Latin America Pen Needles Market

Latin America Pen Needles Market Size (2024 to 2029)

The size of the pen needles market in Latin America is expected to reach USD 0.32 billion by 2029 from USD 0.19 billion in 2024, growing at a CAGR of 11.25% between 2024 to 2029.

Pen needles are used to deliver the medication (such as insulin or other injectable medications) combined with injection pens. A pen needle comprises a hollow needle attached to an injection pen. Pen needles are available with varied needle lengths and are majorly utilized by diabetes patients.

The increasing number of aging population & diabetes patient population, rising number of technological advancements for insulin delivery, and government initiatives towards the diabetes conditions drive the growth of the Latin American pen needles market. However, unawareness of diabetic patients towards advanced insulin delivery devices and reuse of pen needles are restraining the growth of the Latin American pen needles market.

This research report on Latin America Pen Needles Market has been segmented and sub-segmented into the following categories.

By Therapy: Insulin Therapy, GLP-1 Therapy & Growth Hormone Therapy

Based on therapy, insulin therapy is estimated to command the largest share of the Latin American pen needles market in 2019 and is expected to grow at the highest CAGR during the forecast period.

By Type: Standard Needle, Safety Needle

Based on type, the standard pen needle segment is estimated to account for a larger share of the Latin American pen needles market in 2019. In contrast, safety pen needles segments are estimated to grow at a higher CAGR for the next five years.

By Needle Length: 4mm, 6mm, 8mm, 10mm, 12mm

Among the length of pen needles, 8mm is estimated to command the largest share of the Latin American pen needles market in 2019, and 4mm is expected to grow at the highest CAGR during the forecast period.

By Mode of Purchase: Retail, Non-Retail

Based on the purchase mode, retail purchase mode is estimated to account for a larger share of the Latin American pen needles market in 2019 and is expected to grow at a higher CAGR for the next five years.

By Country: Brazil, Argentina, Chile and Rest of Latin America

Some of the notable companies dominating the Latin America Pen Needles are Becton Dickinson and Company (U.S.), Novo Nordisk A/S (Denmark), Ypsomed Holding AG (Switzerland), UltiMed, Inc. (U.S.), Allison Medical, Inc. (U.S.), Owen Mumford, Ltd. (U.K.), B. Braun Melsungen (Germany), Artsana S.p.a. (Italy), HTL-STREFA S.A. (Poland), Terumo Corporation (Japan), among others.