Injection Pen Market Research Report – Forecast to 2032

Injection Pen Market Research Report Information By Type (Disposable Injection Pens), By Product (Insulin Pens and Needles), By Therpy (Diabetes), By Distribution Channel (Hospital Pharmacies), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2032

ID: MRFR/MED/4688-HCR | 100 Pages | Author: Kinjoll Dey | March 2024         

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Global Injection Pen Market Overview:

Injection Pen Market Size was valued at USD 43.2 billion in 2021 and is projected to grow from USD 46.18 Billion in 2022 to USD 74.4 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.5% during the forecast period (2023 - 2032).The need for injectable pen technologies has increased to properly address the rising patient pool and promote treatment adherence are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Market expansion is being fueled by the increasing demand for injectable pen technologies in order to effectively serve a larger patient population and boost treatment adherence. Injectable drugs are meant to be given to patients as quickly and painlessly as possible with the help of injection pens. The gadget is lightweight and compact enough to fit in the palm of your hand, and it may be used to administer medication for a wide range of medical ailments. The rising incidence of chronic disorders like diabetes and osteoporosis is expected to boost the injection pen market throughout the predicted time frame. 

Another factor contributing to the expansion of the market is the rising popularity of injectable pens as an alternative to the more conventional vial and needle method. The incidence of chronic diseases has increased in recent decades. Diabetes, cardiovascular disease, osteoporosis, and multiple sclerosis all require injections, either daily or monthly. Chronic conditions that need regular dosing are well suited for injector pens. 

Another aspect driving the market forward is the increasing use of innovative reusable injection pens among diabetic patients. In addition, the increasing popularity of automated injection pens is a key factor in the expansion of the injection pen market. Medical professionals are increasingly using automated injection pens due to their ease of use, precision, safety, and convenience in medication delivery. Injection pens are in high demand across the world, not just in the wealthy nations where the aging population is increasingly at risk for conditions like diabetes and cancer. The expansion of the market can be attributed to these elements. 

March 2023:Patient out-of-pocket expenditures for Eli Lilly and Company's most widely prescribed insulins will be capped at $35 or less per month, according to an increase in the company's Insulin Value Program, which was announced in March 2023. These steps are being taken by Lilly to assist Americans who may have trouble obtaining inexpensive insulin due to the complexity of the current healthcare system.

Injection Pen Market Trends

  • Growing Prevalence of patients and promote treatment to boost market growth

Drugs are supposed to be administered into the body using injection pens as conveniently and painlessly as feasible. It is a small, portable device that can be held in the hand and used to give medications for the treatment of many different conditions. It is estimated that over the forecasted period, the value of the  injection pen market would increase due to the increased prevalence of chronic diseases including osteoporosis and diabetes. For instance, according to the American Diabetes Association, 9.4% of the country's population—or 30.3 million people—were diagnosed with diabetes in the United States in 2015. The greater preference for injectable pens over the traditional vial and needle technique is another element driving the market growth. In recent years, chronic illnesses have become more prevalent. Injections are required daily or monthly for the treatment of diabetes, cardiovascular disease, osteoporosis, and multiple sclerosis. Injector pens are perfect for chronic illnesses that require frequent medication administration. Needle Free Injection pens are becoming a common way to administer injectable medications. Due to their simplicity of use and ability to be administered without a professional, they have become more popular. The demand for injectable pen technologies has risen as chronic illnesses become more widespread in order to effectively address the growing patient population and encourage treatment adherence.

Injection Pen Market Segment Insights

Injection Pen Type Insights

The  injection pen market segmentation, based on type, disposable injection pens. The disposable injection pen segment held the majority share in 2021 in respect to the  injection pen market revenue. This is explained by the disposable injection pens' high level of affordability and safety. Due to the reusability of the injections, the disposable injection pens enhance safety against blood-borne infections and can only be used once. The disposable injection pen market has been expanding over the past few years because to factors such ease of accessibility, rising consumer awareness, rising healthcare costs, and an increase in the prevalence of diseases associated to insulin.

