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.
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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.
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US Pen Needle Market Segmentation
By Type
· Standard Pen Needles
· Safety Pen Needles
By Therapy
· Insulin
· GLP-1
· Growth Hormones
By Mode of Purchase
· Retail
- · Non-Retail
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