Injection Pen Market

1. Important Facts That You Should Know About the Injection Pen Market Size & Growth | Forecast 2022, 2029 Industry Market Overview The global "injection pen market" size was valued at US$ XX million in 2020 and is estimated to reach US$ XX million by 2028, growing at a CAGR of XX % during the forecast period (2022-2029). An injector pen is a device used to administer medication through the skin. Injector pens are intended to make injectable medication more accessible and convenient to use. Download Free Sample: https://www.datamintelligence.com/download-sample/injection-pen- market Market Dynamics The factors such as increasing technological advancements are projected to increase the market growth of the global injection pen market. The increasing technological advancements are expected to increase the market growth in the forecast period Insulin pen devices have several advantages over traditional vial-and-syringe insulin delivery methods, including higher patient satisfaction and adherence, greater ease of use, superior accuracy for delivering small insulin doses, greater social acceptability, and less reported injection pain. Pens have become more user-friendly in recent years, with some models being highly intuitive to use and requiring little or no instruction. Biopharma firms face fierce competition in the majority of key therapeutic areas. One of the major advancements is the use of an injection device. Autoinjectors and bolus pump-based systems are being evaluated to determine which device best suits patient needs, can safely and effectively deliver the drug and is most likely to contribute to compliance. For instance, Bespak company offers VapourSoft technology and the Syrina autoinjector platform. The key to VapourSoft is its power source, which aids in the resolution of issues associated with spring- based autoinjectors. As the foundation for a next-generation powerpack, a small novel container of liquefied gas was developed. The propellant provides enough energy in a pressurized vapor to power drug delivery and other functions when released. On 13th November 2020, Medtronic launched the first integrated smart insulin pen for people with diabetes. The addition of Companion Medical's InPen to the Medtronic portfolio resulted in integrating real-time CGM data into the smart insulin pen app. Lack of awareness and the problems associated with its usage is expected to hamper the market growth Injection pens have various disadvantages, such as Insulin cartridges being broken or cracked, the needle not being correctly screwed onto the insulin pen. Dose unit counters are either not moving or are moving incorrectly. When the dose button is pressed, insulin is not delivered. To prevent accidental needle sticks for the end-user, current regulations require the use of a needle safety device for prefilled syringes, and several commercial systems are available. Needle shields are typically constructed of thermoplastic elastomers. Because of its portability, this system is much more susceptible to higher temperatures and disturbances. Needle sticking and bruising are one primary concern of the injection pen. COVID-19 Impact Analysis

2. The demand for medical supplies has seen a surge during COVID-19. Respiratory support devices, such as an atomizer, a life-support machine, an oxygen generator, and a monitor, are commonly used in primary clinical care. Furthermore, COVID-19 has resulted in a significant increase in demand for medical supplies such as personal protective equipment such as masks, gloves, and protective eyeglasses. As the number of COVID-19 cases worldwide rises, the demand for medical supplies among healthcare professionals and the general public for precautionary measures increases. Manufacturers of these products have an opportunity to capitalize on the increased demand for medical supplies to ensure an adequate and consistent supply of personal protective equipment in the market. Given these considerations, COVID-19 is expected to have a significant impact on the injection pen market. Segment Analysis Disposable injection pen is expected to dominate the global injection pen market Insulin pen delivery devices such as the SoloSTAR, FlexPen, and KwikPen are generally recognized as easier to use and more convenient, with improved medication adherence than standard vial-and- syringe delivery. Disposable insulin pens' usability has been studied in various patient populations, including children aged 11–15 and elderly patients aged 60. For instance, In an open-label study of 150 types 1 or type 2 diabetes patients in the United States, researchers evaluated features of the SoloSTAR, the original FlexPen, the original Eli Lilly disposable pen, and a prototype pen. Patients consistently rated SoloSTAR as the best pen for pen features, including three out of four attributes relating to design and aesthetics, and usability. Both the SoloSTAR and FlexPen devices were found to be highly user-friendly by both pen-experienced and pen-naive patients. Usability in difficult-to-treat patients, such as the elderly, children and adolescents, and visually or dexterously impaired, has been demonstrated to be consistent with the overall patient experience. On 27 September 2021, Novo Nordisk collaborated with digital diabetes device-maker Biocorp to improve the performance of its disposable insulin pens. The agreement with Biocorp calls for the reusable Mallya device to be distributed after a new version has been proven to work with Novo Nordisk's FlexTouch insulin pen. Geographical Analysis North America region accounted for the largest market share in the global injection pen market The rising prevalence of diabetes, favorable reimbursement scenarios, and increasing awareness programs are driving the NorthAmerica region injection pens market. In 2018 Diabetes affected 34.2 million people or 10.5 per cent of the US population. Diabetes had been diagnosed in an estimated 26.8 million people or 10.2 per cent of the population. Diabetes affects approximately 7.3 million people who have not yet been diagnosed. About 31% of the 30 million diabetics in the United States use insulin to manage their condition. Insulin comes in a variety of formulations, including fast-acting and slow-acting agents. Hence, with the increasing use of insulin in this region, it is estimated to drive market growth. On June 19, 2020, The U.S FDA approved a 300 mg single-dose pre-filled pen for Dupixent (dupilumab) of Regeneron Pharmaceuticals, Inc. and Sanofi. Competitive Landscape

3. The Global Injection Pen Market is highly competitive with increasing product launches, mergers, and company acquisitions. Some of the major key players in the market are Eli Lilly, Novo Nordisk, Sanofi, AstraZeneca, Ypsomed, F.Hoffman-La Roche, Becton Dickinson and Company, Novartis, Pfizer, Hindustan Syringes & Medical Devices. Why Purchase the Report? • Visualize the composition of the global injection pen market segmentation by type, by application, and end-user highlighting the key commercial assets and players. • Identify commercial opportunities in the global injection pen market by analyzing trends and co-development deals. • Excel data sheet with thousands of data points of global injection pen market-level 4/5 segmentation. • PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study. • Product mapping in excel for the key product of all major market players Target Audience •Service Providers/ Buyers •Industry Investors/Investment Bankers •Education & Research Institutes •Research Professionals •Emerging Companies •Manufacturers About Us DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year, we have secured more than 100 unique customers from established organizations all over the world. For more information: Sai Kiran Sales Manager at DataM Intelligence Email: info@datamintelligence.com