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- Global Pen Needles Market – Size, Outlook, Trends and Forecast (2024 – 2032)
Pen needles are the type of devices which are used in conjunction with injection pens to deliver injectable medications into the body. It consists of a hollow needle which is embedded in a plastic hub and attaches to injection pens. There are a variety of needle lengths and diameters and are used by health professionals and patients for injection of a variety of medications.
Global Pen Needles Market Segments Size & Growth:
Global Pen Needles Market size is projected to reach approximately $2.93 billion by the end of 2024 with a CAGR of close to 11.21% from $1.69 billion in 2017 during the forecast timeline 2018-2024. Key parameters promoting the market growth include rising diabetes prevalence, a comparative advantage over syringes and vials, technological advancements, increasing awareness of the general public, government support in certain countries. However, reusability of pen needles, complications associated with needle use, availability of alternative dosage forms, poor reimbursement policies in underdeveloped and developing countries are thereby hampering the market growth.
Global Pen Needles Market Segments Share:
Global Pen Needles Market is categorised into therapy which comprises growth hormone, Insulin, and GLP-1. Among them, insulin therapy segment is expected to hold the most significant share in the market. By Type, the market is segmented into Standard Pen Needles and Safety Pen Needles. Among them, standard pen needles segment is expected to account for the most significant share in the pen needles market because of rising prevalence of diabetes and dysfunctionality of pancreas. By Needle Length, the market is segmented into 4mm, 6mm, 8mm, 10mm, and 12mm. Among them, 8mm needle length segment is expected to hold for the most significant share in the market. By Material, the market is segmented into Glass Needles, Plastic Needles, Stainless Steel/Metallic Needles, and Polyetheretherketone (PEEK) Needles. By Mode of Purchase, the market is segmented into Retail and Non-Retail. Among them, retail purchase mode segment is expected to hold the most significant share in the market. By Type of Therapy, the market is segmented into Glucagon-Like Peptides, Insulin, Growth Hormones, Others. By End-Users, the market is segmented into Hospitals, Diagnostic Centers, Home Healthcare, and Others. By Geography, Europe is estimated to account for the most significant share of 32.8% of the global pen needles market in 2017 due to the EU announcement to reduce sharp injuries in hospitals and the healthcare sector.
Global Pen Needles Market Trends:
- Novo Nordisk is planning to launch a new product called flex pro; the device is designed to hide the needle injecting Norditropin into patients. Norditropin is used for children and adolescents.
- Becton, Dickinson, and Company announced the introduction of the BD Ultra-Fine micro pen needle 6mm x 32G for use with leading pen injection devices.
Global Pen Needles Market Research Report:
An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.
To have complete market analysis, industry value chain analysis, Porter’s Five Force Analysis, PESTLE, SWOT analysis, and Y-o-Y analysis were carried to understand the market more comprehensively.
Regional and global diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year
Identifying DROC in the current market and their impact in altering the market dynamics.
Competitive landscape analysis to identify the mergers and acquisitions which will have a comparative financial study with significant competitors.
Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.
The primary market players, such as
- Becton, Dickinson, and Company
- Novo Nordisk A/S
- Ypsomed Holding AG
- UltiMed, Inc.
- Allison Medical, Inc.
