Biosimilar is defined as a type of biological product that is approved by respective regulatory bodies because of its clinical similarity to already approved biological products. This is relatively cheaper than biologics. With an increase in complex molecules or biologics coming into the market, drug developers continue to look for innovative technology that can simplify delivery needs. Introduction to injectable pens addresses the problem of complex drug delivery regimens. They are easy to handle, convenient, and repeatedly deliver accurate dosages. Injectable pens are generally used for the administration of insulin, growth hormone, and other medication. Many biologic therapies are currently approved for the treatment of various diseases are available in injectable pen form. Certain biologics had lost patents along with many biologics are going to lose the patent in coming years, thus biosimilar injectable pens market is expected to gain popularity in the coming year. In addition to it, the growing incidence and prevalence of chronic diseases like, diabetes, arthritis, etc. that requires daily dosing (self-administration) expected to increase the demand for injectable pens in coming years. However, preference for alternative drug delivery modes and stringent regulatory hurdles for the approval of biosimilars are the factor restrains the growth of the market.
The biosimilar injectable pens market is segregated in terms of product type, dosage, therapies, and region. On the basis of product type the market is classified into disposable biosimilar injectable pens and reusable biosimilar injectable pens. The disposable injectable pens segment is expected to expand at significant CAGR during the forecast period due to the low possibility of infection and ease of use. In terms of dosage the market is segregated into fixed-dose and variable dose. In terms of therapies the global biosimilar injectable pens market is segmented into diabetes, osteoporosis, growth hormone deficiency, fertility, and others. The diabetes segment expected to hold significant share of the market due to the presence of a huge diabetic patient pool and the growing adoption of injectable pens
On the basis of geography, the global biosimilar injectable pens market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In terms of revenue, North America followed by Europe is major contributor to the global biosimilar injectable pens market. This is because the rise in incidence and prevalence of various diseases, presence of major players, patent expiry of leading biologics, entry of biosimilars, and strong ongoing clinical pipeline propels the growth of the market in the region. Asia Pacific is third promising revenue contributor which is expected to grow at rapid pace in an upcoming year. The population in the countries such as India and China are becoming wealthier and demanding better treatment options. Furthermore, shifting healthcare infrastructure and demographic trends contribute to the growth of the region. Emerging and huge population base countries such as China and India offer tremendous market opportunities to the key market players operating in global biosimilar injectable pens market.
Some of the market players leading the global biosimilar injectable pens market include Ypsomed, SHL Group, Copernicus, Owen Mumford, Haselmeier, Jiangsu Delfu medical device Co.,Ltd, Emperra GmbH, Digital Medics Ptd Ltd., and other