The US pen needle market is anticipated to grow at a CAGR of 7.4%% during the forecast period. The high prevalence of diabetes in the country along with the requirement of easy treatment procedures is a key factor contributing to the growth of the market in the US. According to International Diabetes Federation (IDF), the number of adults with diabetes in the US accounted for 31.0 million in 2019, which is expected to increase by up to 34.4 million people in 2030, which is further expected to raise-up to 36.0 million people in 2045. Additionally, the strong presence of key vendors in the country is also anticipated to drive the US pen needle market.

The US pen needle market is segmented based on type, therapy, and mode of purchase. Based on the type, the market is sub-segmented into a standard pen needle and safety pen needle. The standard pen needles segment is estimated to contribute a significant share in the market. Based on the therapy, the market is sub-segmented into, insulin, GLP-1, growth hormones. Pen needles for insulin are estimated to contribute a prominent share in the market and are projected to do so during the forecast period. Based on the mode of purchase, the market is bifurcated into retail and non-retail. The retail segment is estimated to contribute significantly to market growth.

Some of the players in the US pen needle market include AgaMatrix, Inc., Becton, Dickinson and Co., Novo Nordisk A/S, Terumo Corp., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers, and acquisitions, collaborations, and funding, to stay competitive in the market. For instance, in September 2019, Novo Nordisk announced the launch of additional US insulin affordability offerings. The new offering includes a $99.00 Cash Card Program for Analog Insulins and NovoLog. In addition to this, follow-on brand versions of NovoLog and NovoLog Mix will be made available from the newly established Novo Nordisk US affiliate Novo Nordisk Pharma Inc.

Research Methodology

The market study of the US pen needle market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report is intended for pen needles manufacturers, insulin pen manufacturers, component manufacturers, government organizations, regulatory bodies, hospitals & pharmacies, research institutes, and other market participants for overall market analysis and competitive analysis. The report provides an in-depth analysis of market size, different products, and growth opportunities in the market. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions.

Market Segmentation

1. US Pen Needle Market Research and Analysis by Type
2. US Pen Needle Market Research and Analysis by Therapy
3. US Pen Needle Market Research and Analysis by Mode of Purchase 

The Report Covers

• Comprehensive research methodology of the US pen needle market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the US pen needle market.
• Insights about market determinants which are stimulating the US pen needle market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.