The global injection pen market is projected to grow at a CAGR of 6.8% during the forecast period (2020-2026). The key factors that drive the growth of the market include the increased demand for modern and self-drug delivery devices for patients across the globe. The ability to self-inject is one of the prominent drivers for the growth of the injection pens market, which encourages its adoption over the forecast period. These injection pens are primarily used for the subcutaneous delivery of the drugs and also for the self-administration of the drugs. Moreover, the rising prevalence of various disorders such as diabetes, arthritis, and hormonal disorders across the globe is also promoting the growth of the market. 

Further, there has also been a significant shift from the syringes and vial for the drug delivery to the self-injection among the patients, as these novel drug delivery devices are known to be easier and more convenient for the patients to use. The injection pens also leverage the benefit of home care treatment solutions, which again is a major factor accelerating the growth of the injection pen market over the forecast period. Furthermore, the contributions by the key players in the development of more advanced injection pens are also contributing to the market growth, as these are widely preferred by nearly half of the patient pool suffering from diabetes problems. 

Segmental Outlook

The global injection pen market is segmented on the basis of type, and disorder type. Based on the type, the market is bifurcated into reusable and disposable. Most of the injectors available today are reusable as these require the replacement of only needles and cartridges. In addition, these can be used for a longer time, which makes them cost-effective. Based on the disorder type, the market is segmented into autoimmune disease, hormonal disorders, orphan disease, and others. The autoimmune disorder which includes diabetes and arthritis is a major application for an injection pen.

Reusable Injection Pens to Hold a Substantial Share in the Global Injection Pen Market

Amongst the type segment of the global injection pen market, the reusable injection pen segment is projected to hold a lucrative share in the market. The segmental growth of the market is attributed to the cost-effectiveness property offered by the injection pen type. These reusable pens, however, require the loading of a cartridge periodically, rather than replacement of needles on a frequent basis. 

The reusable injection pens can also be used for a long period and are considered easy and convenient for the delivery of drugs and medications. Further, there is also a wide range of reusable pens available in the market, offered by the key players. Novopen, AllStar, NovoRapid, Luxura, Berlipen, Basalgar, Bydureon, Genotropin, and Epipen are some of the reusable pens offered by the key players operating in the injection pen market across the globe. 

Global Injection Pen Market by Type, 2019 (%)

Regional Outlook

The global injection pen market is geographically segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America region is projected to hold a significant market share. The regional growth of the market is attributed to the rising prevalence of several diseases across the region. As per the OECD, by 2030, around 47.0% of the population in the US is anticipated to be obese. The presence of key players, technological advancements, availability of a broad range of products, and their wide distribution network are some other factors that drive the growth of the injection pen market across the region. 

Global Injection Pen Market, by Region 2019 (%)

Further, the Asia-Pacific region is estimated to witness significant growth during the forecast period. The regional growth is attributed to the rising geriatric population in economies such as Japan and India. The elder people require better and safer delivery devices, owing to which they adopt such drug delivery devices which further drives the injection pen market in the Asia-Pacific region.

Market Players Outlook

Some of the prominent players operating in the global injection pen market include Eli Lily & Co., F. Hoffmann-La Roche Ltd., Pfizer Inc., Becton, Dickinson & Co., Novo Nordisk A/S, Owen Mumford Ltd., AstraZeneca Plc, and others. These are the key companies providing various models and sizes of injection pens for the treatment of several diseases. These key manufacturers are adopting various strategies such as new product launches and approvals, merger and acquisition, partnerships and collaborations, and many others in order to thrive in a competitive environment. 

For instance, in August 2018, Pfizer has tapped Antares Pharma for the development of a self-administered combination drug-device rescue pen for an undisclosed medicine, shortly after investing $465 million in a new sterile injectables plant. Under a separate supply deal, Antares will deliver the finished, fully packaged product to Pfizer at cost, plus margin, while the Big Pharma will then be responsible for its commercialization.

The Report Covers

• Market value data analysis of 2019 and forecast to 2026.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global injection pen market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.