Injection Pens Market - Forecasts from 2019 to 2024

The injection pens market is estimated to witness a CAGR of 7.62% to reach US$37.512 billion in 2024 from US$24.148 billion in 2018. Injection pens are infusion devices used to inject medications and offer easier administration of medication and are more accurate, and in a convenient way than the traditional vial and syringe method. They are portable and deliver accurate doses of insulin thus avoiding any wastage of the medication during the use. Injection pen is frequently used for self-administration of preserved multi-dose drug formulations requiring weight-based dosing. The increasing investments by companies for technological innovations for improving convenience and ease of administration of parenteral therapeutics is expected to drive the injection pens market. Furthermore, the rising prevalence of the chronic diseases such as diabetes, multiple sclerosis (MS), hemophilia and hemolytic diseases throughout the globe is also anticipated to boost the adoption of the injection pens, thus fueling the growth of the global injection pen market. However, low awareness regarding the injection pens and the presence of alternate modes of drug delivery might restrain the growth of the market during the given time frame.

The Injection pens market has been segmented on the basis of type, application, end user and geography. In the type segment, disposable injection pens are estimated to hold a significant market share owing to the low risk of infection when compared with reusable injection pens. In the application segment, diabetes is expected to drive the market growth owing to the increasing diabetic population across the globe. Geographically, North America is projected to be a dominant region on account of the rising number of diabetes cases coupled with the rising awareness in the region.

Drivers

Growing healthcare industry.

Rising number of chronic disease cases.

Restraints

Presence of alternative drug delivery systems.

Industry Update

In May 2018, Haselmeier, a Swiss-based developer and manufacturer of innovative self-injection devices, and Common Sensing, a Cambridge-based smart injector monitoring and support solutions company, today announced a partnership agreement to develop smart connected monitoring and support solutions for users of injectable medicines.

The major players profiled in the Injection Pens market include Novo Nordisk, Merck KGaA, Sanofi-Aventis US LLC, ELI Lilly and Company, Ypsomed AG, AstraZeneca, Owen Mumford, Pfizer, Wilhelm Haselmeier GmbH & Co. KG, Mylan Inc. and Becton, Dickinson and Company.

Segmentation

The Injection Pens market has been analyzed through the following segments:

By Type
Disposable pens
Reusable pens

By Application
Diabetes
Growth Hormone Therapy
Osteoporosis
Others

By End User
Hospitals and Clinics
Ambulatory Care
Home Care

By Geography
North America
USA
Canada
Mexico

South America
Brazil
Argentina
Others

Europe
Germany
France
United Kingdom
Spain
Others

Middle East and Africa
Saudi Arabia
Israel
Others

Asia Pacific
China
Japan
South Korea
India
Others