Global Pen Needles Market – Size, Outlook, Trends and Forecast (2024

Global Pen Needles Market - Size

Study Period

2018 - 2030

Base Year For Estimation

2023

Forecast Data Period

2024-2030

Historical Data Period

2018-2021

CAGR

7 %

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

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

Global Pen Needles Market - Growth

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

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 healthcare sector. Global

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Global Pen Needles Market - Porter's Five Force Analysis

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

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