May 21, 2024

Injection Pen Market Share to Hit US$ 79.3 Bn by 2030 – Daily Tech Bulletin

According to a research report Injection Pen Market (By Product Type: Reusable and Disposable; By Therapy: Diabetes, Cancer, Osteoporosis, Autoimmune Diseases, Growth Hormone Therapy, Multiple Sclerosis, Fertility, Cardiovascular Diseases, Others; By End User: Hospitals & Diagnostic Centers and Homecare) – Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2021 – 2030″ published by Precedence Research.

The injection pen market value is projected to hit from USD 40.91 billion in 2022 to USD 79.3 billion by 2030, growing at a CAGR of 6.7% every year.

Injection Pen Market Size 2020 to 2030

The study provides an analysis of the period 2017-2030, wherein 2021 to 2030 is the forecast period and 2021 is considered as the base year.

The global injection pen market is significantly driven by several factors such as rising prevalence of various chronic diseases, technological advancements in the drug delivery devices, development of innovative drugs, and rising awareness regarding the availability of innovative drugs and drug delivery devices among the population.

The regulatory framework of the government regarding the approvals and reimbursement policies is playing a crucial role in the growth of the market. Moreover, the rising number of diabetic population and growing demand for the convenient and easy to use drug delivery solutions at homecare setting is fueling the demand for the injection pen market across the globe.

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Scope of the Injection Pen Market
Report Coverage Details
Market Size in 2021 USD 37.72 Billion
Growth Rate from 2021 to 2030 6.7%
Largest Market North America
Fastest Growing Market Asia Pacific
Base Year 2021
Forecast Period 2021 to 2030
Segments Covered Product, Therapy, End User, Region
Market Dynamics

Driver

Rapidly growing prevalence of chronic diseases

According to the International Agency for Research on Cancer, in 2020, around 19.3 million new cancer cases and 10 million cancer deaths were reported across the globe. This number is expected to rise by 47% from 2020 to 2040. According to the International Diabetes Federation, currently around 537 million people are living with diabetes and this number is expected to reach at 783 million by 2045.

Moreover, cardiovascular diseases accounts for 17.9 million of the global deaths and it is the leading cause of death across the globe. Therefore, the growing incidences of chronic diseases is expected to augment the demand for the injection pens across the globe.

Restraints

Availability of alternative drug delivery solutions

The growing number of needle stick injuries is compelling the consumers to opt for needle free drug delivery devices. Moreover, the rising preferences for the insulin pumps over insulin pens due to the growing needle stick anxiety may decrease the demand for the injection pens. This is a major factors that may hinder the growth of the global injection pen market during the forecast period.

Opportunity

Growing demand for the biosimilars

The development of various biosimilar drugs for the treatment of diseases such as diabetes, cancer, CVD, and autoimmune diseases is gaining rapid traction. The biosimilar drugs are expected to drive the growth of the injection pen market in the forthcoming years as the biosimilar drugs is expected to provide new growth aspects to the market players. Moreover, the regulatory authorities like EMA and FDA are actively participating in the clinical trials, product development, and approvals.

Challenge

Improper use may give rise to needle stick injuries

The lack of proper education and proper use of the injection pens may result in the overdose of the drugs and needle stick injuries to the patients. Moreover, there is a risk of getting affected by blood-borne diseases due to the injection pens. This poses a major threat to the injection pen market, as the aforementioned factors may result in the decline in the demand for the injection pens.

