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)

STANDARD 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.

Restraints: Preference for alternative modes of drug delivery
While pen needles are an easy, hassle-free mode of drug delivery, they are also associated with needlestick injuries and infections, hyperglycemia, and pain. Insulin pen therapy is seen to cause hyperglycemia in some patients, as the dose cannot be regulated. Hence, in Europe, there has been a shift in diabetes treatment, from insulin pens to insulin pumps, due to their ability to perform automated insulin suspension and decrease the risk of hypoglycemia. This is a major factor restricting market growth. Although needle-free drug delivery technologies have addressed this issue to an extent, their range of applications in therapeutic areas is limited.

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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.

Challenge: Reuse in Safety 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.

The most common reasons for this are unaffordability, lack of or no reimbursements in many developing countries, and convenience. The reuse of pen needles is a leading factor challenging market growth, as this curtails the demand for new needles. Furthermore, a study conducted by the Moscow Regional Research Clinical Institute found that bacteria were present on pen needles post-use and that bacterial growth on needles increased with further reuse. Reusing a pen needle can lead to multiple complications such as poor glycemic control, infection, and lipohypertrophy, indicating safety concerns tied to needle reuse.

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.

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