Injection Pen Market: Global Opportunity Analysis and Industry Forecast, 2022-2029 Market

Injection pen market is expected to witness growth in upcoming years due to factors such as rise in prevalence of diseases such as diabetes and arthritis. Increase in prevalence of chronic diseases and rise in reimbursement policies is expected to increase the growth for the market.

Injection pens are used for inserting the medicine into the human body. They are used for injecting the insulin into the patient. With the help of injection pens patients can cohere to the treatment regimen. This technique has helped in improving the patient’s quality of life and reduction in the healthcare expenditure. Injection pen technique is used for diabetes and multiple sclerosis is a self-management treatment option which is widely employed by leading pharmaceutical industries as a drug delivery system. Injection pen consists a medical cartridge (insulin cartridge), a disposable pen, needle and a dial for measuring the dosage.

COVID-19 scenario analysis:

To take care of infected population the demand for medical supplies is increasing. Respiratory support devices such as atomizer, life-support machine, oxygen generator, and monitor are among the majorly used medical devices in primary clinical treatment. Moreover, COVID-19 has led to a huge surge in demand for medical supplies such as personal protective equipment including masks, gloves, and protective eyeglasses. With rise in number of COVID-19 cases worldwide, the need for medical supplies keeps on rising among, both from healthcare professionals and civil population for precautionary measures. Manufacturers of these products have a chance to capitalize this increased demand of medical supplies to ensure adequate and continuous supply of personal protective equipment in the market. Considering these factors, COVID -19 is expected to have significant impact on Injection Pen Market.

Top Impacting factors:

• Factors such as increase in incidence of diabetes and growth in prevalence of chronic diseases is expected to boost the growth for the injection pen market.
• Increase in awareness about several types of treatment options, favorable regulatory policies and support of the government in approval of the product are some of the factors responsible for the injection pen market growth.
• However, high cost associated with the injection pens and rise in preference for other modes of treatment due to syringe fear is expected to hinder the growth of market up to some extent.
• Lack of awareness regarding usage of pens and unfavorable policies for reimbursement can hamper the growth for injection pen market over the forecast period.

New Product Launch / News:

• In January 2019, BD (Becton, Dickinson and Company), a leading global medical technology company, announced the U.S. Food and Drug Administration 510(k) clearance of its second generation BD Nano pen needle, designed for more reliable subcutaneous injection depth.
• In May 2018, Hindustan Syringes & Medical Devices (HMD) one of the largest manufacturers of Disposable Syringes in the World and the largest for Auto Disable syringes launched most revolutionary and pioneering, India’s First “Made in India” Dispovan Insulin Pen Needle” to provide better comfort for people with diabetes at the 4th Medical Expo Indore 2018.
• In 2018, AbbVie GK announced the launch of autoinjection delivery system for HUMIRA. HUMIRA is a fully human anti-TNF-α monoclonal antibody formulation.

Key benefits of the report:

• This study presents the analytical depiction of the Injection Pen Market along with the current trends and future estimations to determine the investments.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the injection pen market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the injection pen market.
• The report provides a detailed injection pen market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the Injection Pen Market Report:

• What are the leading market players active in Injection Pen Market?
• What the current trends will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the Injection Pen Market?
• What are the projections for the future that would help in taking further strategic steps?
• What Segments and region will drive the Injection Pen Market growth & why?

 Injection Pen Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights