Report Feature
Pen Needle Market Trends and Forecast
The future of the global pen needle market looks promising with opportunities in the standard pen needle and safety pen needle markets. The global pen needle market is expected to reach an estimated $6.2 billion by 2028 with a CAGR of 12% from 2023 to 2028. The major drivers for this market are growing preference for pen needles over syringes and bottles along with increasing prevalence of chronic diseases and shifting towards minimally invasive surgery.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Pen Needle Market by Segment
The study includes a forecast for the global pen needle market by product, therapy, and region, as follows:
Pen Needle Market by Product [Value ($B) Shipment Analysis from 2017 to 2028]:
- Standard Pen Needles
- Safety Pen Needles
Pen Needle Market by Therapy [Value ($B) Shipment Analysis from 2017 to 2028]:
- Insulin
- Glucagon-like-Peptide-1 (GLP-1)
- Growth Hormone Therapy
Pen Needle Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:
- North America
- Europe
- Asia Pacific
- The Rest of the World
List of Pen Needle Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies pen needle companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the pen needle companies profiled in this report include.
- Novo Nordisk
- Becton Dickinson and Company
- Terumo Corp
- Owen Mumford
- Ypsomed
- B. Braun Melsungen
- HTL-STREFA
- UltiMed
- Allison Medical
- Artsana S.p.A
Pen Needle Market Insights
- Lucintel forecast that standard pen needles will remain the largest product segment over the forecast period because it is used by diabetic patient on daily basis and these needles are most often used at homes.
- Insulin is projected to record the highest growth due to rising awareness of self-administration of insulin and possess the ability to decrease patients' blood glucose levels.
- APAC will remain the largest region due to increasing health expenditure and rising prevalence of the diabetes in this region.
Features of the Pen Needle Market
- Market Size Estimates: Pen needle market size estimation in terms of value ($B)
- Trend And Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
- Segmentation Analysis: Pen needle market size by various segments, such as by product, therapy, and region
- Regional Analysis: Pen needle market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
- Growth Opportunities: Analysis on growth opportunities in different by product, therapy, and regions for the pen needle market.
- Strategic Analysis: This includes M&A, new product development, and competitive landscape for the pen needle market.
- Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the pen needle market size?
Answer: The global pen needle market is expected to reach an estimated $6.2 billion by 2028.
Q2. What is the growth forecast for pen needle market?
Answer: The global pen needle market is expected to grow with a CAGR of 12.0% from 2023 to 2028.
Q3. What are the major drivers influencing the growth of the pen needle market?
Answer: The major drivers for this market are growing preference for pen needles over syringes and bottles along with increasing prevalence of chronic diseases and shifting towards minimally invasive surgery.
Q4. What are the major segments for pen needle market?
Answer: The future of the pen needle market looks promising with opportunities in the standard pen needle and safety pen needle markets.
Q5. Who are the key pen needle companies?
Answer: Some of the key pen needle companies are as follows:
Answer: The global pen needle market is expected to reach an estimated $6.2 billion by 2028.
Q2. What is the growth forecast for pen needle market?
Answer: The global pen needle market is expected to grow with a CAGR of 12.0% from 2023 to 2028.
Q3. What are the major drivers influencing the growth of the pen needle market?
Answer: The major drivers for this market are growing preference for pen needles over syringes and bottles along with increasing prevalence of chronic diseases and shifting towards minimally invasive surgery.
Q4. What are the major segments for pen needle market?
Answer: The future of the pen needle market looks promising with opportunities in the standard pen needle and safety pen needle markets.
Q5. Who are the key pen needle companies?
Answer: Some of the key pen needle companies are as follows:
- Novo Nordisk
- Becton Dickinson and Company
- Terumo Corp
- Owen Mumford
- Ypsomed
- B. Braun Melsungen
- HTL-STREFA
- UltiMed
- Allison Medical
- Artsana S.p.A
Q6. Which pen needle segment will be the largest in future?
Answer: Lucintel forecast that standard pen needles will remain the largest product segment over the forecast period because it is used by diabetic patient on daily basis and these needles are most often used at homes.
Q7. In pen needle market, which region is expected to be the largest in next 5 years?
Answer: APAC will remain the largest region due to increasing health expenditure and rising prevalence of the diabetes in this region.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.
Answer: Lucintel forecast that standard pen needles will remain the largest product segment over the forecast period because it is used by diabetic patient on daily basis and these needles are most often used at homes.
Q7. In pen needle market, which region is expected to be the largest in next 5 years?
Answer: APAC will remain the largest region due to increasing health expenditure and rising prevalence of the diabetes in this region.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.
