Apr 21, 2021 (Market Insight Reports) -- Global Injection Pen Market - Insights
Injection pens are ready-to-administer, prefilled medical devices that offer easy delivery of drugs or biostimulants. Injection pens are used for self-administration of preserved multi-dose drug formulations requiring weight-based dosing. These pens are available in two variants: reusable and disposable injection pens.
Global Injection Pen Market: Drivers
Recent advancements in injection pens such as the use of needle safety devices, automated needle insertion and injection, smaller dosing capabilities, and electronics is expected to boost growth of the global injection pen market over the forecast period. Moreover, high incidence of chronic diseases is expected to propel growth of the market. For instance, according to the American Diabetes Association, in 2015, 9.4 % of the people in the U.S. suffered from diabetes while 1.5 million people were diagnosed with diabetes, annually.
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Global Injection Pen Market: Restraints
Availability of alternative drug delivery modes and poor reimbursement scenario in emerging economies is expected to hinder growth of the global injection pen market.
Global Injection Pen Market: Regional Analysis
North America is expected to account for the largest market share in the global injection pen market over the forecast period, whereas Asia Pacific is expected to be the fastest growing market.
Global Injection Pen Market - Competitive Landscape
Major players operating in the global injection pen market include, Novo Nordisk, Sanofi, ELI Lilly and Company, Merck & co., Inc., Ypsomed Holding AG, Biocorp Production SA, AstraZeneca PLC, F. Hoffman-La Roche Ltd., Becton, Dickinson and Company (BD), Owen Mumford Ltd., Novartis, Pfizer, and Wilhelm Haselmeier GmbH & Co. KG.
Global Injection Pen Market - Key Developments
Major players in the market are focused on launching new products to expand their product portfolio. For instance, in 2015, Biocorp launched Datapen and Easylog - two internet connected devices that offer features such as dose setup setting, Oled display, audio and visual signals to guide patients, and real time transfer of treatment information to storage platform and mobile app.
Major players in the market are also focused on adopting collaboration strategies to expand their product portfolio. For instance, in February 2018, Antares Pharma announced the successful regulatory outcome of the Makena subcutaneous auto injector collaboration with AMAG Pharmaceuticals. Makena (hydroxyprogesterone caproate injection) subcutaneous auto injector drug-device combination product is designed as a ready-to-administer treatment to reduce the risk of preterm birth in women who are pregnant with one baby and who spontaneously delivered one preterm baby in the past.
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Injection Pen Market Injection Pen – Market Taxonomy
On the basis of product type, the global injection pen market is segmented into:
Disposable Injection Pen
Reusable Injection Pen
On the basis of therapy, the global injection pen market is segmented into: