Which are the Top Industry Players in the Injection Pen Market

The injection pens market is expected to be worth $6 billion by 2030. The coronavirus pandemic is expected to drastically increase global demand for injection pens due to the multiple treatments now being used to manage the epidemic. In addition, producers are likely to capitalize on the possible use of injection pens to administer covid-19 vaccinations, which might create a highly profitable opportunity in the short run.

Injection Pens Market - Key Takeaways

Reusable injection pens are expected to remain the largest and fastest expanding sector due to high demand resulting from cost-effectiveness.
Injection pens with variable dosage application capabilities are predicted to see increased demand in the long run, with significant potential in cancer and hepatitis therapies.
Injection pens for diabetes will continue to dominate the market, with rapid expansion driven by constantly increasing patient numbers.
Asia Pacific is experiencing relatively rapid growth, headed by China and India, with government investments in the modernization of healthcare facilities for a large population base.

"In addition to the widespread prevalence of chronic ailments, developments by manufacturers such as automated needle injection, the integration of needle safety devices, electronics, and smaller dosing capabilities is estimated to boost the market in the near future," says the Fact.MR report.

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Injection Pens Market - Driving Factors

The steady replacement of traditional injectable methods such as vials and syringes for a variety of chronic diseases is a crucial driver.
Rising geographical penetration by market players, as well as the incorporation of advanced, safe medication delivery modalities, will improve long-term industry prospects.
Injection Pens Market - Constraints

Limitations in the sorts of drug formulations suitable with injection pens present a significant hurdle to market participants.
Higher cost than standard vial and syringe alternatives, with substantial concerns about drug waste.

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Anticipated Market Impact by Coronavirus Outbreak

The global coronavirus pandemic has had a significant short-term positive influence on the injection pen business. Several firms have announced preparations to increase production of prefilled pens in the event that a coronavirus vaccine is developed. The demand for injection pens for a variety of drug formulations used in covid-19 treatment, as well as other essential chronic conditions, will remain robust during the evaluation period.

However, the delay in therapies for elective health conditions, as well as restricted clinical trials for remedies to a variety of ailments, have limited the breadth of use to some extent. Uncertainty about the pandemic's duration and severity persists during this time.

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Competition Landscape

Leading manufacturers in the injection pens market include but are not limited to AstraZeneca, F.Hoffman-LaRoche, BD, Novo Nordisk, Haselmeier, Gerresheimer AG, Merck Group, owen Mumford, Sanofi, and Eli Lilly and Company.

Top injection pen manufacturers are increasingly investing in expanding their product portfolios in a competitive industry, with new offers that meet regulatory standards.

For example, Theratechnologies Inc. has disclosed its plans to create a multi-dose injection pen using the company's tesamorelin F8 formulation for the treatment of non-alcoholic steatohepatitis. Haselmeier has revealed its D-Flex line of disposable injection pen systems for subcutaneous self-administration. Teva UK has also released a new prefilled injectable pen for self-treatment of migraines.

More on the Report

The FACT.MR's market research report provides in-depth insights on injection pens market. The market is scrutinized according to type (reusable and disposable), indication (diabetes, growth hormone therapy, autoimmune, and others), and distribution channel (hospital pharmacies, retail pharmacies, and online pharmacies) across five key regions (North America, Latin America, Europe, Asia Pacific, and Middle East and Africa).

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