HOME Research Insight Novo Nordisk (Denmark) and Eli Lilly (US) are the Major Players in the Injection Pen Market

Novo Nordisk (Denmark) and Eli Lilly (US) are the Major Players in the Injection Pen Market

The global injection pens market is projected to reach USD 41.38 Billion by 2022 from USD 30.97 Billion in 2017, at a CAGR of 6.0%. The injection pens market is well established with companies such as Novo Nordisk (Denmark), Eli Lilly (US), and Sanofi (France) holding a share of approximately 65–70%. Ypsomed (Switzerland), Becton, Dickinson and Company (US), Haselmeier (Switzerland), Owen Mumford (UK), and SHL Group (Taiwan) are the top 5 OEM companies in the global injection pens market.

Novo Nordisk (Denmark) dominated the injection pens market in 2016. The company offers injection pen devices for an extensive range of therapies such as diabetes which include insulin and GLP-1, growth hormone therapy, and obesity and weight management. The company has an experience of more than 90 years in diabetes care. Novo Nordisk has a widespread presence across the North America, Europe, Asia, and Latin America. The company focuses on inorganic as well as organic growth strategies such as product launches and expansions. For instance, in April 2016, the company invested USD 110.7 million (EUR 100 million) in its production plant in Chartres, France. Additionally, the company has launched the Fiasp (Canada), Saxenda (US), and Xultophy (in Switzerland), in the last three years.

Eli Lilly (US) is one of the major players in the injection pens market in 2016. The company offers both type of injection pen devices including disposable and reusable injection pens for insulin delivery, parathyroid hormone for osteoporosis treatment, and growth hormone therapy. The company sells its products in approximately 125 countries. It focuses on R&D investments for the development of technically advanced products. Its R&D expenditure during fiscal years 2016, 2015, and 2014 were USD 5,243.9 million, USD 4,796.4 million, and USD 4,733.6 million, respectively. Additionally, in 2015, Eli Lilly also established an innovation center in Cambridge, Massachusetts (US) with a focus on drug delivery and device innovation.

Some of the other players competing in this market are Merck (Germany), AstraZeneca (UK), F. Hoffman-la Roche (Switzerland), Novartis (Switzerland), and Pfizer (US).

Related Reports:

Injection Pen Market by Type (Disposable and Reusable Pens), Therapy (Diabetes (Insulin, Glucagon-Like Peptide-1), Growth Hormone Therapy, Osteoporosis, Fertility), End User (Homecare and Hospitals), and Region - Global Forecast to 2022

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