The Injection pen is very convenient for diabetic patients to carry and use, and avoids the risk of accidentally breaking the syringe when using a glass syringe to inject insulin. Anti-diabetic drugs such as insulin usually given by injection called diabetes injection pens. The amount of insulin used for accurate transmission is less painful and intrusive in the process of the diabetes injection pen market. It is very beneficial for patients who are old or visually impaired.
The global Injection Pen market anticipates the market growth at bolstering CAGR in the forecast period from 2020-2027. The increased global prevalence of diabetes expected to drive the injection pen market for diabetic patients during the forecast period. Additionally, some problems, like the amount of insulin and improper difficulties faced by elderly patients, can overcome by diabetes injection pens.
There are various advantages of using injection pens, such as self-injection operation, which is simple, convenient, and safe. It reduces the waste of medicine, and the dose is adjustable. It automatically returns to zero after the injection completed by setting the return sound. Also, with other benefits such as the scale window increases, Injection resistance is reduced, reduction in pain, improved user experience.
Moreover, the use of an injection pen not only enhances the patient’s dependence, reduces the economic burden, but also alleviates the social pressure of fewer doctors and more patients. Moreover, government support in the injection pen market has boomed its market share in the global market.
Additionally, the rapid development of technology in healthcare products coupled with rising chronic diseases such as diabetics, osteoporosis, growth hormone deficiency, and arthritis has increased the awareness among people regarding the use of an injection pen. Therefore, the prevalence of chronic diseases is capturing the market demand for the global injection pen market.
Furthermore, the rising geriatric population and an aging population are expanding the healthcare business and increasing the market of the injection pen. The treatment of injection pen is flexible, cost-effective, reduces the pain and cost for visiting the doctors have enhanced the adoption of injection pen in the global market.
Traditional methods of injection drugs such as vials and syringes replace with an injection pen, which is way more convenient than earlier. Various diseases such as rheumatoid arthritis, multiple sclerosis treatment drugs, and osteoporosis treatment drugs (such as salmon calcitonin, etc.), can be treated with injection pen at homes. Thus, it reduces the hospital’s expenses, saves time, and they are flexible to use. Therefore, technology development has improved healthcare facilities.
The flexibility of the injection pen has increased its adoption in the market, owing to the rising old age population, obesity, and other chronic diseases that have fueled the demand for the injection pen. The injection pen allows the patient to do their treatment themselves and also improves the quality of life of the patient as injection pens are disposable and reusable as well.
Based on the Type, the global Injection Pen market bifurcated into Disposable and Reusable Pens. The disposable injection pen segment has captured the largest share in the global injection pen market. The disposable injection pens are more convenient than reusable pens owing to fewer chances of infection, cost-effective, and flexible to use characteristics that are deriving the global injection market.
Additionally, the disposable injection pen with pre-filled medicine does not require the patient to switch the drug between the vial and the syringe during self-injection. The desired dose can be directly set and injected through the dose setting part, thus can make the patient out of danger faster than traditional disposable syringes and powder injection medicines. Therefore, it can help ordinary patients to master the operation steps faster and further improve the self-management of patients in the field of chronic diseases.
Based on the therapy, the global Injection Pen market classified into Diabetes (Insulin, Glucagon-Like Peptide-1), Growth Hormone Therapy, Osteoporosis, Fertility. The diabetes segment held the largest market share in the global injection pen market. Insulin is the only hormone in the body that can lower blood sugar. That is why many people get diabetes is mostly related to the damage of insulin in the body. Therefore, insulin needed for the treatment of diabetes. Diabetic people use an injection pen owing to its advantages such as it is easy to carry, has simple operation, and a pen is simple to operate. The dosage of insulin is precisely adjusted. Therefore, the market demand for injection pens is fueling due to the rising number of diabetic patients worldwide.
Based on the End-uses, the global Injection Pen market aggregated into Homecare and Hospitals. The home care segment captures largest market share of injection pens. It is mainly due to the rising awareness of injection pens through various programs initiated by the government. Also, the emerging prevalence of diabetes, other diseases, and therapies are fueling injection pen market demand. In addition to it, the features of the injection pen have increased its adoption in the global injection pens market.
Based on geography, the global Injection Pen market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America will be expecting to witness the highest growth during the forecast period from 2020-2027. North America holds largest market share of injection pens in the global market. The rising disposable income, advancement in technology, people’s awareness regarding diabetic products, and emerging geriatric population is fueling the market share of the injection pens.
Companies such as Merck KGaA, Thermo Fisher Scientific Inc., Danaher Corporation, Eppendorf AG, Sartorius AG, GEA Group Aktiengesellschaft, bbi-biotech GmbH, Esco Group of Companies, Pierre Guérin, Solaris Biotechnology Srl., PBS Biotech, Inc., ZETA GmbH, Applikon Biotechnology BV, Meissner Filtration Products, Inc., and Shanghai Bailun Biotechnology Co. Ltd among others are key players in the global Injection Pen market.