1. HOME
2. Research Insight
3. Novo Nordisk A/S (Denmark), Sanofi (France), Eli Lilly and Company (US), Novartis AG (US), and Merck KGaA (Germany) are the leading players in the Injection Pens Market

The global injection pens market is projected to reach USD 53.3 billion by 2026 from USD 37.6 billion in 2021, growing at a CAGR of 7.2% during the forecast period. Globally, there is a growing demand for injection pens owing to the growing prevalence of chronic diseases, increasing number of regulatory approvals, technological advancements in injection pens and favorable reimbursement and government support. However, injection pens have certain challenges pertaining to misuse and needle-stick injuries. This, coupled with the preference for alternative drug delivery modes, poor reimbursement scenario in developing countries, and needle anxiety are the major factors restraining the growth of the injection pens market. However, the patent expiry of biologics which will increase the demand for biosimilars and the growth opportunities in the emerging markets are expected to offer growth opportunities for players in the injection pens market during the forecast period.

Novo Nordisk accounted for the largest share in the injection pens market in 2020. The company’s Diabetes Care segment, which offers injection pens, is its largest and fastest-growing business. As a significant volume of Novo Nordisk’s insulins are used in injectable devices, the company is witnessing a surge in the sale of its insulin pens and supplies, including pen needles. The company has distribution and production facilities in more than 75 countries and markets its products in more than 180 countries. The company has its facilities in five countries across four continents. To build a sustainable market position, the company offers a dedicated program named “Defeat Diabetes,” with new long-term ambitions for improving public health.

To know about the assumptions considered for the study download the pdf brochure

Sanofi held the second position in the global injection pens market. The company offers Allstar, ClikStar, SoloStar, JuniorStar, Lyxumia pens, Toujeo SoloStar pen and Toujeo Max SoloStar injection pens. To maintain its position, the company focuses on geographical expansions and product launches. In the past three years, Sanofi received approvals for two pen injections, Dupixent and Toujeo SoloStar Pens, in the US and Europe in 2018 and 2019, respectively. The company also launched a new product, AllStar, in the Indian market. The company’s R&D expenditure in 2020, 2019, and 2018 was estimated at USD 6.31 billion, USD 6.02 billion, and USD 5.89 billion, respectively. Rising R&D expenditure indicates the company’s focus on launching innovative products. Sanofi markets its products through independent distribution channels and directly to end users through independent sales representatives. The products of Sanofi are premium priced and face challenges in the developing markets. Hence, the company came up with the strategy of lowering the price of the product AllStar by manufacturing it in India at lower manufacturing costs. Sanofi is focusing on enhancing its presence in developing markets to maintain its competitive position.

Eli Lilly and Company held the third position in the global injection pens market in 2020. Before 2019, Eli Lilly and Company operated through two segments—Human Pharmaceutical Products and Animal Health Products segments. The disposition of the Animal Health Products segment named Elanco was completed in 2019. Eli Lilly and Company now operates through a single segment—Human Pharmaceutical Products. The Human Pharmaceutical Products segment manufactures, develops, and sells medicines and drug delivery products. The company is a provider of customized injection systems for biotechnology and pharmaceutical companies focused on diabetes, growth disturbances, infertility, and other therapeutic areas. The company focuses on launching new products to meet the customer needs for an easier injection experience. The company was the first to launch a digital insulin pen named HumaPen. The company operates in 14 countries and markets its products in 125 countries. It focuses on enhancing its presence in emerging markets to increase its sales.

Related Reports:

Injection Pen Market by Product Type (Disposable, Reusable Pens), Therapy (Diabetes (Insulin, GLP-1), Growth Hormone, Osteoporosis, Fertility, Autoimmune disease, Cancer), End User (Hospitals, Clinics, Home Care), and Region - Global Forecast to 2026

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]