Asia Pacific Lancet and Pen Needles Market Size More Than Doubles at Significant CAGR of 11.53% to Cross USD 3 Billion by 2030
Asia Pacific Lancet and Pen Needles Market is flourishing because of the rising prevalence of chronic diseases and rapidly aging population in the countries across the region.
Report Ocean, a leading strategic consulting and market research firm, in its recent study, estimated the Asia Pacific Lancet and Pen Needles Market size at USD 1,416.30 million in 2023. During the forecast period between 2024 and 2030, Report Ocean expects the Asia Pacific Lancet and Pen Needles Market size to expand at a CAGR of 11.53% reaching a value of USD 3,040.6 million by 2030. The aging population and the increasing incidence of chronic illnesses like diabetes are two major drivers of growth for the Asia Pacific Lancet and Pen Needles Market. Additionally, the needle market is expected to grow due to increased in-home care treatments and product technical advances.
Opportunity: Rising application in blood glucose monitoring
The Asia Pacific Lancet and Pen Needles Market is segmented into blood glucose monitoring, insulin delivery, and others, based on application. The insulin delivery segment accounts for the highest market share. Pen needles are increasingly gaining popularity among diabetic patients over the vial-and-syringe method for insulin administration owing to their ease of use, higher accuracy in the delivery of small insulin doses, as well as lower injection pain. Furthermore, higher patient satisfaction among people with diabetes is emerging as another favorable factor for the growth of insulin delivery.
Asia Pacific Lancet and Pen Needles Market
Segmental Coverage
Asia Pacific Lancet and Pen Needles Market - By End User
Based on end users, the Asia Pacific Lancet and Pen Needles Market is segmented into clinics, hospitals, medical institutions, and others. The hospital segment accounts for the highest market share. The growth of the market is mainly attributed to the high number of out-patient visits to hospitals for their regular blood sugar level checks and insulin shots.
Asia Pacific Lancet and Pen Needles Market - By Country
The in-depth research report on the Asia Pacific Lancet and Pen Needles Market covers a number of country-specific markets, including China, India, Japan, South Korea, Australia & New Zealand, Indonesia, Malaysia, Singapore, Vietnam, and the rest of APAC. China dominates the Asia Pacific Lancet and Pen Needles Market owing to the rising burden of diabetes in the country. China is the country with the highest estimated number of diabetics worldwide-141 million people-followed by India, which has 101 million diabetics. The increasing aging population is estimated to be crucial in fueling the demand for lancet and pen needles in China.
Competitive Landscape
Major players operating in the Asia Pacific Lancet and Pen Needles Market include Terumo Corporation, BD, Novo Nordisk A/S, B. Braun SE, Sara Healthcare, Jiangsu Huida Medical Instruments Co., Ltd, Nanchang Yili Medical Instrument Co., Ltd, Cardinal Health, and Phoenix Healthcare Solution LLC. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Asia Pacific Lancet and Pen Needles Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Asia Pacific Lancet and Pen Needles Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.