Top Companies in the Pen Needles Market

The pen needles market is projected to reach USD 3.08 billion by 2030 from USD 1.81 billion in 2024 at a CAGR of 9.2% during the forecast period. As the global population increases, the demand for insulin administration devices, particularly pen needles, has shown substantial growth potential. Diabetes is a chronic condition that's characterized by high blood sugar, which has affected most of millions of people all over the world and that often make Type 1 and insulin-dependent Type 2 diabetes patients to require the regular intake of insulin to maintain their blood glucose levels at normal value. The International Diabetes Federation estimates that the world's population of diabetics can reach 783 million by 2045, thereby intensifying the need for an efficient insulin delivery solution. Pen needles are a crucial part of an insulin pen, as they authorize patients to infuse insulin accurately, without much pain, and, above all, more conveniently than a syringe. A number focus on easy-to-handle, patient-friendly needle designs, such as thinner gauges and shorter lengths, which increase patient convenience, compliance and usage. In addition, the availability of prefilled and disposable insulin pens combined with pen needles greatly helps ease diabetes management for the most elderly and those with arthritis or those with minimal dexterity. In this regard, new technology advancements, such as safety-engineered pen needles, contribute more towards apprehension against needle stick injuries and increase the compliance in healthcare settings.

In this report, the pen needles market has been segmented on the basis of type, length, application, mode of purchase, setting and region.

Prominent players in this market include Embecta Corp. (US), Novo Nordisk A/S (Denmark), Ypsomed AG (Switzerland), B. Braun SE (Germany), Owen Mumford (UK), Terumo Corporation (Japan), NIPRO Corporation (Japan), Allison Medical, Inc. (US), AdvaCare Pharma (US), Berpu Medical Technology Co., Ltd. (China), ARKRAY, Inc. (Japan), GlucoRx Limited (UK), HTL-STREFA (Poland), UltiMed, Inc. (US), Hindustan Syringes and Medical Devices (India), Artsana Group (Italy), PromiseMed Medical Devices Inc. (Canada), Montmed, Inc. (Canada), Trividia Health, Inc. (US), VOGT Medical Vertrieb GmbH (Germany), Van Heek Medical (Netherlands), Simple Diagnostics (US), IYON Medical (Turkey), Links Medical Products, Inc. (US), and MHC Medical Products, LLC (US).

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Embecta corp. (US)

One of the main products traded by Embecta in the global market is pen needles. The company operates from a US-based facility, as well as having production plants in Ireland and China. The company's vast range of pen needles, syringes, and safety injection devices is a fundamental factor that helps it withstand competition in global market. Alongside the standard pen needles, the company has a safety pen needle portfolio. The company approaches the growth by both inorganic and organic mechanisms to cement its position in the pen needle market. For instance, on November 2022, Embecta Corporation (US) signed a agreement with Intuity Medical, Inc. (US) under which Embecta sales representatives in the US will promote Intuity Medical's high-tech POGO automatic blood glucose monitoring system to healthcare professionals.

Novo nordisk a/s (denmark)

The major source of revenue for the company is its Diabetes and Obesity Care segment. The global diabetes market provides an opportunity for the firm to generate revenues through its Diabetes Care segment. The company obtained approximately 40 million diabetic patients in 2022, from 32 million in 2020.Novo Nordisk is well poised in production with ~16 production sites across five regions and a growing product portfolio, including pen needles. The R&D centers of the company are set up in China, Denmark, India, the UK, and the US. Novo Nordisk increased R&D investments from 13.6% in 2022 to 14.0% in 2023. The company also announced that it would be expanding its presence in the pen needles market through a research hub in the greater Boston metro area, which was announced in March 2023.

B. Braun se (germany)

B. Braun SE is another major player of the pen needle market. In terms of product, the group has a comprehensive presence across geographical boundaries. Also, it has recognition for its branded products, notably Omnican Fine and Omnican Fine Plus injection pen needles. The innovations included in the products such as three facet grinding tip and silicone coating or thin-wall technologies used for injecting pen needles will help the firm obtain a strong presence in branding at the overall markets. The company has a huge geographical presence and subsidiaries in 64 countries. Therefore, it is not dependent on a single market, thus sustaining its leading position. The company intends to focus on new technology and digital transformation for healthcare medical devices.

Related Reports:

Pen Needles Market by Type (Standard Pen Needles, Safety Pen Needles), Length (8mm, 5mm), Setting (Home Care Settings), Application (Glucagon-Like Peptide-1 Therapy), Mode of Purchase (Over the Counter Purchase, Online Purchase) - Global Forecast to 2030

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