Injection Pen Market - Global Industry Analysis

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Injection pens are specially designed injection used to inject a small amount of hormone or drugs into the patient body for the treatment of various diseases. As compared to conventional injections, injection pens are easy to use and are portable. The small needle has also decreased the amount of pain which have provided larger social acceptability among people. Injection pens are easy to use and provide accuracy with regards to the quantity of injectable, especially for diabetes patient. Injection pens are mostly used by diabetes patient for injecting insulin. Its ergonomic designs have also increased its usage and popularity among people. 

One of the major factors driving the growth of the injection pen market over the forecast period is the increased prevalence of chronic diseases such as diabetes, rheumatoid arthritis, and others. As per the America Diabetes Association 2015 report, there were around 30.3 million people in America who were suffering from diabetes that is almost 9.4% of the American population. Increased use of home health care has also increased the demand for easy instruments for the administration of drugs on a daily basis, thus increasing the popularity of injection pen market. Moreover, major players involved in the injection pen market are constantly working for various technological developments which are also expected to increase the demand of the injection pen market over the forecast period. However, alternative modes of drug delivery and poor reimbursement policies in the developing countries are expected to hamper the growth of the injection pen market.

The injection pen market is segmented into type, therapy, and end user. Based on the type, the injection pen market is classified into disposable and reusable pens. Disposable injection pen segment is expected to grow significantly. Based on therapy, the injection pen market is segmented into growth hormone therapy, osteoporosis, fertility, diabetes, and other therapies. Since the injection pens are widely used in diabetes, this segment is expected to experience a rapid growth. Based on the end user, the injection pen market is fragmented into home care and hospitals. Home care segment is expected to dominate over the forecast period.

Injection pen market is regionally segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is expected to dominate the injection pen market over the forecast period which is closely followed by Europe. The Asia Pacific is expected to grow significantly due to the presence of developing economies. Latin America and the Middle East & Africa are expected to grow at a considerable rate over the forecast period.

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