Pen Needles Market Insights:
The Pen Needles Market size was valued at USD 1.45 Billion in 2022, expecting a CAGR of 11.1% during the forecast period (2023-2030), and the market is projected to be worth USD 3.37 Billion by 2030.
Driver:
The increased adoption of Pen Needles in the Medical Devices industry is due to high workability, Stability of structure, good quality, and Demand for making things better. The demand for Pen Needles also has other significant aspects, such as analysis, purchasing volume, costs, pricing analysis, and regulatory framework. Additionally, the increased demand of Pen Needles in many sectors also boosts the market growth during the forecast period.
Pen needles are small, disposable needles that are used with insulin pens to inject insulin into the body. They are typically made from stainless steel and are designed to be thin and sharp to minimize pain and discomfort during injection. Pen needles come in a variety of lengths and gauges to accommodate different injection sites and insulin delivery requirements. The length of the needle typically ranges from 4mm to 12.7mm, while the gauge (or thickness) ranges from 29G to 32G.
Pen Needles Market Research Report” was just released by Market Research Community. It is divided into several categories, including By Type (Standard Pen Needles, Safety Pen Needles), By Application (4mm, 5mm, 6mm, 8mm, 10mm, 12mm), By Therapy (Insulin, GLP-1, Growth Hormones), By Mode Of Purchase (Retail, Non-Retail), and companies (Becton, Dickinson and Company, Novo Nordisk, Ulticare, Ypsomed Holding AG, B. Braun Melsungen AG, Terumo Corporation, Owen Mumford Ltd., Allison Medical, Cambridge Sensors Ltd., Montmed Inc), According to the analysis of Market Research Community, The market is projected to grow at a significant pace reaching a CAGR of approximately 11.1%, over the forecast period of 2023–2030.
Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Billion) | 3.37 Billion |
| CAGR (2023-2030) | 11.1% |
| By Type | Standard Pen Needles, Safety Pen Needles |
| By Application | 4mm, 5mm, 6mm, 8mm, 10mm, 12mm |
| By Therapy | Insulin, GLP-1, Growth Hormones |
| By Mode Of Purchase | Retail, Non-Retail |
| By Geography | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Key Players | Becton, Dickinson and Company, Novo Nordisk, Ulticare, Ypsomed Holding AG, B. Braun Melsungen AG, Terumo Corporation, Owen Mumford Ltd., Allison Medical, Cambridge Sensors Ltd., Montmed Inc. |
Covid-19 Impact:
The COVID-19 pandemic has had a substantial negative influence on the Pen Needles market in many different regions of the world. The factors such as limited availability of raw materials, transportation restrictions, the shutdown of manufacturing facilities, and economic slowdown are the major impacts of COVID-19 which hampered the market growth. Shipments were impacted during the initial lockdown due to halted automotive productions and stringent government rules. The overall impact of COVID-19 on the industry is estimated to be minimal because the situation has stabilised. Post covid-19, there was a positive impact on the market growth due to the increased industrial manufacturing processes and rising demand for environment-friendly alternatives.
Industry Competitive Landscape:
The research includes comprehensive profiles of the key players in the market and an analysis of the competitive landscape. The market for sample preparation has grown more quickly as a result of the spike in research and development (R&D), product innovation, different business strategies, and application releases. Key players in the market include-
Becton, Dickinson and Company, Novo Nordisk, Ulticare, Ypsomed Holding AG, B. Braun Melsungen AG, Terumo Corporation, Owen Mumford Ltd., Allison Medical, Cambridge Sensors Ltd., Montmed Inc.
Market Segment Analysis:
By Type
- Standard Pen Needles
- Safety Pen Needles
By Needle Length
- 4mm
- 5mm
- 6mm
- 8mm
- 10mm
- 12mm
By Therapy
- Insulin
- GLP-1
- Growth Hormones
By Mode Of Purchase
- Retail
- Non-Retail
Region
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2022, some of these regions expected to contribute the largest share during the forecast period.
The factors such as the large and easy availability of basic things, rising purchasing power among the population, and favorable government policies and industrial facilities are estimated to accelerate the industry growth in the region. The growing rate of industrialization is anticipated to boost the presence of Pen Needles industries in the region.
Key Pen Needles Market Trends
– Based on type, sub-type, technology utilised, applications, end-users, and geographies, the research identifies, defines, and predicts the Global Pen Needles Market segments.
– Largest Market Share Held by Industry to Industry for Pen Needles
– Based on their expected growth, development patterns and prospects for the future, and contributions to the overall market, it analyses the micro markets.
– Demand from the geographical area is estimated to boost growth.
– Growing Market Segment Adoption in the Pen Needles Industry
– Over the forecast period, higher growth rates are anticipated in in some regions
Why Purchase the Industry Report by MRC
There is a huge amount of information in the report, including market trends and business opportunities for the forecast period.
Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) statistics.
Data at the regional, sub-regional, and national levels also includes information on the market’s supply and demand dynamics.
The competitive landscape includes the proportions of important players, recent innovations, and strategy.
Comprehensive product offerings, important financial data, latest advancements, SWOT analysis, and key player tactics.
Table of Content
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Research Methodology
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