Injection Pen Market (By Product Type: Reusable and Disposable; By Therapy: Diabetes, Cancer, Osteoporosis, Autoimmune Diseases, Growth Hormone Therapy, Multiple Sclerosis, Fertility, Cardiovascular Diseases, Others; By End User: Hospitals & Diagnostic Centers and Homecare)- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2022-2030

The global Injection Pen market size was estimated at USD 37.72 billion in 2021 and is expected to surpass around USD 79.3 billion by 2030 and poised to grow at a compound annual growth rate (CAGR) of 6.7% during the forecast period 2022 to 2030.

Injection Pen Market: Overview

• Rapid adoption of the injection pen in-home care services is another factor that is anticipated to augment the global injection pen market during the forecast period. Insulin is widely administered through an injection pen to treat patients suffering from diabetes. This is likely to boost the injection pen market during the forecast period.
• Injection pen is a device that is extensively employed to deliver medicine, making the administration more convenient and easier. Injection pen is preferred over vial and syringe, as it enables the delivery of the medicine in shorter interval of time. Widely preferred injection pens are insulin pens, owing to the rising prevalence of diabetic patients across globe. Insulin pen is an easier and convenient option for diabetic patients. Furthermore, its easily adjustable dose propels its demand among patients globally.
• Disposable and reusable are two types of injection pens used for administration of medicines in order to meet the needs of the growing patient burden. Disposable pens contain prefilled insulin cartridge, which is disposed after usage. Reusable pens contain an insulin cartridge, which can be replaced once the dose has been administered.

Report Scope of the Injection Pen Market

Injection Pens Market Dynamics

Driver: Growing prevalence of chronic diseases

The prevalence of chronic diseases has increased significantly in the last few years. Diseases such as diabetes, osteoporosis, cardiovascular disease (CVD), and multiple sclerosis require daily or weekly injectable drug administration. Injector pens are an optimum option for chronic diseases as the frequency of drug administration is high. Injection pens have become the new standard for injectable drug delivery systems. Their popularity has soared due to their simplicity, reliability, and ability to be administered directly by the patient without the aid of a physician. Thus, the growing prevalence of chronic diseases has led to a greater focus on injection pen technologies to effectively handle the growing patient pool and increase patient compliance with therapies. Mentioned below are some key statistics pertaining to the prevalence of chronic diseases.

Restraint: Preference for alternative drug delivery modes

There are many alternatives to injection pen devices. The main restraining factors for injection pens are needle stick anxiety and injury. Hence, there are various needle-free devices that come with an added advantage—they do not induce needle anxiety, which is a significant deterrent to the greater adoption of injectable drug treatments. Non-complacence among children as well as adults is mostly attributed to the pain associated with daily injections and the requirements of long-term therapy. Additionally, insulin pen therapy is seen to cause hyperglycemia in some patients, as the dose cannot be regulated. Hence, in Europe, there has been a shift in diabetes treatment, from insulin pens to insulin pumps, due to their ability to perform automated insulin suspension and decrease the risk of hypoglycemia. In developing countries such as India, China, and Brazil, oral insulin delivery is preferred as it is easy to use, convenient, cost-effective, safe, and acceptable.

Opportunity: Patent expiry of biologics to drive the demand for biosimilars

Biosimilars were introduced in 2006 by many pharmaceutical companies such as Sandoz (Germany), Teva Pharmaceutical Industries Ltd. (Israel), and JCR Pharmaceuticals Co., Ltd. (Japan). Due to their lower costs (as compared to their patented counterparts), the demand for biosimilars has increased significantly. The impending patent expiry of many biologic molecules will also serve to drive the demand for biosimilars. 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 many 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.

Challenge: Needle-stick injuries and misuse of injection pens

The lack of proper training and education for the use of new delivery devices such as injection pens leads to improper use and may threaten the safety of the staff and patients. Such practices may affect the adoption of injection pens in a hospital setting. For example, the National Reporting and Learning System (NRLS, UK) reported about 56 incidents associated with withdrawing insulin from insulin pens or refill cartridges between January 2013 and June 2019. In addition, the strength of insulin in the injection pen varies; thus, this poses the risk of overdose if the dose strength is not taken into consideration. The reuse of insulin pens is another concern. According to the Institute for Safe Medication Practices (ISMP) (US), during 2013–2014, ~700 patients in New York may have been exposed to blood-borne pathogens due to the use of insulin pens on multiple patients. The ISMP’s National Medication Errors Reporting Program (MERP) also reported cases where patients forgot to remove the inner cover of a standard insulin pen needle, which resulted in no insulin being delivered. Also, the FDA has reported patients using standard pen needles without removing the inner needle cover. This has resulted in hyperglycemia in patients because the inner needle cover stopped them from getting insulin.

Injection Pen Market: Regional Segmentation

• In terms of region, the global injection pen market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
• North America dominated the global injection pen market in 2021. This can be ascribed to an increase in patient burden suffering from diabetes, rise in prevalence of chronic disease across globe, and adoption of injection pens in-home care settings. Moreover, presence of key players offering various injection pens used for autoimmune, growth hormone and diabetes, and infants and pediatrics patients is projected to fuel the market in the region during the forecast period.
• The market in Asia Pacific is estimated to expand at a rapid pace during the forecast period. This is due to the increase in diabetes burden, development of infrastructure, and entry of players offering innovative products in the region. Moreover, availability of cost effective injection pens and their accurate delivery of dosages are anticipated to propel the demand in Asia Pacific during the forecast period.

Recent Developments

• In April 2020, Sanofi (France) received FDA approval for a new Dupixent prefilled pen for use in asthma, atopic dermatitis, and chronic rhinosinusitis with nasal polyposis for at-home administration.
• In June 2019, Sanofi (France) received approval in Europe for Toujeo SoloStar Pens.
• Merck KGaG (Germany) launched Pergoveris a gonadotropin injection pen for fertility treatment in January 2019.

Some of the prominent players in the Injection Pen Market include:

• Eli Lilly
• Novo Nordisk
• Sanofi
• Merck
• AstraZeneca
• Ypsomed
• F.Hoffman-La Roche
• Becton Dickinson and Company
• Novartis
• Pfizer
• Haselmeier
• Owen Mumford
• WOCKHARDT
• Companion Medical

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Injection Pen market

By Product Type

• Reusable
• Disposable

By Therapy

• Diabetes
• Cancer
• Osteoporosis
• Autoimmune Diseases
• Growth Hormone Therapy
• Multiple Sclerosis
• Fertility
• Cardiovascular Diseases
• Others

By End User

• Hospitals & Diagnostic Centers
• Homecare

By Geography

North America

• U.S.
• Canada

Europe

• Germany
• France
• United Kingdom
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Rest of Latin America

Middle East & Africa (MEA)

• GCC
• North Africa
• South Africa
• Rest of Middle East & Africa

Key Benefits for Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global Injection Pen industry analysis from 2022 to 2030 to identify the prevailing Injection Pen industry opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the global Injection Pen industry segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global Injection Pen industry trends, key players, market segments, application areas, and market growth strategies.