According to a new report, published by KBV research, The Global Pen Needles Market size is expected to reach $3.1 billion by 2030, rising at a market growth of 9.4% CAGR during the forecast period. In the year 2022, the market attained a volume of 86,930.9 thousand Units experiencing a growth of 9.1% (2019-2022).
The Safety Pen Needles segment is experiencing a CAGR of 12.9% during (2023 - 2030). Safety pen needles are equipped with caps or shields that cover the needle before and after use. These shields help prevent accidental needlesticks and protect the needle from contamination. The primary goal of safety pen needles is to protect both the user and healthcare professionals from needlestick injuries, which can transmit infections and pose health risks. They are widely used for insulin administration by people with diabetes and are also employed for subcutaneous administration of other medications.
The Homecare segment is generating the highest revenue in the Global Pen Needles Market by Setting in 2022; thereby, achieving a market value of $1.7 billion by 2030. Homecare pen needles are designed with an emphasis on ease of use. They often feature ergonomic grips and intuitive interfaces for attaching them to insulin pens or other pen devices. Homecare pen needles are primarily used to self-administrate medications, allowing individuals to manage their healthcare independently.
The Glucagon-like-Peptide-1 (GLP-1) segment is exhibiting a CAGR of 9.8% during (2023 - 2030). GLP-1 agonists are a class of medications that mimic the effects of the natural hormone GLP-1. These medications are administered via subcutaneous injections. Pen needles are used with GLP-1 pen delivery devices to administer the medication subcutaneously. GLP-1 agonists are typically administered as subcutaneous injections into the fatty tissue under the skin. These medications are often prescribed in combination with dietary and lifestyle modifications to improve glycemic control.
The 8mm segment is registering maximum revenue in the Global Pen Needles Market by Length in 2022; thereby, achieving a market value of $1.6 billion by 2030. These needles are most commonly prescribed to all patients, including overweight people suffering from the target disease. These needles are administered to most patients, including those with the target condition who are overweight. It offers advantages such as protection, user convenience, and ease of disposal. These needles are employed in home settings.
The Prescription-based segment is registering a CAGR of 10% during (2023 - 2030). Prescription-based pen needles are part of the broader practice of responsible and safe medication administration, particularly for self-administration by patients. Healthcare providers play a crucial role in evaluating the patient's needs, providing the appropriate prescription, and educating the patient on the proper use of pen needles. In many healthcare systems, having a prescription for pen needles may be necessary to secure insurance coverage for the cost of the needles.
The North America region dominated the Global Pen Needles Market by Region in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $977.6 million by 2030. The Europe market is anticipated to grow a CAGR of 9% during (2023 - 2030). Additionally, The Asia Pacific market would witness a CAGR of 10.3% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/pen-needles-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country-wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Embecta Corp., Novo Nordisk A/S, Ypsomed AG, B. Braun Melsungen AG, Terumo Corporation, Nipro Corporation, Owen Mumford Limited, Arkray, Inc., UltiMed, Inc. and Allison Medical, Inc.
By Type (Volume, Thousand Units, USD Billion/Million, 2019-2030)
By Setting (Volume, Thousand Units, USD Billion/Million, 2019-2030)
By Application (Volume, Thousand Units, USD Billion/Million, 2019-2030)
By Length
By Mode of Purchase (Volume, Thousand Units, USD Billion/Million, 2019-2030)
By Geography (Volume, Thousand Units, USD Billion/Million, 2019-2030)
Companies Profiled
Unique Offerings 
