Injection Pen Market – Regional
Analysis
On the basis of region, the
global Injection
Pen Market is segmented into North America, Latin America, Europe, Asia
Pacific, Middle East, and Africa. North America holds dominant position in the
global injection pen market, owing to increasing product advancements by the
key players in the region, whereas Asia Pacific is expected to be the fastest
growing market over the forecast period due to increasing population size and
increasing development of healthcare amenities.
Injection pen has typically been
used for frequent self-administration of preserved multi-dose drug formulations
requiring weight-based dosing. It is available in two variants; reusable and
disposable injection pens. Injection pens are ready to administer, as a prefilled
medical device ease the delivery of drug or biostimulant for patients, care
givers, and healthcare provider. Recent developments in injection pen devices
such as the use of needle safety devices, automated needle insertion and
injection, smaller dosing capabilities, and electronics is expected to drive
the market in addition to the prevalence of the chronic disease. Furthermore,
easy reimbursement and increasing FDA approval will strengthen injection pen
market, whereas preference for alternative drug delivery modes and poor
reimbursement scenarios in emerging economies will hinder growth of injection
pen market.
Injection Pen Market Drivers
Improving the convenience and
ease of administration of parenteral therapeutics has become a common strategy
adopted by biotechnology and pharmaceutical industries and is expected to drive
growth of injection pen market. Key players aim to introduce novel drug
delivery system by targeting end-user flexibility such as fewer handling steps,
higher volumes, thinner needles, high viscous formulations, and novel primary
containers to accommodate changing injection pen market trends.
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For instance, in 2015, Antares
Pharma launched Makena subcutaneous auto injector in collaboration with AMAG
Pharmaceuticals. This collaboration clubs hydroxyprogesterone caproate
injection of Antares Pharma that is used to reduce the risk of preterm birth in
women pregnant with a single baby who has a history of singleton spontaneous
preterm birth, with QuickShot auto-injector of AMAG Pharmaceuticals to allow
rapid subcutaneous self-administration of highly viscous drugs in oil such as
testosterone or progesterone and biologics using high spring pressure through a
fine gauge needle.
The prevalence of chronic
diseases is increasing due to rapid aging of the population and the greater
longevity of people with chronic conditions such as diabetes, multiple
sclerosis (MS), rheumatoid arthritis (RA), hepatitis, osteoporosis, hemophilia,
reproductive health, anemia, hemolytic disease, and anti-thrombolytic therapy.
Injection pen market was predominant in diabetes therapy and growth hormone
therapy for the past 20 years and 10 years respectively due to disease
prevalence. 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 every year. This suggests predominance of injection pen
market for diabetes therapy. Moreover, recent advancements widens application
of injection pen for reproductive health, osteoporosis, and hepatitis.
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Furthermore, manufacturers of
injection pens are focusing on device advancements or company pipeline to meet
the requirements of next-generation molecules and anticipated end-user needs.
For instance, Biocorp launched Datapen and Easylog, two internet connected
devices in 2015. Additional features of Datapen and Easylog device includes
dose setup setting, Oled display, audio as well as visual signals to guide
patients, and real time transfer of treatment information to storage platform
and mobile app. Furthermore, increasing pipeline product will lead to expansion
of therapeutic options for medical practitioners as well as for patients,
thereby propelling growth of injection pen market.
Injection Pen Market – Competitor
Analysis
The injection pen market is
mainly led by 3 companies: Novo Nordisk, Sanofi, and ELI Lilly and Company.
Other major players in the injection pen market include 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.
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