The global Injection Pen market size is expected to be worth around US$ 68.9 billion by 2030, according to a new report by Vision Research Reports.
The global Injection Pen market size was valued at US$ 33.05 billion in 2020 and is anticipated to grow at a CAGR of 9.8% during forecast period 2021 to 2030.
High demand for these devices for management of various chronic as well as acute diseases and increasing awareness in developing regions are key factors expected to drive the market.
Injectable pens have witnessed significant success in improving patient convenience during management of chronic disease, a process that might include administering intermittent injections. These devices are more convenient and affordable than other delivery systems. Ongoing studies on the same to assess their applications in management of other diseases, including but not limited to Hepatitis C and cancer, is expected to ensure swift market growth through 2025.
Most injectors available today are reusable. These require replacement of only needles and cartridges and they can be used for longer time, making them cost effective. Additionally, urgent need to reduce needlestick injuries and the presence of a wide distribution network of international players are driving the global market.
The traditional method of parenteral injection is fast being replaced with modern and more convenient methods such as injection pens and drug delivery pumps. Disposable devices come with a fixed dosage of the medication and thus, so do not require any installation of a cartridge. They are disposed when empty or when they are past usage date. On the other hand, reusable injectors require periodic loading of cartridge and dosage. The device requires replacement of needles and cartridges and can be used for many years. Reusable injectors are cost effective and enduring and this drives demand for the same.
The reusable injectors segment currently accounts for the largest share in the market. Novopen by Novo Nordisk A/S and Luxura by Eli Lilly and Company are a few examples of these devices. The segment is also expected to be exhibit the fastest growth over the forecast period. Commercially available reusable injectable pens mainly include Novopen, Luxura, Berlipen, AllStar, NovoRapid, basalgar, Bydureon, Epipen, and Genotropin.
Accuracy of dosage is crucial in order to ensure required results. Dosage can be of two types: fixed and variable. The latter is used extensively in chronic diseases such as diabetes, where amount of insulin changes according to blood sugar level. Variable dosage is the fastest growing segment. Rising application in conditions such as multiple sclerosis, hepatitis C, and cancer and high demand for customizable injectors are expected to catalyze demand for variable dosage devices.
These pens can be set to deliver dosage according to a patient’s individual needs and reduce the number of hospital visits. Some of the customizable variable injectors available today are UnoPen, ServoPen, and Ypsopen by Ypsomed, Madie by SHL Group, and Evo pen by Copernicus.
Injectable pens can be used for the prevention, treatment, and management of various diseases. Based on application, the injectable pens market is segmented into diabetes, anaphylaxis, osteoporosis, growth hormone deficiency, and arthritis. The diabetes segment dominated the market owing to high demand for safer insulin delivery devices. The segment is also expected to witness lucrative growth during the forecast period thanks to technological advancements in devices and therapeutics and expected approvals in the field over the coming years.
With their success in management of various chronic as well as acute diseases, injectable pens are being studied to expand their application in major diseases such as Hepatitis C, multiple sclerosis, and cancer, condition that require periodic dose injections. These studies provide a significant platform to ensure the growth of pen injectors during the forecast period.
North America captured the largest injectable pen market share, followed by Europe. Increasing incidence of diabetes and growing obese population is contributing toward market growth. Obesity is one of the major causes of diseases such as diabetes, osteoporosis, and arthritis. According to the Organization for Economic Cooperation and Development (OECD), 47.0% of the population in the U.S. is estimated to be obese by 2030. Technological advancements, the presence of a wide distribution network of international players, and increase in geriatric population, which require safer delivery devices, are other factors driving the North America market.
Asia Pacific is expected to exhibit the fastest growth rate during the forecast period. China and India account for the maximum population in the region and provide lucrative growth opportunities. Adoption of advanced technologies, increasing accessibility to healthcare, and constantly improving healthcare infrastructure in the region are some of the factors likely to boost the Asia Pacific market over the forecast period.
Owen Mumford Ltd.; Eli Lilly and Company; GlaxoSmithKline plc; Mylan N.V.; AstraZeneca; Novo Nordisk; Sandoz Inc.; Sanofi
Growth hormone deficiency
The Injection Pen market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Injection Pen market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Injection Pen market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Injection Pen market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Injection Pen market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Injection Pen capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Injection Pen by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Injection Pen market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Injection Pen market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Injection Pen market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Injection Pen industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Injection Pen market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Injection Pen market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Injection Pen market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Injection Pen market. These factors have benefited the growth of the global market for Injection Pen. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Injection Pen. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Injection Pen are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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