Chapter 1 Introduction
1.1 Executive Summary
1.2 Market Definition
1.3 Scope of the Study
Chapter 2 Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Analytic Tools and Model
2.4 Economic Indicator
2.4.1 Base Year, Base Currency, Forecasting Period
2.5 Expert Validation
2.6 Study Timeline
Chapter 3 Market Analysis
3.1 Industry Value Chain Analysis
3.2Porter’s Five Force Analysis
3.2.1 Bargaining Power of Buyers
3.2.2 Bargaining Power of Suppliers
3.2.3 Threats of Substitutes
3.2.4 Threats of New Entrants
3.2.5 Industry Rivalry
3.3 PESTLE Analysis
3.3.1 Political
3.3.2 Economical
3.3.3 Social
3.3.4 Technological
3.3.5 Legal
3.3.6 Environmental
3.4 SWOT Analysis
3.4.1 Strengths
3.4.2 Weakness
3.4.3 Opportunities
3.4.4 Threats
3.5 Y-O-Y Analyses
Chapter 4 Market Dynamics
4.1. Drivers
4.1.1 Government Support in Certain Countries
4.1.2 Increasing Awareness of General Public
4.1.3 Technological Advancements
4.1.4 Comparative Advantage over Syringes and Vials
4.1.5 Rising Diabetes Prevalence
4.2 Restraints
4.2.1 Poor Reimbursement Policies in Underdeveloped and Developing Countries
4.2.2 Availability of Alternative Dosage Forms
4.2.3 Complications Associated with Needle Use
4.2.4 Reusability of Pen Needles
4.3 Opportunities
4.3.1 Rising Use of Safety Needles
4.3.2 Expanding Injectables Market
4.3.3 Rise in Self-Administration of Drugs
4.4 Challenges
4.4.1 Growing Focus on the Development of Alternative Drug Delivery Methods
4.4.2 Use of Needle-Free Injection Technology
Chapter 5 Global Pen Needles Market– By Therapy
5.1 Growth Hormone
5.2 Insulin
5,3 GLP-1
Chapter 6 Global Pen Needles Market– By Type
6.1 Standard Pen Needles
6.2 Safety Pen Needles
Chapter 7 Global Pen Needles Market- By Needle Length
7.1 4mm
7.2 6mm
7.3 8mm
7.4 10mm
7.5 12mm
Chapter 8 Global Pen Needles Market- By Material
8.1 Glass Needles
8.2 Plastic Needles
8.3 Stainless Steel/Metallic Needles
8.4 Polyetheretherketone (PEEK) Needles
Chapter 9 Global Pen Needles Market- By Mode of Purchase
9.1 Retail
9.2 Non-Retail
Chapter 10 Global Pen Needles Market- By Type of Therapy
10.1Glucagon-Like Peptides
10.2 Insulin
10.3 Growth Hormones
10.4 Others
Chapter 11 Global Pen Needles Market- By End-Users
11.1 Hospitals
11.2 Diagnostic Centers
11.3 Home Healthcare
11.4 Others
Chapter 12 Global Pen Needles Market- By Geography
12.1 Introduction
12.2 North America
12.2.1 U.S.
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 U.K.
12.3.2 Germany
12.3.3 France
12.3.4 Italy
12.3.5 Spain
12.3.6. Rest of Europe
12.4 APAC
12.4.1 China
12.4.2 Japan
12.4.3 India
12.4.4 South Korea
12.4.5 Australia & New Zealand
12.4.6 Rest of APAC
12.5 South America
12.5.1 Brazil
12.5.2 Argentina
12.5.3 Others
12.6 Middle East & Africa
12.6.1 Middle East
12.6.2 Africa
Chapter 13 Global Pen Needles Market- Company Profiles
13.1 Becton, Dickinson and Company
13.2 Novo Nordisk A/S
13.3 Ypsomed Holding AG
13.4 UltiMed, Inc.
13.5 Allison Medical, Inc.
13.6 Owen Mumford, Ltd.
13.7 B. Braun Melsungen
13.8 Artsana S.p.a.
13.9 HTL-STREFA S.A.
13.10 Terumo Corporation
13.11 Thermo Fisher Scientific Inc.
13.12 Sigma-Aldrich
13.13 Nipro Corporation
13.14 Smiths Medical
13.15 Olympus Corporation
Chapter 14 Global Pen Needles Market- Competitive Landscape
14.1. Market Share Analysis
14.2. Strategies Adopted by top companies
14.3. Mergers, Acquisitions, Collaborations & Agreements
Chapter 15 Market Insights
15.1. Industry Experts Insights
15.2. Analysts Opinions
15.3. Investment Opportunities
Chapter 16 Appendix
16.1 List of Tables
16.2 List of Figures
- Competitive Analysis in marketing and strategic management is an assessment of the strengths and weaknesses of current and potential competitors.
- Monitoring the external and internal factors which affect the market dynamics with the aid of PESTLE analysis.
- The Regional and Global Variety is taken care of in the report.
- Year on Year basis generation of revenue is studied.
- Porter's Five Forces analyze the intensity of competition in an industry and its profitability level.
- The overview and the sustainability of the market are analyzed through SWOT.
- DROC (Drivers, Restraints, Opportunities and Challenges) is recognized in the current market scenario and see how its effect on market dynamics.
- The segment-level analysis in terms of type and technology.
- The value chain analysis, value that's created and captured by a company is the profit margin.
- Value Created and Captured – Cost of Creating that Value = Margin
- An executive summary consists of the whole report and the outcome is been given in the report to have brief knowledge about the report.
- Basis on the depth of the study we approach using analytical tools
- Expertise investment opportunities are given after analyzing the market to give the organization and the individual to have perfect knowledge about the market.
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Pen needles are the type of devices which are used in conjunction with injection pens to deliver injectable medications into the body. It consists of a hollow needle which is embedded in a plastic hub and attaches to injection pens. There are a variety of needle lengths and diameters and are used by health professionals and patients for injection of a variety of medications.
Global Pen Needles Market Segments Size & Growth:
Global Pen Needles Market size is projected to reach approximately $2.93 billion by the end of 2024 with a CAGR of close to 11.21% from $1.69 billion in 2017 during the forecast timeline 2018-2024. Key parameters promoting the market growth include rising diabetes prevalence, a comparative advantage over syringes and vials, technological advancements, increasing awareness of the general public, government support in certain countries. However, reusability of pen needles, complications associated with needle use, availability of alternative dosage forms, poor reimbursement policies in underdeveloped and developing countries are thereby hampering the market growth.
Global Pen Needles Market Segments Share:
Global Pen Needles Market is categorised into therapy which comprises growth hormone, Insulin, and GLP-1. Among them, insulin therapy segment is expected to hold the most significant share in the market. By Type, the market is segmented into Standard Pen Needles and Safety Pen Needles. Among them, standard pen needles segment is expected to account for the most significant share in the pen needles market because of rising prevalence of diabetes and dysfunctionality of pancreas. By Needle Length, the market is segmented into 4mm, 6mm, 8mm, 10mm, and 12mm. Among them, 8mm needle length segment is expected to hold for the most significant share in the market. By Material, the market is segmented into Glass Needles, Plastic Needles, Stainless Steel/Metallic Needles, and Polyetheretherketone (PEEK) Needles. By Mode of Purchase, the market is segmented into Retail and Non-Retail. Among them, retail purchase mode segment is expected to hold the most significant share in the market. By Type of Therapy, the market is segmented into Glucagon-Like Peptides, Insulin, Growth Hormones, Others. By End-Users, the market is segmented into Hospitals, Diagnostic Centers, Home Healthcare, and Others. By Geography, Europe is estimated to account for the most significant share of 32.8% of the global pen needles market in 2017 due to the EU announcement to reduce sharp injuries in hospitals and the healthcare sector.
Global Pen Needles Market Trends:
- Novo Nordisk is planning to launch a new product called flex pro; the device is designed to hide the needle injecting Norditropin into patients. Norditropin is used for children and adolescents.
- Becton, Dickinson, and Company announced the introduction of the BD Ultra-Fine micro pen needle 6mm x 32G for use with leading pen injection devices.
Global Pen Needles Market Research Report:
An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.
To have complete market analysis, industry value chain analysis, Porter’s Five Force Analysis, PESTLE, SWOT analysis, and Y-o-Y analysis were carried to understand the market more comprehensively.
Regional and global diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year
Identifying DROC in the current market and their impact in altering the market dynamics.
Competitive landscape analysis to identify the mergers and acquisitions which will have a comparative financial study with significant competitors.
Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.
The primary market players, such as
- Becton, Dickinson, and Company
- Novo Nordisk A/S
- Ypsomed Holding AG
- UltiMed, Inc.
- Allison Medical, Inc.
