising awareness about diabetes management and the pivotal role that pen needles play in facilitating effective insulin delivery. Diabetes, a chronic metabolic disorder characterized by elevated blood sugar levels, has garnered increasing attention, not only from healthcare professionals but also from individuals at risk and those living with the condition. This growing awareness has translated into greater demand for innovative tools and devices that enable more effective diabetes management.

Healthcare providers, advocacy organizations, and pharmaceutical companies have been instrumental in raising awareness about the importance of diabetes management. They emphasize the significance of maintaining optimal blood sugar levels to prevent complications and enhance overall quality of life for individuals with diabetes. As a result, more individuals are actively seeking out methods and devices that can assist in achieving better glycemic control.

Pen needles have emerged as a key component of this strategy. They offer a user-friendly, convenient, and precise means of delivering insulin, which is essential for regulating blood sugar levels in people with diabetes. The ease of use and reduced pain associated with insulin injections using pen needles have made them a preferred choice for both patients and healthcare professionals.

The increased awareness about diabetes management has led to a notable shift in the way people with diabetes perceive and approach their condition. They are now more empowered to actively participate in their healthcare decisions, embracing a patient-centric model. Pen needles, designed to be easy to use and offering discreet and portable insulin delivery options, align perfectly with this model, enabling individuals with diabetes to take charge of their treatment.

This shift in attitude and the growing awareness about diabetes management have contributed to the significant boost in the Global Pen Needles Market. Patients are more likely to opt for pen needles over traditional syringes due to the convenience, precision, and comfort they offer. As the emphasis on effective diabetes management continues to increase, the adoption of pen needles is expected to rise further, driving the growth of the market.

 

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Key Market Challenges

Cost-Related Concerns

The Global Pen Needles Market, a vital segment of the healthcare industry, has made remarkable strides in providing individuals with diabetes a convenient and less painful means of insulin delivery. However, cost-related concerns have emerged as a significant hurdle hindering the further expansion of this market. Pen needles, although offering numerous advantages, can be prohibitively expensive for many patients, limiting their access to these essential diabetes management tools.

Pen needles are generally more expensive than traditional insulin syringes. While they offer benefits such as less painful injections, enhanced precision, and user-friendliness, these advantages come at a higher price point. The cost of pen needles varies depending on factors such as brand, needle length, and additional features. This cost differential can be a substantial barrier to adoption, especially in regions where healthcare resources are limited.

For many individuals, the price of pen needles can pose a financial burden, particularly in cases where insurance coverage is inadequate or nonexistent. The ongoing need for insulin and related supplies can place a considerable strain on the finances of those living with diabetes, potentially leading them to opt for more cost-effective alternatives. In some cases, patients may continue using traditional insulin syringes, even though pen needles may offer a more comfortable and precise option for insulin delivery.

Moreover, the economic challenges posed by the cost of pen needles can have broader implications for healthcare systems. A significant portion of healthcare expenditures in many countries is attributed to diabetes management. High costs associated with insulin delivery devices may result in increased healthcare spending, impacting both individuals and public healthcare budgets. This has raised concerns about the overall sustainability of diabetes care, especially in the face of the growing global diabetes epidemic.

Regulatory Hurdles

The Global Pen Needles Market has experienced substantial growth over the years, driven by increasing diabetes prevalence and technological advancements in insulin delivery devices. However, one of the prominent challenges that hinder the further expansion of this market is the complex regulatory landscape governing medical devices, including pen needles.

Regulatory hurdles can vary significantly from one country to another, making it challenging for manufacturers to navigate the diverse and evolving requirements. The stringent regulations that govern the approval, manufacturing, and distribution of medical devices, such as pen needles, can significantly slow down product introductions, increase compliance costs, and create barriers to market entry.

One major regulatory challenge is the need for regulatory approval or clearance from health authorities in each target market. The process of gaining regulatory approval can be time-consuming and expensive. Manufacturers must compile extensive documentation, conduct clinical trials, and meet various safety and efficacy requirements. The complexity of these processes can deter some companies, particularly smaller or newer players, from entering the market. This can lead to limited competition and may impact the pace of innovation in the field of pen needles.

Another regulatory hurdle is the variation in requirements across different regions. What may be considered acceptable in one country may not meet the standards of another. This discrepancy can force manufacturers to make modifications and adjustments to their products to meet the specific regulatory requirements of each market, further adding to costs and time to market.

