New York, Global Injection Pen Market was valued at USD 37.8 billion in 2021 and it is anticipated to grow further to USD 75.7 billion by 2031, at a CAGR of 7.2% during the forecast period.
The injection pen market report from Global Insight Services is the single authoritative source of intelligence on Injection Pen Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
The medication is injected into the body using injection pens. They are employed to administer insulin to the patient. Patients can adhere to the prescribed treatment plan with the aid of injectable pens. This method has assisted in enhancing the patient’s quality of life and lowering healthcare costs. The injection pen approach is a self-management treatment option for multiple sclerosis and diabetes that is widely used by top pharmaceutical businesses as a drug delivery system. An injection pen has an insulin cartridge, a disposable pen, a needle, and a dial for dosage measurement.
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Market Trends and Drivers
In recent years, there has been a dramatic rise in the prevalence of chronic illnesses. Multiple sclerosis, diabetes, osteoporosis, cardiovascular disease (CVD), and other illnesses call for the administration of injectable medications on a daily or weekly basis. Due to the frequent drug administration, injector pens are the best choice for chronic disorders. Injection pens have become the new standard for injectable medicine delivery methods. Their ease of use, dependability, and capacity to be provided by the patient alone without the assistance of a doctor have caused their popularity to grow. In order to effectively manage the expanding patient population and improve patient compliance with therapies, injectable pen technologies have come under more scrutiny as a result of the rising prevalence of chronic diseases.
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Global Injection Pen Market Segmental Overview
The report analyses the global injection pen market based on the product type, therapy, end user, and region.
Global Injection Pen Market by Product Type
Based on the product type, it is segmented into disposable injection pen and reusable injection pen. The disposable injection pen segment is anticipated to dominate the market during the forecast period. The key factors such as the low danger of infection or contamination of the medicine, good patient compliance, and ease of use is boosting the growth of the market.
Global Injection Pen Market by Therapy
Based on the therapy, it is segmented into diabetes, growth hormone, osteoporosis, fertility, auto-immune diseases, cancer, and other therapies. The diabetes segment is anticipated to dominate the market during the forecast period. The key factors such as high prevalence of diabetes coupled with increasing awareness of insulin pens among diabetic patients, growing elderly population, and the growing availability of insulin pens in the market are boosting the growth of the market.
Global Injection Pen Market by End User
Based on the end user, it is segmented into home care settings and hospitals & diagnostic clinics. The home care settings segment is anticipated to dominate the market during the forecast period. Some of the primary factors boosting the growth of the market are expanding elderly population, convenience of drug administration, rising prevalence of chronic diseases, technological advancements, and advantageous reimbursement situations.
Geographical Analysis of the Global Injection Pen Market
Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America region dominated the injection pen market during the forecast period. The growth of the market is primarily attributed to the increasing prevalence of diabetes, favorable reimbursement scenario, and the increasing number of awareness programs.
Major Players in the Global Injection Pen Market
The major players studied in the market are Novo Nordisk A/S (Denmark), Becton, Dickinson and Company (US), Ypsomed Holding AG (Switzerland), Sanofi (France), Eli Lilly and Company (US), Merck KGaA (Germany), 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), and Wockhardt Ltd. (India) among others.
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