Chapter 1 Introduction
1.1 Executive Summary
1.2 Market Definition
1.3 Scope of the Study
Chapter 2 Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Analytic Tools and Model
2.4 Economic Indicator
2.4.1 Base Year, Base Currency, Forecasting Period
2.5 Expert Validation
2.6 Study Timeline
Chapter 3 Market Analysis
3.1 Industry Value Chain Analysis
3.2Porter’s Five Force Analysis
3.2.1 Bargaining Power of Buyers
3.2.2 Bargaining Power of Suppliers
3.2.3 Threats of Substitutes
3.2.4 Threats of New Entrants
3.2.5 Industry Rivalry
3.3 PESTLE Analysis
3.3.1 Political
3.3.2 Economical
3.3.3 Social
3.3.4 Technological
3.3.5 Legal
3.3.6 Environmental
3.4 SWOT Analysis
3.4.1 Strengths
3.4.2 Weakness
3.4.3 Opportunities
3.4.4 Threats
3.5 Y-O-Y Analyses
Chapter 4 Market Dynamics
4.1. Drivers
4.1.1 Government Support in Certain Countries
4.1.2 Increasing Awareness of General Public
4.1.3 Technological Advancements
4.1.4 Comparative Advantage over Syringes and Vials
4.1.5 Rising Diabetes Prevalence
4.2 Restraints
4.2.1 Poor Reimbursement Policies in Underdeveloped and Developing Countries
4.2.2 Availability of Alternative Dosage Forms
4.2.3 Complications Associated with Needle Use
4.2.4 Reusability of Pen Needles
4.3 Opportunities
4.3.1 Rising Use of Safety Needles
4.3.2 Expanding Injectables Market
4.3.3 Rise in Self-Administration of Drugs
4.4 Challenges
4.4.1 Growing Focus on the Development of Alternative Drug Delivery Methods
4.4.2 Use of Needle-Free Injection Technology
Chapter 5 Global Pen Needles Market– By Therapy
5.1 Growth Hormone
5.2 Insulin
5,3 GLP-1
Chapter 6 Global Pen Needles Market– By Type
6.1 Standard Pen Needles
6.2 Safety Pen Needles
Chapter 7 Global Pen Needles Market- By Needle Length
7.1 4mm
7.2 6mm
7.3 8mm
7.4 10mm
7.5 12mm
Chapter 8 Global Pen Needles Market- By Material
8.1 Glass Needles
8.2 Plastic Needles
8.3 Stainless Steel/Metallic Needles
8.4 Polyetheretherketone (PEEK) Needles
Chapter 9 Global Pen Needles Market- By Mode of Purchase
9.1 Retail
9.2 Non-Retail
Chapter 10 Global Pen Needles Market- By Type of Therapy
10.1Glucagon-Like Peptides
10.2 Insulin
10.3 Growth Hormones
10.4 Others
Chapter 11 Global Pen Needles Market- By End-Users
11.1 Hospitals
11.2 Diagnostic Centers
11.3 Home Healthcare
11.4 Others
Chapter 12 Global Pen Needles Market- By Geography
12.1 Introduction
12.2 North America
12.2.1 U.S.
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 U.K.
12.3.2 Germany
12.3.3 France
12.3.4 Italy
12.3.5 Spain
12.3.6. Rest of Europe
12.4 APAC
12.4.1 China
12.4.2 Japan
12.4.3 India
12.4.4 South Korea
12.4.5 Australia & New Zealand
12.4.6 Rest of APAC
12.5 South America
12.5.1 Brazil
12.5.2 Argentina
12.5.3 Others
12.6 Middle East & Africa
12.6.1 Middle East
12.6.2 Africa
Chapter 13 Global Pen Needles Market- Company Profiles
13.1 Becton, Dickinson and Company
13.2 Novo Nordisk A/S
13.3 Ypsomed Holding AG
13.4 UltiMed, Inc.
13.5 Allison Medical, Inc.
13.6 Owen Mumford, Ltd.
13.7 B. Braun Melsungen
13.8 Artsana S.p.a.
13.9 HTL-STREFA S.A.
13.10 Terumo Corporation
13.11 Thermo Fisher Scientific Inc.
13.12 Sigma-Aldrich
13.13 Nipro Corporation
13.14 Smiths Medical
13.15 Olympus Corporation
Chapter 14 Global Pen Needles Market- Competitive Landscape
14.1. Market Share Analysis
14.2. Strategies Adopted by top companies
14.3. Mergers, Acquisitions, Collaborations & Agreements
Chapter 15 Market Insights
15.1. Industry Experts Insights
15.2. Analysts Opinions
15.3. Investment Opportunities
Chapter 16 Appendix
16.1 List of Tables
16.2 List of Figures
- Competitive Analysis in marketing and strategic management is an assessment of the strengths and weaknesses of current and potential competitors.
- Monitoring the external and internal factors which affect the market dynamics with the aid of PESTLE analysis.
- The Regional and Global Variety is taken care of in the report.
- Year on Year basis generation of revenue is studied.
- Porter's Five Forces analyze the intensity of competition in an industry and its profitability level.
- The overview and the sustainability of the market are analyzed through SWOT.
- DROC (Drivers, Restraints, Opportunities and Challenges) is recognized in the current market scenario and see how its effect on market dynamics.
- The segment-level analysis in terms of type and technology.
- The value chain analysis, value that's created and captured by a company is the profit margin.
- Value Created and Captured – Cost of Creating that Value = Margin
- An executive summary consists of the whole report and the outcome is been given in the report to have brief knowledge about the report.
- Basis on the depth of the study we approach using analytical tools
- Expertise investment opportunities are given after analyzing the market to give the organization and the individual to have perfect knowledge about the market.
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