The Pen Needles Market is expected to reach USD 2.2 Billion by 2026 from an estimated USD 1.3 billion in 2021, at a CAGR of 11.2%. Growth in the market is largely driven by the growing prevalence of chronic diseases and the favorable reimbursement scenario in selected countries. On the other hand, the preference for alternative modes of drug delivery, poor reimbursement in developing countries, and needle anxiety are expected to restrain the overall market growth. Misuse of insulin pens and reuse of pen needles are the challenges faced by the market. The growing preference for biosimilar drugs and emerging markets are areas of opportunity in the market.

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Key Market Players

Becton, Dickinson and Company (US), Novo Nordisk A/S  (Denmark), Ypsomed Holding AG (Switzerland), B. Braun Melsungen AG (Germany), Owen Mumford (UK), Terumo Corporation (Japan), Nipro Corporation (Japan) Allison Medical (US), AdvaCare Pharma (US), Berpu Medical Technology (China), ARKRAY (Japan), GlucoRx (UK), HTL-STREFA (Poland), UltiMed, (US), Hindustan Syringes and Medical Devices (India), Artsana Group (Italy), PromiseMed Diabetes Care (Canada), Montmed (Canada), Trividia Health (US), VOGT Medical Vertrieb (Germany), Van Heek Medical (Netherlands), Simple Diagnostics (US), Iyon (Turkey), Links Medical Products (US), and MHC Medical Products (US)

PEN NEEDLES INDUSTRY DYNAMICS

Driver: Growing prevalence of chronic diseases

The prevalence of chronic diseases has increased significantly in the last few years. Such diseases-including diabetes, osteoporosis, cardiovascular disease (CVD), and multiple sclerosis-require daily or weekly drug administration, typically using pen injectors.  In the rapidly growing market, pen injectors have become the new standard for injectable drug delivery systems. Their popularity has soared due to their simplicity, reliability, and ability to be administered directly by the patient without the aid of a physician. The pen needle, a removable attachment, forms an integral part of the pen injector. The length of the needle and its sharpness is critical to ensure that the medication reaches the target tissues. Thus, the growing prevalence of chronic diseases has led to a greater focus on pen needle technologies to effectively handle the growing patient pool and increase patient compliance with therapies.

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Opportunity: Growing preference for biosimilar drugs

Biosimilars were introduced in 2006 by many pharmaceutical companies such as Sandoz (Germany), Teva Pharmaceutical Industries Ltd. (Israel), and JCR Pharmaceuticals Co., Ltd. (Japan). Due to their lower costs (compared to their patented counterparts), the demand for biosimilars has increased significantly. In addition, the impending patent expiry of many biologic molecules will also serve to drive the demand for biosimilars.

Even insurance companies and governments are favoring the use of biosimilars and generics. For instance, CVS Caremark, a major prescription insurer in the US, has replaced branded injectable drugs such as Lantus by Sanofi and EpiPen by Mylan with their biosimilars Basaglar (available in injection pen) by Eli Lilly and Adrenaclick (an autoinjector) by Amedra Pharmaceuticals. This favors the pen needles market as Basaglar is administered via pen injector. Many other injectable drugs also rely on pen injection; thus, the growing preference for biosimilar drugs and support from governments and insurance providers will ensure strong opportunities for growth in this market.

Challenge: Reuse in pen needles

Needle reuse is a common practice in several parts of the world, with the extent of reuse of pen needles varying across geographies from as low as 30% to a staggering 95% of patients reusing their needles. According to a study published in Value Health Journal, about 98.35% of patients reuse insulin pen needles in China.

North America is expected to account for the largest share of the pen needles industry in 2020

North America dominated the pen needles market. The growing diabetes prevalence and favorable reimbursement scenario for pen needles, federal initiatives to create awareness about injection techniques, increasing market penetration by leading players, and the development of improved pen needle technologies are driving market growth in the US.

Recent Developments

• In February 2021, Ulticare safety pen needles are launched in two sizes, 5mm 30G and 8mm 30 G launched by UltiMed Inc. (US).
• In October 2020, Arkray Inc. (Japan) launched TechLITE Pen Needles which are now indicated for use with pen injector devices for the subcutaneous injection of drugs in the US.
• In January 2019, Becton, Dickinson and Company (US) launched Second Generation Standard Pen Needles.
• In August 2018, Arkray Inc. (Japan) launched Assure ID safety pen needles.

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