Injection Pen Market Size, Share & Trends by Type (Disposable and Reusable Pens), Therapy (Diabetes Therapy (Insulin, GLP-1), Growth Hormone Therapy, Osteoporosis, obesity, fertility), End User (Homecare and Hospitals & Clinics), and Region - Global Forecast to 2030
Injection Pen Market Size, Share & Trends
The injection pen market is expected to generate a revenue of USD 74.1 billion by 2030, with a revenue of USD 47.0 billion in 2024 to register a CAGR of 7.9%. The surging cases of chronic diseases globally, the launch and approval of new, advanced products, the growing trend towards smart devices, and favorable developments in government policies to promote low-cost injections will stimulate market growth. Much of the demand for injection pens is due to population aging, which has resulted in a greater patient pool for diabetes, obesity, and hormone disorders. Patients have also begun to prefer home-based care, while supportive reimbursement policies and infrastructural development have increased access to injection pens. Thus, the market is projected to see sustained growth in the coming years.
Injection Pen Market Trends
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Injection Pen Market Dynamics
Driver: Surge in chronic disease prevalence
The rising cases of chronic conditions are predicted to stimulate the market for injection pens worldwide. Chronic diseases are becoming widely prevalent given an aging patient pool, as confirmed by the increasing cases of obesity and diabetes. The National Diabetes Statistics Report 2022 states that the number of diabetes patients in the US is about 37.3 million persons, or 11.3% of the total population (Source: CDC, 2022). Furthermore, a Novo Nordisk annual report estimated that, by 2030, over 310 million children and adults around the world will be overweight. These factors will bolster the demand for advanced drug delivery systems, including injection pens.
Restraint: Stringent regulatory requirements
The US Food and Drug Administration and other regulatory bodies have specific provisions for pen injector design. Companies are required to follow these prescribed standards. Rigorous testing is necessary to demonstrate that the delivered dose matches the required dosage and that multidose injection pens reliably administer the prescribed requirements. It is also vital to run biocompatibility testing on all injector components and the formulation being injected. These challenging requirements can hinder the introduction of new products in the injection pens market.
Opportunity: Rising focus on patient-centric design and connected devices
To improve treatment outcomes and the user experience, connected injection pens need to be developed with consideration for patient-centric design concepts. Features like finer needles and easier injections have been emphasized as companies seek to resolve patient concerns like pain and needle phobia. This aspect of the injection pen market has seen rising interest. For example, Medtronic (Ireland) offers a reusable, Bluetooth-enabled pen, the InPen, which comes with intelligent dosage capabilities for patients on multiple daily injection (MDI) therapy. It can be used in conjunction with a mobile app and is compatible with insulin cartridges from Eli Lilly Humalog, Novo Nordisk Novolog, and Novo Nordisk Fiasp.
Challenge: Lack of training and education
Inadequate education and training on using newer delivery devices, including injection pens, leads to errors and affects the safety of both the staff and patients. The Journal of Diabetes Science and Technology estimates that injection pens are involved in 39% of needlestick injuries (NSIs). Nursing workers were the most affected, with 40.4% reported to experience NSIs. Healthcare workers in the Asia Pacific (APAC) are frequently affected by NSIs resulting from insulin injections.
Injection Pen Market Ecosystem
Disposable injection pens held the largest market share in the global injection pen industry in 2023.
Based on type, the disposable injection pens segment held the largest share of the injection pen market. Patients are using disposable injection pens to a greater extent due to their convenience, low risk of needle stick infections, and built-in cartridge that prevents the need for manual loading. This feature is especially beneficial for patients with vision impairments or limited ability. Their advantages have bolstered the adoption of disposable injection pens.
Home care settings will grow at a significant rate from 2024 to 2030 in the end-user market in the injection pen industry.
Based on the end user, the injection pen market has been classified into hospitals & clinics and home care settings. The market for injection pens was dominated in 2023 by the home care settings segment. As chronic diseases become more prevalent and the population ages, the increased ease of medication administration, advancements in technology, and favorable reimbursement structures are the main factors contributing to the rapid growth of home care settings in the injection pen market.
North America accounted for the largest share of the injection pen industry in 2023.
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During the forecast period, North America is anticipated to be the largest region in the injection pen market. The injection pen market in North America is projected to increase due to a number of factors, including the availability of favorable reimbursement options, rising public awareness of new injection pen technologies, supportive government initiatives, rising affordability and per capita healthcare expenditure, and the presence of numerous international pharmaceutical giants, including Pfizer (US) and Becton Dickinson and Company (US).
