Increase in Strategic Developments in North America Injection Pen Market
The injection pen market is characterized by the presence of various market players. To increase their market share, market players take up various strategies such as product launches, regional expansion, and technological advancements. Injection pens are more involved in continuous innovation and technological advances, leading to increased acceptance among industry players. Leading players invest in R&D to develop advanced technologies and gain more revenue.
A few recent developments related to injection pen are mentioned below:
In May 2022, FDA approved Lilly's Mounjaro injection, the first and only glucose-dependent insulinotropic polypeptide (GIP) and glucagon-like peptide-1 (GLP-1) receptor agonist for the treatment of type 2 diabetes in adults. Mounjaro is available in six doses (2.5 mg, 5 mg, 7.5 mg, 10 mg, 12.5 mg, and 15 mg) and comes in Lilly's well-established auto-injector pen with a pre-attached, hidden needle.
In January 2022, SHL Medical’s partnered with Innovation Zed for connected pen injector solutions. It launched InsulCheck DOSE, a connected add-on device that transforms traditional pen injectors into smart solutions to support the monitoring of disease management regimen.
In May 2021, Lilly collaborated internationally with leading diabetes technology companies to integrate connected insulin pen solutions for people with diabetes. The company signed strategic international agreements with four companies—DexCom, Inc.; Glooko Inc.; myDiabby Healthcare; and Roche—to advance connected solutions and streamline care for people suffering from diabetes.
All the above-mentioned recent developments are driving the North America injection pen market.
North America Injection Pen Market Overview
The North America injection pen market is segmented into the US, Canada, and Mexico. The market growth in this region is attributed to the increasing incidence of diabetes and infertility and the rising product development in the market. According to the American Diabetes Association, the number of people with diabetes in the US population reached 37.3 million (11.3% of the population) in 2019. Nearly 1.9 million of the US population has type 1 diabetes, including ~244,000 children and adolescents. Further, ~1.4 million diabetes cases are diagnosed each year in the US. According to the Centers for Disease Control and Prevention, in 2020, ~88 million adults had prediabetes, which is 34.5% of the US adult population. According to Yale researchers, in 2022, ~30 million of the US population had diabetes, and about 7 million required daily insulin.
There is an increase in demand for infertility treatment in the US. For instance, according to the CDC, in 2019, in the US, 9% of men and 10% of women aged 15 to 44 reported infertility problems.
North America Injection Pen Market Segmentation
The North America 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 North America 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 North America 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 North America injection pen market is segmented into the US, Canada, and Mexico. The US 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 North America injection pen market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 13,156.60 Million |
| Market Size by 2028 | US$ 20,075.51 Million |
| CAGR (2022 - 2028) | 7.3% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Injection Pen Market is valued at US$ 13,156.60 Million in 2022, it is projected to reach US$ 20,075.51 Million by 2028.
As per our report North America Injection Pen Market, the market size is valued at US$ 13,156.60 Million in 2022, projecting it to reach US$ 20,075.51 Million by 2028. This translates to a CAGR of approximately 7.3% during the forecast period.
The North America 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 North America Injection Pen Market report:
The North America Injection Pen Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Injection Pen Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Injection Pen Market value chain can benefit from the information contained in a comprehensive market report.
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