Dublin, Dec. 16, 2021 (GLOBE NEWSWIRE) -- The "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" report has been added to ResearchAndMarkets.com's offering.
The global injection pens market is projected to reach USD 53.3 billion by 2026 from USD 37.6 billion in 2021, at a CAGR of 7.2%
Growing prevalence of chronic diseases, increasing number of regulatory approvals, favourable reimbursement and government support, and technological advancements in injection pens tend to drive the market.
Though the market is growing, but factors like alternative drug delivery modes, poor reimbursement scenarios in developing regions and needle anxiety tend to restrain the market growth. Whereas, needle-stick injuries & misuse of injection pens tend to pose a challenge for the market. But, the opportunities for the market lie in the patent expiry of biologics and emerging markets.
Based on product, the disposable injection pen segment holds the largest share during the forecast period.
Based on type, the injection pens market is segmented into reusable and disposable injection pens. In 2020, the disposable injection pens segment accounted for the largest share of the global injection pens market. The large share of the disposable injection pens segment can be attributed to their ease of use and the presence of a built-in cartridge which eliminates the need for manually loading the cartridge, making it more convenient for patients with reduced dexterity or visual impairments.
Based on therapy, the diabetes segment holds the highest growth rate during the forecast period.
Based on therapy, the injection pens market is segmented into diabetes, growth hormone therapy, fertility, osteoporosis, autoimmune diseases, cancer, and other therapies. In 2020, the diabetes segment accounted for the largest share of the injection pens market.
The large share of this segment is attributed to the high prevalence of diabetes, increasing awareness about insulin pens among diabetic patients, the rising geriatric population, increased patient support programs by companies & government for diabetes, and the growing availability of insulin pens in the market.
Based on diabetes therapy, the in GLP-1 segment holds the highest growth rate during the forecast period.
Based on type of diabetes therapy, the injection pens market for diabetes therapy is segmented into insulin and GLP-1. In 2020, the GLP-1 segment accounted for the highest growth rate of the injection pens market for diabetes therapy. The growth in the market can be attributed to the higher efficiency of GLP-1 to reduce the blood sugar levels.
Based on end user, the home-care settings segment holds the highest growth rate during the forecast period.
Based on end users, the injection pens market is segmented into home care settings and hospitals & clinics. In 2020, the home care settings segment accounted for the highest growth of the injection pens market. The growing geriatric population, ease of drug administration, increasing prevalence of chronic diseases, technological advancements, and favorable reimbursement scenarios are some of the key factors driving the growth rate of the home care settings market.
Asia Pacific is expected to grow at the highest rate in 2020
Asia Pacific is expected to grow at the highest rate in the forecast year. The rising geriatric population, growing per capita income, increasing investments in the healthcare industry by key market players, rising demand for advanced technologies, and expansion of private-sector hospitals to rural areas in various countries in the APAC are the major factors driving the growth of the injection pen market in this region.
Competitive Landscape
The global injection pens market is dominated by Novo Nordisk A/S (Denmark), Eli Lilly and Company (US), Sanofi S.A. (France), and Novartis AG (Switzerland).
These players accounted for 70-78% of the injection pens market in 2020. These players adopted major growth strategies such as product launches, approvals, and expansions.
Other prominent players in this market include Ypsomed AG (Switzerland), Merck KGaA (Germany), AstraZeneca plc (UK), F. Hoffman-La Roche Ltd. (Switzerland), Becton, Dickinson and Company (US), Owen Mumford Ltd. (UK), and Pfizer Inc. (US).
Premium Insights
- Growing Prevalence of Chronic Diseases to Drive Market Growth
- Diabetes Segment Accounted for the Largest Share of the Asia-Pacific Injection Pens Market in 2020
- China to Register the Highest Growth Rate in the Injection Pens Market During the Forecast Period
- North America Will Continue to Dominate the Global Injection Pens Market in 2026
- Developing Markets to Register Higher Growth During the Forecast Period
Market Dynamics
Market Drivers
- Growing Prevalence of Chronic Diseases
- Increasing Number of Regulatory Approvals
- Favorable Reimbursement and Government Support
- Technological Advancements in Injection Pens
Market Restraints
- Preference for Alternative Drug Delivery Modes
- Poor Reimbursement Scenario in Developing Countries
- Needle Anxiety
Market Opportunities
- Patent Expiry of Biologics to Drive the Demand for Biosimilars
- Growth Opportunities in Emerging Markets
Market Challenges
- Needlestick Injuries and Misuse of Injection Pens
Regulatory Analysis
- North America
- US
- US Fda: Medical Device Classification
- US: Medical Device Regulatory Approval Process
- Canada
- Canada: Medical Device Regulatory Approval Process
- Canada: Class Ii Medical Device Approval Process
- Europe
- Europe: Ce Approval Process for Class Iia Medical Devices
- Asia-Pacific
- Japan
- China
- India
Patent Analysis
- Patent Publication Trends for Injection Pens
- Patent Publication Trends (January 2011-September 2021)
- Insights: Jurisdiction and Top Applicant Analysis
- Top Applicants and Owners (Companies/Institutes) for Injection Pen Patents (January 2011-September 2021)
- Top Applicant Countries/Regions for Injection Pen Patents (January 2011-September 2021)
Technology Analysis
Key Technologies
- Dose Setting and Needle Actuation
- Pen Injector Material
- Complementary Technologies
- In-Built Dose and Time Log
- Wireless Connectivity
- Smartpen Injectors
- Smart Caps and Attachments
- Injector Temperature Monitoring
- Adjacent Technologies
- Autoinjectors
- Insulin Pumps
Companies Mentioned
- Aptargroup, Inc.
- Astrazeneca
- Becton, Dickinson and Company
- Bespak Europe Ltd.
- Biocon Ltd.
- Companion Medical, Inc.
- Eli Lilly and Company
- Emperra Gmbh
- F. Hoffmann-La Roche Ltd.
- Gerresheimer Ag
- Jiangsu Delfu Medical Device Co. Ltd.
- Lupin Ltd.
- Merck Kgaa
- Nemera France Sas
- Novartis Ag
- Novo Nordisk A/S
- Owen Mumford
- Pfizer
- Sanofi
- Shaily Engineering Plastics Ltd.
- SHL Medical Ag
- Sulzer Ltd.
- Sun Pharmaceutical Industries Ltd.
- Wockhardt Ltd.
- Ypsomed Holding Ag
For more information about this report visit https://www.researchandmarkets.com/r/u2k0vb