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Report Highlights
  • Based on the product type, the disposable segment dominated the market in 2020. The more safety associated with the disposable needles and prevention of blood-borne diseases is the major factors that have driven the demand for the disposable injection pens across the globe.
  • Based on the therapy, the diabetes segment dominated the injection pen market in 2020. The increased demand for the injection pens among the diabetic population for the regular maintenance of blood glucose levels has fostered the growth. The rising prevalence of diabetes is expected to further boost the growth of this segment. According to the International diabetes federation, the global diabetic population is estimated to reach at 783 million by 2045.
  • Based on the end user, the homecare segment was the leading the market in 2020. The convenience and easy-to-use feature of the injection pens has enabled the patients to self-inject drugs without any medical assistance at home. This saves the cost for the patients.
Regional Snapshot

North America dominated the global injection pen market. The increased prevalence of non-communicable diseases among the US population is a significant driver of the market. Around 60% of the US population is suffering from one or more chronic diseases. The increased healthcare expenditure and easy availability of the injection pen has fostered the demand for the injection pen across North America. Moreover, the presence of geriatric population, who are more susceptible to various chronic diseases are resulting in the bolstering demand for the injection pens.

The increased adoption rate of the technologically advanced healthcare devices in the region coupled with the active participation of the government authorities in certifying the new drugs and drug delivery devices have contributed in the market growth.

Asia Pacific is estimated to be the most opportunistic market during the forecast period. This can be attributed to the rising burden of chronic diseases among the population. According to the International Diabetes Federation, 3 in 4 diabetes affected people live in low and middle income countries.

Moreover, according to the United Nations, 80% of the global geriatric population will be living in the low and middle income countries by 2050. The rising disposable income, growing healthcare expenditure, rising awareness regarding the innovative drug delivery devices, and increasing investments in the development of advanced healthcare infrastructure are the major driving factors of the Asia Pacific injection pen market.

Some of the prominent players in the global injection pen market include:
  • Eli Lilly
  • Novo Nordisk
  • Sanofi
  • Merck
  • AstraZeneca
  • Ypsomed
  • F.Hoffman-La Roche
  • Becton Dickinson and Company
  • Novartis
  • Pfizer
  • Haselmeier
  • Owen Mumford
  • WOCKHARDT
  • Companion Medical
Segments Covered in the Report

By Product Type

  • Reusable
  • Disposable

By Therapy

  • Diabetes
  • Cancer
  • Osteoporosis
  • Autoimmune Diseases
  • Growth Hormone Therapy
  • Multiple Sclerosis
  • Fertility
  • Cardiovascular Diseases
  • Others

By End User

  • Hospitals & Diagnostic Centers
  • Homecare

By Geography

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • U.K.
    • Germany
    • France
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & Africa (MEA)
    • GCC
    • North Africa
    • South Africa
    • Rest of Middle East & Africa

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Injection Pen Market 

5.1. COVID-19 Landscape: Injection Pen Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Injection Pen Market, By Product

