Pen Needle Market Projected To Surpass US$3.2 Billion By 2030 At A 9.27% CAGR

(MENAFN- EIN Presswire) Gobal pen needle market is forecasted to grow at a CAGR of 9.27% from US$2.04 billion in 2025 to US$3.20 billion in 2030.

Various market leaders and innovators in the healthcare equipment market are expected to introduce key solutions with the increasing cases of various types of chronic diseases worldwide.” - AnalystNEW YORK, NY, UNITED STATES, January 20, 2025 /EINPresswire / -- According to a new study published by Knowledge Sourcing Intelligence, the pen needle market is projected to grow at a CAGR of 9.27% between 2025 and 2030, reaching US$3,189.012 million in 2030.
A pen needle is a type of needle, that screws on top of the insulin pen . This needle is designed for single use, has a protective container, and offers easy applicability. The pen needles provide patients convenience and can accurately deliver insulins to the body. The rising prevalence of diabetes worldwide is one of the key factors driving the growth of the pen needle market during the forecast period. In managing diabetes, insulin plays a crucial role, and pen needles facilitate the accurate and convenient delivery of this essential medication to patients, often without additional supervision. Similarly, the increasing global cases of various types of chronic diseases are also expected to propel the market growth over the forecasted timeline.

With the increasing demand for pen needles in the global market, technological developments are expected to increase during the timeline. Various market leaders and innovators in the healthcare equipment market are expected to introduce key solutions across the globe, to enhance their market share. For instance, in August 2024, Medical Technology and Devices, or MTD Group, a global leader in the consumer healthcare sector, announced the acquisition of Ypsomed's pen needles and blood glucose monitoring businesses. Through this acquisition, the company aims to strengthen its market position, attaining the top 2 spot, with total production capability reaching over 2.5 billion pen needles.

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The pen needle market, under the type segment, is divided into standard pen needles and safety pen needles. Under the type segment of the global pen needle market, the standard pen needle category is expected to witness major growth. A standard pen needle is a small and disposable pen needle, that is mainly used for injecting insulin into the patient's body. The standard pen needle also offers increased convenience to the patients and the capability to inject insulin without supervision.
The length segment of the pen needle market is categorized into 4mm & 5mm, 6mm & 8mm, and 10mm & 12mm. The 4mm & 5mm category in the length segment of the pen needle market is expected to grow at a greater rate during the forecasted timeline. The 4mm and 5mm pen needles are among the smallest pen needles available in the global market. The 4mm and 5mm pen needles cause the least pain while injecting medication, because of their smaller size.

The pen needle market, under the therapy segment, is divided into insulin, glucagon-like peptide-1, and growth hormone. Under the therapy segment, the insulin category is expected to grow at a higher rate, compared to other categories of the global pen needle market. The major factor propelling the growth of the insulin category in the segment is the increasing global cases of diabetes. In diabetes, insulin therapy offers key application in monitoring and controlling the diseases. The global cases of diabetes observed major growth during the past few years, majorly in countries such as the USA, the UK, Canada, India, and Japan.
The distribution channel segment of the pen needle market is categorized into online and offline. The online category of the distribution channel segment is expected to attain a greater market share in the global pen needle market. The online mode of distribution includes the sale of pen needles using the Internet. The increasing utilization of the internet, and the growing population using smartphones, are among the key factors propelling the growth of the online category during the forecasted timeline.

Based on geography, the Asia Pacific region is expected to witness significant growth in the global pen needle market. The major factor propelling the growth of pen needles in the Asia Pacific region is the increasing number of cases of chronic diseases, especially diabetes in the region. The cases of diabetes in the region, especially in countries like China, Japan, India, and South Korea witnessed a major growth in the past few years. Similarly, the increasing development in the healthcare equipment market is also expected to propel the growth of pen needles in the Asia Pacific region during the estimated time period.
As a part of the report, the major players operating in the pen needle market that have been covered are Becton, Dickinson and Company, Glucorx, Braun Melsungen, Ypsomed, Novo Nordisk, HTL-Strefa, Ultimed, Inc., Allison Medical, Inc., Terumo Corporation, and Owen Mumford, Ltd. among others.

The market analytics report segments the pen needle market as follows:

.By Type
oStandard Pen Needles
oSafety Pen Needles

.By Length
o4mm and 5mm
o6mm and 8mm
o10mm and 12mm

.By Therapy
oInsulin
oGlucagon-like-Peptide-1
oGrowth Hormone

.By Distribution Channel
oOnline
oOffline

.By Geography
.North America
oUSA
oCanada
oMexico
.South America
oBrazil
oArgentina
oOthers
.Europe
oUK
oGermany
oFrance
oSpain
oItaly
oOthers
.Middle East and Africa
oUAE
oSaudi Arabia
oOthers
.Asia Pacific
oJapan
oChina
oIndia
oSouth Korea
oIndonesia
oThailand
oOthers

Companies Profiled:
.Becton, Dickinson and Company
.Glucorx
.Braun Melsungen
.Ypsomed
.Novo Nordisk
.HTL-Strefa
.Ultimed, Inc.
.Allison Medical, Inc.
.Terumo Corporation
.Owen Mumford, Ltd.

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Harsh Sharma
Knowledge Sourcing Intelligence LLP
+1 850-250-1698
email us here

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