The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s injection pen market report forecasts the injection pen market size to grow to $73.72 Billion by 2027, with a CAGR (compound annual growth rate) of more than 8%.

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Injection Pen Market Size Forecast
The global injection pen market is expected to grow from $48.84 billion in 2022 to $52.89 billion in 2023 at a compound annual growth rate (CAGR) of 8.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The injection pen market size is expected to grow to $73.72 billion in 2027 at a CAGR of 8.7%.

North America held the largest injection pen market share.

Key Injection Pen Market Driver ­– Rise In The Prevalence Of Diseases Such As Diabetes And Arthritis
For instance, as per the International Diabetes Federation (IDF), the global diabetes prevalence population, by 2040, is expected to reach about 640 million. Furthermore, in the population of emerging countries such as India, about 69 million people are diabetic. By 2030, this number is expected to rise to 100 million. Therefore, the rise in the prevalence of diseases such as diabetes and arthritis will drive the growth of the injection pen market.

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Key Injection Pen Market Trend – Technological Advancement
Companies in the injection pen market are focusing on product innovations and efficient delivery systems. Technological advancements provide for accurate delivery, improved patient satisfaction and adherence, and greater ease of use. For instance, in September 2022, Medtronic, a US-based medical technology, services, and solutions company, launched InPen integrated with real-time1 Guardian Connect CGM data. This integrated solution gives users all the information they need to manage their diabetes in one screen, including real-time glucose levels and information on insulin dosing. Users may access all their information in real time, in one screen, rather than jumping between apps, making it simpler to decide how much medication to take to control their blood sugar levels.

Injection Pen Market Segment
1) By Product Type: Disposable Injection Pens, Reusable Injection Pens
2) By Therapy: Diabetes, Fertility, Osteoporosis, Growth Hormone Therapy, Other Therapies
3) By End Users: Home Care, Hospital & Clinics

Injection Pen Market Major Players and Strategies
Major players in the injection pen market are Novo Nordisk A/S, Ypsomed Holding AG, Sanofi, Eli Lilly and Company, Merck KGaA, AstraZeneca plc, F. Hoffmann-La Roche Ltd., Owen Mumford, Sulzer Ltd., Sun Pharmaceutical Industries Ltd., Pfizer, Lupin Ltd., Wockhardt Ltd., AptarGroup, Inc., Novartis AG, Gerresheimer AG, SHL Medical AG, Boehringer Ingelhem, Nemera France SA, Companion Medical, Jiangsu Delfu Medical Devices Co., Ltd., Haselmeier, GlaxoSmithKline plc, Stat Medical Devices, DuPont, and Emperra GmbH E-Health Technologies.

In August 2020, Sulzer, a Swiss-based industrial engineering company, acquired Haselmeier, a privately held drug delivery device developer, for an amount of $118 million. This acquisition of Haselmeier complements Sulzer’s healthcare portfolio, in addition to leveraging its APS expertise in precision injection moulding to expand its presence in the drug delivery device. Haselmeier is based in Stuttgart, Germany, and was founded in 1920.

The Injection Pen Global Market Report 2023 covers regional data on injection pen market size, injection pen market trends and drivers, opportunities, strategies, and injection pen market competitor analysis. The countries covered in the injection pen market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Injection pens are used for injecting medication under the skin. Injection pens make injectable medicine such as insulin easier and more convenient to use, thus increasing patient adherence. The pens contain a cartridge, a dial to measure dosage, and a disposable needle and allow more simple, accurate, and convenient delivery than a vial and syringe.

View More Reports Related To The Injection Pen Market –
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