Key Market Trends

Growing Patient-Centric Approach

The Global Pen Needles Market is experiencing a significant boost, thanks to the growing patient-centric approach in the healthcare industry. This shift places patients at the heart of their healthcare journey, empowering them to actively participate in managing their conditions, and pen needles have emerged as essential tools in this patient-centric model.

Pen needles are designed with user-friendliness in mind, offering a simple and discreet means of insulin delivery. This aligns perfectly with the patient-centric approach, as it allows individuals with diabetes to self-administer insulin injections with confidence and ease, putting them in control of their treatment. The convenient and precise nature of pen needles enhances the overall patient experience, making them a preferred choice for patients and healthcare providers alike.

Patients now have more options for managing their diabetes in a way that suits their lifestyle, thanks to the discreet and portable nature of pen needles. This flexibility allows individuals to seamlessly incorporate diabetes management into their daily routines, resulting in improved adherence to treatment plans and better overall health outcomes.

Moreover, the patient-centric approach emphasizes the importance of individualized care and tailoring treatments to each patient's unique needs. Pen needles support this philosophy by offering a range of options, such as different needle lengths and safety mechanisms, enabling patients to select the device that best suits their requirements and preferences. This personalized approach to insulin delivery enhances patient satisfaction and compliance.

Rising Prevalence of Insulin Therapy

The Global Pen Needles Market is experiencing a significant boost due to the rising prevalence of insulin therapy, a direct consequence of the increasing number of individuals diagnosed with diabetes. As the global diabetes epidemic continues to unfold, more people are requiring insulin therapy to manage their condition effectively, and pen needles are playing a pivotal role in facilitating this essential treatment.

Insulin is a critical hormone for regulating blood sugar levels, and individuals with diabetes, whether type 1 or type 2, rely on insulin therapy to maintain their health. With the prevalence of diabetes on the rise, the demand for insulin and insulin delivery devices, such as pen needles, has seen a substantial increase. This growing patient population requiring insulin treatment has created a significant market for pen needles.

Pen needles are recognized for their convenience, ease of use, and precise insulin delivery, making them an attractive choice for individuals who need insulin therapy. The user-friendly design of pen needles enables patients to self-administer insulin injections with confidence and minimal discomfort. As a result, patients are more likely to adhere to their treatment plans, leading to better glycemic control and improved overall health outcomes.

Furthermore, pen needles offer an efficient and discreet means of insulin delivery, allowing patients to seamlessly incorporate diabetes management into their daily routines. The portable and versatile nature of pen needles means that individuals can administer insulin injections wherever they are, ensuring that they can adhere to their prescribed treatment regimen without disruption.

The prevalence of insulin therapy has not only led to a surge in the demand for pen needles but has also fueled innovation and advancements in pen needle technology. Manufacturers are continually improving and expanding their product offerings to cater to the diverse needs of patients requiring insulin therapy. This, in turn, contributes to the growth of the Global Pen Needles Market, as patients and healthcare providers seek out the latest and most effective insulin delivery solutions.

Segmental Insights

Application Insights

Based on the Application, Insulin Therapy emerged as the dominant segment in the global market for Global Pen Needles Market in 2023. diabetes is a widespread global health concern with a rapidly increasing prevalence. It is estimated that millions of individuals worldwide require insulin therapy to manage their blood sugar levels effectively. Both type 1 and type 2 diabetes often necessitate insulin treatment at some point in the disease progression. As the number of people diagnosed with diabetes continues to rise, the demand for insulin therapy, and by extension, insulin delivery devices like pen needles, increases substantially. Insulin is the primary therapy for individuals with type 1 diabetes, a condition where the body does not produce insulin. It is also a common treatment for many people with type 2 diabetes, especially when oral medications or other injectable medications are insufficient in controlling blood sugar levels. This widespread reliance on insulin therapy makes it the most prevalent and high-demand application for pen needles.

Mode of Purchase Insights

Based on the Mode of Purchase, Prescription-based emerged as the dominant segment in the global market for Global Pen Needles Market in 2023. Diabetes management often requires close monitoring and adjustments to insulin dosages and injection techniques. Prescription-based purchases involve consultations with healthcare professionals who can guide patients on the correct use of pen needles. This guidance is vital for ensuring patient safety and the effectiveness of insulin therapy. Healthcare providers can tailor prescriptions to suit an individual's specific needs, such as the type of pen needle, needle length, and safety features, ensuring a more personalized approach to diabetes care. In many countries, pen needles are considered medical devices, and their sale is subject to regulatory oversight. Healthcare authorities often require a prescription from a licensed healthcare provider, such as a doctor or nurse practitioner, for the purchase of pen needles.


