Injection Pen Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 45.10 Billion |
| Market Size (2029) | USD 62.74 Billion |
| CAGR (2024 - 2029) | 6.80 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Injection Pen Market Analysis
The Injection Pen Market size is estimated at USD 45.10 billion in 2024, and is expected to reach USD 62.74 billion by 2029, growing at a CAGR of 6.80% during the forecast period (2024-2029).
An injection pen is a tool for injecting medicine beneath the skin, sometimes referred to as a medication pen. Injection pens are compact, handheld devices that resemble a pen. They are usually made of plastic and consist of a cartridge, a dial or push-button mechanism, a needle, and a removable cap. Many injection pens allow precise dose adjustments, typically in 1-unit increments, which can be particularly useful for individuals with varying insulin needs. These pens are preferred over vials and syringes as they enable the delivery of medicine in shorter intervals of time.
There has been a global increase in the prevalence of chronic diseases, including autoimmune diseases and diabetes. Societal factors, lifestyle changes, and external stress factors contribute to a pervasive chronic disease crisis. For instance, according to the data published by the Institute for Health Metrics and Evaluation, United States, in 2023, global diabetes cases are expected to soar from 529 million in 2022 to approx. 1.3 billion by 2050. On a global scale, diabetes is the most prevalent health condition among people who are 65 and older, with a prevalence rate of above 20% for the world population.
Moreover, in developing nations, diseases like diabetes are increasing rapidly. According to a study by the Indian Council of Medical Research in August 2023, the prevalence of diabetes in India was 100 million by the end of 2022. The prevalence of diabetes mellitus is increasing across the world. Adherence of diabetes patients to recommended care, like intake of insulin, can markedly reduce complication rates, and this is one of the factors that may drive the demand for injection pens in the market studied.
Self-administration of injectable drugs through pen injectors has been a growing market trend due to their benefits, such as ease of handling, administration, injection time, portability, storage, and dose confirmation. In May 2023, a pilot survey study was published in Advances in Therapy, which evaluated the efficacy of injection pens like Smartclic among patients, caregivers, and physicians. The study stated that self-injection pens like Smartclic are easy to perform, safe, and can be used independently at home. So, a rise in preference for self-administration is another factor that may drive the injection pen market.
However, substantial obstacles for injection pen users, particularly for those with hand function impairment or anxiety related to self-injection, may restrain the market's growth.
Injection Pen Market Trends
The Disposable Segment is Expected to Dominate the Injection Pen Market During the Forecast Period
Disposable injection pens come pre-filled with medication, eliminating the need for manual filling from vials. This property of the pens saves time and effort, especially for individuals who require frequent injections. With a disposable pen, there is no need to carry additional vials of medication or worry about measuring the correct dose, making it more convenient for everyday use. Disposable injection pens are designed to be user-friendly, even for individuals with limited dexterity or visual impairments. They typically have clear and intuitive instructions, making it easier for users to understand the dosage settings and injection process.
Moreover, the pre-filled cartridges also ensure accurate dosing, reducing the risk of errors in medication administration. Since disposable pens come pre-filled, there is no need for repeated needle use or medication transfer between vials. This also reduces the risk of contamination and infection, as there are fewer chances for air or external particles to enter the pen during the injection process.
In addition, disposable injection pens are more affordable to produce compared to similar drug delivery devices. For instance, in February 2023, Koninklijke Philips NV, in collaboration with Medisize, a subsidiary of the Molex Company, announced the introduction of a disposable injection pen, which is more affordable to produce and delivers novel and generic drugs for the treatment of diabetes, fertility issues, etc. Thus, all the aforementioned factors, such as product launches and the ease-of-use feature of disposable injection pens, are expected to boost the market growth.
North America is Expected to Dominate the Injection Pen Market
In North America, the recent developments highlight the ongoing efforts of major players and organizations to enhance their platforms, provide more personalized care, and contribute to the overall growth of the market. As a hub for technological innovation, the region witnessed tremendous advancements in drug delivery devices. For instance, in January 2023, the FDA approved Biocorp’s Mallya, a smart injection pen, to deliver insulin and keep track of the dose and time of injection through a smartphone connection. Currently, more than 10% of the US population is diagnosed with diabetes.
Moreover, the growing awareness of injection pens in North America has significantly contributed to their rapid adoption across various disease indications. Individuals are seeking accessible, technology-driven drug delivery solutions, driving the market's growth. Players are trying to launch innovative products to treat different disease indications in the United States. In February 2023, the Tezspire injection pen, by AstraZeneca and Amgen, received FDA approval to treat severe asthma in the US population.
In conclusion, key product launches and the presence of market players in the United States are some of the factors driving the growth of the injection pen market in the country. Therefore, owing to the factors mentioned above, the market studied is anticipated to flourish in North America.