8.1. Injection Pen Market, by Product Type, 2021-2030

8.1.1. Reusable

8.1.1.1. Market Revenue and Forecast (2019-2030)

8.1.2. Disposable

8.1.2.1. Market Revenue and Forecast (2019-2030)

Chapter 9. Global Injection Pen Market, By End User

9.1. Injection Pen Market, by End User, 2021-2030

9.1.1. Hospitals & Diagnostic Centers

9.1.1.1. Market Revenue and Forecast (2019-2030)

9.1.2. Homecare

9.1.2.1. Market Revenue and Forecast (2019-2030)

Chapter 10. Global Injection Pen Market, By Therapy 

10.1. Injection Pen Market, by Therapy, 2021-2030

10.1.1. Diabetes

10.1.1.1. Market Revenue and Forecast (2019-2030)

10.1.2. Cancer

10.1.2.1. Market Revenue and Forecast (2019-2030)

10.1.3. Osteoporosis

10.1.3.1. Market Revenue and Forecast (2019-2030)

10.1.4. Autoimmune Diseases

10.1.4.1. Market Revenue and Forecast (2019-2030)

10.1.5. Growth Hormone Therapy

10.1.5.1. Market Revenue and Forecast (2019-2030)

10.1.6. Multiple Sclerosis

10.1.6.1. Market Revenue and Forecast (2019-2030)

10.1.7. Others

10.1.7.1. Market Revenue and Forecast (2019-2030)

Chapter 11. Global Injection Pen Market, Regional Estimates and Trend Forecast

11.1. North America

11.1.1. Market Revenue and Forecast, by Product (2019-2030)

11.1.2. Market Revenue and Forecast, by End User (2019-2030)

11.1.3. Market Revenue and Forecast, by Therapy (2019-2030)

11.1.4. U.S.

11.1.4.1. Market Revenue and Forecast, by Product (2019-2030)

11.1.4.2. Market Revenue and Forecast, by End User (2019-2030)

11.1.4.3. Market Revenue and Forecast, by Therapy (2019-2030)

11.1.5. Rest of North America

11.1.5.1. Market Revenue and Forecast, by Product (2019-2030)

11.1.5.2. Market Revenue and Forecast, by End User (2019-2030)

11.1.5.3. Market Revenue and Forecast, by Therapy (2019-2030)

11.2. Europe

11.2.1. Market Revenue and Forecast, by Product (2019-2030)

11.2.2. Market Revenue and Forecast, by End User (2019-2030)

11.2.3. Market Revenue and Forecast, by Therapy (2019-2030)

11.2.4. UK

11.2.4.1. Market Revenue and Forecast, by Product (2019-2030)

11.2.4.2. Market Revenue and Forecast, by End User (2019-2030)

11.2.4.3. Market Revenue and Forecast, by Therapy (2019-2030)

11.2.5. Germany

11.2.5.1. Market Revenue and Forecast, by Product (2019-2030)

11.2.5.2. Market Revenue and Forecast, by End User (2019-2030)

11.2.5.3. Market Revenue and Forecast, by Therapy (2019-2030)

11.2.6. France

11.2.6.1. Market Revenue and Forecast, by Product (2019-2030)

11.2.6.2. Market Revenue and Forecast, by End User (2019-2030)

11.2.6.3. Market Revenue and Forecast, by Therapy (2019-2030)

11.2.7. Rest of Europe

11.2.7.1. Market Revenue and Forecast, by Product (2019-2030)

11.2.7.2. Market Revenue and Forecast, by End User (2019-2030)

11.2.7.3. Market Revenue and Forecast, by Therapy (2019-2030)

11.3. APAC

11.3.1. Market Revenue and Forecast, by Product (2019-2030)

11.3.2. Market Revenue and Forecast, by End User (2019-2030)

11.3.3. Market Revenue and Forecast, by Therapy (2019-2030)

11.3.4. India

11.3.4.1. Market Revenue and Forecast, by Product (2019-2030)

11.3.4.2. Market Revenue and Forecast, by End User (2019-2030)

11.3.4.3. Market Revenue and Forecast, by Therapy (2019-2030)

11.3.5. China

11.3.5.1. Market Revenue and Forecast, by Product (2019-2030)

11.3.5.2. Market Revenue and Forecast, by End User (2019-2030)

11.3.5.3. Market Revenue and Forecast, by Therapy (2019-2030)

11.3.6. Japan

11.3.6.1. Market Revenue and Forecast, by Product (2019-2030)

11.3.6.2. Market Revenue and Forecast, by End User (2019-2030)

11.3.6.3. Market Revenue and Forecast, by Therapy (2019-2030)

11.3.7. Rest of APAC

11.3.7.1. Market Revenue and Forecast, by Product (2019-2030)

11.3.7.2. Market Revenue and Forecast, by End User (2019-2030)

