Rising prevalence of chronic diseases, favorable reimbursement scenario and government support, and the increasing number of regulatory approvals resulting in the increased adoption amongst patients.
The global injection pen market is expected to reach USD 41.38 Billion by 2022 from USD 30.97 Billion in 2017, at a CAGR of 6.0%.
Market Dynamics
+ Drivers
+ Growing Prevalence of Chronic Diseases
+ Increasing Number of Regulatory Approvals
+ Favorable Reimbursement and Government Support
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The global injection pen market is segmented into diabetes, growth hormone therapy, osteoporosis, fertility, and other therapies (such as multiple sclerosis, obesity, cardiovascular diseases, rheumatoid arthritis, and migraine). The diabetes segment is expected to grow at the highest CAGR during the forecast period. The high growth of this segment can be attributed to the large diabetic population across the globe and the favorable reimbursement scenario for diabetes treatments in developed countries.
The global market is categorized into homecare and hospital & clinics. The homecare segment is expected to register the highest CAGR during the forecast period due to the growing demand for self-administration drug delivery devices and the growing prevalence of chronic diseases.
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