Injection Pen Market Size Projection, Future Trends, Growth Estimation, Sales Insights and COVID-19 Impact Analysis By 2023

iCrowd Newswire
22 Jan 2021, 15:03 GMT+10

Market Regional Analysis

The injection pen market regional scrutiny includes regions such as America, the Middle East, Europe, Asia Pacific, and Africa. The Americas region's injection pen market is expected to control the global market due to the intensifying frequency of diabetes and cancer cases, the growing number of endorsements, and the unveilings of new products throughout the forecast period. The European injection pen market is expected to embrace the next position in the market.

It is projected that the sophisticated healthcare segment and the growing prevalence of chronic diseases in this region are expected to push the injection pen market. The Asia Pacific injection pen market is the firmest increasing region in the market due to the massive number of patients with continuing diseases. The Middle Eastern and African regions accounted for the bottom market part of the injection pen market. Though, some noticeable companies are participating in the Middle Eastern region, which is expected to back the development of the injection pen market in the forecast period.

Overview

The convenience related to drug delivery is estimated to work in favor of the injection pen market. The medical device industry reports are formed by Market Research Future, emphasizing market opportunities for growth. A 6.5 % CAGR is predicted to motivate the expansion in the forthcoming period.

The benefits of ease of use, compactness, and the low prospect of infection are foreseen to promote the injection pen segment. The transition from vials to portable injection pens is driven by the active patient base who prefers measured dose delivery to reduce errors.

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Competitive Analysis

The leveraging of AI and IoT is estimated to gain traction with more integration of technology in the operations related to production and logistics in the upcoming period. The diversification of risk and assets owned is estimated to be seen as a major trend in the impending period. Investors' role in the revitalization of the market's operation and growth is anticipated to be vital. The creation of a novel working environment is predicted to influence the market on a global scale further. The market is on the precipice of changing the course of development in the near future with the implementation of new strategies. The increased reliance on e-commerce platforms to push the sales level is estimated to be another key factor that will drive the development of the global market in the approaching period. The reinstatement of buyer demand and fiscal feasibility is appraised to deliver optimistic odds for the businesses' expansion in the forecast period.

The vital contenders in the injection pen market are Sanofi (France), Ypsomed (Switzerland), AstraZeneca (U.K.), F.Hoffman-La Roche (Switzerland), Merck (U.S.), Owen Mumford (U.K.), Novartis (Switzerland), Pfizer (U.S.), Novo Nordisk (Denmark), Eli Lilly (U.S.), Haselmeier (Switzerland), Becton Dickinson and Company (U.S.), Jiangsu Delfu medical device Co. Ltd (China), and Biocon Ltd (India).

Segmental Analysis

The segmental investigation of the injection pen market is conducted on the basis of product, therapy, distribution channel, type, region, and end-user. On the basis of types, the injection pen market is segmented into reusable injection pens and disposable injection pens. On the basis of end-user type, the injection pen market is segmented into hospitals, home care, and clinics.

The injection pen market is segmented into retail pharmacies, online medical stores, hospital pharmacies, and diabetes clinics based on the distribution channel. Based on the product, the injection pen market is divided into insulin pens and pen needles. Based on the regions, the injection pen market is segmented into America, the Middle East, Europe, Asia Pacific, and Africa. Based on the therapy, the injection pen market is segmented into fertility, diabetes, Crohn's disease, osteoporosis, multiple sclerosis, cardiovascular diseases, rheumatoid arthritis, growth hormone therapy obesity, cancer, and others.

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