USD 38.74 billion
Injection Pen Market Size, Share, Growth Analysis, By Type(Disposable Injection Pens, Reusable Injection Pens), By Therapy(Diabetes (Insulin, Glucagon-Like Peptide-1), Growth Hormone Therapy, Osteoporosis), By End User(Home Care Settings, Hospitals & Clinics), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2646 |
Region:
Global |
Published Date: October, 2024
Pages:
219
|Tables:
88
|Figures:
66
Injection Pen Market Insights
Global Injection Pen Market size was valued at USD 45 billion in 2022 and is poised to grow from USD 48.57 billion in 2023 to USD 89.43 billion by 2031, growing at a CAGR of 7.93% during the forecast period (2024-2031).
Growing rates of chronic illnesses including diabetes and cancer, as well as an increase in the number of elderly people, are the main drivers of the global injection pen market. Thus, the two main reasons propelling the growth of the global injection pen market are the rise in awareness of self-injectable devices and the incidence of chronic diseases. Additionally, the primary driver of market expansion is the growing use of reusable injectable pen with improved technology among diabetic patients. For example, Medtronic Plc introduced the InPen, a reusable smart injectable pen for diabetics, in 2020.
The pen estimates the number of carbs in meals and computes insulin dosages using Bluetooth technology. Reciprocating that market share of injection pen is also contributing due to the increasing usage of automated injection pen. Healthcare providers increasingly favor automated injection pen as they can administer medication to patients accurately, safely, and conveniently. Due to the rapidly growing number of elderly people who are more susceptible to chronic illnesses like diabetes and cancer, the need for injectable pen is not just in developed nations but is also being seen in developing nations. These are the elements that drive the market expansion.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Reusable Injection Pens
Fastest Growth
Reusable Injection Pens
Growth Rate
7.91% CAGR
Global Injection Pen Market ($ Bn)
Country Share for North America Region (%)
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Injection Pen Market Segmental Analysis
Global Injection Pen Market is segmented by Type, Therapy, End User, and region. Based on Type, the market is segmented into Disposable Injection Pens, and Reusable Injection Pens. Based on Therapy, the market is segmented into Diabetes, Growth Hormone Therapy, Osteoporosis, Fertility, Obesity, and Other Therapies. Based on End User, the market is segmented into Home Care Settings, Hospitals & Clinics. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis by Therapy
As per categorization by therapy, the market is classified as growth hormone, osteoporosis, fertility, diabetes, and others. Among these, diabetes earned the largest share and continues to dominate the global injection pen market share. The global market constantly witnesses novel changes with regard to diabetes treatment. This is due to the incorporation of smart technology and ease of use designs. These devices are a must for controlling diabetes given their precise dosage, simplicity and enhanced patient adherence. The growth is linked to the global increase in the diabetes population, the increasing reluctance towards invasive treatment options and the growing inclination for bespoke therapies techniques that heal and enhance the quality of life faster.
Growth Hormone Therapy is poised to be the fastest-growing segment in the global injection pen market due to several key factors. The growing globalization of a actively working-age population and increasing incidence growth hormone – deficiency disease particularly, amongst children and adults increases the need for effective treatment options. Moreover, improvements in injection pen technology have led to the introduction of more comfortable and easier to use devices ensuring better compliance from the patients. The other strategy resulting in enhancing the growth hormone therapy growth is the constructed or enhanced awareness and education concerning the advantages of the treatment. Also, this therapy has been identified as one of the growing areas within the injection pen category due to increased attention towards oral therapies in conjunction with the oral drug delivery systems research and development.
Analysis by End User
The global injection pen market is witnessing significant innovation in home care settings, driven by advancements in user-friendly designs and smart technology. Such injection pens enable self-injection, thereby allowing patients to control diseases like diabetes and deficiency of growth hormone amongst others, within the comforts of their homes. The home care segment is the most dominant segment in this market due to the increasing demand for healthcare services at homes, which promotes self-care among patients and lessen the pressure on hospitals and other health care institutions. Also, the rise in the elderly population and the focus on more patient-centric care are driving the growth in the use of injection pens in home care settings.
The hospital and clinic segment is set to be the fastest-growing segment in the global injection pen market due to the rising incidence of chronic diseases that require regular medication administration, such as diabetes and hormonal disorders. The trend towards using injection pens by healthcare professionals is being witnessed due to their accuracy, ease in carrying out the procedure, and minimizing dosage errors hence enhancing patient care. Also, an increase in the rate of use of such devices can be associated with the advancement of training and education of the medical personnel on how to use the devices. There is also an increasing demand for injection pens in hospitals and clinics due to the quest for enhanced healthcare delivery and the incorporation of devices into the clinical environment.
Global Injection Pen Market By Product Type
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Injection Pen Market Regional Insights
North America dominates the global injection pen market due to several key factors, including a well-established healthcare infrastructure, high patient awareness, and significant investment in healthcare innovation. The region has a high incidence of chronic illnesses like diabetes and deficiency of growth hormone, which propels the market for self-administration devices. Also, adoption of injectable pens is facilitated by strong reimbursement policies for new medical technologies. Moreover, owing to the presence of numerous global pharmaceutical innovators and constant improvement of pen technology for better patient experience and compliance, North America remains the dominant region in the injection pen market.
