According to Data Bridge Market Research new Market report, global pen injectors market will account to an estimated USD 33.05 billion in 2018 growing at a CAGR of 5.85% during the forecast period of 2018 to 2025.
Global Pen Injectors Market
Pen injectors are drug injecting medical devices that help the patients to self-inject the dosage of drugs or even the physicians to deliver the required dosage to the patients. These pen injectors are a type of syringe needles that help the user to inject the dosage by pressing a button, instead of using a traditional syringe. These devices are made in the form of pens as they help in overcoming the fear in patients of needle-based drug injecting methods.
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Global pen injectors market is segmented on the basis of type, dosage, therapy and geography.
By Type (Disposable, Reusable), Dosage (Fixed, Variable), End-Users (Home Care, Hospitals & Clinics), Therapy (Diabetes, Anaphylaxis, Growth Hormone Therapy, Fertility, Arthritis, Osteoporosis, Others) and Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa).
FACTORS DRIVING GROWTH IN PEN INJECTORS MARKET
Increasing prevalence of diabetes among the population
According to International Diabetes Federation in 2017, an estimated number of 426 million of population aged between 20-79 years were suffering from diabetes. This number is projected to rise up to around 628 million by 2045. This share of population was led by Western Pacific region with around 159 million of people suffering from diabetes in the region. The second largest prevalence of diabetes can be found in South-East Asia with around 82 million of people suffering from diabetes.
This high prevalence of diabetes and growing number of population suffering from the disease is a positive driver for the market growth as one of the major applications for pen injectors is injecting of insulin for the control of levels of diabetes in the body.
Few of the major competitors currently working in the pen injectors market are Novo Nordisk A/S, Eli Lilly and Company, Sanofi, Ypsomed, AstraZeneca, F. Hoffmann-La Roche Ltd, Merck KGaA, BD, Owen Mumford, Novartis AG, Pfizer Inc., Wilhelm Haselmeier GmbH & Co. KG, GlaxoSmithKline plc, Mylan N.V., SHL Group, Copernicus, Teva Pharmaceutical Industries Ltd., Johnson & Johnson Services Inc., Emperra GmbH E-Health Technologies, Trividia Health Inc., Pikdare S.r.l., ARKRAY Inc., and GlucoMe.
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