USD 38.74 billion
Injection Pen Market Size, Share, Growth Analysis, By Type (Disposable Injection Pens, Reusable Injection Pens), By Therapy (Diabetes, Growth Hormone Therapy), 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).
The global injection pen market is experiencing robust growth in recent years. The market is upsurging by the shift of ever-evolving medical solutions. The market is undergoing a transformative phase that is marked by robust growth accredited to the rising prevalence of chronic diseases, patient centric care, and increasing technological advancements in healthcare. The market is divided in three segments such as product type, therapy type, and end use. Based on the product type, the disposable and reusable injection pens both are contributing a major role in the market. Disposable injection pens have gained significant attention due to their cost-effectiveness and ease of use. The accessibility they afford, intensely in resource limited settings and emerging economies has propelled their adoption. Also, within the realm of therapy-specific injection pens, insulin pens hold a predominant position mainly driven by the rising global prevalence of diabetes. The burgeoning aging population further emphasizes the demand for effective and patient friendly insulin delivery devices such as GLP-1 pens. These pens have emerged as the most developing therapeutic pen by key players in the competitive landscape of this market. Additionally, the global injection pen market shows diverse regional trends. North America stands as leader in the global injection pen market with the hub for various healthcare industry key players. The United States has a lot of manufacturers in the healthcare systems, and they are continuously expanding their presence in North America.
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 Product Type
In 2022, the disposable injection pens emerged as the largest segment by product type in the global Injection Pen market. Its dominant contribution in the market is attributed to its cost effectiveness and widespread adoption, particularly in the regions with a high problem of chronic diseases. Healthcare providers and patients similarly favor disposable pens for their suitability and ease of use. Disposable pens come already filled (prefilled) with a set amount of medicine. These pens are pre-filled with insulin and are thrown after the insulin cartridge is empty.
Concurrently, the Reusable Injection Pens segment emerged as the fastest growing segment in the global Injection Pen market in 2022. The growth is fueled by increasing environmental concerns and a shift concerning sustainable healthcare practices and activities. Reusable pens come with adjustable dose settings that have gained popularity in developed markets where patients are gradually aware of the ecological impact of medical waste. A reusable pen can be filled again with another medical substance such as a reusable pen containing an insulin cartridge that can be replaced. When the cartridge is empty, it is thrown away. Then a new, prefilled cartridge is put in.
Analysis By Therapy Type
In the year 2022, the Insulin pens maintain their position as the largest market segment, primarily driven by the rising global prevalence of diabetes. As of today, the majority of people are suffering from diabetes at an early age. The increasing prevalence of diabetes enhances the need of these therapies that continuously surges the demand of these injection pens. These insulin pens are made as handy and easy to use that’s contributing to the major adaptability of these pens and resulted as the growing factor of this injection pen market.
Conversely, GLP-1 pens emerged as the fastest growing segment in the global injection pen market. This growth is fueled by the growing demand for wide-ranging diabetes management solutions. GLP-1 pens offer the added advantage of weight control, tempting both healthcare providers and patients seeking more advanced and effective treatment options for diabetes. GLP-1 segment’s growth is further expected to grow in coming years.
Global Injection Pen Market By Product Type
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Injection Pen Market Regional Insights
North America region currently stands as the leader in the global injection pen market and emerged as the largest market region in 2022. North America’s dominance can be attributed to several factors such as well-established healthcare infrastructure, high prevalence of chronic diseases, and a strong prominence on patient-centric care. In North America, the United States particularly plays a pivotal role in driving market growth due to its wide diabetic population and cutting-edge healthcare facilities.
On the other hand, Asia Pacific continuously increases its dominating presence in the injection pen market which represents it as a fastest growing region in the market. Factors such as awareness of chronic diseases, improving the healthcare sector, and major surge in handy and easy to use home self-administration devices. Countries such as China, India, and South Korea are witnessing a growing demand for these injection pens, because of the rising prevalence of diabetes in the aging population. Asia Pacific region’s developing healthcare landscape and economic development contribute to the enhanced pace of market expansion.
