Global Pen Injectors Market – Industry Trends and Forecast to 2030

Pen Injectors Market Analysis and Size

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 due to their convenience and ability to be administered directly by the patient without a medical professional's assistance.

Data Bridge Market Research analyses that the Pen Injectors market, which was USD 3,500.00 million in 2022, would rocket up to USD 5,792.48 million by 2030 and is expected to undergo a CAGR of 6.5% during the forecast period. This indicates the market value. Diabetes dominates the therapy segment of the market due to the growing demand for diabetes testing.

In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Pen Injectors Market Scope and Segmentation

Market Definition

With the rise in Sthe healthcare sector, pen injectors have become the new standard for injectable drug-delivery systems. Their popularity has soared due to their simplicity, reliability, and ability to be administered directly by the patient without the aid of a physician. These devices require intensive, highly regulated testing to ensure that they work as intended every time. As their technology continues to develop and improve, the equipment to test them is becoming increasingly sophisticated through advanced automated capabilities and integrated sensors.

Global Pen Injectors Market Dynamics

Drivers

• Growing Prevalence of patients and promoting treatment to boost the market growth

Drugs are supposed to be administered into the body using injection pens as conveniently and painlessly as feasible. It is a small, portable device that can be held in the hand and used to give medications for treating many different conditions. It is estimated that over the forecasted period, the value of the injection pen market will increase due to the increased prevalence of chronic diseases, including osteoporosis and diabetes.

When applied on the skin, the pressure from the pen injector causes the actuation of a needle shield which engages the needle and causes the device to inject the drug. Pen injectors, on the other hand, typically serve patients with chronic diseases who require regular doses of medication to alleviate symptoms. These devices require the patient to activate a push-button, activating the needle into the targeted injection site.

• Research and development proficiencies

Rising expenditure for research and development proficiencies, especially in the developed and developing economies about medical devices and advanced products, will further create lucrative market growth opportunities. Research and development proficiencies being conducted to develop medical instruments are also expected to drive the market growth rate.

When developing drug-delivery device systems, it is essential to identify equipment that can efficiently perform all required product testing while intelligently capturing and evaluating the test data per government regulations. The test system must also be flexible and modular enough that manufacturers can change and add functionality over time.

• Increasing government initiatives for improving healthcare

The healthcare sector is increasing rapidly, which s a significant impact on public health and economic activity. The increasing government initiatives for advanced systems enhance the demand for pen injectors. Pen Injectors are increasing in households, hospitals, and independent laboratories.

When developing and mass producing such devices, manufacturers usually perform a combination of testing to government-regulated standards and internal quality testing to ensure the efficacy of the device. Internal quality testing is often necessary because international standards committees cannot always amend testing standards as quickly as the device technology evolves.

Opportunities

• Upsurge in the public-private

Furthermore, an upsurge in the public-private funding for target research activities, rising demand for chronic diseases treatments using advanced drugs, and rising product innovations and development owing to technological advancements worldwide will extend profitable opportunities for the market players in the forecast period of 2023 to 2030. In addition, the rising internet penetration rate, rise in the elderly and obese population globally, and increasing per capita expenditure on health care will further expand the market's growth rate in the future. 

Restraints/Challenges

• High costs associated with research and development proficiencies

On the other hand, high costs associated with research and development proficiencies, limited infrastructural facilities, and a shortage of awareness in backward economies are expected to obstruct market growth. Also, the lack of favorable reimbursement scenarios and technology penetration in developing economies, the heavy customs duty imposed on medical devices, and the lack of suitable infrastructure in low- and middle-income countries are projected to challenge the market in the forecast period of 2023-2030.

This pen injectors market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the pen injectors market contact Data Bridge Market Research for an Analyst Brief, our team will help you make an informed market decision to achieve market growth.

Recent Development

• In June 2023, Sanofi (France), the manufacturer of the Toujeo SoloStar Pens received approval from European Union to commercialize their product in the European region.
• In April 2020, the FDA approved Sanofi (Francenovel )'s Dupixent prefilled pen for use in managing atopic dermatitis, asthma, and chronic rhinosinusitis with nasal polyposis. The pen can be used at home for administration.
• In January 2019, Merck KGaA released Pergoveris, an injectable gonadotropin pen for reproductive therapy in Germany.

Global Pen Injectors Market Scope

The pen injectors market is segmented on the basis of type, dosage, therapy, and end user. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Disposable
• Reusable

Dosage

• Fixed
• Variable

Therapy

• Diabetes
• Anaphylaxis
• Growth Hormone Therapy
• Fertility
• Arthritis
• Osteoporosis
• Cancer
• Autoimmune Diseases
• Others

End User

• Home Care
• Hospitals & Clinics

Global Pen Injectors Market Regional Analysis/Insights

The global pen injectors market is analysed and market size insights and trends are provided by country, type, dosage, therapy and end user as referenced above.

The countries covered in the pen injectors market report are U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, rest of Asia-Pacific  , Saudi Arabia, U.A.E, South Africa, Egypt, Israel, rest of Middle East and Africa, Brazil, Argentina and rest of South America.North America is expected to dominate the Pen Injectors market because of the strong base of food testing facilities, the strong presence of major players in the market, increased cases of chronic diseases, and the rising number of research activities in this region.

Asia-Pacific is expected to witness significant growth during the forecast period of 2023 to 2030 due to the increase in government initiatives to promote awareness, growing research activities in the region, availability of massive untapped markets, a large population pool, and the growing demand for quality healthcare.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends, and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.   

Healthcare Infrastructure Growth Installed Base and New Technology Penetration

The Pen Injectors market also provides you with a detailed market analysis for every country's growth in healthcare expenditure for capital equipment, installed base of different kinds of products for the Pen Injectors market, the impact of technology using lifeline curves and changes in healthcare regulatory scenarios and their impact on the Pen Injectors market. The data is available for the historic period 2010-2020.

Competitive Landscape and Pen Injectors Market Share Analysis

The pen injectors market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width, and breadth, application dominance. The above data points provided are only related to the companies' focus related to the Pen Injectors market.

Some of the major players operating in the Pen Injectors market are:

• Novo Nordisk (Denmark)
• Medtronic (Ireland)
• BD (U.S)
• Sanofi (France)
• Eli Lilly and Company (U.S)
• Merck KGaA (Germany)
• AstraZeneca (U.K)
• F. Hoffmann-La Roche Ltd (Switzerland)
• Owen Mumford Ltd (U.K)
• Ypsomed AG (Switzerland)
• Terumo Medical Corporation (Japan)
• B. Braun (Germany)
• Sun Pharmaceutical Industries Ltd (India)

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