As of 2023, leading market players in the global injection pen market include Novo Nordisk A/S (Denmark), Eli Lilly and Company (US), Sanofi (France), Ypsomed Holding AG (Switzerland) and Becton, Dickinson and Company (US), Merck KGaA (Germany), Astrazeneca (UK), Owen Mumford (UK), Heselmeier (Germany), Sun Pharmaceutical Industries Ltd. (India), Pfizer Inc. (US), Biocon (India), Lupin (India), Wockhardt Ltd. (India) and Medtronic (Ireland) are other prominent players in the market.
Scope of the Injection Pen Industry:
|
Report Metric |
Details |
|
Market Revenue in 2024 |
$47.0 billion |
|
Projected Revenue by 2030 |
$74.1 billion |
|
Revenue Rate |
Poised to Grow at a CAGR of 7.9% |
|
Market Driver |
Surge in chronic disease prevalence |
|
Market Opportunity |
Rising focus on patient-centric design and connected devices |
This research report categorizes the injection pen market to forecast revenue and analyze trends in each of the following submarkets
By Product Type
- Disposable Injection Pen
- Reusable Injection Pen
By Therapy
-
Diabetes
- Insulin therapy
- GLP-1 therapy
- Growth Hormone
- Osteoporosis
- Fertility
- Obesity
- Other Therapies
By End User
- Home-care Settings
- Hospitals & Clinics
By Region
-
North America
- US
- Canada
-
Europe
- Germany
- UK
- France
- Italy
- Spain
- RoEU
-
Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- RoAPAC
-
Latin America
- Brazil
- Mexico
- Rest of Latin America
-
Middle East and Africa
- GCC Countries
- Rest of the Middle East & Africa
Recent Developments of Injection Pen Industry
- In June 2024, Novo Nordisk A/S (Denmark) launched smart insulin pens in the UK: NovoPen 6 and NovoPen Echo. These pens can track and record dosing information for diabetic patients.
- In April 2024, Eli Lilly and Company (US) acquired a manufacturing facility from Nexus Pharmaceuticals, LLC, to expand the global parenteral (injectable) product manufacturing network and support the increased demand.
- In April 2023, Ypsomed Holding AG (Switzerland)) opened a production facility in the Changzhou National Hi-tech District to cater to the rapidly growing Chinese market for injection systems. In the first phase, the company invested over USD 38.9 million (CHF 35 million) in the new manufacturing plant.
Frequently Asked Questions (FAQ):
What are the drivers for the injection pen market?
The growing prevalence of chronic diseases such as diabetes, a favorable reimbursement scenario, and the focus on developing technologically advanced injection pen products are likely to propel the market growth during the forecast period.
Which therapy segment in the injection pen market provides the most opportunity for growth?
The diabetes segment will show the most opportunity for growth due to the rising prevalence of diabetes, the increasing aged patient pool, government initiatives, and patient awareness, which indicate strong opportunities in this segment, aiding the demand for insulin and GLP-1 injection pens. .
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This study involved the extensive use of both primary and secondary sources. The research process involved the study of various factors affecting the industry to identify the segmentation types, industry trends, key players, competitive landscape, fundamental market dynamics, and key player strategies.
Secondary Research
The secondary research process involves the widespread use of secondary sources, directories, databases (such as Bloomberg Businessweek, Factiva, and D&B Hoovers), white papers, annual reports, company house documents, investor presentations, SEC filings of companies and publications from government sources [such as National Institutes of Health (NIH), US FDA, US Census Bureau, World Health Organization (WHO), Centers for Disease Control and Prevention (CDC), European Federation of Pharmaceutical Industries and Associations (EFPIA), American Journal of Drug Delivery and Therapeutics, International Diabetes Federation (IDF), American Association of Diabetes Educators (AADE, Asian Association for the Study of Diabetes (AASD) and Parenteral Drug Association (PDA) were referred to identify and collect information for the global injection pen market study. It was also used to obtain important information about the key players and market classification & segmentation according to industry trends to the bottom-most level and key developments related to market and technology perspectives. A database of the key industry leaders was also prepared using secondary research.
Primary Research
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include industry experts such as CEOs, vice presidents, marketing and sales directors, technology & innovation directors, and related key executives from various key companies and organizations in the injection pen market. The primary sources from the demand side include hospitals & clinics and home care settings. Primary research was conducted to validate the market segmentation, identify key players in the market, and gather insights on key industry trends & key market dynamics.
A breakdown of the primary respondents is provided below:
*C-level primaries include CEOs, CFOs, COOs, and VPs.
