(I-BusinessNews.Com, August 07, 2021 ) The global injection pen market is expected to reach USD 41.38 Billion by 2022 from USD 30.97 Billion in 2017, at a CAGR of 6.0% during the forecast period (2017-2022). The key factors driving the growth of this market include rising prevalence of chronic diseases, favorable reimbursement scenario and government support, and the increasing number of regulatory approvals resulting in the increased adoption amongst patients.
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North America held the largest share of the market in 2017
In 2017, North America accounted for the largest share of the injection pen market, followed by Europe. Factors such as increasing geriatric population in Canada, increasing FDA approvals, and rising prevalence of chronic diseases in the US and Canada are contributing to the large share of this geographical segment.
Key Market Players:
The key players in the global injection pen market are Novo Nordisk (Denmark), Eli Lilly (US), Sanofi (France), Ypsomed (Switzerland), Merck (Germany), AstraZeneca (UK), F. Hoffman-la Roche (Switzerland), Becton, Dickinson and Company (US), Owen Mumford (UK), Novartis (Switzerland), Pfizer (US), and Haselmeier (Switzerland).
Geographic segments in this report include North America, Europe, Asia Pacific, and RoW. Of these, the North American segment is expected to account for the largest share of the market in 2017. The large share of this region can be attributed to the rising prevalence of diabetes, favorable reimbursement scenario, and the increasing number of awareness programs in this region.
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