Injection pen Market by Product Type (Disposable and Re-usable), Application (Diabetes, Growth Hormone Therapy, Osteoporosis, Fertility, and Other Therapies), End User (Hospitals, and Home Care), and Geography: Global Market Size Estimates and Forecast (2022-2030)
The market crossed US$ 38.0 billion mark in 2022 and is expected to hit US$ 58.0 billion by 2030, recording a CAGR of 7.5% during the forecast period.
The injection pen market has been significantly growing with the increasing prevalence of chronic diseases
Additionally, the rise in reimbursement policies and further government support heighten the market's overall growth. Further, the growing number of regulatory approvals from the medical authorities is expected to generate profitable opportunities for the market.
Within the report, the market is segmented into product, application, end-user, and geography. By product, the market is bifurcated into disposable and reusable. By application, the market is categorized into diabetes, growth hormone therapy, osteoporosis, fertility, and other therapies. Based on end-user, the market is bifurcated into hospitals and home care. Geographically, the market is sub-segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
Expiration of Patents of Biologics will provide future opportunity
Injection pens are used for inserting medicine into the body, such as injecting insulin into the patient. The injection pens generally consist of a medical cartridge (insulin cartridge), a disposable pen, a needle, and a dial for measuring the dosage.
The patent expiry of the biologics drug opens opportunities for developing cost-effective biosimilars. Several insurance companies and governments are favoring the use of biosimilars and generics. For instance, CVS Caremark, one of the major prescription insurers in the US, has replaced branded injectable drugs such as Lantus by Sanofi and EpiPen by Mylan with their biosimilars Basaglar (available in injection pen) by Eli Lilly and Adrenaclick (an autoinjector) by Amedra Pharmaceuticals. Since several2 injectables for the treatment of chronic diseases are biologics, the expiry of patents and growing support from governments and insurance providers provide an opportunity for the growth of the injection pens market.
Surge in Chronic diseases is one of the major factors accelerating market growth.
The prevalence of chronic disorders has been increasing rapidly in the past few years. Several disorders, such as diabetes, osteoporosis, cardiovascular disease (CVD), and multiple sclerosis, need every day or weekly injectable drug administration. Injection pens represent the new standard for injectable drug delivery systems. Their popularity has ascended attributable to their ease, dependability, and capability to be administered directly by the patient without the help of a healthcare professional. Therefore, the increasing prevalence of chronic diseases has led to a greater focus on injection pen technologies to effectively handle the rising patient population and increase patient compliance with therapies.
Recent strategic developments in injection pen market
The injection pen market has undergone several significant developments, and a few of these have been mentioned below:
- In April 2020, Sanofi gained FDA approval for a new Dupixent prefilled pen indicated for the management of asthma, atopic dermatitis, and chronic rhinosinusitis with nasal polyposis for at-home administration.
- In June 2019, Sanofi received European approval for Toujeo SoloStar Pens.
Several players drive the injection pen market by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Novo Nordisk A/S, Novartis AG (Sanofi), Eli Lilly and Company, Merck KGaA, Wilhelm Haselmeier GmbH & Co. KG, Astrazeneca, F.Hoffman-La-Roche, BD are among the prominent players operating in the market.
Target audience for the report:
- Drug developing companies
- Contract development and manufacturing organization,
- Drug discovery-related associations, organizations, forums, and alliances
- Government bodies, such as regulating authorities and policymakers
- Venture capitalists, private equity firms, and start-up companies
- Drug distributors and sales firms
- End users of drug discovery
- Research institutes, organizations, and consulting companies
Scope of the report:
In this report, the market has been segmented on the basis of:
- Product:
- Disposable
- Re-usable
- Application:
- Diabetes
- Growth hormone therapy
- Osteoporosis
- Fertility
- Other therapies
- End User:
- Hospitals
- Home care
- Region
- North America
- Europe
- Asia Pacific (APAC)
- South & Central America
- Middle East & Africa
- Companies profiled
- Novo Nordisk A/S
- F.Hoffman-La-Roche
- Astrazeneca
- Eli Lilly and Company
- Novartis AG (Sanofi)
- Pfizer Inc.
- Merck KGaA
- Wilhelm Haselmeier GmbH & Co. KG
- Biocon Ltd
- Companion Medical
- SHL Medical AG
Companies profiled
- Novo Nordisk A/S
- F.Hoffman-La-Roche
- Astrazeneca
- Eli Lilly and Company
- Novartis AG (Sanofi)
- Pfizer Inc.
- Merck KGaA
- Wilhelm Haselmeier GmbH & Co. KG
- Biocon Ltd
- Companion Medical
- SHL Medical AG