In this report, Research Reports Inc. studies the present scenario (with the base year being 2017) and the growth prospects of global Injection Pen market for 2018-2023.
Global Injection Pen Market to reach USD 68.0 billion by 2025.
Global Injection Pen Market valued approximately USD 33.0 billion in 2016 is anticipated to grow with a healthy growth rate of more than 9.5% over the forecast period 2018-2025. The method of inserting drugs in your body is changing day by day.
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The drug delivery industry is readily shifting from conventional methods towards the more convenient methods such as injectable pens and drug delivery pumps owing to their various benefits. The conventional disposable devices have a fixed life. However, injectable pens and drug delivery pumps have a feature of loading cartridges & needles from time to time which is different from traditional method and is resulting into higher demand from end-user industries.
The injectable pens and drug delivery pumps are also cost-effective. Further, the convenience & ease of usage of injection Pen are boosting the market demand. The biotechnology and pharmaceutical industries are adopting the modern method of inserting drugs. The major market players aim to introduce the revolutionary ways of drug delivery system which is targeted toward the end user ease such as less maintenance, higher volume, and thinner needles.
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Based on the product segment, the market is divided into disposable, reusable and others. Among these, the reusable injector segment has the largest share in the market. Companies such as Novo Nordisk A/S & Eli Lilly are the main driver of the reusable market.
Based on the application segment, the market is segmented into diabetes, anaphylaxis, osteoporosis, growth hormone deficiency, and arthritis. The diabetes segment dominated the market owing to high demand for safer insulin delivery devices provided by many companies. This segment has also witnessed tremendous growth because of the major technological advancement in the sector.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
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- Non- Insulin
- Growth hormone deficiency
- North America
- Asia Pacific
- Latin America
- Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
The industry is seeming to be fairly competitive. Some of the leading market players include Owen Mumford Ltd, Eli Lilly And Company, GlaxoSmithKline plc, Mylan N.V., Astra Zeneca, Novo Nordisk A/S, Novartis AG, Sanofi and so on. Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers. New product launches and continuous technological innovations are the key strategies adopted by the major players.
Target Audience of the Global Injection Pen Market in Market Study:
- Key Consulting Companies & Advisors
- Large, medium-sized, and small enterprises
- Venture capitalists
- Value-Added Resellers (VARs)
- Third-party knowledge providers
- Investment bankers