Europe is emerging as the fastest-growing region in the global injection pen market, primarily due to increasing healthcare expenditure and a strong emphasis on patient-centered care. The increasing prevalence of chronic diseases most notably diabetes in addition to the aging population is expected to boost the demand for fast and efficient self-administration devices. Furthermore, the European regulatory authorities encourage the implementation of advanced medical technologies which is beneficial for the injection pen manufacturers. Also, due to the rising awareness of diabetes management as well as home care solutions, the growth of the market is expected to position Europe as one of the most important regions in the injection pen market.
Global Injection Pen Market By Region
- Largest
- Fastest
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Injection Pen Market Dynamics
Drivers
Rising Prevalence of Chronic Diseases
- The rise in cases of diseases like diabetes, obesity and hormonal deficiencies is one of the key factors giving rise to the demand for injection pens globally. As patients increasingly need to be on treatment constantly, the need for devices for self-administration that are simple to use, accurate and effective continues to increase thereby improving compliance and patient outcomes.
Technological Advancements in Devices
- The growth of the market is due to various innovations developed in the injection pen technology, for instance smart features, dose tracking, and better ergonomics. The innovations impress not only on the convenience and ease of use for patients but also on delivery of drugs accurately which builds trust of patients and health care providers in the effective management of chronic illness.
Restraints
Competition from Alternative Delivery Methods
- The growing ease of access to alternative drug delivery means, through oral medications, infusion pumps, and the like, presents a challenge to the global injection pen market. As patients and caregivers seek the convenience of these options, injection pens may suffer from a demand/supply challenge thereby affecting the overall global injection pen market growth.
Risk of Injection Errors
- Although they are advantageous; injection pens, moreover, pose a risk of misuse by patients, for example, through self-injecting excessive medication or adopting the wrong mode of injecting. Such factors may result in poor patient results; hence, some of the healthcare practitioners prefer not to embrace these strategies in totality. Such issues related to safety and efficacy might also restrict the expansion and obsolescence of the particular market.
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Injection Pen Market Competitive Landscape
The competitive landscape of the global injection pen market is characterized by the presence of key players focused on innovation and technological advancements. Global pandemic leading international businesses including Novo nordisk, Sanofi, Boehringer Ingelheim and Pfizer are working on advanced injection pens to improve usability and improve compliance. The aforementioned firms are injecting funds into research and development activities in order to incorporate smart technology and enhance the ergonomic designs of the devices, thereby increasing competition and subsequently fueling the market growth due to the increasing demand for solutions to manage chronic diseases.
Top Player’s Company Profile
- Novo Nordisk A/S (Denmark)
- Eli Lilly And Company (US)
- Sanofi (France)
- Ypsomed Holding AG (Switzerland)
- Becton, Dickinson And Company (US)
- Merck KGaA (Germany)
- AstraZeneca (UK)
- Owen Mumford (UK)
- Sun Pharmaceutical Industries Ltd (India)
- Pfizer Inc. (US)
- Biocon (India)
- Lupin (India)
- Wockhardt Ltd. (India)
- Medtronic (US)
- Gerresheimer AG (Germany)
- Shaily Engineering Plastics Ltd. (India)
- SHL Medical AG (Switzerland)
- Emperra GmbH E-Health Technologies (Germany)
- Nemera France SAS (France)
- Jiangsu Delfu Medical Device Co., Ltd. (China)
- Solteam Medical (China)
- Stevanato Group (Italy)
- Wanhai Medical Instruments Co., Ltd. (China)
Recent Developments
- In July 2024, Sanofi lauded the SoloSTAR 2 as a new design of an insulin pen changing the entire perspective to the functionality of the pen. The insulated flow injector has a simplified dose dial and a larger display. This however, is aimed at the overall user satisfaction with the diabetic patients who use insulin therapy.
- In September 2024, Eli Lilly announced its new SmartPen technology, which is meant to be adopted into a digital health ecosystem. This injection pen helps patients in tracking their doses in real-time, and this enables improved interaction with medical practitioners and adjusting treatment regimens for better and effective management of diabetes.
- In August 2024, Novo Nordisk introduced its new state-of-the-art insulin injection device, the FlexTouch Smart, which comes with Bluetooth technology. This unique device enables users to download a mobile application which facilitates tracking of dosage and provides reminders in order to help patients easily manage diabetes and comply with their treatment plans.
Injection Pen Key Market Trends
- Rising Adoption of Smart Injection Pens: A notable trend in the global injection pen market is the integration of smart technology. These technologies equipped devices have edge over normal devices by enabling Bluetooth connectivity and compatibility with mobile applications that assists in monitoring the level of medication used by the patients in real time thereby improving patient compliance and enhancing doctor patient communication.
- Shift Toward Home-Based Healthcare: Global injection pen market trends are witnessing an inclination towards home care solutions. Most of the patients are willing to administer drugs by themselves therefore companies are concentrating on the making easy to use injection pens. This change promotes greater patient freedom while lowering health care costs and improving adherence to treatment in the overall.
Injection Pen Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, in conclusion, the global injection pen market is poised for significant growth driven by the rising prevalence of chronic diseases and an aging population. Innovations in technology, particularly the introduction of smart and reusable injection pens, enhance patient adherence and ease of use.
Besides, a transition towards the usage of health care services domiciliary also facilitates the patients in managing their conditions with a lot of independence. Given the competitive environment which is characterized by a number of developments from the major players, the global injection pen industry is also positioning itself in line with the changes in the healthcare requirements in order to provide better treatment to the patients around the world.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 45 billion |
| Market size value in 2031 | USD 89.43 billion |
| Growth Rate | 7.93% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Injection Pen Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Injection Pen Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Injection Pen Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Injection Pen Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Injection Pen Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Injection Pen Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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