(PharmaNewsWire.Com, October 28, 2019 ) According to the new market research report "Injection Pen Market by Type (Disposable and Reusable Pens), Therapy (Diabetes (Insulin, Glucagon-Like Peptide-1), Growth Hormone Therapy, Osteoporosis, Fertility), End User (Homecare and Hospitals), and Region - Global Forecast to 2022", published by MarketsandMarkets™, analyzes and studies the major market drivers, restraints/challenges, and opportunities in North America, Europe, Asia-Pacific, and the Rest of the world (RoW).
The growth of this market is primarily driven by factors such as the growing prevalence of chronic diseases, increasing number of regulatory approvals, and favorable reimbursement in developed countries, and government support.
The market is segmented on the basis of type, therapy, end user, and region. Based on type, the market is segmented into disposable and reusable injection pens. The disposable injection pens segment is expected to grow at the highest CAGR during the forecast period. The high growth of this segment can be attributed to the benefits disposable pens offer, such as portability, ease of use, and low possibility of infection.
The home care segment dominated the market on the basis of end users in 2017
The injection pen market is segmented on the basis of end users into home care and hospital & clinics. In 2017, homecare segment accounted for the largest share of the global market. Majority of injection pens are used for self-administration of drugs, and are rarely recommended for hospital use to avoid the risk of infection due to use on multiple patients. Factors such as the growing prevalence of chronic diseases and technological advancements are driving the growth of this segment.
North America held the largest share of the market in 2017
In 2017, North America accounted for the largest share of the injection pen market, followed by Europe. Factors such as increasing geriatric population in Canada, increasing FDA approvals, and rising prevalence of chronic diseases in the US and Canada are contributing to the large share of this geographical segment.
Key Players The key players in the global injection pen market are Novo Nordisk (Denmark), Eli Lilly (US), Sanofi (France), Ypsomed (Switzerland), Merck (Germany), AstraZeneca (UK), F. Hoffman-la Roche (Switzerland), Becton, Dickinson and Company (US), Owen Mumford (UK), Novartis (Switzerland), Pfizer (US), and Haselmeier (Switzerland).
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