Injection Pen Product Insights

The  injection pen market segmentation, based on product, includes insulin pens and pen needles. The insulin pen segment dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. This is due to the increasing diabetes patients. As per the International diabetes federation, the diabetic population is expected to reach at 643 million by 2030 ly.

For Instance: Reusable smart insulin pens, are now readily accessible and come with an intuitive smartphone app that can help diabetics better control their insulin dosage. Additionally, these are frequently more affordable, simpler to use, and offer a number of advantages and enhancements for patients who rely on insulin to treat their diabetes; as a result, demand for such innovative technologies is only increasing, which is fueling market revenue growth.

Injection Pen Therapy Insights

The  injection pen market data has been bifurcated by therapy in diabetes. The diabetes segment dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. The increasing prevalence of diabetes, rising awareness of insulin pens among diabetic patients, the growing availability of insulin pens, and the increasing elderly population are the major contributors in the market growth.

The World Health Organization claims that diabetes is a significant contributor to kidney failure, blindness, and stroke. Additionally, cardiovascular illnesses are the main cause of death worldwide, accounting for 32% of all fatalities. Therefore, it is anticipated that the  market for injectable pens will experience growth due to the rising prevalence of different chronic and non-communicable diseases among the population.

Injection Pen Distribution Channel Insights

Based on Distribution Channel, the  injection pen industry has been segmented into hospital and pharmacies. Hospitals held the largest segment share in 2021, owing to the rapid adoption of injection pen. Moreover, increasing government initiatives to improve the healthcare infrastructure, and the growing number of diabetes patients is expected to boost the market during the assessed timeline. Improved consumer spending on healthcare, rising disposable income, increased consumer knowledge of the use of injection pens are the main drivers of this market's expansion.

July 2023:Injector pens for the low-cost insulins produced by Civica, Inc. will be manufactured and supplied by Ypsomed AG beginning in July 2023.  Prior to this announcement, Civica stated that it planned to manufacture three insulin biosimilars: glargine, lispro, and aspart. Both vials and prefilled pens will be made available for purchase. The business hopes to sell the insulins at far lower prices than the competition. Civica will be able to help make self-administered treatment more affordable for Americans with diabetes with the assistance of Ypsomed, a recognized injectable device specialist with over 35 years of experience. 

Injection Pen Regional Insights

By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North America Injection Pen market accounted for USD 18.79 billion in 2021 and is expected to exhibit a significant CAGR growth during the study period. This is attributed to the growing diabetic patients and rising elderly population across the region.

Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe injection pen market accounts for the second-largest market share due to the availability of cutting-edge treatment facilities, government backing for the growth of the healthcare industry, an ageing population, and an increase in incidence of diabetic disease, cancer. Further, the Germany injection pen market held the largest market share, and the UK injection pen market was the fastest growing market in the European region

The Asia-Pacific injection pen Market is expected to grow at the fastest CAGR from 2022 to 2030. Increasing rates of chronic diseases due to the unhealthy food, physical inactivity, and the increasing consumption of tobacco and alcohol in youth. Moreover, China injection pen market held the largest market share, and the India injection pen market was the fastest growing market in the Asia-Pacific region.

Injection Pen Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the Injection Pen market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the injection pen industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

One of the primary business strategies adopted by manufacturers in the  injection pen industry to benefit clients and expand the market sector is to manufacture locally to reduce operating costs. In recent years, injection pen industry has provided medicine with some of the most significant benefits. The injection pen market major player such as Novo Nordisk, Eli Lilly, Sanofi, Merck, Ypsomed, AstraZeneca, Hoffman-La Roche, Becton Dickinson and Company, Owen Mumford, Novartis and others are working to expand the market demand by investing in research and development activities.

