Injection Pen Market Benefit and Volume 2019 with Status and Prospect to 2026
Posted by psaraf on July 15th, 2019
Injection pen has typically been used for frequent self-administration of preserved multi-dose drug formulations requiring weight-based dosing. It is available in two variants; reusable and disposable injection pens. Injection pens are ready to administer, as a prefilled medical device ease the delivery of drug or biostimulant for patients, care givers, and healthcare provider. Recent developments in injection pen devices such as the use of needle safety devices, automated needle insertion and injection, smaller dosing capabilities, and electronics is expected to drive the market in addition to the prevalence of the chronic disease. Furthermore, easy reimbursement and increasing FDA approval will strengthen injection pen market, whereas preference for alternative drug delivery modes and poor reimbursement scenarios in emerging economies will hinder growth of injection pen market.
Injection Pen Market Drivers
Improving the convenience and ease of administration of parenteral therapeutics has become a common strategy adopted by biotechnology and pharmaceutical industries and is expected to drive growth of injection pen market. Key players aim to introduce novel drug delivery system by targeting end-user flexibility such as fewer handling steps, higher volumes, thinner needles, high viscous formulations, and novel primary containers to accommodate changing injection pen market trends.
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For instance, in 2015, Antares Pharma launched Makena subcutaneous auto injector in collaboration with AMAG Pharmaceuticals. This collaboration clubs hydroxyprogesterone caproate injection of Antares Pharma that is used to reduce the risk of preterm birth in women pregnant with a single baby who has a history of singleton spontaneous preterm birth, with QuickShot auto-injector of AMAG Pharmaceuticals to allow rapid subcutaneous self-administration of highly viscous drugs in oil such as testosterone or progesterone and biologics using high spring pressure through a fine gauge needle.
The prevalence of chronic diseases is increasing due to rapid aging of the population and the greater longevity of people with chronic conditions such as diabetes, multiple sclerosis (MS), rheumatoid arthritis (RA), hepatitis, osteoporosis, hemophilia, reproductive health, anemia, hemolytic disease, and anti-thrombolytic therapy. Injection pen market was predominant in diabetes therapy and growth hormone therapy for the past 20 years and 10 years respectively due to disease prevalence. According to the American Diabetes Association, in 2015, 9.4 % of the people in the U.S. suffered from diabetes while 1.5 million people were diagnosed with diabetes every year. This suggests predominance of injection pen market for diabetes therapy. Moreover, recent advancements widens application of injection pen for reproductive health, osteoporosis, and hepatitis.
Furthermore, manufacturers of injection pens are focusing on device advancements or company pipeline to meet the requirements of next-generation molecules and anticipated end-user needs. For instance, Biocorp launched Datapen and Easylog, two internet connected devices in 2015. Additional features of Datapen and Easylog device includes dose setup setting, Oled display, audio as well as visual signals to guide patients, and real time transfer of treatment information to storage platform and mobile app. Furthermore, increasing pipeline product will lead to expansion of therapeutic options for medical practitioners as well as for patients, thereby propelling growth of injection pen market.
Injection Pen Market – Regional Analysis
On the basis of region, the global injection pen market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America holds dominant position in the global injection pen market, owing to increasing product advancements by the key players in the region, whereas Asia Pacific is expected to be the fastest growing market over the forecast period due to increasing population size and increasing development of healthcare amenities.
Injection Pen Market – Competitor Analysis
The injection pen market is mainly led by 3 companies: Novo Nordisk, Sanofi, and ELI Lilly and Company. Other major players in the injection pen market include Merck & co., Inc., Ypsomed holding AG, Biocorp Production SA, AstraZeneca PLC, F.Hoffman-La Roche Ltd, Becton, Dickinson and Company (BD), Owen Mumford Ltd, Novartis, Pfizer, and Wilhelm Haselmeier GmbH & Co. KG.
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