Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=42342539
Browse in-depth TOC on "Injection Pen Market"
213 - Tables
62 - Figures
242 - Pages
Novo Nordisk A/S: Leading Innovator in Injection Pens
Novo Nordisk (Denmark) emerged as the top player in the global injection pen market in 2023. The company's Diabetes Care segment, which focuses on reusable injection pens, is both its largest and fastest-growing area. Novo Nordisk also provides injection pens for growth hormone treatments and other therapies. The increasing demand for its insulin products, used in injectable devices, has driven a rise in sales of its insulin pens and supplies. With a presence in over 75 countries and marketing in more than 180 countries, Novo Nordisk's substantial R&D investments support its market leadership through continuous product innovation.
Eli Lilly and Company: Key Player in Customized Injection Systems
Eli Lilly and Company (US) secured the second position in the global injection pen market in 2023. The company emphasizes R&D, with a strong pipeline of biologics in clinical stages. Eli Lilly develops and sells medicines and drug delivery systems across multiple therapeutic areas, including diabetes and growth disorders. It was a pioneer in launching the digital insulin pen, HumaPen. Operating in 14 countries and marketing in 125, Eli Lilly is expanding its presence in emerging markets to enhance sales and address customer needs with new, user-friendly products.
Sanofi: Major Provider of Insulin Injection Pens
Sanofi (France) held the third position in the global injection pen market in 2023. The company offers a range of injection pens for insulin formulations like Lantus, Toujeo, Insuman, and Lyxumia. Sanofi operates through independent distribution channels and focuses on increasing R&D spending, expanding geographically, and launching new products. With nearly 100 manufacturing sites in 41 countries and healthcare solutions available in more than 170 countries, Sanofi supports its market position with four R&D sites across Europe, North America, and Asia.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=42342539
Product Segment: Disposable Injection Pens Lead Market Growth
The injection pen market is segmented by type, with disposable injection pens holding the largest market share. The high adoption of disposable injection pens is driven by their ease of use, minimal risk of infection, and built-in cartridge that eliminates the need for manual loading. These features provide significant convenience for patients with reduced dexterity or visual impairments, fueling the growth of this segment.
Application Segment: Diabetes Therapy Drives Market Expansion
The injection pen market is divided by therapy into diabetes, growth hormone therapy, fertility, osteoporosis, obesity, and other therapies. In 2023, the diabetes segment experienced the highest growth. This growth is attributed to the high prevalence of diabetes, the increasing aging population, heightened awareness and education about insulin pens, and the availability of innovative insulin pens.
Diabetes Therapy Type: Insulin Pens Dominate Market
Within diabetes therapy, the injection pens market is segmented into insulin and GLP-1 therapies. In 2023, the insulin segment accounted for the largest share due to the global rise in diabetes prevalence and the high reliance on insulin among diabetic patients. Advancements such as smart insulin pens and connected injection pens further drive the growth of this segment.
End-User Segment: Home Care Settings Show Rapid Growth
The injection pen market is categorized by end-user into home care settings and hospitals & clinics. In 2023, the home care settings segment demonstrated the highest growth rate. Factors such as the increasing prevalence of chronic diseases and aging populations, ease of drug administration, preference for self-administration, technological advancements, and favorable reimbursement scenarios are key drivers of this segment's expansion.
Regional Insights: North America Leads the Market
The injection pen market is segmented by region into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In 2023, North America held the largest market share due to the presence of prominent market players, a growing patient population with diabetes and chronic diseases, increased healthcare expenditure, and rising government efforts to improve the accessibility of injection pens. Europe followed as the second-largest market, supported by government support, reimbursement for injection pens, and a rising prevalence of chronic diseases. Asia Pacific is expected to register the highest growth rate in the coming years.
For more information, inquire now! Inquire Now
Related Reports:
Injectable Drug Delivery Market
Insulin Delivery Devices Market
Pen Needles Market
Needles Market
Diabetes Care Devices Market
Get access to the latest updates on Injection Pen Companies and Injection Pen Market Share
About MarketsandMarkets™:
MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com/
Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg
Share this article