Injection Pen Industry Overview
The injection pen market is moderately consolidated in nature. The market is diverse, with various companies offering a wide range of injection pens. However, there are a few companies that are dominating the market. Each company brings its unique innovation and launches in respective regions and gets approval for different indications to use in different platforms, leading to a fragmented landscape. Some of the players operating in the market are Boehringer Ingelheim Pharmaceuticals Inc., Novo Nordisk, medac GmbH, Gerresheimer AG, Haselmeier, Lilly, Ypsomed AG, Owen Mumford, AstraZeneca, and SHL Medical.
Injection Pen Market Leaders
-
Novo Nordisk
-
medac GmbH
-
Lilly
-
Gerresheimer AG
-
Owen Mumford
*Disclaimer: Major Players sorted in no particular order
Injection Pen Market News
- February 2024: Eisai Co. Ltd and nippon medac Co. Ltd obtained marketing and manufacturing approvals for Metoject Subcutaneous Injection, an injection pen that contains methotrexate drugs to treat rheumatoid arthritis patients in Japan.
- September 2023: Novo Nordisk launched its weight-loss injection pen, Wegovy, in the United Kingdom to expand its presence in Europe.
Injection Pen Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
-
4.2 Market Drivers
- 4.2.1 High Prevalence of Diabetes and Rise in Preference for Self-administration
- 4.2.2 Increasing Number of Drugs Delivery Through Injection Pens
- 4.2.3 Increasing Awareness About the Use of Injection Pens Over the Conventional Vial and Needle Procedure
-
4.3 Market Restraints
- 4.3.1 Inadequate Training and Guidance for the Use of Advanced Delivery Systems like Injectable Pens in Developing and Under-developed Nations
-
4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
-
5.1 By Product Type
- 5.1.1 Reusable
- 5.1.2 Disposable
-
5.2 By Indication
- 5.2.1 Diabetes
- 5.2.2 Autoimmune Diseases
- 5.2.3 Other Indications
-
5.3 By Distribution Channels
- 5.3.1 Hospital Pharmacies
- 5.3.2 Retail Pharmacies
- 5.3.3 Online Pharmacies
-
5.4 Geography
- 5.4.1 North America
- 5.4.1.1 United States
- 5.4.1.2 Canada
- 5.4.1.3 Mexico
- 5.4.2 Europe
- 5.4.2.1 Germany
- 5.4.2.2 United Kingdom
- 5.4.2.3 France
- 5.4.2.4 Italy
- 5.4.2.5 Spain
- 5.4.2.6 Rest of Europe
- 5.4.3 Asia-Pacific
- 5.4.3.1 China
- 5.4.3.2 Japan
- 5.4.3.3 India
- 5.4.3.4 Australia
- 5.4.3.5 South Korea
- 5.4.3.6 Rest of Asia-Pacific
- 5.4.4 Middle East and Africa
- 5.4.4.1 GCC
- 5.4.4.2 South Africa
- 5.4.4.3 Rest of Middle East and Africa
- 5.4.5 South America
- 5.4.5.1 Brazil
- 5.4.5.2 Argentina
- 5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
-
6.1 Company Profiles
- 6.1.1 Boehringer Ingelheim Pharmaceuticals Inc.
- 6.1.2 Novo Nordisk
- 6.1.3 medac GmbH
- 6.1.4 Gerresheimer AG
- 6.1.5 Haselmeier
- 6.1.6 Lilly
- 6.1.7 Ypsomed AG
- 6.1.8 Owen Mumford
- 6.1.9 AstraZeneca
- 6.1.10 SHL Medical
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityInjection Pen Industry Segmentation
An injection pen is a device that is used to deliver drugs. It typically consists of a cartridge or prefilled drug reservoir, a disposable needle, and a pen-like device that holds and delivers the medication. Injector pens are designed to make injectable medication more accessible and convenient, thus increasing patient adherence. This industry combines innovative, advanced technologies to offer personalized, accessible, and effective solutions for individuals seeking support for drug delivery.
The injection pen market is segmented by product, indication, and geography. By product, the market is segmented into disposable and reusable. By indication, the market is segmented into diabetes, autoimmune diseases, and other indications. By distribution channel, the market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. By geography, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and South America. The report offers market sizes and forecasts in terms of value (USD) for all the above segments.
Injection Pen Market Research FAQs
How big is the Injection Pen Market?
The Injection Pen Market size is expected to reach USD 45.10 billion in 2024 and grow at a CAGR of 6.80% to reach USD 62.74 billion by 2029.
What is the current Injection Pen Market size?
In 2024, the Injection Pen Market size is expected to reach USD 45.10 billion.
Who are the key players in Injection Pen Market?
Novo Nordisk, medac GmbH, Lilly, Gerresheimer AG and Owen Mumford are the major companies operating in the Injection Pen Market.
Which is the fastest growing region in Injection Pen Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Injection Pen Market?
In 2024, the North America accounts for the largest market share in Injection Pen Market.
What years does this Injection Pen Market cover, and what was the market size in 2023?
In 2023, the Injection Pen Market size was estimated at USD 42.03 billion. The report covers the Injection Pen Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Injection Pen Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Injection Pen Industry Report
Statistics for the 2024 Injection Pen market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Injection Pen analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
