Pen Needles Market Forecast and Competitive Analysis by Therapy Type, Needle Length, Purchase Mode, and Regional Performance Through 2031

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Pen Needles Market- (By Type (Standard Pen Needles, Safety Pen Needles), By Length (4 mm, 5 mm, 6 mm, 8 mm, 10 mm, 12 mm), By Mode of Purchase (Retail, Non-retail), By Therapy (Insulin, Glucagon-Like Peptide-1, Growth Hormone, Other therapies)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

According to the latest research by InsightAce Analytic, the Global Pen Needles Market is valued at US$ 1.37 Bn in 2022, and it is expected to reach US$ 3.43 Bn by 2031, with a CAGR of 10.8% during a forecast period of 2023-2031.

Get Free Access to Demo Report, Excel Pivot and ToC: https://www.insightaceanalytic.com/request-sample/2733

Pen needles are specifically designed for use with pen injector devices for subcutaneous insulin delivery, primarily by individuals with diabetes who require multiple daily insulin injections. The market for pen needles is experiencing significant growth due to several factors, including the rising prevalence of diabetes, increased demand for self-administration of injectable medications, the availability of a diverse range of pen needles tailored to meet specific patient needs, and a growing emphasis on home healthcare and self-care. Additionally, the advantages of pen needles over traditional syringes, combined with heightened awareness and the widespread adoption of injector pens, are further driving the demand for pen needles, contributing to the market's expansion.

Moreover, technological innovations in the manufacturing of pen needles, particularly advancements in safety features, along with increased investments from key industry players in the development of advanced pen needle technologies (such as the BD Nano 2nd Gen Pen Needles designed for less painful injections), are accelerating market growth. The widespread availability of pen needles through various distribution channels, including drugstores, online platforms, and hospital pharmacies, also plays a crucial role in supporting the market's growth trajectory.

List of Prominent Players in the Pen Needles Market:
• Becton, Dickinson, and Company (US),
• Novo Nordisk A/S (Denmark),
• Ypsomed Holding AG (Switzerland),
• B. Braun Melsungen AG (Germany),
• Owen Mumford (UK),
• Terumo Corporation (Japan),
• Nipro Corporation (Japan)
• Allison Medical (US),
• AdvaCare Pharma (US),
• Berpu Medical Technology (China),
• ARKRAY (Japan),
• GlucoRx (UK),
• HTL-STREFA (Poland),
• UltiMed, (US),
• Hindustan Syringes and Medical Devices (India),
• Artsana Group (Italy),
• PromiseMed Diabetes Care (Canada),
• Montmed (Canada),
• Trividia Health (US),
• VOGT Medical Vertrieb (Germany),
• Van Heek Medical (Netherlands),
• Simple Diagnostics (US),
• Lyon (Turkey),
• Links Medical Products (US),
• MHC Medical Products (US)

Expert Knowledge, Just a Click Away: https://calendly.com/insightaceanalytic/30min?month=2025-02

Market Dynamics:
Drivers:
The prevalence of chronic diseases has surged significantly in recent years, with conditions such as diabetes, cardiovascular disease (CVD), and multiple sclerosis requiring frequent drug administration, often through pen injectors. Pen injectors have become the preferred method for delivering injectable medications in the rapidly growing healthcare market. Their popularity is attributed to their ease of use, reliability, and the ability for patients to self-administer the medication without requiring assistance from healthcare professionals. The pen needle, a detachable component, plays a critical role in ensuring the medication reaches the target tissue, with the needle's length and sharpness being essential for effective drug delivery. As the incidence of chronic diseases rises, the demand for advanced pen needle technologies has increased, driving improvements in patient compliance and the effective management of growing patient populations.

Challenges:
Despite the convenience of pen needles, they are associated with potential risks, including needlestick injuries, infections, hyperglycemia, and patient discomfort. Insulin pen therapy, for instance, has been shown to cause hyperglycemia in some patients due to the inability to precisely control the dosage. This has led to a shift in diabetes treatment in Europe, where insulin pumps have gained preference over insulin pens, as they offer automated insulin suspension and a reduced risk of hypoglycemia. This shift presents a significant challenge to the growth of the pen needle market. Although needle-free drug delivery technologies have partially addressed these concerns, their application remains limited.

Regional Trends:
The Asia Pacific (APAC) region is anticipated to witness substantial growth in the pen needle market over the forecast period. This growth is driven by the increasing preference for pen needles over traditional syringes and vials, as well as a rising elderly population. China, in particular, is emerging as a promising market within APAC. The growing incidence of diabetes in the region is a primary driver of market expansion in China. According to the "Guidelines for the Prevention and Treatment of Diabetes in China (2020 Edition)," the current prevalence of diabetes among adults is 11.2%, with an estimated 141 million people affected, of whom 51.7% remain undiagnosed.

Unlock Your GTM Strategy: https://www.insightaceanalytic.com/customisation/2733

Recent Developments:
• In February 2023, Montmed, Inc. announced, the United States Patent and Trademark Office has issued a second US Patent 11,517,659, expanding the company's novel technology patent family that aims to help insulin users develop and implement healthy injection site rotation practices easily and seamlessly.
• In May 2022, Owen Mumford Ltd. revealed its next-generation safety pen needle will join Unifine SafeControl to enhance its diabetic care products. The first safety pen needle, Unifine SafeControl, protects healthcare professionals from needlestick accidents and ensures the full medication dose is given.
• In Jan 2019, Becton Dickinson (BD) introduced the Ergonomic Pen Needle Technology with the aim of enhancing the efficiency of injection techniques. The BD Nano(TM) second generation pen needle has obtained 510(k) clearance from the U.S. Food and Drug Administration.

Segmentation of Pen Needles Market-
By Type-
• Standard Pen Needles
• Safety Pen Needles
By Length-
• 4 mm Pen Needle
• 5 mm Pen Needle
• 6 mm Pen Needle
• 8 mm Pen Needle
• 10 mm Pen Needle
• 12 mm Pen Needle
By Mode of Purchase-
• Retail
• Non-retail
By Therapy-
• Insulin
• Glucagon-Like Peptide-1
• Growth Hormone
• Other therapies
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

Contact us:
InsightAce Analytic Pvt. Ltd.
Visit: www.insightaceanalytic.com
Tel : +1 551 226 6109
Asia: +91 79 72967118
info@insightaceanalytic.com

This release was published on openPR.