The global injection pens/injectable pens/pen injectors market is expected to reach USD 67.9 billion by 2025, according to a new report by Grand View Research, Inc., registering a 9.4% CAGR during the forecast period. High demand for these devices for management of various chronic as well as acute diseases and increasing awareness in developing regions are key factors expected to drive the market.
Injectable pens have witnessed significant success in improving patient convenience during management of chronic disease, a process that might include administering intermittent injections. These devices are more convenient and affordable than other delivery systems. Ongoing studies on the same to assess their applications in management of other diseases, including but not limited to Hepatitis C and cancer, is expected to ensure swift market growth through 2025.
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Further key findings from the study suggest:
Rising incidence of diseases such as diabetes and arthritis is primarily boosting market growth
Increase in government healthcare expenditure and availability of favorable healthcare insurance policies in developed as well as developing countries is driving the market
By product, reusable injectable pens are the largest and fastest growing segment owing to the advantages associated with them such as cost effectiveness and patient convenience. Commercially available reusable injectable pens mainly include Novopen, Luxura, Berlipen, AllStar, NovoRapid, basalgar, Bydureon, Epipen and Genotropin
By dosage, variable dosage is the fastest growing segment. Some of the customizable variable pens are UnoPen, ServoPen and Ypsopen by Ypsomed, Madie by SHL Group, and Evo pen by Copernicus
North America dominates the market, followed by Europe. Technological advancements and increase in incidence of osteoporosis, arthritis, and anaphylaxis are factors that can be attributable to its largest market share
Asia Pacific is expected to be the fastest growing region over the forecast period. Better accessibility to healthcare, coupled with constantly increasing healthcare expenditure in the region, is fueling market growth
China is one of the most lucrative markets with tremendous growth opportunities for global as well as local players. This is owing to favorable factors such as availability of labor and raw materials at significantly lower prices as compared to other regions
Key players in the market include Owen Mumford Ltd.; GlaxoSmithKline plc; Eli Lilly and Company; Mylan N.V.; AstraZeneca; Novo Nordisk; Sanofi; and Sandoz Inc.
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Grand View Research has segmented the global injection pens market on the basis of product, dosage, application, and region:
Injection Pens Product Outlook (Revenue, USD Billion, 2014 – 2025)
Disposable
Reusable
Injection Pens Dosage Outlook (Revenue, USD Billion, 2014 – 2025)
Fixed
Variable
Injection Pens Application Outlook (Revenue, USD Billion, 2014 – 2025)
Diabetes
Insulin
Non-insulin
Anaphylaxis
Osteoporosis
Growth hormone deficiency
Arthritis
Others
Injection Pens Regional Outlook (Revenue, USD Billion, 2014 – 2025)
North America
U.S.
Canada
Europe
Germany
U.K.
Greece
Denmark
Spain
Norway
Belgium
Austria
Asia Pacific
Japan
China
India
Thailand
Australia
Singapore
Malaysia
Sri Lanka
Bangladesh
South Korea
Latin America
Brazil
Mexico
Argentina
MEA
UAE
Saudi Arabia
South Africa
Qatar
Kuwait
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
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