Injection Pen Market Introducing Technological Advancements in the Injection Pens by Top Competitors Pfizer, Haselmeier, Biocon, Wockhardt Ltd., Jiangsu Delfu Co., DuPon and Forecast to 2025
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Global Injection Pen Market is expected to reach USD 49.92 billion by 2025, from USD 31.25 billion in 2017, growing at a CAGR of 6.0% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
Major Market Drivers and Restraints:
• Technological advancements in the injection pens
• Product launch and approval of accessories
• Prevalence of diabetes worldwide
• Government support and better reimbursement policies
Major Market Competitors/Players: Global Injection Pen Market
Some of the major players operating in the global injection pen market are:-
• Novo Nordisk,
• ELI Lilly and Company,
• F.Hoffman-La Roche,
• Dickinson and Company (BD),
• Owen Mumford,
• Wockhardt Ltd.,
• Jiangsu Delfu Co.,
• Companion Medical,
• B. Braun Melsungen AG,
• Terumo Corporation,
• Allison Medical,
• Cambridge Sensors Ltd.,
• Montmed Inc.,
• Stat Medical Inc.,
• Companion Medical,
• Emperra GmbH.,
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Market Definition: Global Injection Pen Market
This market report defines the market trends and forecast the upcoming opportunities and threats of the injection pen market in the next 8 years. Injection pen is a small, hand held portable device used to inject insulin for the treatment of diabetes. The device is designed to deliver the drug in the body with the ease and convenience. Prevalence of diabetes is driving the market. According to American Diabetes Association (ADA), in 2015, 30.3 million or 9.4% Americans of the total population had diabetes. The ADA reports that about 1.5 million Americans are diagnosed with diabetes every year. According to WHO, the diabetes is a major cause of blindness, kidney failure, heart attacks, stroke and lower limb amputation and reports that 1.6 million deaths were directly caused by diabetes.. The increase in prevalence of diabetes raises the demands for early detection of the diabetes which leads to and the need for technological advancements in the injectable pens, for instance, in 2017 Sanofi launched AllStar pro reusable pen injector in market across Europe. The product is used by the diabetic patients. It uses replaceable cartridges, providing a convenient option for patients who inject regular doses of insulin. In 2017, Becton, Dickinson and Company launched the BD Ultra-Fine Micro 6mm needle, to provide a wide variety of needle lengths for people with diabetes. The product is designed to optimize comfort to the users. The product enables pediatric, adults and obese patients to inject into the fat layer, to avoid intramuscular (IM) injections.
Market Segmentation: Global Injection Pen Market
• The global injection pen market is segmented on the basis of type, therapy, distribution channels and end user.
• On the basis of type, the global injection pen market is segmented into disposable and reusable.
• On the basis of therapy, the global injection pen market is segmented into diabetes, growth hormone therapy, osteoporosis, fertility, and other. Diabetes is further sub segmented into insulin and glucagon-like peptide-1 (GLP-1).
• On the basis of end user the global injection pen market is segmented into home care and hospitals & clinics.
• On the basis of distribution channel the global injection pen market is segmented into retail pharmacies, hospital pharmacies, online methods and diabetes clinics & centers.
• Based on geography, the global injection pen market report covers data points for 28 countries across multiple geographies namely North America & South America, Europe, Asia-Pacific and, Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and, Brazil among others.
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