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Injection pen is an insulin pen utilized to inject insulin for the treatment of diabetes. Insulin is a hormone delivered by the pancreas. It is made out of an insulin cartridge (incorporated or purchased independently) and a dial to gauge the measurements and is utilized with expendable pen needles to convey the dosage. It was presented and advertised as NovoPen by the Danish organization Novo Nordisk in 1985.
Technological advancements in the injection pens, new product launches, occurrence of diabetes globally, government support and better reimbursement policies are some of the factors which drive the global injection pen market. However, shifting preference for alternative drug delivery modes, poor reimbursement scenario in developing countries may hamper the growth of this market.
The global injection pen market is segmented on the basis of type, therapy, end user and region.
By type, the market is classified into disposable injection pen and reusable injection pen. The disposable injection pens segment is relied upon to develop at the most elevated CAGR amid the figure time frame. The high development of this fragment can be credited to the advantages offered by disposable pens such as transportability, usability, and low plausibility of disease.
Based on therapy, the global injection pen market is fragmented into diabetes, growth hormone therapy, osteoporosis, fertility, and other therapies, (for example, various sclerosis, obesity, cardiovascular diseases, rheumatoid arthritis, and headache). The diabetes section is relied upon to develop at the most noteworthy CAGR amid the gauge time frame. The high development of this portion can be ascribed to the extensive diabetic populace over the globe and the good repayment situation for diabetes medications in created nations.
By end user segment, the market is categorized into home care and hospitals & clinics. The homecare section is anticipated to register the most elevated CAGR amid the estimate time frame because of the developing interest for self-organization sedate conveyance gadgets and the developing commonness of interminable ailments.
Geographically, the global injection pen market is divided into North America, Europe, Asia Pacific and Rest of the World. Of these, the North American fragment is relied upon to represent the biggest share of the market in 2018. This can be ascribed to the rising commonness of diabetes, ideal repayment situation, and the expanding number of awareness programs in this area. Inclination for optional drug delivery modes and poor repayment situation in developing nations may hamper the development of this market amid the gauge time frame to a certain extent. For example, in emerging nations, like, China and India, no scope is accommodated for the home restorative gadgets, such as, injection pens, hence expanding the out-of-stash consumption by patients.
The major key players involve in this market are Novo Nordisk, Sanofi, ELI Lilly and Company, Merck, Ypsomed, Astrazeneca, F.Hoffman-La Roche, Becton, Dickinson and Company (BD), Owen Mumford, Novartis, Pfizer, Haselmeier etc.
The global injection pen market is segmented based on type, therapy, end user and geography. By type, the market is further categorised into disposable injection pen and reusable injection pen. Owing to the advantages offered by the disposable pens, this segment is anticipated to fuel the global injection pen market by 2024. Moreover, based on therapy the market is classified into diabetes, growth hormone therapy, osteoporosis, fertility, and other therapies. The diabetes section is expected to grow at the most noteworthy CAGR amid the gauge time frame. Whereas, by end user, the market is categorised into home care and hospitals & clinics. Owing to the developing interest for self-organization sedate conveyance gadgets and the developing commonness of interminable ailments the homecare section is anticipated to register the most elevated CAGR amid the estimate time frame. The market is studied across the countries of various regions such as North America, Europe, Asia-Pacific and Rest of the World. Due to the rising occurence of diabetes, ideal repayment situation, and the expanding number of awareness programs in this area in North America, the region is expected to account for the highest revenue by 2024. Some of the key companies active in this market are Novo Nordisk, Sanofi, ELI Lilly and Company, Merck, Ypsomed, Astrazeneca, F.Hoffman-La Roche, Becton, Dickinson and Company (BD), Owen Mumford, Novartis, Pfizer, Haselmeier etc.
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