Covina, March 29, 2023 (GLOBE NEWSWIRE) -- Injection Pen Market accounted for US$ 42.2 billion in 2022 and is estimated to be US$ 112.1 billion by 2032 and is anticipated to register a CAGR of 9.4%. Injection pen is generally used for self-administration of well-kept-up multi-dose drug formulations which required on the basis of weight. Injection pens are available in two different forms; disposable and reusable injection pens. Moreover, it is a ready-to-administer, as a prefilled medical device which helps to ease the drug for patients, healthcare providers, and caregivers. Emerging technologies and latest development in injection pens such as automatic needle insertion and injection, safety needle device, smaller dosing abilities, and electronics are some factors contributing the significant growth in the global injection pen market.
The report "Injection Pen Market, By Product Type (Reusable and Disposable), By Therapy (Diabetes, Fertility, Osteoporosis, Growth Hormone Therapy, and Other), By End-user (Homecare Settings, Hospitals, and Other) and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Trends, Analysis and Forecast till 2029’’
Key Highlights:
- Sanofi (France) gained FDA approval in April 2020 for a novel Dupixent prefilled pen for at-home administration in asthma, atopic dermatitis, and chronic rhinosinusitis with nasal polyposis.
- Toujeo SoloStar Pens were approved in Europe by Sanofi (France) in June 2019.
- In January 2019, Merck KGaG (Germany) developed Pergoveris, a gonadotropin injection pen for fertility treatment.
Analyst View:
In recent years, the prevalence of chronic diseases has risen dramatically. Diabetes, osteoporosis, cardiovascular disease (CVD), and multiple sclerosis all necessitate the administration of injectable drugs on a daily or weekly basis. Because chronic diseases require frequent medicine delivery, injector pens are the best alternative. For injectable medicine delivery devices, injection pens have become the new norm. Because of their simplicity, dependability, and ability to be administered directly by the patient without the assistance of a physician, their popularity has skyrocketed. As a result of the rising frequency of chronic diseases, more attention is being paid to injectable pen technologies in order to effectively manage the growing patient pool and improve patient adherence to therapies. Some relevant statistics about the prevalence of chronic diseases are included below.
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Key Market Insights from the report:
Global Injection Pen Market accounted for US$ 42.2 billion in 2022 and is estimated to be US$ 112.1 billion by 2032 and is anticipated to register a CAGR of 9.4%. The Global Injection Pen Market is segmented based on product type, therapy, end-user and region.
- Based on Product Type, Global Injection Pen Market is segmented into Reusable and Disposable.
- Based on Therapy, Global Injection Pen Market is segmented into Diabetes, Fertility, Osteoporosis, Growth Hormone Therapy, and Other.
- Based on End-User, Global Injection Pen Market is segmented into Homecare Settings, Hospitals, and Other.
- By Region, the Global Injection Pen Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Global Injection Pen Market:
- Owen Mumford Ltd
- Pfizer
- Novo Nordisk
- Eli Lilly
- Merck & co
- Biocorp Production SA
- AstraZeneca PLC
- Ypsomed Holding AG
- Becton
- Wilhelm Haselmeier GmbH & Co. KG
- Dickinson and Company (BD)
- F.Hoffman-La Roche Ltd
- Novartis
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
Regional scope:
- North America - U.S., Canada
- Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe
- Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific
- Latin America - Brazil, Mexico, Argentina, Rest of Latin America
- Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa
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Scope of the Report:
- Market Preview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Product Type
- Market Snippet, By Therapy
- Market Snippet, By End User
- Market Snippet, By Region
- Opportunity Map
- Report Description
- Market Dynamics
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- Drivers- Restraints Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Market Dynamics
- Global Injection Pen Market, By Product Type, 2018 – 2028, (US$ Mn)
- Introduction
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2018 — 2028
- Y-o-Y Growth Analysis (%), 2019 – 2028
- Segment Trends
- Reusable Injection Pen
- Introduction
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2018 – 2028
- Disposable Injection Pen
- Introduction
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2018 – 2028
- Introduction
- Global Injection Pen Market, Therapy, 2018 – 2028, (US$ Mn)
- Introduction
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2018 — 2028
- Y-o-Y Growth Analysis (%), 2019 – 2028
- Segment Trends
- Diabetes
- Introduction
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2018 – 2028
- Fertility
- Introduction
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2018 – 2028
- Osteoporosis
- Introduction
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2018 – 2028
- Growth Hormone Therapy
- Introduction
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2018 – 2028
- Others
- Introduction
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2018 – 2028
- Introduction
- Global Injection Pen Market, By End User, 2018 – 2028, (US$ Mn)
- Introduction
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2018 — 2028
- Y-o-Y Growth Analysis (%), 2019 – 2028
- Segment Trends
- Homecare Settings
- Introduction
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2018 – 2028
- Hospitals
- Introduction
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2018 – 2028
- Others
- Introduction
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2018 – 2028
- Introduction
Here are some key questions answered in Injection Pen Market Report:
What are the recent trends and developments in the injection pen market, and how are they shaping the industry landscape?
Recent trends and developments in the injection pen market include the introduction of digital pens, increased focus on patient-centric designs, and the rise of biosimilar drugs. These trends are shaping the industry landscape by promoting better patient outcomes, improving convenience and adherence, and increasing competition among manufacturers.
What are the regulatory requirements for injection pens, and how are they likely to impact market growth and competition?
Regulatory requirements for injection pens vary by region, but generally include safety and efficacy testing, manufacturing standards, and labeling and packaging requirements. Compliance with these regulations can be costly and time-consuming, which can impact market growth and competition by creating barriers to entry for new companies and products. However, adherence to regulations can also promote trust and confidence in the market, improve patient safety, and foster innovation through continued research and development.
What are the key drivers and challenges for the injection pen market, and how are they likely to impact the market growth?
Key drivers for the injection pen market include the growing prevalence of chronic diseases, increasing demand for self-administration of drugs, and the development of biologic and biosimilar drugs. Key challenges include pricing pressures, competition from alternative drug delivery methods, and regulatory hurdles. These drivers and challenges are likely to impact market growth by promoting innovation, improving patient outcomes, and increasing competition among manufacturers. However, they can also limit growth by creating barriers to entry, reducing profit margins, and decreasing product differentiation.
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