The pen needles market is projected to reach a valuation of US$ 2,280.6 million by the conclusion of 2025, growing at a compound annual growth rate (CAGR) of 4.6% from 2018 to 2025, up from US$ 1,603.8 million in 2017. This growth is primarily driven by the increasing prevalence of diabetes and the rising number of individuals classified as obese, who are at a heightened risk for developing diabetes. According to the International Diabetes Federation (IDF), it is estimated that by 2040, around 642 million people worldwide will be living with diabetes. However, the emergence of alternative drug delivery methods and liquid administration techniques may pose challenges to market expansion. A notable trend in the pen needles market is the growing preference for safety needles over traditional pen needles.
The global pen needles market is categorized based on therapy types, which include insulin therapy, GLP-1 therapy, and growth hormone therapy. Among these, insulin therapy is anticipated to be both the largest and the fastest-growing segment. Insulin is the most commonly prescribed biologic for individuals diagnosed with diabetes. Furthermore, the increasing trend of self-administration of insulin by diabetic patients is expected to drive significant growth in the insulin therapy segment compared to other therapy types during the forecast period.
In terms of needle length, the pen needles market is divided into several categories: 4mm, 5mm, 6mm, 8mm, 10mm, and 12mm. The 4mm segment is projected to hold a significant share of the market due to its effective delivery capabilities compared to other lengths. These needles are suitable for users across all age groups and various skin thicknesses and body mass index (BMI) levels. The advantages of 4mm pen needles include enhanced comfort, ease of insulin penetration, and widespread availability, all of which are likely to boost demand for this size throughout the forecast period.
The analysis of the pen needles market was conducted through comprehensive primary and secondary research methods. This involved utilizing a wide range of authoritative sources, including government and health organization websites such as the World Health Organization (WHO), Centers for Disease Control & Prevention (CDC), Food & Drug Administration (FDA), United Nations (UN), International Diabetes Federation (IDF), American Diabetes Association (ADA), National Institute of Health (NIH), and the Japan Association for Diabetes Education and Care. Primary data was gathered from interviews and discussions with key stakeholders, including industry leaders and representatives from both the supply and demand sides of the urinary catheter market, as well as healthcare professionals working in hospitals, clinics, and research institutions.