The Asia Pacific Pen Needles Market would witness market growth of 10.3% CAGR during the forecast period (2023-2030). In the year 2021, the Asia Pacific market's volume surged to 22,412.6 thousand Units, showcasing a growth of 10.0% (2019-2022).
Pen needles are primarily used for subcutaneous injection of various medications, with insulin being the most common medication administered using pen needles. The application of pen needles in the healthcare sector is crucial for the effective management of diabetes and other medical conditions that require subcutaneous injections. The primary and most common application of pen needles is in managing diabetes. People with diabetes use insulin pens equipped with pen needles to self-administer insulin to control their blood glucose levels. It offers a convenient and less painful way to deliver insulin.
These are also used for growth hormone therapy in youths and adults with growth hormone deficiencies. The subcutaneous injection of growth hormone is a common treatment method, and these allows for precise and controlled dosing. Some patients, particularly women undergoing hormone replacement therapy for menopause symptoms, use it to administer hormone medications subcutaneously. This method provides a consistent and controlled delivery of hormones. These are used in fertility treatments that involve subcutaneous injections of hormones to stimulate ovulation or for in vitro fertilization (IVF) procedures.
According to WHO, in India, an estimated 77 million people above the age of 18 years have diabetes (type 2), and about 25 million are prediabetics (at a higher chance of developing diabetes shortly) in 2023. The expanding demand for pen needles in India reflects the growing need for effective diabetes management. As the country grapples with the challenges posed by the rising prevalence of diabetes, pen needles are playing a crucial role in helping patients self-administer insulin and other medications. The aspects mentioned above will drive market growth across the region.
The China market dominated the Asia Pacific Pen Needles Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $243.6 million by 2030. The Japan market is registering a CAGR of 9.6% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 11% during (2023 - 2030).
Based on Type, the market is segmented into Standard Pen Needles, and Safety Pen Needles. Based on Setting, the market is segmented into Homecare, Hospitals & Clinics, and Others. Based on Application, the market is segmented into Insulin, Glucagon-like-Peptide-1 (GLP-1), Growth Hormone, Osteoporosis, and Others. Based on Length, the market is segmented into 8mm, 6mm, 5mm, 10mm, 12mm, and 4mm. Based on Mode of Purchase, the market is segmented into Over the Counter, Prescription-based, Online Purchase, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Global Pen Needles Market is Predict to reach $3.1 Billion by 2030, at a CAGR of 9.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 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 Country (Volume, Thousand Units, USD Billion/Million, 2019-2030)
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