The global injection pen market is forecasted to expand at 7.0% CAGR to reach a market valuation of USD 85.8 billion by the end of 2033, up from USD 40.7 billion that was recorded for 2022.
Due to a rise in the incidence of needle sticks, there is a greater demand for injection pens over the conventional vial and needle procedure, which is encouraging the market to grow
| Attribute | Details |
|---|---|
| Injection Pen Market Size (2023) | USD 43.4 Billion |
| Forecasted Market Value (2033) | USD 85.8 Billion |
| Value CAGR (2023 to 2033) | 7.0% |
| Collective Value Share: Top 5 Countries (2022) | 53.1% |
| Key Market Players | Novo Nordisk A/S, Medtronic plc, Becton, Dickinson and Company, Sanofi, Eli Lilly and Company, Merck, AstraZeneca, Hoffmann-La Roche Ltd., Owen Mumford Ltd, Ypsomed AG, Terumo Medical Corporation, Braun Medical, Sun Pharmaceutical Industries Ltd. |
Increasing numbers of chronic diseases, favorable reimbursement and government support, the growing number of regulatory approvals, and technological advancements in injectable pens are all driving factors in the market.
Injection pens are the ideal option as chronic conditions require frequent medication administration. Injection pens have replaced other delivery methods for injectable medications as the standard. Their popularity has increased as a result of their convenience and ability to be administered directly by the patient without a medical professional's assistance.
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The market for injection pen expanded at a CAGR of 6.4% during the historic period (2017 to 2022) and reached a market value of USD 40.7 billion in 2022.
Globally, diabetes is one of the main causes of death. As a result, the market for injection pen is being driven by the rising number of diabetic patients of all ages around the world as well as the ease of use and accuracy of insulin dose.
It is expected that future technological developments in injection pens will stimulate the market globally. Furthermore, technological developments like improved memory and precise dosage administration will contribute to a growth of the market.
For instance, additional technical developments include Insul Check, a cap for insulin pens with a sensor to monitor pen usage temperature. The iSenz insulin pen adaptor has a capability that can scan an object and determine the amount of insulin present.
The pricing of the injection pens makes them more accessible to people of all ages and geographies. Most injectable pens fall into two categories, reusable injection pens or disposable injection pens. A large number of patients prefer using prefilled injectable pens, which are disposable pens, to administer medications because of their convenience.
| Market Statistics | Details |
|---|---|
| Jan–Jun (H1), 2021 (A) | 5.36% |
| Jul–Dec (H2), 2021 (A) | 7.39% |
| Jan–Jun (H1),2022 Projected (P) | 5.04% |
| Jan–Jun (H1),2022 Outlook (O) | 5.51% |
| Jul–Dec (H2), 2022 Outlook (O) | 7.42% |
| Jul–Dec (H2), 2022 Projected (P) | 6.71% |
| Jan–Jun (H1), 2023 Projected (P) | 5.46% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | 47↑ |
| BPS Change : H1,2022 (O) - H1,2021 (A) | 14↑ |
| BPS Change: H2, 2022 (O) - H2, 2022 (P) | 71↑ |
| BPS Change: H2, 2022 (O) - H2, 2021 (A) | 03↑ |
Inadequate training and guidance for the use of advanced delivery systems, like injectable pens, results in inappropriate use, exposing patients and healthcare personnel to danger. This might affect the use of injection pens in a hospital setting. Furthermore, injection pens might carry insulin with variable strength. This increases the risk of overdosing in case the dose strength is not measured. Reusing insulin pens is another problem.
Additionally, patients have been seen using normal syringes without taking off the inner needle cover. The FDA claims that insulin pen treatment has also been linked to hyperglycemia in some individuals because it is difficult to regulate the dosage.
Injection pens market is getting slowed down due to injury and needle stick concern. As a result, there are several needle-free devices with the additional advantage of not triggering needle phobia commercially available on the market, which is a significant barrier to the widespread use of injection pen.
The growing geriatric population worldwide is expected to create lucrative opportunities for the injection pen market throughout the projected timeframe. With ageing, the overall immunity gets deteriorated, resulting in number of health issues in an individuals including chronic disease such as cardio vascular diseases and diabetes.
The downsides of using conventional syringes are one of the main reasons why consumers are switching to advanced injection pens. The pharmaceutical industry's increasing investments in the development of new medications are driving up consumer demand, which is in turn driving up demand for injectable pens for effectively administering medications.
The global injection pen market is expanding as a result of rising healthcare expenditure and increased public awareness of the availability of novel and convenient injection pens.
