Injection Pen System Market Key Players Overview Applications and Analysis 2028

The "Injection Pen Market" is expected to reach US$ 60,332.97 million by 2028 from US$ 37,261.35 million in 2021; it is estimated to register a CAGR of 7.14% from 2022 to 2028.

Prevalence of chronic disorders and growth in strategic developments are among the key forces driving the market. However, the availability of alternative drug delivery devices and inadequate reimbursement scenario hinder the market growth. An injection pen is a medical device used for incorporating medicine under the skin with the help of needle. The product was first used in 1980s. Injection pen is one of the best alternatives over the daily syringes. At present, injection pens are majorly used for insulin administration. Sometime injection pens are also referred as insulin pen. These injection pens have surpassed the sales of vials for insulin administration to treat diabetes type 2.

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Companies Profiled in this report includes:

• Novo Nordisk A/S
• Novartis AG
• Eli Lilly
• Merck KGaA
• Wilhelm Haselmeier GmbH & Co. KG
• Astrazeneca
• F.Hoffman-La-Roche
• BD
• Pfizer
• Teva Pharmaceutical Industries Ltd.

The aging population and changes in social behavior contribute to a few common and costly long-term health problems. According to the World Health Organization (WHO), the prevalence of chronic lifestyle diseases is projected to reach 57% by 2026. Emerging markets will be hit hardest, as population explosion is expected in developing countries. With the accelerating urbanization, people are more inclined toward sedentary lifestyle, which results in obesity and diabetes. Diabetes is one of the biggest global health problems of the 21st century. According to the International Diabetes Federation (IDF), the number of people with diabetes in North America was about 46 million in 2019 and is projected to increase to 62 million by 2045. The increase in disease prevalence is about 35% over the predicted period. Furthermore, other chronic conditions such as osteoporosis, cardiovascular disorders, and multiple sclerosis require frequent drug administration for treatment and disease management.

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Injection Pen Market Segmentation:

By Type:
• Disposable Injection Pens
• Reusable Injection Pens

By Therapy:
• Diabetes Therapy
• Growth Hormone Therapy
• Autoimmune Diseases Therapy
• Fertility Therapy
• Cancer Therapy
• Other Therapies

By End User:
• Home Care

As per the WHO, cardiovascular disorders are the leading cause of death-nearly 17.9 million deaths are reported every year due to cardiovascular disorders. It has become new standard for injectable drug delivery among large patient population on a global level. Moreover, it can be easily used by the large patient population with minimal training with does not require constant assistance from of healthcare professionals, owing to which injection pens are largely adopted in home healthcare settings, thereby driving its market growth.

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Furthermore, the injection pen market is characterized by the presence of various market players. To increase their market share, market players take up various strategies such as product launches, regional expansion, and technological advancements. Injection pens are more involved in continuous innovation and technological advances, leading to increased acceptance among industry players. Leading players invest in R&D to develop advanced technologies and gain more revenue.

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