Injection Pen Market – Overview
The global injection pen market is expected to gain prominence over the forecast period (2018–2023). It is estimated that the global injection pen market is expected to register at a CAGR ~ 6.5 % during the forecast period of 2018–2023.
Injection pens are designed to deliver the drug in the body with ease and convenience. It is a small, hand-held portable device used to inject drug for the treatment of various diseases. The increasing occurrences of chronic diseases such as diabetes and osteoporosis globally are expected to drive the global injection pen market during the forecast period. For instance, in 2015, according to the American Diabetes Association, 30.3 million people in the U.S. had diabetes which is 9.4% of the total population. Moreover, the growing preference of injection pens over the traditional vial and syringe method owing to the increasing cases of needlestick injuries is likely to contribute to the market growth.
Despite the drivers, factors such as reimbursement issues in developing countries and preference of alternative drug delivery modes are restraining the growth of the global injection pen market.
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Injection Pen Market – Top Players
- Novo Nordisk (Denmark)
- Eli Lilly (U.S.)
- Sanofi (France)
- Merck (U.S.)
- Ypsomed (Switzerland)
- AstraZeneca (U.K.)
- F.Hoffman-La Roche (Switzerland)
- Becton Dickinson and Company (U.S.)
- Owen Mumford (U.K.)
- Novartis (Switzerland)
- Pfizer (U.S.)
- Haselmeier (Switzerland)
- Jiangsu Delfu medical device Co. Ltd (China)
- Biocon Ltd (India)
- Injection pen manufacturing companies
- Original equipment manufacturing companies
- Suppliers and distributors of injection pen
- Healthcare service providers
- Teaching hospitals and academic medical centers
- Health insurance players
- Government bodies/municipal corporations
- Regulatory bodies
- Medical research institutes
Global Injection Pen Market – Regional Analysis;
The Americas is likely to dominate the global injection pen market owing to the increasing prevalence of diabetes and cancer, increasing number of approvals, and subsequent launches of new products during the forecast period. For instance, as per the National Diabetes Statistics Report 2014, 29.1 million people, i.e., 9.3% of the America population had diabetes. Furthermore, continuous development of advanced injection pens by manufacturers in the region contributes to the market growth.
Europe is likely to hold the second position in the global injection pen market. It is expected that the well-developed healthcare sector and increasing prevalence of chronic diseases in this region are likely to drive the market. Additionally, according to WHO, there are 3.7 million cases of cancer in Europe every year. Furthermore, favorable government policies for research have attracted many of the prominent market players.
Asia Pacific is the fastest growing region in the market owing to the huge patient population with chronic diseases. According to WHO, 60% of the world’s diabetic population lives in Asia Pacific. This is the major factor responsible for the fastest growth of the injection pen market in this region. Additionally, according to a study published in the Asian Pacific Journal of Tropical Biomedicine Journal in 2014, it was estimated that about 150 million diabetic patients reside within the region, out of which more than 95% have type 2 diabetes mellitus. Furthermore, rapid developments in the economies and increasing healthcare expenditure have fueled the growth of the market.
The Middle East and Africa accounts for the lowest market share in the global injection pen market. However, some prominent key players are investing in the Middle Eastern region which is likely to contribute to the growth of the market during the forecast period. For instance, in September 2015, Novo Nordisk invested 7.8 million USD for building manufacturing plants in Iran for the production of FlexPen Prefilled insulin device.
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Global Injection Pen Market – Segmentation:
The global injection pen market is segmented on the basis of type, product, therapy, distribution channel, and end-user.
On the basis of type, the market is classified into disposable injection pens and reusable injection pens.
The global injection pen market on the basis of product is segmented into insulin pens and pen needles.
On the basis of therapy, the market is segmented as diabetes, growth hormone therapy, fertility, osteoporosis, multiple sclerosis, cardiovascular diseases, rheumatoid arthritis, obesity, Crohn’s disease, cancer, and others. Diabetes is further segmented into insulin and GLP-1.
On the basis of distribution channel, the market is segmented into hospital pharmacies, retail pharmacies, online medical stores, and diabetes clinics.
On the basis of end-user, the global injection pen market is segmented into home care and hospitals and clinics.
Geographically, the market has been segmented into America, Europe, Asia Pacific, and the Middle East and Africa. The American injection pen market is further segmented into North America and South America. North America is further classified as the U.S. and Canada.
The Europe injection pen market is segmented into Western Europe and Eastern Europe. Western Europe is further classified as Germany, France, the U.K., Italy, Spain, and the rest of Western Europe.
The Asia Pacific injection pen market is segmented into Japan, China, India, Republic of Korea, Australia, and the rest of Asia Pacific.
The Middle Eastern and African injection pen market is segmented into the Middle East and Africa.
Major TOC of Injection Pen Market Research Report- Global Forecast till 2023
2 Research Methodology
3 Market Dynamics
4 Market Factor Analysis
5 Global Injection Pen Market, By Product
7 Global Injection Pen Market, By Technology
8 Global Injection Pen Market, By Application
9 Global Injection Pen Market, By Region
10 Competitive Landscape
11 Company Profile
12 MRFR Conclusion
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