Injection Pen Market Highlights:
The injection pen is a standard delivery device for accurate subcutaneous delivery. A number of factors such as increasing prevalence of chronic diseases, ongoing technological advancements, and improving regulatory framework are fueling the growth of the global injection pen market. According to International Diabetes Federation, in 2016, it was estimated that 420 million adult population were suffering from diabetes which is increasing at the rate of 8.4% and is expected to reach 625 million by 2040.
Key Players for Global Injection Pen Market:
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 (US), Owen Mumford (U.K.), Novartis (Switzerland), Pfizer (U.S.), Haselmeier (Switzerland), Jiangsu Delfu medical device Co. Ltd (China), and Biocon Ltd (India).
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The global injection pen market is segmented on the basis of the type, product, therapy, distribution channel, and end users. On the basis of the 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 the 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 is segmented into hospital pharmacies, retail pharmacies, online medical stores, and diabetes clinics. On the basis of end users, the global injection pen market is segmented into home care and hospitals & clinics.
Regional Analysis of Global Injection Pen Market:
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.
Major TOC Injection Pen Market Research Report – Forecast to 2023
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
5.1 Porter’s Five Forces Analysis
5.1.1 Bargaining Power Of Suppliers
5.1.2 Bargaining Power Of Buyers
5.1.3 Threat Of New Entrants
5.1.4 Threat Of Substitutes
5.1.5 Intensity Of Rivalry
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