According to the latest report by IMARC Group, titled “Pen Needles Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” The global pen needles market reached a value of US$2.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$6.5 Billion by 2027, exhibiting at a CAGR of 15.01% during 2022-2027.
Pen needles are injector pens that are used for delivering medication into the body of a patient. They consist of hollow needles embedded in a plastic body that is connected to the injection pen. Pen needles are used by health professionals and patients who are suffering from diabetes. Nowadays, they are available in a variety of needle lengths and diameters. Pen needles are manufactured with fine and thin point tips made by electro-polishing the needles to offer ease of use and penetration. They also have plastic caps for safety and lubrication for easy glide and less friction.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Trends:
The pen needles market is primarily driven by the rising prevalence of chronic and lifestyle diseases like diabetes, osteoporosis, cardiovascular diseases, and multiple sclerosis. In addition, pen needles are cost-effective, portable, and do not require refrigeration for daily or weekly drug administration through pen injectors. Besides this, pen injectors are gaining popularity as the new standard for injectable drug delivery systems due to their simplicity, reliability, and the ability to be administered directly by the patient without the aid of a physician. Furthermore, factors such as the rising geriatric population, inflating healthcare expenditure, and favorable government policies are some of the other factors that are expected to significantly impact the market in the coming years.
Breakup by Type:
- Standard Pen Needles
- Safety Pen Needles
Breakup by Needle Length:
- 4mm
- 5mm
- 6mm
- 8mm
- 10mm
- 12mm
Breakup by Therapy:
- Insulin
- GLP-1
- Growth Hormones
Breakup by Mode of Purchase:
- Retail
- Non-Retail
Breakup by End User:
- Hospitals and Clinics
- Home Healthcare
- Others
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- A. Menarini Diagnostics srl
- Advancare Pharma
- Arkray Inc
- B. Braun Melsungen AG
- Becton Dickinson and Company
- Hindustan Syringes & Medical Devices Ltd
- HTL Strefa SA
- Novo Nordisk A/S
- Owen Mumford Ltd
- Simple Diagnostics
- Trividia Health Inc. (Sinocare)
- Ultimed Inc
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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