The global injection pen market is projected to reach USD 41.38 billion by 2022 from an estimated USD 30.97 billion in 2017 at a CAGR of 6.0%. Growth in the injection pen market can be attributed to the prevalence of chronic diseases, increasing number of regulatory approvals, and favorable reimbursements and government support. However, preference for other modes of drug delivery and the poor reimbursement scenario in developing countries is expected to restrain the growth of this market.
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The injection pen market is segmented on the basis of type, therapy, end user, and region. By type, the market is segmented into disposable and reusable injection pens. The disposable injection pen segment is expected to account for the largest share of the global injection pen market, and it is also expected to register the highest CAGR during the forecast period. These pens are being widely adopted in developed countries.
By therapy, the global injection pen market is segmented into diabetes, growth hormone therapy, osteoporosis, fertility, and other therapies. The diabetes segment is expected to grow at the highest CAGR during the forecast period owing to the high prevalence of diabetes. Based on type, diabetes therapy is further segmented into insulin and GLP-1.
By end user, the global injection pen market is categorized into homecare and hospital & clinics. The homecare segment is expected to grow at the highest rate owing to the growth in chronic diseases across the globe and the growing demand for self-administering devices.
Geographically, the injection pen market in North America accounted for the largest share of the injection pen market in 2017. A large and growing diabetic population, favorable reimbursement scenario, and increasing number of awareness programs are factors driving the market in this region.
The global injection pens market is dominated by Novo Nordisk (Denmark), Eli Lilly (US), and Sanofi (France). These players adopted major growth strategies such as product launches, mergers & acquisitions, and expansions to remain competitive in the market.
