Tuesday, March 8, 2022

Injection Pen Market - Emerging Trends & Global Future Forecasts

 Market Size Estimation:


The total size of the injection pen market was arrived at after data triangulation from two different approaches, as mentioned below. After each approach, the weighted average of all approaches was taken based on the level of assumptions used in each approach.

Revenue Growth Expectations:

The global injection pens market is projected to reach USD 53.3 billion by 2026 from USD 37.6 billion in 2021, growing at a CAGR of 7.2% during the forecast period.

Download PDF Brochure@ 
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=42342539

Data Triangulation:

After arriving at the market size, the total market was divided into several segments and sub-segments. To complete the overall market engineering process and arrive at the exact statistics for all segments and sub-segments, data triangulation and market breakdown procedures were employed, wherever applicable. The following figure shows the market validation, source structure, and data triangulation methodology implemented in this report’s market engineering process.

Major Growth Influencing Factors:

Globally, there is a growing demand for injection pens owing to the growing prevalence of chronic diseases, increasing number of regulatory approvals, technological advancements in injection pens and favorable reimbursement and government support. However, injection pens have certain challenges pertaining to misuse and needle-stick injuries. This, coupled with the preference for alternative drug delivery modes, poor reimbursement scenario in developing countries, and needle anxiety are the major factors restraining the growth of the injection pens market.

However, the patent expiry of biologics which will increase the demand for biosimilars and the growth opportunities in the emerging markets are expected to offer growth opportunities for players in the injection pens market during the forecast period.

Impact of COVID19:

The COVID-19 pandemic did not have a significant impact on the injection pens market. Patients already using injection pens for various therapies continued to use the same during the pandemic. However, the supply chain for injection pens was disrupted due to mobility restrictions, closed borders, and a decline in overall trade. COVID-19-infected patients who received treatment are at a higher risk of becoming diabetic. Hence, growth in the incidence of diabetes will increase the demand for injection pens.

In the end user segment, home-care settings is expected to grow at the highest rate in the injection pen market

Based on end users, the injection pens market is segmented into home care settings and hospitals & clinics. In 2020, the home care settings segment accounted for the highest growth of the injection pens market. The growing geriatric population, ease of drug administration, increasing prevalence of chronic diseases, technological advancements, and favorable reimbursement scenarios are some of the key factors driving the growth of the home care settings market.

North America is expected to account for the largest share for players operating in the injection pen market

In 2020, North America dominated the global injection pens market with the largest share. The highest share of the North American injection pens market can primarily be attributed to the rising prevalence of diabetes, favorable reimbursement scenario, and the increasing number of awareness programs. The high awareness amongst the patients, increase in the disposable income of the patients and increased adoption of injection pens also contributes to the higher share of the North America in the injection pen market.

Request Sample Pages@ 
https://www.marketsandmarkets.com/requestsampleNew.asp?id=42342539

Global Leading Companies:

The prominent players in the injection pens market are Novo Nordisk A/S (Denmark), Becton, Dickinson and Company (US), Ypsomed Holding AG (Switzerland), Sanofi (France), Eli Lilly and Company (US), Merck KGaA (Germany), AstraZeneca plc (UK), F. Hoffmann-La Roche Ltd. (Switzerland), Owen Mumford (UK), Sulzer Ltd. (Switzerland), Sun Pharmaceutical Industries Ltd. (India), Pfizer (US), Biocon Ltd. (India), Lupin Ltd. (India), Wockhardt Ltd. (India), AptarGroup, Inc. (US), Novartis AG (Switzerland), Gerresheimer AG (Germany), Bespak Europe Ltd. (UK), SHL Medical AG (Switzerland), Boehringer Ingelhem (Germany), Nemera France SA, Companion Medical (US), and Jiangsu Delfu Medical Devices Co., Ltd. (China).

No comments:

Post a Comment