Global Demand For Pen Needles To Surpass US$ 5.2 Billion By The End Of 2031

The global pen needles market was valued at USD 1.2 billion in 2021 and it is anticipated to grow up to USD 5.2 billion by 2031, at a CAGR of 15.8% during the forecast period.

Pen needles use injection pens to deliver injectable medications into the body. These devices contain a hollow needle with a plastic hub attached to the injection pens, which are of varying lengths and diameter. Injection pen and pen needles are an alternative drug delivery method to the traditional vial/syringe method.

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Market Trends and Drivers

Growing prevalence of chronic diseases will positively impact the market growth. The prevalence of chronic diseases has increased significantly in the last few years. Such diseases-including diabetes, osteoporosis, cardiovascular disease (CVD), and multiple sclerosis-require daily or weekly drug administration, typically using pen injectors. In the rapidly growing market, pen injectors have become the new standard for injectable drug delivery systems. Their popularity has soared due to their simplicity, reliability, and ability to be administered directly by the patient without the aid of a physician. The pen needle, a removable attachment, forms an integral part of the pen injector. The length of the needle and its sharpness is critical to ensure that the medication reaches the target tissues. Thus, the growing prevalence of chronic diseases has led to a greater focus on pen needle technologies to effectively handle the growing patient pool and increase patient compliance with therapies.

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Global Pen Needles Market Segmentation

Product

• Standard Pen Needles
• Safety Pen Needles

Needle Length

• 4 mm
• 5 mm
• 6 mm
• 8 mm
• 10 mm
• 12 mm

Therapy

• Insulin
• Glucagon-like-Peptide-1 (GLP-1)
• Growth Hormone

Major Players in the Global Pen Needles Market

The key players in the market are 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), and Berpu Medical Technology (China), among others.

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