ALBANY, NY, May 10, 2021 / PRNewswire / – Injection pens have become the standard for self-administered insulin therapy for type 1 and type 2 diabetes. The trend has been a major driver in the development of the global injection pen market. Ease of use, patient-friendliness, safety in dosage regulation, among others, are some of the key anchors for the broad preference among patients and physicians. Advances in all key design elements have resulted in access to injection pens with remarkable device functionality and ease of use not only for insulin delivery but also for a number of other drugs. Thus, in the injection pen market, there have been a variety of injection pens for parenteral administration of MAb formulations, hormones, peptides and proteins to meet the needs of patients with rheumatoid arthritis, autoimmune diseases and obesity.
Delivery device technologies have come a long way and broadened the horizon for revenue generation. With a moderate CAGR in the forecast period 2020-2030, the market for injection pens should touch the valuation of $ 6 billion until the end of the reporting period
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Key results of the market study for injection pens
- Successful Insulin Pen Injection Delivery A key issue in diabetes care
Injection pens have gained a notable preference over manual vials and syringes in patients requiring routine intramuscular and subcutaneous injections. Their use in insulin delivery is widespread in diabetes for proper metabolic control. Industry players involved in the Insulin Pen market are increasingly benefiting from the increasing adoption of self-administered insulin therapy practices to improve the standard of care. Patients’ attitudes towards the use of insulin pens for various other chronic diseases have improved significantly along with continued advances in the techniques used. Associated with governments in Europe and the UK have supported the introduction of in-home devices for the treatment of chronic diseases, with parenteral drug delivery being the cornerstone.
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- Global health emergencies due to diabetes propulsion steps
Diabetes mellitus is considered a global health emergency of the current century with a high prevalence among older adults. Much of this has to do with deadly medical problems that diabetics are prone to due to the high risk of infection. According to a finding published in an article in the NCBI, the proportion of the population with diabetes mellitus is projected to increase by 54% in the US alone from 2015 to 2030. Therefore, there is an increasing need for updates to diabetes therapy management practices in developed and developing countries to address morbidity. The focus is expected to drive research and development in the injection pen market.
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- Manufacturers strive for multiple design elements for innovation
Over the years, injection pen design improvements have included needle and bevel design, patient choice of needle length, and a number of issues that come under needle-tissue interactions. Medical companies’ relentless focus on improving the usability, accuracy and consistency of products has shaped the product development pathways.
Injection Pen Market: Key Factors and Ways
- Growing awareness of the benefits of insulin pens in diabetes management in developing countries is fueling demand
- The high prevalence of diabetes mellitus is a major growth driver
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Injection Pen Market: Key Players
Medical device manufacturers and leading pharmaceutical companies operating in the injection pen market rely on comprehensive evaluations of all key design parameters. They were interested in meeting the various regulatory parameters in order to speed up the approvals. Various stakeholders have benefited from the growing awareness of the safety and effectiveness of their products.
Some of the players who are well anchored in the injection pen market are Becton, Dickinson and Company, AstraZeneca, Haselmeier, Owen Mumford, Sanofi, F. Hoffman-La Roche, and Eli Lilly Company.
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