Global Injection Pen Market By Region
- Largest
- Fastest
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Injection Pen Market Dynamics
Drivers
Technological Integration in Drug Delivery Systems:
- One of the key market drivers in the global Injection Pen market is integration of technologies in drug delivery systems. The development of sophisticated and user-friendly injection pen technologies has notably enhanced the patient experience and improved treatment consequences. Features such as electronic dose memory, Bluetooth connectivity, for data tracking, and more accurate dose delivery systems have increased the recognition and adoption of injection pens among patients, caregivers, and healthcare professionals. This technological evolution not only enhances the overall usability of handiness of injection pens but also contributes to increased patient observance to prescribed therapies.
Restraints
Affordability and Accessibility Barriers in Developing Regions:
- A notable market restraint which is affecting the global injection pen market is the presence of affordability and accessibility barriers in developing regions. The high cost of these pens and related therapies can be a burden for the patients in the respected regions with the lower economic growth and limited healthcare infrastructure. In addition, the availability of injection pens may be restricted in some areas and can hinder patient’s access to these advanced drug delivery devices.
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Injection Pen Market Competitive Landscape
The injection pen market is characterized by intense rivalry among key players striving to capture a significant market share. Leading companies are consistently engaged in innovation, strategic partnerships, and product advancements to maintain their competitive edge. These industry giants leverage their extensive portfolios to offer a range of solutions encompassing disposable and reusable injection pens. As the market witnesses rapid technological advancements, smaller players and startups also contribute by introducing niche solutions and innovative technologies, contributing to the dynamic and ever-evolving competitive dynamics within the market.
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 January 2024, Eli Lilly (LLY.N) announced a new project and stated that Mounjaro drug will be available for British patients in a few weeks, after permission for pre-filling the medication into an injectable pen. Mounjaro, an app to fight obesity and diabetes, will be available in the UK market, which is a big step forward. The well-known American pharmaceutical company Eli Lilly stressed in a formal statement that the Medicines & Healthcare Products Regulatory Agency (MHRA) approval places Britain as the first significant market to sell the drug in the handy multi-shot pen form, known as Kwikpen.
- In April 2023, Mitsubishi Tanabe Pharma Corporation (MTPC) and Eli Lilly Japan announced the launch of Mounjaro subcutaneous injectable 2.5 mg/ 5 mg ATEOS in Japan. Mounjaro is administered subcutaneously once a week using a single use autoinjector device (ATEOS). A single dosage of the loaded medication is given by pressing the injection button on a specific pen injector, which automatically inserts the needle beneath the skin. The patient is not required to administer the medication or handle the needle.
- In February 2023, A disposable pen injector was added to Phillips-Medisize's product line, a Molex subsidiary. The business released a disposable pen injector as part of its product line expansion. Phillips-Medisize provides pharma companies with a naturally competitive pen injector that is suitable for high-volume manufacturing and helps them navigate the market more quickly, effectively, and affordably.
Injection Pen Key Market Trends
- Personalized and Connected Injection Pen Solutions: A prominent trend shaping the global injection pen market is the increasing prominence on personalized and connected pen solutions. The integration of technology such as connectivity features and data sharing integration are transforming traditional injection pens into smart and personalized devices. These connected pen solutions enable real-time monitoring of adherence of medication, tracking doses, and managing patients remotely.
Injection Pen Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global Injection Pen market analyses, the market is witnessing significant growth driven by a convergence of factors such as burgeoning aging population, technological integration, and demand for home friendly solutions. The rising prevalence of chronic diseases exhibits the need for these injection pens across the world. In the global injection pen market, North America is a dominating region with the ever-evolving cutting edge technologies and key players. Key players play a crucial role in the growth of the market. Rapid geographic expansions, innovations, mergers and strategic collaborations emerged as growth factors of this market. Overall, the injection pen market is going to experience robust growth in coming years.
| 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 |
|
| 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.
Injection Pen Market Report Snapshots
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