Pen Needles Market

Market Overview

The Total Addressable Market (TAM) for pen needles was valued at USD 2.68 billion in 2022. It is estimated to reach USD 7.25 billion by 2031, growing at a CAGR of 11.7% during the forecast period (2023–2031).

Pen needles are precision-engineered, single-use devices designed to be compatible with medication pens or pen injectors used to administer a comprehensive range of medications. A pen needle can be connected to a medication pen to administer insulin (for diabetes management), growth hormones, doses of epinephrine (adrenaline), and other biosimilar drugs for various treatments. Additionally, these pen devices offer better flexibility and long-term cost-effectiveness, which contribute to improved patient self-management behaviors, better treatment satisfaction, and enhanced quality of life among patients.

According to various clinical studies, pen needles used in medication pens offer better advantages over conventional hands, which include enhanced patient satisfaction and adherence, low levels of injection pain, greater ease of use, and higher accuracy while delivering small medication doses. Pen needles are designed to offer injection comfort by enabling easy penetration into the skin and minimizing drag force at injection sites.

Market Dynamics

Global Pen Needles Market Drivers

Increasing Number of Patients with Chronic Diseases

Several chronic diseases are on the rise around the world. Factors such as the rapid expansion of the aging population and changes in consumer lifestyle have contributed to the continuous surge in these common and costly long-term health conditions. The rise in the pace of urbanization is expected to drive the growth of the middle-class segment and a high prevalence of a sedentary lifestyle. Such factors fuel most chronic health conditions, such as obesity and diabetes.

In addition, one in three adults worldwide is affected by two or more chronic conditions. As the global population ages, the disease burden will continue to grow. Consequently, pen injectors have emerged as the new standard for injectable drug delivery systems. Also, these self-injectable pens have become increasingly popular due to their simplicity, reliability, and ability to be self-administered directly by a patient without the aid of a physician. Such factors will trigger the demand for pen needles in the coming years.

Emergence Of E-Commerce as a Preferred Distribution Channel

E-commerce has emerged as an effective distribution channel for the global pen needle market due to the surge in the adoption of several online media by several players to provide pen needles to customers. Online shopping portals have contributed to a significant surge in the revenue share of most players. Convenient prescription ordering, easy buying procedures, privacy and confidentiality, and suitable reimbursement policies are a few benefits of e-commerce channels for vendors in the market.

Consumers have also started opting for e-commerce platforms to procure pen needles for insulin due to time constraints. Furthermore, limited inventories in offline pharmacies and the surge in the use of smartphones by consumers to procure pen needles have enabled competitors to expand the reach of their products. Online reviews, the availability of numerous pen needles brands, pen needle sizes, and product information to compare product features and quality have enabled consumers to choose pen needles based on their requirements, propelling the market growth.

Global Pen Needles Market Restraint

Needle Anxiety and Safety Issues associated with Pen Needles

Trypanophobia is the overwhelming, extreme fear of medical procedures that involve needles. It is closely related to phobias of needles, pins, or other sharp objects. People with trypanophobia fear needles in medical settings and may avoid getting vaccines, blood draws, or intravenous (IV) fluids. Although needle phobia is common, it can have severe consequences if it results in avoidance or delays in medical care. The needle anxiety or phobia leads to improper techniques for administering the medication dosage by self.

In addition, the Institute for Safe Medication Practices (ISMP) states that patients might not know that standard insulin pen needles and pen needles with automatic needle shields work differently. Involuntary needle shields are often used in hospitals and long-term care facilities to prevent needle-stick injuries. Although these needles look similar, standard pen needles require an extra step that is not needed with automatic needle-shield pens. The fear of needles and safety issues are common challenges associated with administering medications through subcutaneous injections to children and adolescents. The low awareness among patients about the use of pen needles and the expenses related to training healthcare professionals to handle needle anxiety are major deterrents for the global pen needles market.

Global Pen Needles Market Opportunities

Surge in Demand for Self-Injectable Devices

Self-injectable devices are used for the subcutaneous administration of biopharmaceuticals, which is one of the growing segments of drug delivery devices. Factors such as the surge in the number of biological drugs that cannot be administered orally and the high global prevalence of diabetes will drive the demand for self-injectable devices even further in the future. Advances in self-injectable devices have improved the quality of care and minimized the costs associated with managing and treating various diseases. The pen needles industry has been continuously developing to meet patient requirements in various therapeutic areas, such as diabetes, growth hormone, fertility treatment, autoimmune diseases, and emergency treatment of anaphylactic shock and migraines.

