North America Safety Pen Needles Market Competitive Analysis with Forecast to 2031

North America Safety Pen Needles Market Outlook 2031

The North America safety pen needles market was valued at US$ 626.4 Mn in 2021

It is projected to grow at a CAGR of 6.4% from 2022 to 2031

The North America safety pen needles market is anticipated to reach more than US$ 1.17 Bn by the end of 2031

North America Safety Pen Needles Market Introduction

Safety pen needles are sterile, single-use needles intended for usage with pen injector devices for the injection of drugs. Safety hypodermic needles sometimes cause Needle Stick Injuries (NSIs). Introduction of safety pen needles, with incorporated sharps injury prevention features, reduces the risk of injury and spread of infectious diseases. NSIs are one of the common health hazards in the healthcare setting. According to the World Health Organization, about 3 million of the 35 million healthcare workers worldwide are exposed to blood-borne pathogens annually.

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Adoption of hypodermic syringes with safety devices helps reduce cases of NSIs among healthcare workers. Pen needles are often implicated in the risk of sharps injury, as they are used widely by diabetic patients as well as healthcare workers giving subcutaneous injections to patients. Pen needles with automatic protective safety features minimize the risk of exposure to blood-borne infections associated with NSIs such as hepatitis B, hepatitis C, and HIV, without any related adverse events.

Rise in Prevalence of Diabetes Driving North America Safety Pen Needles Market Size

Prevalence of diabetes is expected to increase exponentially in North America in the near future, due to significant changes in lifestyle and rise in cases of malnutrition and genetic mutations in the region. According to the Centers for Disease Control and Prevention (CDC), in 2018, 10.5% of the U.S. population was suffering from diabetes, which accounted for around 34.2 million people, including 26.9 million people who were diagnosed and 7.3 million people who remained undiagnosed. Additionally, 34.5% of the adult U.S. population is suffering from pre-diabetes, which accounts for 88 million people aged 18 years or older, including 24.2 million people aged 65 years or older. Most of the people in the U.S. with insulin-requiring diabetes, totaling more than 5 million, use pen injector needles in their diabetes management regimen.

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Increase in Incidence of Pediatric and Geriatric Diabetes in North America

The global population is aging rapidly, especially in developed economies such as the U.S. According to the World Health Organization (WHO), the global geriatric population is likely to reach around 2 billion (22% of the global population) by 2050 compared to 900 million in 2015. According to CDC's 2018 estimates, the incidence rate of diagnosed diabetes was higher among adults aged 45 to 64 years and those aged 65 years and older than in adults aged 18 to 44 years. More than 25% of diabetic patients in the U.S. are aged 65 years and above, as per the American Diabetes Association.

Prevalence of diabetes in pediatric population is gradually increasing in North America. According to the American Diabetes Association, the annual incidence of diagnosed diabetes in the U.S. in people under the age of 20 years was estimated at 18,200 with type 1 diabetes and 5,800 with type 2 diabetes. Thus, rise in prevalence of diabetes among the pediatric and geriatric population is expected to fuel the North America safety pen needles market during the forecast period.

Rise in Adoption of 5 mm Safety Pen Needles Among Diabetes Patients

In terms of needle length, the North America safety pen needles market has been segmented into 4 mm, 5 mm, 6 mm, and 8 mm. The 5 mm segment dominated the market in the region, with around 55% share in 2021. Growth of the segment can be ascribed to the increase in adoption of 5 mm safety pen needles among diabetes patients. However, the usage of these needles is likely to decline in the next few years due to the rise in demand for shorter needles that cause lesser pain and enable easier insulin administration.

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Growth in Prevalence of Diabetes in North America Propelling Insulin Segment

Based on therapy, the North America safety pen needles market has been divided into insulin, glucagon-like peptide-1, and growth hormone. The insulin segment held around 75% share of the market in the region in 2021. According to the recent North America safety pen needles market forecast, the trend is projected to continue during 2022 to 2031, due to the rise in prevalence of diabetes in the region. As per the American Diabetes Association, 34.2 million people in the U.S., or 10.5% of the population, had diabetes in 2018. 1.5 million people in the U.S. are diagnosed with diabetes annually.

Country-wise Outlook of North America Safety Pen Needles Market

The U.S. dominated the market for safety pen needles in North America in 2021, owing to the presence of key players in the country such as Becton Dickinson and Company, Montmed Inc., UltiMed, Inc., and Arkray USA, Inc. Additionally, the U.S. offers significant opportunities in safety pen needles devices manufacturing, as developing countries are major buyers of high-quality pen needles devices that are priced economically. Introduction of technologically advanced pen needles devices is anticipated to augment the market in the U.S. during the forecast period.

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Analysis of Key Players in North America Safety Pen Needles Market

The North America safety pen needles market report concludes with the company profiles section that includes key information about major players in the market. Key players are focusing on product launches, mergers & acquisitions, partnerships, and collaborations to enhance their safety pen needles market share. Becton, Dickinson and Company, Montmed Inc., UltiMed, Inc., Arkray USA, Inc., McKesson Medical-Surgical Inc., Links Medical Products Inc., and Allison Medical Inc. are prominent players operating in this market.

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