Global Injection Pen Market Insights Forecasts to 2033

• The Global Injection Pen Market Size was Valued at USD 38.7 Billion in 2023
• The Market Size is Growing at a CAGR of 6.9% from 2023 to 2033
• The Worldwide Injection Pen Market Size is Expected to Reach USD 75.4 Billion by 2033
• Asia Pacific is expected to grow the fastest during the forecast period

The Global Injection Pen Market Size is anticipated to exceed USD 75.4 Billion by 2033, Growing at a CAGR of 6.9% from 2023 to 2033.  

Market Overview

An injection pen is a medical device used for administering medication through subcutaneous (under the skin) or intramuscular (into the muscle) injections. It typically consists of a cartridge containing the medication, a needle, and a mechanism for delivering the correct dosage. The injection pen become the best alternative to the daily syringes. In addition, it is made for those patients who have limited skill, poor vision, and self-medication on certain occasions and others. Nowadays, insulin administration is mostly done with the help of injection pen. Therefore, an injection pen is also called an insulin pen. According to (NIH) National Institutes of Health, sales of vials used to administer insulin to treat type 2 diabetes have been overtaken by the sales of these injection pens. Diabetes is a serious health problem that is very common everywhere. It is expected that 537 million persons between the ages of 20 and 79 have diabetes. Patients suffering from diabetes constitute 10.5% of the global population. A vital part of managing both type 1 and type 2 diabetes is insulin therapy. Healthcare professionals (HCPs) and patients must have a comprehensive awareness of injection techniques to obtain a good outcome for patients with diabetes, as insulin injection processes depend on the operator. Pen injection devices are a well-recognized and used method for daily self-administered insulin injections in the treatment of diabetes. When it comes to administering insulin from a vial, patients find pen injection methods to be easier than using a syringe. Therefore, the increased prevalence of diabetes among the population has boosted the adoption of injection pens.

Report Coverage

This research report categorizes the market for the global injection pen market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global injection pen market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global injection pen market.

Driving Factors

The rising prevalence of chronic diseases such as diabetes, arthritis, multiple sclerosis, and osteoporosis among the global population is a significant driving force behind the growth of the injection pen market. Injection pens offer a convenient and user-friendly method for self-administration of medications, particularly for patients requiring frequent injections. Continuous advancements in injection pen technology have improved the ease of use, accuracy, and safety of these devices. Innovations such as dose memory functions, needle safety features, and Bluetooth connectivity for tracking injections have enhanced patient adherence and overall satisfaction, thus driving market growth. The global aging population is driving the demand for injection pens, as elderly individuals often require regular medication for chronic conditions. Injection pens provide a simple and efficient method for seniors to administer their medications safely and accurately, contributing to market growth. Government initiatives aimed at improving healthcare infrastructure and promoting self-care practices among patients further boost the adoption of injection pens. Policies focused on reducing healthcare costs and hospitalization rates also encourage the use of self-administered injection devices like pens.

Restraining Factors

Patients and medical staff are put in danger when modern delivery methods, such as injectable pens, are used inappropriately due to a lack of training and direction. This could have an impact on injectable pen use in medical facilities. Moreover, insulin in injectable pens may vary in strength. If the dose strength is not assessed, this raises the possibility of overdose. Another issue is reusing insulin pens. Stringent regulatory requirements for the approval of injection pens can delay market entry, increase development costs, and discourage innovation in the sector.

Market Segmentation

The global injection pen market share is classified into type, therapy, and end-user.

• The disposable segment is expected to grow at the fastest pace in the global injection pen market during the forecast period.    

Based on the type, the global injection pen market is divided into reusable and disposable. The disposable segment is expected to grow at the fastest pace in the injection pen market during the forecast period. This can be assigned to the disposable injection pens' price and safety. Because the injections are reusable, disposable injection pens increase safety against blood-borne infections. They should only be used once. The disposable injection pen market has grown over the past few years due to factors such as ease of availability, growing consumer awareness, increasing healthcare expenses, and an increase in the incidence of diseases associated with insulin.

• The diabetes segment is expected to grow at the fastest pace in the global injection pen market during the forecast period. 

