Injection Pen Market 2022 - Market Size & Forecast, Industry Trends, Manufacturers Analysis, & Opportunities 2030

The global injection pen market is anticipated to expand at a compounded annual growth rate (CAGR) of 6.0% during the forecast period of 2022-2030.

Injection pens, also known as insulin pens, are specially designed advanced prefilled syringes used for self-administration of drug delivery in several treatments and chronic conditions.  With the help of these pens, hormone or drugs in small amounts are injected into the patient's body for the treatment of targeted diseases. These pens are portable, more accurate, simple, user-friendly, and convenient in delivery and effectively replace traditional injections methods for addressing a variety of medical conditions.

Growth Drivers:

The primary factors driving the growth of this market include: the burgeoning prevalence of diseases such as diabetes and arthritis among people across the globe; the soaring demand for safer and advanced drug delivery devices; the ever-increasing geriatric population; the growing technological advancements in injection pens; the escalating number of regulatory approvals and presence of favorable reimbursement scenario in matured economies; the rising usage of home health care; the increasing government healthcare expenditure and availability of favorable healthcare insurance policies etc.

Additionally, as the usage of injection pens is rising among people suffering from insulin related problems across the world, the manufacturers present in the injection pen market are seen to putting major emphasis on enhancing the: design parameters of the injection pens, the injection convenience, insulin-dose setting dial use, ease of cartilage replacement and prominence of audio clicks. This factor is anticipated to bode tremendously well for the growth of the global injection market during the forecast period.

Moreover, the invariable success achieved by injection pens in the management of various chronic as well as acute diseases, has now directed the focus of the studies on the application of these pens in major diseases that require periodic dose injections, including cancer, multiple sclerosis, Hepatitis C, etc. This factor is projected to create ample growth opportunities for the growth of the global injection pen market during the forecast period.

However, factors such as the dearth of awareness concerning the usage of injection pens, the high cost associated with injection pens, and the growing preference for alternate drug delivery modes owing to fear of syringes are expected to hinder the growth of the global injection pen market to comes extent during the forecast period.

Injection Pen Market Segmentation:

By Type:

·         Disposable Injection Pens

·         Reusable Injection Pens

 

By End User:

·         Home Care

·         Hospital & Clinics

·         Others

 

By Therapy:

·         Diabetes

o    Insulin

o    GLP-1

·         Growth Hormone Therapy

·         Fertility

·         Osteoporosis

·         Other Therapies

 

By Dosage:

·         Fixed

·         Variable

 

By Region:

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East and Africa

 

Based on type, the disposable injection pens segment captured the largest share of the global injection pen market in 2021. The segment is predicted to continue with its dominance in the market further during the forecast period of 2022-2030. The ease-of-use attribute of these pens and the presence of a built-in cartridge system that eradicates the need for manually loading the cartridge, making it more convenient for patients with reduced dexterity or visual impairments, is the major factor attributable to the large share of this segment.

 

Based on therapy, the diabetes segment acquired the largest share of the global injection pen market in 2021. This trend is estimated to remain unchanged over the forecast period of 2022-2030. The rapidly surging prevalence of diabetes; and the rising awareness about insulin pens among diabetic patients are the predominant factors driving the growth of this segment.

 

Based on end user, the home care segment is slated to witness the highest growth in the market during the forecast period. Factors such as the increasing base of the old-age population, the ease of drug administration, the escalating rate of technological advancements, and favorable reimbursement scenarios across various regions are primarily ascribed to the growth of this particular segment.

 

Regional Outlook:

The North American region dominated the global injection pen market in 2021. The region is anticipated to retain its dominance further in the market during the forecast period due to the rising population base suffering from diabetes; the increasing number of technological advancements, well-established market players, and the surging awareness among people about injection pens in the region. The U.S. and Canada are the major contributors to the growth of the market in the region.

The European region also held a prominent share in the global injection pen market in 2021. The region is projected to witness robust growth in the market during the forecast period. The growth of the market in the region can be attributed to the soaring diabetes cases in the region, which is compelling the manufacturers to develop effective and convenient ways to handle the disease.

The Asia Pacific region is poised to emerge as the fastest-growing regional market for injection pen during the forecast period owing to rapid population growth; the rising patient base; the surging cases of diabetes; the increasing entry of new players offering new and advanced products in the region; the availability of cost-effective injection pens and the escalating healthcare expenditure in the region. India and China are the major contributors to the growth of the market in the region.

Key Companies in Injection Pen Market:

·         AstraZeneca

·         Novartis

·         Roche Holding AG

·         Medtronic

·         Sanofi

·         Becton Dickinson and Company 

·         Eli Lilly Company 

·         Novo Nordisk 

·         F. Hoffman-La Roche

·         Mylan N.V

·         Sandoz Inc

·         Merck Group

·         Haselmeier

·         Gerresheimer AG

·         Ypsomed

·         Pfizer Inc.

·         Owen Mumford Ltd

·         GlaxoSmithKline plc

·         Other Players