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Regional Insights

North America emerged as the dominant player in the Global Pen Needles Market in 2023, holding the largest market share. North America has one of the highest diabetes prevalence rates globally. The United States, in particular, has a significant population living with diabetes, which drives the demand for insulin therapy and, consequently, pen needles. The high number of diabetes cases creates a substantial market for insulin delivery devices, making North America a prominent player in the Global Pen Needles Market. The region is home to some of the world's leading pharmaceutical and medical device companies. These companies play a pivotal role in the development, manufacturing, and distribution of pen needles. Their extensive presence and research efforts contribute to the innovation and accessibility of pen needles in the North American market.

Recent Developments

  • In April 2022, Embecta Corp. (US) successfully executed its spin-off from Becton, Dickinson and Company (US), commencing its operations as an independent, specialized diabetes care company with a global presence.
  • In February 2021, UltiMed, Inc. (US) introduced UltiCare safety pen needles in two variants, measuring 5mm 30G and 8mm 30G. Concurrently, in January 2021, the NHS (UK) selected Owen Mumford (UK) as its exclusive provider of safety pen needles. Under this collaboration, Owen Mumford's pen needles will be the designated choice for all NHS Wales hospitals.

Key Market Players

  • Embecta Corp
  • Novo Nordisk A/S
  • Ypsomed Holding Ag
  • B. Braun Melsungen Ag
  • Terumo Corporation
  • Nipro Corporation
  • Owen Mumford
  • Hindustan Syringes And Medical Devices
  • Allison Medical, Inc.
  • Berpu Medical Technology

 By Application

By Mode of Purchase

By End User

By Region

  • Insulin Therapy
  • GLP-1 Therapy
  • Growth Hormone Therapy
  • Osteoporosis
  • Other Applications
  • Prescription-based
  • Over the Counter
  • Online Purchase
  • Other
  • Hospitals & Clinics
  • Ambulatory surgical Services
  • Other
  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa

 

Report Scope:

In this report, the Global Pen Needles Market   has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Global Pen Needles Market, By Application:

o   Insulin Therapy

o   GLP-1 Therapy

o   Growth Hormone Therapy

o   Osteoporosis

o   Other Applications

  • Global Pen Needles Market, By Mode of Purchase:

o   Prescription-based

o   Over the Counter

o   Online Purchase

o   Other

  • Global Pen Needles Market, By End User:

o   Hospitals & Clinics

o   Ambulatory surgical Services

o   Other

  • Global Pen Needles Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  France

§  United Kingdom

§  Italy

§  Germany

§  Spain

o   Asia-Pacific

§  China

§  India

§  Japan

§  Australia

§  South Korea

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Pen Needles Market.

Available Customizations:

Global Pen Needles Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global Pen Needles Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]               

Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.     Markets Covered

1.2.2.     Years Considered for Study

1.2.3.     Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Overview of the Market