In addition, self-injectable pens are designed to work with cartridges and pen needles. The demand for self-injection devices is rapidly increasing due to the high prevalence and incidence rate of chronic diseases, technological advances, new product development, commercialization, and product differentiation strategies adopted by leading pharmaceutical companies worldwide. Many new injectables are expected to enter the market in the coming years. Furthermore, the shift of treatment from clinics to home-based care to save costs and ensure better patient convenience has propelled the demand for self-injection devices., giving rise to opportunities for market growth.

Regional Analysis

By region, the global pen needles market is divided into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

Europe Dominates the Global Market

Europe is the most significant shareholder in the global pen needles market and is anticipated to grow at a CAGR of 5.78% during the forecast period. Due to the high demand for insulin pens in almost all European countries, Europe makes the most money out of the whole world market. Most governments in Europe provide excellent health insurance coverage for diabetes treatment as well as advanced healthcare. In addition, most physicians in the region are highly inclined to prescribe insulin pens as they are affordable and more convenient to use for the self-management of diabetes.

European countries have adopted smart insulin pens in recent years due to advantages such as accuracy, convenience, ease of use, and cost-effectiveness over conventional insulin pens and other insulin delivery devices, mainly driving the market for pen needles. The use of growth hormones, especially among adults engaged in bodybuilding, is also increasing the usage of pen needles. In addition, the European population has a high prevalence of various allergies, increasing the use of epinephrine auto-injectors in the market.

North America is expected to grow at a CAGR of 5.39% over the forecast period. The considerable rise in diabetic patients will primarily drive the adoption of pen needles across the region in the coming years. Although the lowest proportion of undiagnosed diabetes has been found in the North American area at 24%, the rise in the prevalence of diabetes over the past years has increased the health expenditure on diabetes management. Factors such as poor lifestyle, high prevalence of obesity, and poor dietary habits have contributed to the high prevalence of type 2 diabetes in the region. In addition, obesity is the main contributor to the surge in diabetes in North America. Thus, expanding the target population will primarily drive the adoption of pen needles in the regional market. In addition, the use of epinephrine auto-injectors is also expected to increase in the region.

In Asia-Pacific, China has the highest number of diabetes patients compared to other countries. The region is the largest insulin pen needles manufacturer globally. Most diabetic patients have preferred insulin pens and single-use pen needles to inject insulin over the past few years. Furthermore, the country is home to almost 50% of insulin manufacturers worldwide that manufacture consumable products such as insulin pen needles. However, factors such as inadequate knowledge about insulin pen usage, complications associated with reusing insulin pen needles, and the high physician preference for insulin syringes over pens due to low patient education about insulin pens are major growth deterrents for the Asia Pacific pen needles market.

In Latin America, the rise in the target population is a significant growth driver for the regional market. The increasing incidence of diabetes in the region is propelling the usage of insulin pens and pen needles. In 2021, Mexico had the highest prevalence of diabetes at 16.9%, while Argentina had a minor majority at 6.1%. In addition, factors such as the high prevalence of obesity at 71.3% have contributed to a considerable surge in the diabetic population in Mexico. Patients have problems using ordinary pen needles after they leave the hospital because they need to be taught how to remove the needle tip cap.

The Middle East and Africa have the highest diabetes prevalence rate among all other regions. The costs of medicines to treat patients with diabetes, coupled with the cost of associated complications, have increased the economic burden of diabetes in the region. Poor availability of treatment guidelines, lack of proper training and education, lack of awareness among patients and healthcare workers, and poor quality of healthcare services have restrained the adoption of insulin pens in the region.

Segmental Analysis

The global pen needles market is segmented into product type, length, therapy, and distribution channel.

By product type, the global market is divided into standard pen needles and safety pen needles.

The standard pen needles segment is the highest contributor to the market and is anticipated to grow at a CAGR of 6.09% over the forecast period. Standard pen needles are among the oldest used by patients and healthcare professionals. Most medical professionals know that standard pens have caps that must be removed before use. Patients have problems using ordinary pen needles after they leave the hospital because they need to be taught how to remove the needle tip cap. Thus, all these factors may limit the growth of the standard pen needles segment during the forecast period.

