Manufacturers in the injection pen market are adopting developmental strategies such as partnerships, collaborations, product launches, approvals, and mergers and acquisitions to sustain the competitive environment in the market. The companies are also undertaking the partnerships to strengthen their presence in the market.
Eli Lilly and Company and Novo Nordisk –are Notable Market Players in Injection Pen Market
For instance, in May 2021, Lilly collaborated internationally with leading diabetes technology companies to integrate connected insulin pen solutions for people with diabetes. The company has signed strategic international agreements with four companies – DexCom, Inc., Glooko Inc., myDiabby Healthcare and Roche – to advance connected solutions and streamline care for people living with diabetes and in Sep 2021, BIOCORP and Novo Nordisk Strengthen their partnership with a new agreement on Mallya® Smart Sensor with Novo Nordisk FlexTouch® insulin pens. A smart sensor called Mallya attaches directly to Novo Nordisk FlexTouch® insulin pens. With Mallya, patients using FlexTouch® pens will be able to capture and record daily insulin injection data, including the number of insulin units, the date, and the time. Based on the agreement, Novo Nordisk will be commercializing Mallya in Japan from the first half of 2023.
The medical equipment manufacturers across the world are scaling up the production of their devices. Their involvement in various business developments and product innovations helps ensure the easy availability of the products in the global markets. Moreover, the regulatory agencies are providing the required support through timely product approvals and permissions. For instance, in May 2022, Owen Mumford and Stevanato Group signed agreement for Aidaptus auto-injector. With the deal, Stevanato Group becomes an exclusive manufacturing partner for the auto-injector.
The Injection Pen market majorly consists of the players such as companies such as Eli Lilly and Co, Novo Nordisk AS, Owen Mumford Ltd, Sanofi SA, Merck KGaA, Haselmeier GmbH, Gerresheimer AG, Becton Dickinson and Co, AstraZeneca Plc, and Teva Pharmaceutical Industries Ltd. Incorporated amongst others. The companies have been implementing various strategies that have helped the growth of the company and in turn have brought about various changes in the market. The companies have utilized organic strategies such as launches, expansion, and product approvals. Whereas, the inorganic strategies such as mergers & acquisitions, partnership, collaborations, were widely seen in the Injection Pen market.
Several in organic approaches, such as product launches, and expansion in the Injection Pen market, have resulted in the positive growth of the market. Likewise, inorganic strategies such as mergers & acquisitions, and collaboration have help the company to strengthen its revenue, which allows the company to hold a strong position in the market.
Below is the list of the growth strategies done by the players operating in the Injection Pen market:
| Year | News |
| May-2022 | Owen Mumford and Stevanato Group signed agreement for Aidaptus auto-injector. With the deal, Stevanato Group becomes an exclusive manufacturing partner for the auto-injector |
| Sep-2021 | BIOCORP and Novo Nordisk Strengthen Their Partnership With a New Agreement on Mallya® Smart Sensor with Novo Nordisk FlexTouch® insulin pens. A smart sensor called Mallya attaches directly to Novo Nordisk FlexTouch® insulin pens. With Mallya, patients using FlexTouch® pens will be able to capture and record daily insulin injection data, including the number of insulin units, the date, and the time. Based on the agreement, Novo Nordisk will be commercializing Mallya in Japan from the first half of 2023 |
| Nov-2021 | A new partnership between Sanofi and Roche will see the companies work together in France to increase the adoption of a connected add-on for disposable insulin pens. The partners will jointly develop a scientific educational program aimed at physicians and pharmacists. |