3.2.  Overview of Key Market Segmentations

3.3.  Overview of Key Market Players

3.4.  Overview of Key Regions/Countries

3.5.  Overview of Market Drivers, Challenges, Trends

4.    Global Pen Needles Market Outlook

4.1.  Market Size & Forecast

4.1.1.     By Value

4.2.  Market Share & Forecast

4.2.1.     By Application (Insulin Therapy, GLP-1 Therapy, Growth Hormone Therapy, Osteoporosis, Other Applications)

4.2.2.     By Mode of Purchase (Prescription-based, Over the Counter, Online Purchase, Other)

4.2.3.     By End User (Hospitals & Clinics, Ambulatory surgical Services, Other)

4.2.4.     By Region

4.2.5.     By Company (2023)

4.3.  Market Map

4.3.1.     By Application

4.3.2.     By Mode of Purchase

4.3.3.     By End User

4.3.4.     By Region

5.    Asia Pacific Pen Needles Market Outlook

5.1.  Market Size & Forecast

5.1.1.     By Value

5.2.  Market Share & Forecast

5.2.1.     By Application

5.2.2.     By Mode of Purchase

5.2.3.     By End User

5.2.4.     By Country

5.3.  Asia Pacific: Country Analysis

5.3.1.     China Pen Needles Market Outlook

5.3.1.1.         Market Size & Forecast

5.3.1.1.1.             By Value

5.3.1.2.         Market Share & Forecast

5.3.1.2.1.             By Application

5.3.1.2.2.             By Mode of Purchase

5.3.1.2.3.             By End User

5.3.2.     India Pen Needles Market Outlook

5.3.2.1.         Market Size & Forecast

5.3.2.1.1.             By Value

5.3.2.2.         Market Share & Forecast

5.3.2.2.1.             By Application

5.3.2.2.2.             By Mode of Purchase

5.3.2.2.3.             By End User

5.3.3.     Australia Pen Needles Market Outlook

5.3.3.1.         Market Size & Forecast

5.3.3.1.1.             By Value

5.3.3.2.         Market Share & Forecast

5.3.3.2.1.             By Application

5.3.3.2.2.             By Mode of Purchase

5.3.3.2.3.             By End User

5.3.4.     Japan Pen Needles Market Outlook

5.3.4.1.         Market Size & Forecast

5.3.4.1.1.             By Value

5.3.4.2.         Market Share & Forecast

5.3.4.2.1.             By Application

5.3.4.2.2.             By Mode of Purchase

5.3.4.2.3.             By End User

5.3.5.     South Korea Pen Needles Market Outlook

5.3.5.1.         Market Size & Forecast

5.3.5.1.1.             By Value

5.3.5.2.         Market Share & Forecast

5.3.5.2.1.             By Application

5.3.5.2.2.             By Mode of Purchase

5.3.5.2.3.             By End User

6.    Europe Pen Needles Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Value

6.2.  Market Share & Forecast

6.2.1.     By Application

6.2.2.     By Mode of Purchase

6.2.3.     By End User

6.2.4.     By Country

6.3.  Europe: Country Analysis

6.3.1.     France Pen Needles Market Outlook

6.3.1.1.         Market Size & Forecast

6.3.1.1.1.             By Value

6.3.1.2.         Market Share & Forecast

6.3.1.2.1.             By Application

6.3.1.2.2.             By Mode of Purchase

6.3.1.2.3.             By End User

6.3.2.     Germany Pen Needles Market Outlook

6.3.2.1.         Market Size & Forecast

6.3.2.1.1.             By Value

6.3.2.2.         Market Share & Forecast

6.3.2.2.1.             By Application

6.3.2.2.2.             By Mode of Purchase

6.3.2.2.3.             By End User

6.3.3.     Spain Pen Needles Market Outlook

6.3.3.1.         Market Size & Forecast

6.3.3.1.1.             By Value

6.3.3.2.         Market Share & Forecast

6.3.3.2.1.             By Application

6.3.3.2.2.             By Mode of Purchase

6.3.3.2.3.             By End User

6.3.4.     Italy Pen Needles Market Outlook

6.3.4.1.         Market Size & Forecast

6.3.4.1.1.             By Value

6.3.4.2.         Market Share & Forecast

6.3.4.2.1.             By Application

6.3.4.2.2.             By Mode of Purchase

6.3.4.2.3.             By End User

6.3.5.     United Kingdom Pen Needles Market Outlook

6.3.5.1.         Market Size & Forecast

6.3.5.1.1.             By Value

6.3.5.2.         Market Share & Forecast

6.3.5.2.1.             By Application

6.3.5.2.2.             By Mode of Purchase

6.3.5.2.3.             By End User

7.    North America Pen Needles Market Outlook

7.1.  Market Size & Forecast

7.1.1.     By Value

7.2.  Market Share & Forecast

7.2.1.     By Application

7.2.2.     By Mode of Purchase

7.2.3.     By End User

7.2.4.     By Country

7.3.  North America: Country Analysis

7.3.1.     United States Pen Needles Market Outlook

7.3.1.1.         Market Size & Forecast

7.3.1.1.1.             By Value

7.3.1.2.         Market Share & Forecast

7.3.1.2.1.             By Application

7.3.1.2.2.             By Mode of Purchase

7.3.1.2.3.             By End User

7.3.2.     Mexico Pen Needles Market Outlook

7.3.2.1.         Market Size & Forecast

7.3.2.1.1.             By Value

7.3.2.2.         Market Share & Forecast

7.3.2.2.1.             By Application

7.3.2.2.2.             By Mode of Purchase

7.3.2.2.3.             By End User

7.3.3.     Canada Pen Needles Market Outlook

