Pen Needles Market to Witness Huge Growth by 2031 - Becton, Dickinson and Company, Novo Nordisk A/S, B. Braun Melsungen AG

Global Pen Needles Market reached US$ 3.5 billion in 2023 and is expected to reach US$ 8.5 billion by 2031, growing with a CAGR of 11.8% during the forecast period 2024-2031.

The global pen needles market is growing due to the increasing number of diabetes patients and advancements in needle technology, such as ultra-thin needles and improved safety features. The trend towards self-care in diabetes management has boosted demand for pen needles, offering greater convenience for patients. North America leads in market share due to advanced medical facilities, while Asia-Pacific, particularly China, Japan, and India, is seeing rapid growth. For example, in September 2022, Terumo India launched FineGlide, a pen needle for insulin injections.

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Market Trends:

The growing prevalence of chronic diseases like diabetes, cardiovascular disease, and cancer has increased demand for pen needles, as these conditions often require regular drug administration. Pen injectors, favored for their ease of use, allow patients to self-administer medications. For example, HMD launched Dispovan insulin pen needles in India, where 74 million people suffer from diabetes. Additionally, smart insulin pens, which track doses and connect to smartphone apps, improve diabetes management by promoting medication adherence and simplifying insulin dosing.

Segment Covered in the Pen Needles Market:

By Product Type: Standard Pen Needles, Safety Pen Needles
By Length: 4mm, 5mm, 6mm, 8mm, 10mm, 12mm
By Application: Insulin Therapy, Glucagon-Like Peptide-1, Growth Hormone Therapy, Others
By Distribution Channel: Retail Pharmacy, Hospital Pharmacy, Online Pharmacy

Regional Analysis:

The global Pen Needles Market report focuses on six major regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa.

The global Pen Needles Market report focuses on six major regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. The report offers detailed insight into new product launches, new technology evolutions, innovative services, and ongoing R&D. The report discusses a qualitative and quantitative market analysis, including PEST analysis, SWOT analysis, and Porter's five force analysis. The Pen Needles Market report also provides fundamental details such as raw material sources, distribution networks, methodologies, production capacities, industry supply chain, and product specifications.

Major Key Players

• Becton, Dickinson and Company
• Novo Nordisk A/S
• B. Braun Melsungen AG
• Owen Mumford
• Terumo Corporation
• Nipro Corporation
• Allison Medical
• AdvaCare Pharma
• Berpu Medical Technology
• Trividia Health

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