Injection Pen Market: Global Overview and Forecast (2022-2029)

Injection Pen Market size was valued at US$ 37.67 Bn. in 2021 and the total Injection Pen revenue is expected to grow at 7.21% through 2022 to 2029, reaching nearly US$ 65.74 Bn.
Injection Pen Market Overview:
Pen injectors with various dosages, preloaded syringes, and intramuscular injections are the most prevalent injector solutions on the market. Pen injectors generally employ a cartridge mechanism in conjunction with a multi-purpose formulation. The necessity for high dosages of monoclonal antibodies typically prohibits such a method, and a bolus autoinjector is generally the instrument of choice. The principal container can still be a cartridge, but a preloaded syringe is a preferable alternative since if the apparatus cannot be available at the time of market launch, a preloaded syringe can still be utilized as merchandise. To avoid inadvertent needle sticks for the end-user, existing regulations demand the use of a needle safety measure for preloaded syringes, and many commercial solutions are available.
In this report, the Injection Pen market's growth reasons, as well as the market's many segments (Product Type, Treatment, End-Use, and Region), are discussed. Data has been given by market players, regions, and specific requirements. This market report includes a comprehensive overview of all the significant improvements that are presently prevailing in all market segments. Key data analysis is presented in the form of statistics, infographics, and presentations. The study discusses the Injection Pen market's Drivers, Restraints, Opportunities, and Challenges. The report helps to assess the market growth drivers and determines how to use these drivers as a tool. The report also helps to rectify and resolve issues related to the global Injection Pen market situation.To know about the Research Methodology :- Request Free Sample Report
Injection Pen Market Dynamics:
The frequency of chronic illnesses has risen dramatically in recent years. Endocrinology, osteoarthritis, coronary heart disease, and multiple sclerosis all necessitate the use of injectable medications on a daily or weekly basis. Because chronic conditions require frequent medicine delivery, injector pens are an excellent choice. For injectable medicine delivery devices, injection syringes became the new norm. Their popularity has risen as a result of their ease of use, dependability, and capability to be delivered straight by the client without the assistance of a physician. As a result of the increasing frequency of chronic illnesses, there has been a greater emphasis on injectable pen technologies in order to efficiently manage the rising patient demographic and promote treatment adherence with medicines.

There have been several notable technological breakthroughs in the injection pen business in recent years. These advances are expected to encourage customers to use injection pens. On the other hand, several alternative medication delivery techniques are limiting the commercial acceptance of these injectable pens. Furthermore, needle phobia and weak compensation policies in developing nations throughout the world are limiting market growth potential. Overuse of injection pens and needle-stick injuries, on the other hand, are anticipated to provide hurdles to market growth. Because of the patent expiration of biopharmaceuticals and the rise of new markets throughout the world, there has been a noteworthy increase in the injectable pen market's growth potential. As a result of these unique projects and initiatives, the injection pen market is expected to have significant growth prospects in the forecast period.
Injection Pen Market Segment Analysis:
By Product Type, the reusable injector pen segment is expected to grow at a CAGR of 3.2% in the previously mentioned forecast period. Issues in insulin distribution can happen at any point of the process, including the prescription, distribution, and delivery stages. Mismatching the insulin pen and piston is not prevalent, and it is a possible danger for diabetics owing to the catastrophic repercussions of inappropriate insulin dosage. Because of the resemblance in color and brand names of insulin pods from various manufacturers, insulin pumps and cartridges may get mixed up. These unfulfilled demands have resulted in the continued hunt for insulin pens that can solve these problems and give more effective and safer options for diabetic patients.

The most significant benefits of reusable pens are endurance, which helps to remove the obstacle of enormous storage capacity necessary for throwaway insulin pens, and versatility in carrying a four to a five-day supply. In the meantime, reusable insulin pens are much more precise in meeting international standards for dose precision and are furnished with extra functionality such as audible, graphic, and tactual input during dose administration to endorse easy control and may decrease the possibility of human errors throughout managing.

Furthermore, when compared to earlier pens that could not be dialed backward due to unidirectional dial constraints, the modern reusable injection pens offer the essential advantage of correcting a chosen dose without losing insulin. The processes to recalibrate the pen while changing cartridges in previous reusable pens were extremely tough, as the piston rod needed to be fixed to its starting place. However, advancements in modern reusable pens allow users to simply insert the piston rod again into the pen rather than turning it.
Injection Pen Market Regional Insights:
Injection pen devices have various options. The most common reasons for not using injectable pens are needle stick fear and injury. As a result, there are a variety of needle-free devices available, each with an extra benefit: they do not cause needle phobia, which is a substantial impediment to the increased use of injectable medicine therapies. The discomfort associated with regular injections and the necessity of long-term treatment is major causes of non-complacence in both adults and children.

Furthermore, insulin pen treatment has been linked to hypoglycemia in certain individuals due to the inability to control the dosage. As a result, there has been a change in the treatment of type 2 diabetes in Europe from prefilled syringes to insulin pumps, owing to their capacity to execute automatic insulin ejection and reduce the danger of hypoglycemia. Orally administered delivery is favored in developing regions e.g. India, China, and Brazil because it is simple to use, practical, cost-effective, secure, and adequate.The objective of the report is to present a comprehensive analysis of the Injection Pen market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Injection Pen market dynamics, structure by analyzing the market segments and projecting the Injection Pen market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Injection Pen market make the report investor’s guide.
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Global Injection Pen Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 37.67 Bn.


Forecast Period 2022 to 2029 CAGR:
7.21%
Market Size in 2029:
US $ 65.74 Bn.


 Segments Covered:
by Product Type
• Disposable Injection Pens
• Reusable Injection Pens


by Treatment
• Diabetes
• Growth Hormone
• Osteoporosis
• Fertility
• Auto-immune Diseases
• Cancer
• Other


by End-Use
• Home-care Settings
• Hospitals & Diagnostic Clinics



Injection Pen Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Injection Pen Market Key Players are:
• Novo Nordisk
• Eli Lilly
• Sanofi
• Merck
• Ypsomed
• AstraZeneca
• F. Hoffman-La Roche
• Becton Dickinson and Company
• Owen Mumford
• Novartis
• Pfizer
• Haselmeier
• WOCKHARDT
• DuPont
• Companion Medical
• Montméd
• STAT Medical Devices
• DIAMESCO Co.Ltd.
• Emperra GmbH E-Health Technologies

FAQs:

1. Which is the potential market for the Injection Pen in terms of the region?
Ans. There has been a change in the treatment of type 2 diabetes in Europe from prefilled syringes to insulin pumps, owing to their capacity to execute automatic insulin ejection

2. What are the opportunities for new market entrants?
Ans. There have been several notable technological breakthroughs in the injection pen business in recent years. These advances are expected to encourage customers to use injection pens.

3. What is expected to drive the growth of the Injection Pen market in the forecast period?
Ans. The frequency of chronic illnesses has risen dramatically in recent years.

4. What is the projected market size & growth rate of the Injection Pen Market?
Ans. Injection Pen Market size was valued at US$ 37.67 Bn. in 2021 and the total Injection Pen revenue is expected to grow at 7.21% through 2022 to 2029, reaching nearly US$ 65.74 Bn.

5. What segments are covered in the Injection Pen Market report?
Ans. The segments covered are Product Type, Treatment, End-Use, and Region.