Safety pen needles (SPN), primarily introduced for hospital settings, can reduce accidental puncture risk through a retractable shield that automatically locks the needle after injection. Introducing safety pen needles with built-in sharp-edged injury protection is superior to traditional pen needles that reduce the risk of injury and infectious disease epidemics. SPNs may be preferred over conventional needles in terms of simplicity, ease of use, and patient satisfaction. In addition, it is associated with less pain and fear of self-injection. Although automatic resealing pen needles are widely used in clinical practice, there needs to be more literature or a comprehensive review of this medical device. The most effective way to reduce the prevalence of needlestick injuries in healthcare professionals is to use safety devices with safety mechanisms that are easy to use and operate.

By length, the global market is divided into short needles and long needles.

The short needles segment owns the highest market share and is expected to grow at a CAGR of 6.51% during the forecast period. Short-length pen needles comprise 4mm, 5mm, 6mm, and 8mm lengths of needles. Injection into healthy subcutaneous tissue is essential for reliable, predictable medication absorption. Unlike intramuscular injections, subcutaneous injections help maintain stable blood glucose levels and minimize variations in glycaemic control, which may lead to hypoglycemia. The average skin thickness must be between 1.6mm to 2.5mm thick, with slight variation, regardless of age, gender, BMI, and ethnicity. However, subcutaneous fat thickness is highly variable and will be affected by factors such as age, gender, and BMI.

The longer needles were initially introduced to administer drugs through the skin. Some obese patients do not receive the proper medication when injected using small needles and, therefore, require long needles. The administration of insulin involves the use of larger needles among end-users. Millions of people across the globe use needles for medicine intake. For instance, people in countries such as Russia, the US, the UK, and Germany are physically more significant than their counterparts in Asia. Higher weight and important physical attributes require the usage of longer needles to inject medications to reach the intended organs. The surge in the number of diabetic individuals and the rise in the prevalence of chronic diseases are expected to drive the adoption of long needles in the market.

By therapy, the global market is divided into insulin and non-insulin.

The insulin segment is the highest contributor to the market and is anticipated to grow at a CAGR of 6.40% over the forecast period. Insulin therapy is the basis for the management of type 1 diabetes and is often essential for the management of type 2 diabetes. Even though there is a lot of evidence that insulin therapy can help people control their blood sugar and lower their risk of long-term complications from diabetes, only 30%–35% of adults in the US actively seek it out. One of the main barriers to insulin therapy is using conventional insulin delivery systems, which are time-consuming, tedious, inconvenient, and painful. Modern pen devices with pen needles have several advantages over traditional insulin delivery methods. Ease of use and comfort of injection make insulin injection easier. The fact that insulin pens are simple to use and that insulin injection schedules can be adjusted to fit a busy schedule can help people with diabetes live healthier lives.

By distribution channel, the global market is divided into retail and online.

The retail segment owns the highest market share and is expected to grow at a CAGR of 5.98% over the forecast period. The retail segment comprises hospitals and clinics, and pharmacies. Distribution is one of the most critical business activities as it ensures the visibility and availability of the product in the market. Channels of distribution provide downstream value by bringing finished products to end-users. Most products reach patients through wholesalers serving pharmacies, physicians, and other healthcare professionals. Increasing target populations combined with the high adoption rate, rising popularity among consumers, and user-friendly design of insulin pens are contributing to the significant revenue share of this segment.

Online distribution channel has played a pivotal role in dispensing information and bringing radical changes in consumer consumption patterns and shopping behavior. Although the procurement of pen injectors used to involve several challenges earlier, it has become a quick and technology-enabled process due to the surge in online sales of these devices. The rise of standalone web portals for retailers and the emergence of exclusive online marketplaces for insulin pens have recently gained attention. For instance, insulin pens are readily available through online e-commerce portals, such as Apollo Pharmacy, Medplus, and PharmEasy.

Recent Developments

November 2022- Ypsomed stated that Abbott's FreeStyle Libre 3 sensor can now be used with mylife Loop in Germany. The mylife YpsoPump and the FreeStyle Libre 3, combined with the mylife CamAPS FX algorithm from CamDiab, form an intelligent and automated insulin delivery system (AID) designed to help people with type 1 diabetes control their glucose levels better and alleviate the burden of daily diabetes management.

October 2022- Ypsomed made a new autoinjector platform for liquid medicines with volumes between 1.5 and 5.5 ml. The YpsoMate 5.5 is the latest device in the YpsoMate family. It uses the same technology as the YpsoMate 2.25 Pro, which has been around for a while. YpsoMate 5.5 enables the self-administration of larger volumes of medications for treating cancer and rare and autoimmune diseases.