Lucintel’s latest market report analyzed that pen needle provides attractive opportunities in the standard pen needle and safety pen needle markets. The pen needle market is expected to reach $6.2 billion by 2028 with a CAGR of 12.0%. In this market, standard pen needles is the largest segment by product, whereas insulin is largest by therapy.
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Based on product, the pen needle market is segmented into standard pen needles and safety pen needles. The standard pen needles segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, because it is used by diabetic patient on daily basis and these needles are most often used at homes.
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The Pen Needle Market is marked by the presence of several big and small players. Some of the prominent players offering pen needle include Novo Nordisk, Becton Dickinson and Company, Terumo Corp, Owen Mumford, Ypsomed, B. Braun Melsungen, HTL-STREFA, UltiMed, Allison Medical, and Artsana S.p.A.
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