Sanofi, is a cutting-edge healthcare organisation with a single goal: to use science's wonders to enhance people's lives. Company’s team works to change the way medication is delivered to patients by making the seemingly impossible feasible. It protect millions of people with potentially life-saving vaccines and treatments, and we give them inexpensive access to our medications in some of the world's poorest nations.

For Instance: April 2020, the FDA approved Sanofi (Francenovel )'s Dupixent prefilled pen for use in the management of atopic dermatitis, asthma, and chronic rhinosinusitis with nasal polyposis. The pen can be used at home for administration.

Also, In June of this year, Sanofi (France), the manufacturer of the Toujeo SoloStar Pens, received approval in Europe.

Merck is a major provider of solutions and services for the study, creation, and distribution of pharmaceutical and biotechnology drug therapies for the worldwide life science market. Together with its coworkers, clients, and stakeholders, company use science to improve life and health. Researchers must have access to cutting-edge equipment, services, and knowledge in order to conduct tests and design new products before they can create scientific breakthroughs.

With best-in-class solutions for pharmaceutical development and manufacture, a fully integrated service organisation to support CDMO and contract testing across conventional and cutting-edge modalities, and one of the broadest portfolios in the sector for scientists, we lead the market.

For Instance: January 2019, Merck KGaG released Pergoveris in as an injectable gonadotropin pen for reproductive therapy (Germany).

Key Companies in the injection pen market includes

  • Novo Nordisk

  • Eli Lilly

  • Sanofi

  • Merck

  • Ypsomed

  • AstraZeneca

  • Hoffman-La Roche

  • Becton Dickinson and company

  • Owen Mumford

  • Novartis

Injection Pen Industry Developments

October 2017: Eli Lilly launched Humalog Junior KwikPen for the U.S. diabetic patients.

2019: Becton, Dickinson and company (BD) have introduced the BD Stevia, a thorough two-step disposable auto-injector. The parental drug association in 2019 universe of injection devices and pre-filled syringes conference saw the unveiling of this platform device, which is a combination of pre-fillable syringe and insulin auto-injector pen in one integrated system.

As per TEVA PHARMACEUTICALS USA,INC, the AJOVY auto-injector has been commercial launched in United States. This kind of injection pen is designed to treat migraines in adults as per preventative measure.

Injection Pen Market Segmentation

Injection Pen Type Outlook

  • Disposable Injection Pens

Injection Pen Product Outlook

  • Insulin Pens

  • Pen Nedles

Injection Pen Therapy Outlook

  • Diabetes

Injection Pen Distribution Channel Outlook

  • Hospital Pharmacies

Injection Pen Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

  • Latin America

Report Scope:

Report Attribute/Metric Details
Market Size 2021 USD 43.2 billion
Market Size 2022 USD 46.18 billion
Market Size 2032 USD 74.4 billion
Compound Annual Growth Rate (CAGR) 6.5 % (2023-2032)
Base Year 2021
Market Forecast Period 2023-2032
Historical Data 2018 & 2020
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Type, Product, Therapy, Distribution Channel, and Region
Geographies Covered North America, Europe, Asia Pacific, and Rest of the World
Countries Covered The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled Novo Nordisk, Eli Lilly, Sanofi, Merck, Ypsomed, AstraZeneca, Hoffman-La Roche, Becton Dickinson and Company, Owen Mumford, Novartis
Key Market Opportunities Increasing need for injectable pen technologies Rising diabetic patients Increasing disposable income
Key Market Dynamics Increasing awareness regarding injectable pens Government initiatives towards health sector

Frequently Asked Questions (FAQ) :

The injection pen market size was valued at USD 43.2 billion in 2021.

The market is projected to grow at a CAGR of 6.5% during the forecast period, 2023-2032.

North America had the largest share in the market.

The key players in the market are Novo Nordisk, Eli Lilly, Sanofi, Merck, Ypsomed, AstraZeneca, Hoffman-La Roche, Becton Dickinson and Company, Owen Mumford, Novartis.

The disposable injection pen category dominated the market in 2021.

The diabetes had the largest share in the market.

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players’ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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