The injection pen market is expanding rapidly due to the increased prevalence of chronic diseases like cancer and autoimmune diseases. The International Agency for Research on Cancer stated that there were about more than 19.3 million cancer cases and 10 million cancer-related deaths worldwide in 2020.
| Country | The United States |
|---|---|
| Market Share (2023) | 28.9% |
| Market Share (2033) | 29.9% |
| BPS Analysis | 96 |
| Country | China |
|---|---|
| Market Share (2023) | 8.1% |
| Market Share (2033) | 8.7% |
| BPS Analysis | 61 |
| Country | Germany |
|---|---|
| Market Share (2023) | 5.5% |
| Market Share (2033) | 5.7% |
| BPS Analysis | 16 |
| Country | India |
|---|---|
| Market Share (2023) | 5.5% |
| Market Share (2033) | 5.9% |
| BPS Analysis | 43 |
| Country | Japan |
|---|---|
| Market Share (2023) | 5.2% |
| Market Share (2033) | 5.3% |
| BPS Analysis | 9 |
The USA is expected to dominate the global market at around 28.9% by the end of 2023.
The growing incidence of non-communicable diseases in the USA, including diabetes, cancer, cardiovascular disease, and multiple sclerosis have uplifted the market. In 2020, according to the USA CDC, there were approximately 34.2 million USA citizens who had diabetes and over 88 million had pre-diabetes. The use of injectable pens has expanded as a result of the rising prevalence of diabetes in the general population.
Germany is set to hold a share of 5.5% of the global market in 2023.
The primary drivers of the growth of the German market for injection pens include rising healthcare spending, increased awareness of advanced medication delivery systems for conditions like diabetes, cardiovascular problems etc., and the easy availability of injection pens and their cartridges. In Germany, cardiovascular diseases (CVDs) remain the leading cause of death, accounting for 34.3% of all deaths in 2020, according to a study published in the journal The Burden of Cardiovascular Diseases in Germany.
China is expected to hold a market share at 8.1% of the global market at the end of 2023.
The rising prevalence of several chronic diseases in the population as a result of unhealthy dietary pattern, physical inactivity, and rising alcohol and tobacco consumption among the general populations are factors anticipated to drive the market.
In China, the prevalence of chronic diseases in the country was 81.1%, which equates to 179.9 million affected Chinese older adults, according to a study that was published in the Journal of The American Medical Directors Association in 2022. The prevalence rose with age and peaked between the ages of 80 and 84.
Disposable injection pens are expected to hold a market share of 58.6% by the end of 2023.
Due to the affordability and safety of disposable injection pens, the disposable pen segment is predicted to drive the market over the forecast period. These injection pens enhance safety against blood-borne infections and can only be used once. The segment has been expanding over the past few years because to factors such ease of accessibility, rising consumer awareness, and an increase in the number of insulin related diseases.
Based on indication, diabetes is expected to hold a majority of the segment share at the end of 2023 at around 56.9%.
Blood glucose levels rise as a result of unhealthy diet habits. It is a significant factor in type 1 diabetes. Type 2 diabetes develops as a result of the body becoming resistant to insulin. The prevalence of type 1 and type 2 diabetes is increasing worldwide, which is boosting this segment's expansion. The International Diabetes Federation predicts that there will be around 643 million diabetics worldwide by 2030.
As per distribution channel, the hospital pharmacies segment is set to hold 35.5% revenue share in 2023.
The presence of vast patient pool of chronic diseases especially for cardiovascular diseases and diabetes seek treatment and care at hospitals, ultimately leading to product sales from hospital pharmacies under the guidance of medical experts and professionals.
The injection pen market is competitive and has several established companies. To increase their position in the market, key players have been adopting methods such as product launches and certification/ product approvals for new product.
Recent Market Developments
Similarly, recent developments have been tracked by the team at Future Market Insights related to companies in the injection pen market, which are available in the full report.
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2017 to 2022 |
| Market Analysis | USD Million for Value |
| Key Regions Covered | North America; Latin America; Europe; Asia-Pacific excluding Japan; and the Middle East & Africa |
| Key Countries Covered | The USA, Canada, Brazil, Mexico, Argentina, United KLingdom, Germany, Italy, Russia, Spain, France, BENELUX, India, Thailand, Indonesia, Malaysia, Japan, China, South Korea, Australia, New Zealand, Türkiye, GCC Countries, North Africa, and South Africa |
| Key Market Segments Covered | Product, indication, distribution channel and region |
| Key Companies Profiled |
Novo Nordisk A/S; Medtronic plc; Becton, Dickinson and Company; Sanofi; Eli Lilly and Company; Merck; AstraZeneca; Hoffmann-La Roche Ltd.; Owen Mumford Ltd; Ypsomed AG; Terumo Medical Corporation; Braun Medical; Sun Pharmaceutical Industries Ltd. |
| Report Coverage | Market Forecast, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
| Pricing | Available upon Request |
The market is valued at USD 43.4 million in 2023.
Medtronic plc, & Becton, Dickinson, and Company are the leading market players.
The market is expected to value at USD 85.8 billion in 2033.
The disposable segment is likely to remain preferred through 2033.
The market registered a CAGR of 6.4% from 2017 to 2022.
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Injection Pen Market
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