The global injection pens market is projected to reach USD 53.3 billion by 2026 from USD 37.6 billion in 2021, at a CAGR of 7.2% during the forecast period. Growing prevalence of chronic diseases, increasing number of regulatory approvals, favourable reimbursement and government support, and technological advancements in injection pens tend to drive the market. Though the market is growing, but factors like alternative drug delivery modes, poor reimbursement scenarios in developing regions and needle anxiety tend to restrain the market growth. Whereas, needle-stick injuries & misuse of injection pens tend to pose a challenge for the market. But, the opportunities for the market lie in the patent expiry of biologics and emerging markets.
Based on product, the disposable injection pen segment holds the largest share during the forecast period. Based on type, the injection pens market is segmented into reusable and disposable injection pens.In 2020, the disposable injection pens segment accounted for the largest share of the global injection pens market.
The large share of the disposable injection pens segment can be attributed to their ease of use and the presence of a built-in cartridge which eliminates the need for manually loading the cartridge, making it more convenient for patients with reduced dexterity or visual impairments.
Based on therapy, the diabetes segment holds the highest growth rate during the forecast period. Based on therapy, the injection pens market is segmented into diabetes, growth hormone therapy, fertility, osteoporosis, autoimmune diseases, cancer, and other therapies.In 2020, the diabetes segment accounted for the largest share of the injection pens market.
The large share of this segment is attributed to the high prevalence of diabetes, increasing awareness about insulin pens among diabetic patients, the rising geriatric population, increased patient support programs by companies & government for diabetes, and the growing availability of insulin pens in the market.
Based on diabetes therapy, the in GLP-1 segment holds the highest growth rate during the forecast period. Based on type of diabetes therapy, the injection pens market for diabetes therapy is segmented into insulin and GLP-1.In 2020, the GLP-1 segment accounted for the highest growth rate of the injection pens market for diabetes therapy.
The growth in the market can be attributed to the higher efficiency of GLP-1 to reduce the blood sugar levels.
Based on end user, the home-care settings segment holds the highest growth rate during the forecast period. Based on end users, the injection pens market is segmented into home care settings and hospitals & clinics.In 2020, the home care settings segment accounted for the highest growth of the injection pens market.
The growing geriatric population, ease of drug administration, increasing prevalence of chronic diseases, technological advancements, and favorable reimbursement scenarios are some of the key factors driving the growth rate of the home care settings market.
Asia Pacific is expected to grow at the highest rate in 2020 Asia Pacific is expected to grow at the highest rate in the forecast year. The rising geriatric population, growing per capita income, increasing investments in the healthcare industry by key market players, rising demand for advanced technologies, and expansion of private-sector hospitals to rural areas in various countries in the APAC are the major factors driving the growth of the injection pen market in this region.
Break of primary participants was as mentioned below: • By Company Type – Tier 1–60%, Tier 2–30%, and Tier 3–10% • By Designation – C-level–30%, Director-level–50%, Others–20% • By Region – North America–45%, Europe–15%, Asia Pacific–25%, Latin America- 10%, Middle East and Africa–5%
Key players in the Injection pen market Prominent players in the injection pens market include Novo Nordisk A/S (Denmark), Becton, Dickinson and Company (US), Ypsomed Holding AG (Switzerland), Sanofi (France), Eli Lilly and Company (US), Merck KGaA (Germany), Novartis AG (Switzerland), AstraZeneca plc (UK), F. Hoffmann-La Roche Ltd. (Switzerland), Owen Mumford (UK), Sulzer Ltd. (Switzerland), Sun Pharmaceutical Industries Ltd. (India), Pfizer (US), Biocon Ltd. (India), Lupin Ltd. (India), Wockhardt Ltd. (India), AptarGroup, Inc. (US), and Gerresheimer AG (Germany). The other players includes Shaily Engineering Plastics Ltd. (India), Bespak Europe Ltd. (UK), SHL Medical AG (Switzerland), Emperra GmbH (Germany), Nemera France SAS, Companion Medical, Inc. (US), and Jiangsu Delfu Medical Device Co., Ltd. (China).
Research Coverage: The report analyzes the injection pen market and aims at estimating the market size and future growth potential of this market based on various segments such as product type, therapy, end user, and region.The report also includes a product portfolio matrix of various injection pen products available in the market.
The report also provides a competitive analysis of the key players in this market, along with their company profiles, product offerings, and key market strategies.
Reasons to Buy the Report The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them, garner a more significant share of the market. Firms purchasing the report could use one or any combination of the below-mentioned strategies to strengthen their position in the market.
This report provides insights into the following pointers: • Market Penetration: Comprehensive information on product portfolios offered by the top players in the global injection pen market. The report analyzes this market by product type, therapy, end user and region • Product Enhancement/Innovation: Detailed insights on upcoming trends and product launches in the global injection pen market • Market Development: Comprehensive information on the lucrative emerging markets by product type, therapy, end user and region • Market Diversification: Exhaustive information about new products or product enhancements, growing geographies, recent developments, and investments in the global injection pen market • Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, competitive leadership mapping, and capabilities of leading players in the global injection pen market.
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