Market Trends of Injection Pen Industry
The Disposable Segment is Expected to Dominate the Injection Pen Market During the Forecast Period
Disposable injection pens come pre-filled with medication, eliminating the need for manual filling from vials. This property of the pens saves time and effort, especially for individuals who require frequent injections. With a disposable pen, there is no need to carry additional vials of medication or worry about measuring the correct dose, making it more convenient for everyday use. Disposable injection pens are designed to be user-friendly, even for individuals with limited dexterity or visual impairments. They typically have clear and intuitive instructions, making it easier for users to understand the dosage settings and injection process.
Moreover, the pre-filled cartridges also ensure accurate dosing, reducing the risk of errors in medication administration. Since disposable pens come pre-filled, there is no need for repeated needle use or medication transfer between vials. This also reduces the risk of contamination and infection, as there are fewer chances for air or external particles to enter the pen during the injection process.
In addition, disposable injection pens are more affordable to produce compared to similar drug delivery devices. For instance, in February 2023, Koninklijke Philips NV, in collaboration with Medisize, a subsidiary of the Molex Company, announced the introduction of a disposable injection pen, which is more affordable to produce and delivers novel and generic drugs for the treatment of diabetes, fertility issues, etc. Thus, all the aforementioned factors, such as product launches and the ease-of-use feature of disposable injection pens, are expected to boost the market growth.
North America is Expected to Dominate the Injection Pen Market
In North America, the recent developments highlight the ongoing efforts of major players and organizations to enhance their platforms, provide more personalized care, and contribute to the overall growth of the market. As a hub for technological innovation, the region witnessed tremendous advancements in drug delivery devices. For instance, in January 2023, the FDA approved Biocorp鈥檚 Mallya, a smart injection pen, to deliver insulin and keep track of the dose and time of injection through a smartphone connection. Currently, more than 10% of the US population is diagnosed with diabetes.
Moreover, the growing awareness of injection pens in North America has significantly contributed to their rapid adoption across various disease indications. Individuals are seeking accessible, technology-driven drug delivery solutions, driving the market's growth. Players are trying to launch innovative products to treat different disease indications in the United States. In February 2023, the Tezspire injection pen, by AstraZeneca and Amgen, received FDA approval to treat severe asthma in the US population.
In conclusion, key product launches and the presence of market players in the United States are some of the factors driving the growth of the injection pen market in the country. Therefore, owing to the factors mentioned above, the market studied is anticipated to flourish in North America.