Based on the therapy, the global injection pen market is divided into growth hormone, diabetes, fertility, osteoporosis, and others. Among these, the diabetes segment is expected to grow at the fastest pace in the injection pen market during the forecast period. Injection pens offer several advantages over traditional insulin delivery methods, such as vials and syringes. They provide more precise dosing, ease of use, discretion, and portability, which are especially beneficial for individuals managing diabetes in their daily lives. Blood glucose levels rise as a result of bad eating habits. It contributes significantly to type 1 diabetes. Type 2 diabetes is a condition that develops as the body gets resistant to insulin. This market is growing because type 1 and type 2 diabetes are becoming more prevalent globally.

• The home care segment is expected to hold the largest share of the global injection pen market during the forecast period.

Based on the end-users, the global injection pen market is divided into home care, hospitals & clinics, and others. Among these, the home care segment is expected to hold the largest share of the injection pen market during the forecast period. Self-injection pens are a helpful tool in the homecare segment for reducing the expenses of addressing and managing a wide range of illnesses. Furthermore, when it comes to new and innovative subcutaneous drug administration, self-injection pens are the recommended approach. The main reasons driving the development of this market are the increasing public's expenditure on healthcare, increased knowledge of injection pens, rising disposable income, and the growing use of new drug delivery devices by patients to manage their conditions.

Regional Segment Analysis of the Global Injection Pen Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the global injection pen market over the predicted timeframe.

North America is anticipated to hold the largest share of the global injection pen market over the predicted timeframe. The increased dominance of non-contagious diseases like cancer, diabetes, cardiovascular diseases, and multiple sclerosis in developed markets like Canada and the US helps to grow the market size of the injection pen market. The US population's rising prevalence of diabetics has contributed to an increase in the use of injectable pens. The main drivers that have fueled the development of the injection pen market in North America are the rise in healthcare spending, improved knowledge of modern medication delivery systems, and the accessibility of injection pens and their cartridges. Furthermore, the availability of financial plans and rewards can assist in decreasing the financial strain on patients. Throughout the duration of the project, this is anticipated to raise injection pen usage rates in North America, which will fuel the rapid growth of the market in that region. North America generally has better healthcare infrastructure and reimbursement policies compared to other regions. Patients in the region often have easier access to healthcare services and are more likely to receive coverage for prescription medications, including injection pens. This accessibility and affordability contribute to higher adoption rates in the region.

Asia Pacific is expected to grow at the fastest pace in the global Injection Pen market during the forecast period. The prevalence of chronic diseases such as diabetes is on the rise in the Asia Pacific region due to changing lifestyles, urbanization, and aging populations. Injection pens are commonly used for the self-administration of insulin and other medications needed to manage chronic conditions, driving market growth. Many countries in the Asia Pacific region are investing in upgrading their healthcare infrastructure, including hospitals, clinics, and pharmacies. This infrastructure development facilitates better access to healthcare services and medical devices in the region are some of the factors likely to boost the Asia Pacific market over the forecast period.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global injection pen along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Eli Lilly
• Novo Nordisk
• Sanofi
• Merck
• AstraZeneca
• Ypsomed
• F.Hoffman-La Roche
• Becton Dickinson and Company
• Haselmeier GmbH
• Gerresheimer AG
• AstraZeneca Plc
• Teva Pharmaceutical Industries Ltd
• Medtronic plc
• Owen Mumford Ltd
• Terumo Medical Corporation
• Braun Medical
• Sun Pharmaceutical Industries Ltd.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In January 2024, after receiving approval for pre-filling the Mounjaro medication into an injection pen, Eli Lilly (LLY.N), which opened a new tab, announced that it would provide the medication to British patients in a matter of weeks. Mounjaro fights diabetes and obesity. The US pharmaceutical company stated in a statement that the Medicines & Healthcare Products Regulatory Agency (MHRA) approval would make Britain the first significant market to receive the medication in the convenient multi-shot pen, known as Kwikpen.

• In February 2023, Sanofi's SoloStar and DoubleStar insulin injection pens are compatible with SoloSmart, a single-piece, add-on linked device. It reports the injection date, time, and insulin dosage. The company is now able to provide data visualization via the Glooko app due to this collaboration. Patients can connect their diabetic care with healthcare providers by sharing data with them.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global injection pen market based on the below-mentioned segments:

Global Injection Pen Market, By Type

• Reusable
• Disposable

Global Injection Pen Market, By Therapy

• Growth Hormone
• Diabetes
• Fertility
• Osteoporosis
• Others

Global Injection Pen Market, By End-User

• Home Care
• Hospitals & Clinics
• Others

Global Injection Pen Market, By Region

• North America
  • US
  • Canada
  • Mexico

• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa