According to a market report published by Lucintel, the future of the pen needle market looks promising with opportunities in the hospitals, clinics, and home healthcare industry. The pen needle market is expected to grow with a CAGR of 10% from 2019 to 2024. The major growth drivers for this market are increasing prevalence of diabetes, geriatric population, technological advancements, and advantages of insulin pens over syringes and vials.
Pen needles use injection pens to deliver injectable medications into the body. These devices contain a hollow needle with a plastic hub attached to the injection pens, which are of varying lengths and diameter. In this market, standard and safety needles are the major product types. Standard pen needle is the largest segment due to low cost. Safety pen needles are expected to grow at a faster rate in the coming years.
On the basis of length, pen needle market is also segmented by 4mm, 5mm, 6mm, 8mm, 10mm, 12mm. Pen needle with 6mm length is expected to be the largest segment, whereas pen needle with 4mm length is expected to grow at fastest rate over the forecast period as it causes less pain and enable easy insulin administration.
North America will remain the largest market over the forecast period due to increasing diabetes prevalence and the development of improved pen needle technologies.
Becton, Dickinson and Company, Novo Nordisk, Ypsomed Holding, Owen Mumford, HTL-Strefa, B. Braun Melsungen, Terumo, Ultimed, Allison Medical and Artsana are among the major manufacturers of the pen needle market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the pen needle market by product, length of needle, mode of purchase, type of therapy, application, and region. Lucintel has prepared a comprehensive research report titled "Pen Needle Market 2019-2024: Trends, Forecast, and Opportunity Analysis". This Lucintel report serves as a catalyst for growth strategy as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the pen needle market by product, length of needle, mode of purchase, type of therapy, application, and region as follows:
By Product [$M shipment analysis for 2013 – 2024]:
• Standard Needle
• Safety Needle
By Length [$M shipment analysis for 2013 – 2024]:
• 4mm
• 5mm
• 6mm
• 8mm
• 10mm
• 12mm
By Therapy [$M shipment analysis for 2013 – 2024]:
• Glucagon-like Peptides (GLP-1)
• Insulin
• Growth Hormones
• Others
By Mode of Purchase [$M shipment analysis for 2013 – 2024]:
• Retail
• Non-Retail
By End Use [$M shipment analysis for 2013 – 2024]:
• Hospital
• Clinics
• Home Healthcare
• Others
By Region [$M shipment analysis for 2013 – 2024]:
• North America
• United States
• Canada
• Mexico
• Europe
• UK
• Germany
• Italy
• Asia Pacific
• China
• Japan
• India
• Rest of the World
This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this …….. [email protected].
About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.


This report answers following 11 key questions:

Q.1. What are some of the most promising potential, high-growth opportunities for the pen needle market by product (standard needle and safety needle),length (4mm, 5mm, 6mm, 8mm, 10mm, 12mm ), mode of purchase (retail and non-retail), therapy (glucagon-like peptides, insulin, and growth hormones), end use (hospitals, clinics, home healthcare, and others), and region (North America, Europe, Asia-Pacific, Rest of the World (ROW))?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which regions will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the drivers and challenges of the pen needle market?
Q.5. What are the business risks and threats to the pen needle market?
Q.6. What are emerging trends in this pen needle market and the reasons behind them?
Q.7. What are some changing demands of customers in the pen needle market?
Q.8. What are the new developments in the pen needle market? Which companies are leading these developments?
Q.9. Who are the major players in this pen needle market? What strategic initiatives are being implemented by key players for business growth?
Q.10. What are some of the competitive products and processes in this pen needle market area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11. What M and A activities have taken place in the last 5 years in this pen needle market?