Increase in Biologics Patent Expiry and Use of Biosimilars in Middle East & Africa Injection Pen Market
Biologics are widely developed for treating chronic disorders such as cancer, multiple sclerosis, and diabetes. These drugs are unique in their own way, and manufacturers own patents of 20 years for manufacturing and distributing such drugs. As most patents are either expired or on the verge of expiry, other market players have begun launching their own version of such drugs, i.e., biosimilars. Biosimilars (generic drugs that are low-priced and are preferred by the government and insurance companies) have gained tremendous traction in the past few years over the original biologics. The pharmaceutical market players are promoting the adoption of biosimilars, which further creates the demand for injection pens for their delivery. As per AJMC, a total of 40 biosimilars were approved, and 25 new biosimilars were launched in the US till December 2022. Furthermore, there has been significant use of injectables on a large scale owing to prompt response, thus, generating the demand for injection pens for safe. Furthermore, the manufacturers of injection pens are constantly providing training for the proper use of injection pens to avoid associated dangers such as needle stick injuries and hyperglycemia which are further expected to create opportunities for the injection pen market. Therefore, increased use of biosimilars, patent expiry, and increased use of injectables are likely to create ample opportunity for the growth of the injection pen market in the coming years.
Middle East & Africa Injection Pen Market Overview
The Middle East & Africa injection pen market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The market growth in this region is attributed to the increasing incidence of diabetes and infertility and growing efforts by companies for product development. The incidence of diabetes in Saudi Arabia is increasing rapidly and is expected to remain consistently high in the coming years due to the presence of a high percentage of obese and overweight citizens. According to the World Health Organization (WHO), children from Saudi Arabia are more likely to develop diabetes at an early age due to an unhealthy lifestyle and insufficient physical activity, and the prevalence of juvenile diabetes has been observed to be increasing continuously in the country in recent years. According to a report by the IDF, 10% of people from Saudi Arabia have diabetes, and the prevalence will almost double by 2045. Moreover, ~4.27 million Saudi Arabians have diabetes, and 1.86 million are yet to be diagnosed with the disease. This number is expected to reach 5.6 million and 7.5 million by 2030 and 2045, respectively.
Middle East & Africa Injection Pen Market Segmentation
The Middle East & Africa injection pen market is segmented on the basis of type, therapy, end user, and country. Based on type, the injection pen market is segmented into disposable injection pens and reusable injection pens. The disposable injection pens segment registered a larger market share in 2022.
Based on therapy, the Middle East & Africa injection pen market is segmented into diabetes therapy, growth hormone therapy, autoimmune diseases therapy, fertility therapy, cancer therapy, and others. The diabetes therapy segment registered the largest market share in 2022.
Based on end user, the Middle East & Africa injection pen market is segmented into hospitals & clinics, home care, and others. The home care segment registered the largest market share in 2022.
Based on country, the Middle East & Africa injection pen market is segmented into Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa. The Rest of Middle East & Africa dominated the market in 2022.
AstraZeneca Plc, Becton Dickinson and Co, Eli Lilly, and Co, Gerresheimer AG, Haselmeier GmbH, Merck KGaA, Novo Nordisk AS, Owen Mumford Ltd, Sanofi SA, and Teva Pharmaceutical Industries Ltd are among the leading companies operating in the Middle East & Africa injection pen market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 2,016.10 Million |
| Market Size by 2028 | US$ 2,872.94 Million |
| CAGR (2022 - 2028) | 6.1% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
Middle East and Africa
|
| Market leaders and key company profiles |
|
The Middle East & Africa Injection Pen Market is valued at US$ 2,016.10 Million in 2022, it is projected to reach US$ 2,872.94 Million by 2028.
As per our report Middle East & Africa Injection Pen Market, the market size is valued at US$ 2,016.10 Million in 2022, projecting it to reach US$ 2,872.94 Million by 2028. This translates to a CAGR of approximately 6.1% during the forecast period.
The Middle East & Africa Injection Pen Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Middle East & Africa Injection Pen Market report:
The Middle East & Africa Injection Pen Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Middle East & Africa Injection Pen Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East & Africa Injection Pen Market value chain can benefit from the information contained in a comprehensive market report.
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