7.3.3.1.         Market Size & Forecast

7.3.3.1.1.             By Value

7.3.3.2.         Market Share & Forecast

7.3.3.2.1.             By Application

7.3.3.2.2.             By Mode of Purchase

7.3.3.2.3.             By End User

8.    South America Pen Needles Market Outlook

8.1.  Market Size & Forecast

8.1.1.     By Value

8.2.  Market Share & Forecast

8.2.1.     By Application

8.2.2.     By Mode of Purchase

8.2.3.     By End User

8.2.4.     By Country

8.3.  South America: Country Analysis

8.3.1.     Brazil Pen Needles Market Outlook

8.3.1.1.         Market Size & Forecast

8.3.1.1.1.             By Value

8.3.1.2.         Market Share & Forecast

8.3.1.2.1.             By Application

8.3.1.2.2.             By Mode of Purchase

8.3.1.2.3.             By End User

8.3.2.     Argentina Pen Needles Market Outlook

8.3.2.1.         Market Size & Forecast

8.3.2.1.1.             By Value

8.3.2.2.         Market Share & Forecast

8.3.2.2.1.             By Application

8.3.2.2.2.             By Mode of Purchase

8.3.2.2.3.             By End User

8.3.3.     Colombia Pen Needles Market Outlook

8.3.3.1.         Market Size & Forecast

8.3.3.1.1.             By Value

8.3.3.2.         Market Share & Forecast

8.3.3.2.1.             By Application

8.3.3.2.2.             By Mode of Purchase

8.3.3.2.3.             By End User

9.    Middle East and Africa Pen Needles Market Outlook

9.1.  Market Size & Forecast

9.1.1.     By Value

9.2.  Market Share & Forecast

9.2.1.     By Application

9.2.2.     By Mode of Purchase

9.2.3.     By End User

9.2.4.     By Country

9.3.  MEA: Country Analysis

9.3.1.     South Africa Pen Needles Market Outlook

9.3.1.1.         Market Size & Forecast

9.3.1.1.1.             By Value

9.3.1.2.         Market Share & Forecast

9.3.1.2.1.             By Application

9.3.1.2.2.             By Mode of Purchase

9.3.1.2.3.             By End User

9.3.2.     Saudi Arabia Pen Needles Market Outlook

9.3.2.1.         Market Size & Forecast

9.3.2.1.1.             By Value

9.3.2.2.         Market Share & Forecast

9.3.2.2.1.             By Application

9.3.2.2.2.             By Mode of Purchase

9.3.2.2.3.             By End User

9.3.3.     UAE Pen Needles Market Outlook

9.3.3.1.         Market Size & Forecast

9.3.3.1.1.             By Value

9.3.3.2.         Market Share & Forecast

9.3.3.2.1.             By Application

9.3.3.2.2.             By Mode of Purchase

9.3.3.2.3.             By End User

10.  Market Dynamics

10.1.              Drivers

10.2.              Challenges

11.  Market Trends & Developments

11.1.              Recent Developments

11.2.              Product Launches

11.3.              Mergers & Acquisitions

12.  Global Pen Needles Market: SWOT Analysis

13.  Porter’s Five Forces Analysis

13.1.              Competition in the Industry

13.2.              Potential of New Entrants

13.3.              Power of Suppliers

13.4.              Power of Customers

13.5.              Threat of Substitute Product

14.  Competitive Landscape

14.1.         Embecta Corp

14.1.1.           Business Overview

14.1.2.           Company Snapshot

14.1.3.           Products & Services

14.1.4.           Financials (In case of listed)

14.1.5.           Recent Developments

14.1.6.           SWOT Analysis

14.2.    Novo Nordisk A/S

14.3.    Ypsomed Holding Ag

14.4.    B. Braun Melsungen Ag

14.5.    Terumo Corporation

14.6.    Nipro Corporation

14.7.    Owen Mumford

14.8.    Hindustan Syringes And Medical Devices

14.9.    Allison Medical, Inc.

14.10.  Berpu Medical Technology

15.  Strategic Recommendations

16. About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The market size of the Global Pen Needles Market was estimated to be USD 2.86 billion in 2023.

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Embecta Corp, Novo Nordisk A/S, Ypsomed Holding Ag, B. Braun Melsungen Ag, Terumo Corporation, Nipro Corporation, Owen Mumford, Hindustan Syringes And Medical Devices, Allison Medical, Inc., Berpu Medical Technology, etc. are some of the key players operating in the Global Pen Needles Market.

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Increasing competition and the need to continuously innovate. Regulatory complexities in various regions also signify a major challenge for the Global Pen Needles Market.

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Rising prevalence of diabetes and ongoing technological advancements in insulin delivery devices. A patient-centric approach to healthcare, coupled with growing awareness of diabetes management, are major factors boosting the Global Pen Needles Market.

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Sakshi Bajaal

Business Consultant
Press Release

Pen Needles Market to Grow with a CAGR of 7.58% through 2029

Feb, 2024

Rising prevalence of diabetes are expected to drive the Global Pen Needles Market growth in the forecast period, 2025-2029.