Asia Pacific Lancet and Pen Needles Market – Forecast to 2032

Asia Pacific Lancet and Pen Needles Market Overview

Asia Pacific Lancet and Pen Needles Market Size was valued at USD 1.85 Billion in 2023. The Global Asia Pacific Lancet and Pen Needles industry is projected to grow from USD 1.95 Billion in 2024 to USD 3.45 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 12.67% during the forecast period (2024 - 2032).

Lancet and pen needles can be effectively used for the blood-based diagnosis, monitoring, and medication of diseases like diabetes and osteoporosis. Pen needles are used in conjunction with the injection pens. Structurally, a pen needle consists of a hollow needle, which is embedded in a plastic hub and attaches to the injection pen. The lancet are double edged blades or needles and appears similar to the small scalpels.

The market for lancet and pen needles is expected to grow at a healthy CAGR during the forecast period in the Asia Pacific region due to increasing prevalence of diseases like diabetes and osteoporosis. According to a study conducted by the American Diabetes Association in 2016, about 80% of the diabetic patients resides in the developing countries and it is estimated that the rise of type 2 diabetes in South Asia is likely to be 150% between 2000 and 2035. Moreover, in the Western Pacific region, the number of diabetic patients is expected to reach 201.8 million by 2035.

Additionally, according to the International Osteoporosis Foundation by 2050, over ~50% of all osteoporotic hip fractures are expected to occur in Asia. Factors such as increasing geriatric population and growing healthcare expenditure along with favourable government policies are projected to boost the market growth during the forecast period. However, the need to remove the pin after a single use and high cost as compared to the insulin vials may restrain the market growth during the forecast period.

Intended Audience

Pharmaceutical companies

Biotechnological institutes

Government and Private Laboratories

Research and Development (R&D) Companies

Medical Research Laboratories

Market Research and Consulting Service Providers

Asia Pacific Lancet and Pen Needles Market Segmentation

The Asia Pacific lancet and pen needles market is segmented on the basis of therapy, gauge, needle length, and end users.

On the basis of the therapy, the market is segmented into insulin, glucagon-like peptide-1 (GLP-1), growth hormones, and others.

On the basis of the gauge, the market is categorized into 17/18G, 21G, 23G, and others.

On the basis of the needle length, the market is segmented into 4mm, 8mm, 12mm, and others.

On the basis of the end users, the market is segmented into hospitals & clinics, medical institutions & research organizations, and others.

Asia Pacific Lancet and Pen Needles Market Regional Analysis

On the regional basis, Asia Pacific is segmented into Japan, India, China, the Republic of Korea, Australia, and the Rest of Asia Pacific.

Japan holds a major share of the market followed by the Republic of Korea and Australia owing to the well-developed healthcare sector and high per capita healthcare expenditure. In 2014, according to the Statistics Bureau, Japan’s total medical care expenditure was about 11.20% of the national income, which accounted for USD 0.37 trillion. Additionally, favorable governmental policies boost the market growth in these regions.

China and India have a growing market due to huge population base, increasing demand for the better quality products, rapidly changing the economy, increasing healthcare expenditure, and rising number of pharmaceutical & biotechnological companies. Moreover, increasing number of healthcare organizations like a hospital, the private research institute has led to increasing in the market in India. Rest of Asia Pacific holds the least share of the market.

Key Players for Asia Pacific Lancet and Pen Needles Market

Some of the key players in the Asia Pacific lancet and pen needles market are:

BD. (U.S.)

Novo Nordisk A/S (Europe)

Ypsomed (Europe)

B. Braun Melsungen AG (Europe)

HTL-STREFA (Europe)

Terumo Corporation (Asia Pacific)

Artsana S.p.A. (Europe)

Owen Mumford Ltd. (Europe)

Recent Developments

February 2024: Eli Lilly hopes to launch its bestselling antidiabetic medication, specified as Mounjaro (tripeptide), which will be around early next year. Indian health regulatory bodies, including Mounjaro, are currently investigating this.

According to Minister Mykhailo Fedorov for Digital Transformation in Ukraine, contracts will be signed first about the mass production of attack drones similar to Russian Lancet drones in February 2024. Among them is the kamikaze drone Lancet manufactured by ZALA Aero Group, which has a range of forty kilometers and belongs to Kalashnikov Concern’s large enterprise division, Russian Armaments Manufacturer.

June 2023: Shilpa Biologicals Private Limited (SBPL), a wholly owned subsidiary of Shilpa Medicare Limited (SML), was granted marketing authorization for its Adalimumab injection in prefilled syringe (PFS). It is a biosimilar for high concentration adalimumab formulation for rheumatoid arthritis treatment.

During CPHI Japan 2023, SHL Medical introduced Molly modular platform autoinjectors with pre-installed Needle Isolation Technology (NIT).

September 2022: The Microsoft and Novo Nordisk partnership was announced in September 2022, merging computational services, cloud computing AI and knowledge thirst in drug development as well as Novo Nordisk’s data engineering services.

On September 2022, Novo Nordisk acquired Forma Therapeutics. That company is committed to changing lives of Sickle cell disease (SCD) patients among other rare blood diseases.

Report Attribute/Metric	Details
Market Size 2030	USD 3.45 Billion 2032
Compound Annual Growth Rate (CAGR)	12.67% 2032
Base Year	2021
Market Forecast Period	2024-2032
Historical Data	2018 - 2021
Market Forecast Units	Value (USD Million)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Product, technology, application, and end-users.
Geographies Covered	Americas, Europe, Asia Pacific and the Middle East and Africa
Countries Covered	China, Japan, India, Australia, South Korea, Australia, Rest of Asia-Pacific
Key Companies Profiled	BD. (U.S.), Novo Nordisk A/S (Europe), Ypsomed (Europe), B. Braun Melsungen AG (Europe), HTL-STREFA (Europe), Terumo Corporation (Asia Pacific), Artsana S.p.A. (Europe), Owen Mumford Ltd. (Europe).
Key Market Opportunities	Key market opportunities in the Asia Pacific lancet and pen needles market include rising diabetes prevalence, increasing healthcare expenditure, and growing awareness about advanced diabetes management technologies.
Key Market Dynamics	The key market dynamics for the Asia Pacific lancet and pen needles market include rising diabetes prevalence, increasing adoption of self-monitoring blood glucose devices, technological advancements in needle design, growing awareness and patient education, and expanding healthcare infrastructure.

Asia Pacific Lancet Pen Needels Market Highlights:

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Lancet and Pen Needles Market Research Report, By Therapy (Insulin, (GLP-1), Growth Hormones), Gauge (17/18G, 21G, 23G), Needle Length (4mm, 8mm, 12mm), And End Users (Medical Institutions & Research Organizations) – The Asia Pacific Forecast till 2032

Asia Pacific Lancet and Pen Needles Market Overview

Asia Pacific Lancet and Pen Needles Market Segmentation

Asia Pacific Lancet and Pen Needles Market Regional Analysis

Key Players for Asia Pacific Lancet and Pen Needles Market