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Injection Pen Market by Product Type (Disposable, Reusable Pens)

Healthcare Jul 8, 2021 at 16:19

Injection Pen Market by Product Type (Disposable, Reusable Pens)

Therapy (Diabetes (Insulin, GLP-1), Growth Hormone, Osteoporosis, Fertility, Autoimmune disease, Cancer), End User (Hospitals, Clinics, Home Care), and Region – Global Forecast to 2026

The global injection pens market is projected to reach USD 53.3 billion by 2026 from USD 37.6 billion in 2021, at a CAGR of 7.2% during the forecast period. Growing prevalence of chronic diseases, increasing number of regulatory approvals, favourable reimbursement and government support, and technological advancements in injection pens tend to drive the market. Though the market is growing, but factors like alternative drug delivery modes, poor reimbursement scenarios in developing regions, and needle anxiety tend to restrain the market growth. Whereas, needle-stick injuries & misuse of injection pens tend to pose a challenge for the market. But, the opportunities for the market lie in the patent expiry of biologics and emerging markets.

COVID-19 Impact on Injection Pens Market

Diabetes has been directly associated with severity and death in patients with COVID-19. This fact finds evidence in the increased morbidity and mortality suggested being linked to inflammation, hypercoagulation, and impaired immunity processes. Hypoglycemia and hyperglycemia are both predictors for adverse outcomes in hospitalized patients. Optimized glycemic control should be pursued in patients with diabetes and SARS-CoV-2 infection to reduce the risk of severe COVID-19. Both insulin and GLP-1RAs have shown optimal glucose-lowering and anti-inflammatory effects in type 2 diabetic patients and may represent a valid therapeutic option to treat asymptomatic and non-critically ill COVID-19 diabetic patients. Customized therapies for diabetes treatment have become necessary for rigorous glucose monitoring and insulin or anti-diabetic drug dose adjustments. The adoption of insulin pens, insulin pumps, and continuous glucose monitoring devices has increased for close monitoring and optimal management of diabetes. Injection pens are used in great quantities in diabetes management. So these would naturally be impacted by any change in overall product and service demand.

The COVID-19 pandemic did not have a significant impact on the injection pens market. Patients already using injection pens for various therapies continued to use the same during the pandemic. However, the supply chain for injection pens was disrupted due to mobility restrictions, closed borders, and a decline in overall trade. COVID-19-infected patients who received treatment are at a higher risk of becoming diabetic. Hence, growth in the incidence of diabetes will increase the demand for injection pens.

Driver: Growing prevalence of chronic diseases

The prevalence of chronic diseases has increased significantly in the last few years. Diseases such as diabetes, osteoporosis, cardiovascular disease (CVD), and multiple sclerosis require daily or weekly injectable drug administration. Injector pens are an optimum option for chronic diseases as the frequency of drug administration is high. Injection pens have become the new standard for injectable drug delivery systems. Their popularity has soared due to their simplicity, reliability, and ability to be administered directly by the patient without the aid of a physician. Thus, the growing prevalence of chronic diseases has led to a greater focus on injection pen technologies to effectively handle the growing patient pool and increase patient compliance with therapies. Mentioned below are some key statistics pertaining to the prevalence of chronic diseases.

Restraint: Preference for alternative drug delivery modes

There are many alternatives to injection pen devices. The main restraining factors for injection pens are needle stick anxiety and injury. Hence, there are various needle-free devices that come with an added advantage—they do not induce needle anxiety, which is a significant deterrent to the greater adoption of injectable drug treatments. Non-complacence among children as well as adults is mostly attributed to the pain associated with daily injections and the requirements of long-term therapy. Additionally, insulin pen therapy is seen to cause hyperglycemia in some patients, as the dose cannot be regulated. Hence, in Europe, there has been a shift in diabetes treatment, from insulin pens to insulin pumps, due to their ability to perform automated insulin suspension and decrease the risk of hypoglycemia. In developing countries such as India, China, and Brazil, oral insulin delivery is preferred as it is easy to use, convenient, cost-effective, safe, and acceptable.

Opportunity: Patent expiry of biologics to drive the demand for biosimilars

Biosimilars were introduced in 2006 by many pharmaceutical companies such as Sandoz (Germany), Teva Pharmaceutical Industries Ltd. (Israel), and JCR Pharmaceuticals Co., Ltd. (Japan). Due to their lower costs (as compared to their patented counterparts), the demand for biosimilars has increased significantly. The impending patent expiry of many biologic molecules will also serve to drive the demand for biosimilars. Insurance companies and governments are favoring the use of biosimilars and generics. For instance, CVS Caremark, one of the major prescription insurers in the US, has replaced branded injectable drugs such as Lantus by Sanofi and EpiPen by Mylan with their biosimilars Basaglar (available in injection pen) by Eli Lilly and Adrenaclick (an autoinjector) by Amedra Pharmaceuticals. Since many injectables for the treatment of chronic diseases are biologics, the expiry of patents and growing support from governments and insurance providers provide an opportunity for the growth of the injection pens market.

Challenge: Needle-stick injuries and misuse of injection pens

The lack of proper training and education for the use of new delivery devices such as injection pens leads to improper use and may threaten the safety of the staff and patients. Such practices may affect the adoption of injection pens in a hospital setting. For example, the National Reporting and Learning System (NRLS, UK) reported about 56 incidents associated with withdrawing insulin from insulin pens or refill cartridges between January 2013 and June 2019. In addition, the strength of insulin in the injection pen varies; thus, this poses the risk of overdose if the dose strength is not taken into consideration. The reuse of insulin pens is another concern. According to the Institute for Safe Medication Practices (ISMP) (US), during 2013–2014, ~700 patients in New York may have been exposed to blood-borne pathogens due to the use of insulin pens on multiple patients. The ISMP’s National Medication Errors Reporting Program (MERP) also reported cases where patients forgot to remove the inner cover of a standard insulin pen needle, which resulted in no insulin being delivered. Also, the FDA has reported patients using standard pen needles without removing the inner needle cover. This has resulted in hyperglycemia in patients because the inner needle cover stopped them from getting insulin.