Embecta Corp. (US) and Novo Nordisk (Denmark) are Leading Players in the Pen Needles Market
The global Pen Needles market size is projected to reach USD 2.5 billion by 2028 from USD 1.6 billion in 2023, at a CAGR of 9.1% during the forecast period.
The growing prevalence of chronic diseases, a favorable reimbursement scenario in select countries, and growing adoption of self-administration are expected to attribute to the growth of the market in the coming years.
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The key players which are operating in the pen needles market are Embecta Corp. (US), Novo Nordisk (Denmark), and B. Braun Melsungen AG (Germany). The players in the global pen needles market have employed various strategies to expand their global footprints and increase their market shares.
Embecta Corp. (US)
Embecta Corp. is the largest player in the global pen needles market. The company has a vast portfolio of pen needles including both standard and safety pen needles. Since it’s a spin-off of Becton, Dickinson and Company, Embecta has an extensive distribution network across the globe. The company has several manufacturing facilities for pen needles globally, including the largest worldwide manufacturing facility for pen needles in Ireland.
Novo Nordisk (Denmark)
Novo Nordisk is a leading player in diabetes related products. In fact, its Diabetes Care segment was its largest and fastest-growing segment in 2022. The company also invest a significant amount of its revenue in R&D, to further improve its position in the pen needles market. The company manufactures in 5 locations across 4 continents globally, and distributes its products in 75 countries worldwide.
B. Braun Melsungen AG
Braun Melsungen AG offers a diverse range of pen needles under its OmniCan brand name. This includes needles of various lengths, thicknesses, and types. The company operates through 262 companies worldwide and has a strong geographical network .The company has manufacturing facilities in Germany, Brazil, China, France, India, Malaysia, Poland, Switzerland, Spain, Hungary, the US, and Vietnam, among other countries.
Related Reports:
Pen Needles Market by Type (Standard Pen & Safety Pen Needles), Length (4mm, 5mm, 6mm, 8mm, 10mm, 12mm), Therapy (Insulin, GLP 1, Growth Hormone), and Mode of Purchase, End User, Unmet Needs, Key Stakeholders, Buying Criteria - Global Forecast to 2028
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