Commonly used by people with diabetes who frequently require insulin injections, pen needle segment is driven by increasing global adoption of small sized needles for insulin injections. Pen needles are the shortest needles used for injection of subcutaneous insulin to the body. Pen needles available in the market can be used with all types and models of insulin pens. Demand for pen needles is currently high as these cause least amount of pain, which is a major consolation especially for diabetics who require multiple insulin doses per day.
According to Future Market Insights’ report, increasing prevalence of diabetes across the globe is the primary factor behind the increasing growth of pen needle segment in special purpose needle market. Pen needles are one of the fastest growing and easiest method for administering insulin. Pen needles are of two types- disposable and re-usable. Re-usable pen needle is pocket-friendly as patients can reuse if even for five time to administer insulin. Pen needles are more comfortable and convenient to use without the help of doctor or other medical staff.
When the trends of pen needles are concerned, the growing governmental regulations on the use of safety needles is increasing the growth of pen needle segment in special purpose needles market. There is a high potential of growth of pen needle segment in developed countries like the US where there is high ratio of the population suffering from obesity and eventually suffering from diabetes. The strategic focus of pen needles manufacturers towards new products as well as technological advancement is expected to fuel revenue growth of the pen needle segment of global special purpose needles market.
However, there are few restraints attached to the reusable pen needles. For instance, The Centers for Disease Control and Prevention already issued a warning to all healthcare providers over the improper use of pen needles. Sharing pen needles increase the risk of infections such as hepatitis and HIV. Pen needles segment is estimated to create the absolute $ opportunity of US$47.5 Mn in 2017 over 2016. Pen needles segment is expected to create US $ 901.8 Mn in terms of incremental opportunity between 2016 and 2026.