High Prevalence of Diabetes and Increasing Funding for R&D to Augment Growth of Injection Pen Market

 

Injection Pen Market

High prevalence of diabetes is expected to propel growth of the injection pen market. For instance, according to the study, “Global and regional diabetes prevalence estimates for 2019 and projections for 2030 and 2045: Results from the International Diabetes Federation Diabetes Atlas, 9th edition”, published in the journal Diabetes Research and Clinical Practice, in September 2019, 463 million people are expected to suffer from diabetes in 2019 worldwide and the number is expected to reach 578 million by 2030 and 700 million by 2045.

Increasing funding for R&D is expected to offer lucrative growth opportunities for players in the injection pen market. For instance, in September 2019, Emergent BioSolutions Inc., a specialty biopharmaceutical company, received around US$ 20 million to develop and manufacture an auto-injector containing diazepam (5 mg/mL) for the treatment of nerve agent-induced seizures.  Moreover, integration of Continuous Glucose Monitor (CGM) data with insulin pen data is also expected to aid in growth of the market. For instance, in June 2019, Companion Medical, Inc., a company focused in R&D of solutions for diabetes management, collaborated with DexCom, Inc., company that develops, manufactures, and distributes continuous glucose monitoring systems for diabetes management, to enable a direct exchange of CGM data from Dexcom with insulin data from InPen into both companies’ software applications.

The injection pen market is witnessing launch of generic products. For instance, in August 2019, Teva Pharmaceutical Industries Ltd. launched generic version of Mylan’s EpiPen for young children. The market is also witnessing adoption of connected devices for insulin pens. For instance, in December 2019, BIOCORP, a medical devices and smart drug delivery systems developer based in France, partnered with SANOFI for the use of Mallya technology, a connected device for insulin pens.

Competitive Analysis

Major players operating in the injection pen market include, Novo Nordisk, Sanofi, Eli Lilly and Company, Merck & co., Inc., Ypsomed Holding AG, Mylan, Biocorp Production SA, AstraZeneca PLC, F. Hoffman-La Roche Ltd., Becton, Dickinson and Company (BD), Owen Mumford Ltd, Novartis AG, Pfizer, Inc., and Wilhelm Haselmeier GmbH & Co. KG.

Major players operating in the injection pen market are focused on approval and launch of new products to expand their product portfolio. For instance, in October 2019, Becton, Dickinson and Company launched the BD Intevia 1mL two-step disposable auto-injector.

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