*Others include sales managers, marketing managers, business development managers, product managers, distributors, and suppliers.
Note: Companies are classified into tiers based on their total revenue. As of 2022, Tier 1 = >USD 10.00 billion, Tier 2 = USD 1.00 billion to USD 10.00 billion, and Tier 3 = <USD 1.00 billion.
Source: MarketsandMarkets Analysis
To know about the assumptions considered for the study, download the pdf brochure
Market Estimation Methodology
For the global market value, annual revenues were calculated based on the revenue mapping of major product manufacturers and OEMs active in the global injection pen market. All the major product manufacturers were identified at the global and/or country/regional level. Revenue mapping for the respective business segments/sub-segments was done for the major players (who contribute at least 70-75% of the market share at the global level). Also, the global injection pen market was split into various segments and sub-segments based on:
- List of major players operating in the injection pen products market at the regional and/or country level
- Product mapping of various injection pen manufacturers at the regional and/or country level
- Mapping of annual revenue generated by listed major players from injection pen(or the nearest reported business unit/product category)
- Revenue mapping of major players to cover at least 70-75% of the global market share as of 2023
- Extrapolation of the revenue mapping of the listed major players to derive the global market value of the respective segments/subsegments
- Summation of the market value of all segments/subsegments to arrive at the global point-of-care diagnostics market
Illustrative example of Novo Nordisk A/S: Revenue Share Analysis, 2023
To know about the assumptions considered for the study, Request for Free Sample Report
The above-mentioned data was consolidated and added with detailed inputs and analysis from MarketsandMarkets and presented in this report.
Data Triangulation
After arriving at the overall size of the global Injection pen market through the above-mentioned methodology, this market was split into several segments and subsegments. The data triangulation and market breakdown procedures were employed, wherever applicable, to complete the overall market engineering process and arrive at the exact market value data for the key segments and subsegments. The extrapolated market data was triangulated by studying various macro indicators and regional trends from both demand- and supply-side participants.
Market Definition
Injection pens are used by patients or self-administering drugs for the treatment of various diseases such as diabetes, osteoporosis, growth hormone deficiency, obesity, fertility and among others. These medical devices are easy to handle and cost-effective for patients.
Stakeholders
- Injection Pen Manufacturing Companies
- Pharmaceutical Companies (Drug Manufacturers)
- Original Equipment Manufacturing Companies
- Suppliers and Distributors of Injection Pens
- Healthcare Service Providers
- Teaching Hospitals and Academic Medical Centers
- Health Insurance Players
- Government Bodies/Municipal Corporations
- Regulatory Bodies
- Medical Research Institutes
- Business Research and Consulting Service Providers
- Venture Capitalists
- Market Research and Consulting Firms
Report Objectives
- To define, measure, and describe the global injection pen market by type, therapy, end user, and region
- To provide detailed information about the major factors influencing the market growth (drivers, restraints, challenges, and opportunities)
- To strategically analyze the regulatory scenario, pricing, value chain analysis, supply chain analysis, ecosystem analysis, technology analysis, Porter’s Five Forces analysis, and patent analysis
- To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
- To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
- To forecast the size of market segments in North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
- To strategically analyze the market structure, profile the key players in the global injection pen market, and comprehensively analyze their core competencies
- To track and analyze company developments such as acquisitions, partnerships, expansions, and product launches and approvals in the injection pen market
- To track and analyze competitive developments such as mergers and acquisitions, new product developments, partnerships, agreements, collaborations, and expansions in the global injection pen market
Available Customizations
With the given market data, MarketsandMarkets offers customizations as per your company’s specific needs. The following customization options are available for the report:
Geographic Analysis
- Further breakdown of the Rest of Europe injection pen market into Russia, Switzerland, Denmark, Austria, and others
- Further breakdown of the Rest of Asia Pacific injection pen market into South Korea, Taiwan, and others
- Further breakdown of the Rest of Latin America injection pen market into Argentina, Colombia, Chile, Ecuador, and others
- Further breakdown of the Southeast Asia injection pen market into Malaysia, Singapore, Australia, New Zealand, and others
Competitive Landscape Assessment
- Market share analysis, by region (North America and Europe), which provides market shares of the top 3-5 key players in the injection pen market
- Competitive leadership mapping for established players in the US
Generating Response ...
Growth opportunities and latent adjacency in Injection Pen Market
who are the prominent players in diabetes injection pens market. pls share list
Need tailor made research report on injection pen market with informative data and various critical aspects such as market outlook, market share, growth, and trends.
advancements in injection pen market. how is it going to sustain. details pls