Injection Pen Market Size, Share, Industry, Forecast and outlook (2024-2031)

Injection Pen Market is Segmented By Type (Disposable injection pens, Reusable injection pens), By Application (Diabetes, Growth Hormone, Osteoporosis, Fertility, Other), By End-User (Home-care Settings, Hospitals & Diagnostic Clinics, Others),  and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Report Overview

Injection Pen Market size is estimated to reach at a CAGR 6.7% during the forecast period 2024-2031.

An injector pen is a device used to administer medication through the skin. Injector pens are intended to make injectable medication more accessible and convenient to use.

Market Summary

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Market Dynamics

The factors such as increasing technological advancements are projected to increase the market growth of the global injection pen market.

The increasing technological advancements are expected to increase the market growth in the forecast period

Insulin pen devices have several advantages over traditional vial-and-syringe insulin delivery methods, including higher patient satisfaction and adherence, greater ease of use, superior accuracy for delivering small insulin doses, greater social acceptability, and less reported injection pain. Pens have become more user-friendly in recent years, with some models being highly intuitive to use and requiring little or no instruction. Biopharma firms face fierce competition in the majority of key therapeutic areas. One of the major advancements is the use of an injection device. Autoinjectors and bolus pump-based systems are being evaluated to determine which device best suits patient needs, can safely and effectively deliver the drug and is most likely to contribute to compliance. For instance, Bespak company offers VapourSoft technology and the Syrina autoinjector platform. The key to VapourSoft is its power source, which aids in the resolution of issues associated with spring-based autoinjectors. As the foundation for a next-generation powerpack, a small novel container of liquefied gas was developed. The propellant provides enough energy in a pressurized vapor to power drug delivery and other functions when released.

On 13th November 2020, Medtronic launched the first integrated smart insulin pen for people with diabetes. The addition of Companion Medical's InPen to the Medtronic portfolio resulted in integrating real-time CGM data into the smart insulin pen app.

Lack of awareness and the problems associated with its usage is expected to hamper the market growth

Injection pens have various disadvantages, such as Insulin cartridges being broken or cracked, the needle not being correctly screwed onto the insulin pen.

Dose unit counters are either not moving or are moving incorrectly. When the dose button is pressed, insulin is not delivered. To prevent accidental needle sticks for the end-user, current regulations require the use of a needle safety device for prefilled syringes, and several commercial systems are available. Needle shields are typically constructed of thermoplastic elastomers. Because of its portability, this system is much more susceptible to higher temperatures and disturbances. Needle sticking and bruising are one primary concern of the injection pen.

COVID-19 Impact on Market

The demand for medical supplies has seen a surge during COVID-19. Respiratory support devices, such as an atomizer, a life-support machine, an oxygen generator, and a monitor, are commonly used in primary clinical care. Furthermore, COVID-19 has resulted in a significant increase in demand for medical supplies such as personal protective equipment such as masks, gloves, and protective eyeglasses. As the number of COVID-19 cases worldwide rises, the demand for medical supplies among healthcare professionals and the general public for precautionary measures increases. Manufacturers of these products have an opportunity to capitalize on the increased demand for medical supplies to ensure an adequate and consistent supply of personal protective equipment in the market. Given these considerations, COVID-19 is expected to have a significant impact on the injection pen market.

Market Segment Analysis

Disposable injection pen is expected to dominate the global injection pen market

Insulin pen delivery devices such as the SoloSTAR, FlexPen, and KwikPen are generally recognized as easier to use and more convenient, with improved medication adherence than standard vial-and-syringe delivery. Disposable insulin pens' usability has been studied in various patient populations, including children aged 11–15 and elderly patients aged 60.

For instance, In an open-label study of 150 types 1 or type 2 diabetes patients in the United States, researchers evaluated features of the SoloSTAR, the original FlexPen, the original Eli Lilly disposable pen, and a prototype pen. Patients consistently rated SoloSTAR as the best pen for pen features, including three out of four attributes relating to design and aesthetics, and usability. Both the SoloSTAR and FlexPen devices were found to be highly user-friendly by both pen-experienced and pen-naive patients. Usability in difficult-to-treat patients, such as the elderly, children and adolescents, and visually or dexterously impaired, has been demonstrated to be consistent with the overall patient experience.

On 27 September 2021, Novo Nordisk collaborated with digital diabetes device-maker Biocorp to improve the performance of its disposable insulin pens. The agreement with Biocorp calls for the reusable Mallya device to be distributed after a new version has been proven to work with Novo Nordisk's FlexTouch insulin pen.

Market Geographical Share

North America region accounted for the largest market share in the global injection pen market

The rising prevalence of diabetes, favorable reimbursement scenarios, and increasing awareness programs are driving the NorthAmerica region injection pens market.

In 2018 Diabetes affected 34.2 million people or 10.5 per cent of the US population. Diabetes had been diagnosed in an estimated 26.8 million people or 10.2 per cent of the population. Diabetes affects approximately 7.3 million people who have not yet been diagnosed. About 31% of the 30 million diabetics in the United States use insulin to manage their condition. Insulin comes in a variety of formulations, including fast-acting and slow-acting agents. Hence, with the increasing use of insulin in this region, it is estimated to drive market growth.

On June 19, 2020, The U.S FDA approved a 300 mg single-dose pre-filled pen for Dupixent (dupilumab) of Regeneron Pharmaceuticals, Inc. and Sanofi.

Companies and Competitive Landscape

The Global Injection Pen Market is highly competitive with increasing product launches, mergers, and company acquisitions. Some of the major key players in the market are Eli Lilly, Novo Nordisk, Sanofi, AstraZeneca, Ypsomed, F.Hoffman-La Roche, Becton Dickinson and Company, Novartis, Pfizer, Hindustan Syringes & Medical Devices.

Hindustan Syringes & Medical Devices

Overview: Hindustan Syringes & Medical Devices is a major global manufacturer of medical syringes and one of the few manufacturers of a specific type of syringe. The company was founded in 1957.

Product Portfolio: The company manufactures single-use pen needles dispovan, these insulin injection needles, introduced in 2018, have extra-thin walls and a multi-level tapered point for proper grip and skin contact.

Key Development: On May 28, 2018, Hindustan Syringes & Medical Devices (HMD) launched the Dispovan insulin pen needle to improve the comfort of diabetics.