11.3.7.3. Market Revenue and Forecast, by Therapy (2019-2030)

11.4. MEA

11.4.1. Market Revenue and Forecast, by Product (2019-2030)

11.4.2. Market Revenue and Forecast, by End User (2019-2030)

11.4.3. Market Revenue and Forecast, by Therapy (2019-2030)

11.4.4. GCC

11.4.4.1. Market Revenue and Forecast, by Product (2019-2030)

11.4.4.2. Market Revenue and Forecast, by End User (2019-2030)

11.4.4.3. Market Revenue and Forecast, by Therapy (2019-2030)

11.4.5. North Africa

11.4.5.1. Market Revenue and Forecast, by Product (2019-2030)

11.4.5.2. Market Revenue and Forecast, by End User (2019-2030)

11.4.5.3. Market Revenue and Forecast, by Therapy (2019-2030)

11.4.6. South Africa

11.4.6.1. Market Revenue and Forecast, by Product (2019-2030)

11.4.6.2. Market Revenue and Forecast, by End User (2019-2030)

11.4.6.3. Market Revenue and Forecast, by Therapy (2019-2030)

11.4.7. Rest of MEA

11.4.7.1. Market Revenue and Forecast, by Product (2019-2030)

11.4.7.2. Market Revenue and Forecast, by End User (2019-2030)

11.4.7.3. Market Revenue and Forecast, by Therapy (2019-2030)

11.5. Latin America

11.5.1. Market Revenue and Forecast, by Product (2019-2030)

11.5.2. Market Revenue and Forecast, by End User (2019-2030)

11.5.3. Market Revenue and Forecast, by Therapy (2019-2030)

11.5.4. Brazil

11.5.4.1. Market Revenue and Forecast, by Product (2019-2030)

11.5.4.2. Market Revenue and Forecast, by End User (2019-2030)

11.5.4.3. Market Revenue and Forecast, by Therapy (2019-2030)

11.5.5. Rest of LATAM

11.5.5.1. Market Revenue and Forecast, by Product (2019-2030)

11.5.5.2. Market Revenue and Forecast, by End User (2019-2030)

11.5.5.3. Market Revenue and Forecast, by Therapy (2019-2030)

Chapter 12. Company Profiles

12.1. Eli Lilly

12.1.1. Company Overview

12.1.2. Product Offerings

12.1.3. Financial Performance

12.1.4. Recent Initiatives

12.2. Novo Nordisk

12.2.1. Company Overview

12.2.2. Product Offerings

12.2.3. Financial Performance

12.2.4. Recent Initiatives

12.3. Sanofi

12.3.1. Company Overview

12.3.2. Product Offerings

12.3.3. Financial Performance

12.3.4. Recent Initiatives

12.4. Merck

12.4.1. Company Overview

12.4.2. Product Offerings

12.4.3. Financial Performance

12.4.4. Recent Initiatives

12.5. AstraZeneca

12.5.1. Company Overview

12.5.2. Product Offerings

12.5.3. Financial Performance

12.5.4. Recent Initiatives

12.6. Ypsomed

12.6.1. Company Overview

12.6.2. Product Offerings

12.6.3. Financial Performance

12.6.4. Recent Initiatives

12.7. F.Hoffman-La Roche

12.7.1. Company Overview

12.7.2. Product Offerings

12.7.3. Financial Performance

12.7.4. Recent Initiatives

12.8. Becton Dickinson and Company

12.8.1. Company Overview

12.8.2. Product Offerings

12.8.3. Financial Performance

12.8.4. Recent Initiatives

12.9. Novartis

12.9.1. Company Overview

12.9.2. Product Offerings

12.9.3. Financial Performance

12.9.4. Recent Initiatives

12.10. Pfizer

12.10.1. Company Overview

12.10.2. Product Offerings

12.10.3. Financial Performance

12.10.4. Recent Initiatives

12.11. Haselmeier

12.11.1. Company Overview

12.11.2. Product Offerings

12.11.3. Financial Performance

12.11.4. Recent Initiatives

12.12. Owen Mumford

12.12.1. Company Overview

12.12.2. Product Offerings

12.12.3. Financial Performance

12.12.4. Recent Initiatives

12.13. WOCKHARDT

12.13.1. Company Overview

12.13.2. Product Offerings

12.13.3. Financial Performance

12.13.4. Recent Initiatives

Chapter 13. Research Methodology

13.1. Primary Research

13.2. Secondary Research

13.3. Assumptions

Chapter 14. Appendix

14.1. About Us

14.2. Glossary of Terms

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

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