What Does the Historical and Current Injection Pen Market Size Trend Indicate?
The injection pen market has seen considerable growth due to a variety of factors.
• In recent times, there has been a robust growth in the size of the injection pen market. Predictions are that it will rise from $57.05 billion in 2024 to $61.68 billion in 2025, with a compound annual growth rate (CAGR) of 8.1%.
Factors contributing to this growth throughout the historical phase include an increased necessity for managing diabetes, higher preference among patients, decrease in needle phobia, enhanced accuracy in dosage, and an increase in the aging population.
How Will the Injection Pen Market Size Evolve over the Forecast Period?
The injection pen market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the market size of injection pens is anticipated to experience swift expansion. It's projected to surge to $95.12 billion by 2029, with a compound annual growth rate (CAGR) of 11.4%.
Factors contributing to this predicted growth during the forecast period include increasing instances of diabetes, a surge in biologics and biosimilars, a mounting demand for personalized medicine, a growing need for home healthcare, and expanding emerging markets. Noteworthy trends anticipated during this period include the development of smart injection pens, incorporation of digital health, wearable technological devices, enhanced user interface, and compatibility with autoinjectors.
What Are The Core Factors Supporting Growth In The Injection Pen Market?
The surge in diseases like diabetes and arthritis is fueling the expansion of the injection pen market. This can be attributed to a multitude of factors including an upward trend in obesity rates, sedentary lifestyles, poor dietary habits, and an aging population, all culminating in the amplified global incidence of diabetes. As projected by the International Diabetes Federation (IDF), by 2040, approximately 640 million individuals globally are expected to have diabetes. Moreover, in emerging nations such as India, nearly 69 million individuals are diagnosed as diabetic. By 2030, this figure is projected to escalate to 100 million. Hence, the increasing occurrence of diseases like diabetes and arthritis is a significant catalyst for the growth of the injection pen market.
What Are The Major Segments Within The Global Injection Pen Market?
The injection pen market covered in this report is segmented –
1) By Product Type: Disposable Injection Pens, Reusable Injection Pens
2) By Therapy: Diabetes, Fertility, Osteoporosis, Growth Hormone Therapy, Other Therapies
3) By End Users: Home Care, Hospital And Clinics
Subsegments:
1) By Disposable Injection Pens: Pre-filled Disposable Injection Pens, Single-Use Disposable Injection Pens
2) By Reusable Injection Pens: Refillable Injection Pens, Multi-Use Injection Pens, Rechargeable Injection Pens
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Which Trends Are Expected To Transform The Injection Pen Market?
The progression of technology is a prevailing trend within the injection pen industry. The primary focus of corporations operating in this sector is developing innovative products and effective delivery mechanisms. Such technological progress allows for precise delivery, increased patient contentment and compliance, and enhanced user-friendliness. As an example, Medtronic, an American medical technology service and solution firm, unveiled an integrated solution called InPen linked with real-time1 Guardian Connect CGM data, in September 2022. This unified approach provides all the indispensable information required for users to control their diabetes - from real-time glucose levels to insulin dosage data, accessible on a single screen. It simplifies the process by negating the need to switch between different apps, making it easier for users to determine the quantity of medication needed to regulate their blood glucose levels.
Who Are the Key Players in the Injection Pen Market?
Major companies operating in the injection pen market include:
• Novo Nordisk A/S
• Ypsomed Holding AG
• Sandoz Inc.
• Eli Lilly and Company
• Merck KGaA
• AstraZeneca plc
• F. Hoffmann-La Roche Ltd.
• Owen Mumford Ltd.
• Sulzer Ltd.
• Sun Pharmaceutical Industries Ltd.
• Pfizer Inc.
• Lupin Ltd.
• Wockhardt Ltd.
• AptarGroup Inc.
• Novartis AG
• Gerresheimer AG
• SHL Medical AG
• Boehringer Ingelheim International GmbH
• Nemera France SA
• Companion Medical Inc.
• Jiangsu Delfu Medical Devices Co. Ltd.
• Haselmeier GmbH
• GlaxoSmithKline plc.
• Stat Medical Devices Inc.
• DuPont de Nemours Inc.
• Emperra GmbH E-Health Technologies
• Biocon Limited
• Becton Dickinson and Company
• Mylan N.V.
• Terumo Corporation
• West Pharmaceutical Services Inc.
• Bespak Europe Ltd.
• Mitsubishi Gas Chemical Company Inc.
• Nipro Corporation
• Zogenix Inc.
• Consort Medical plc
What Is The Most Dominant Region In The Injection Pen Market?
North America was the largest region in the injection pen market in 2024. The regions covered in the injection pen market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
