According to a research report published by Spherical Insights & Consulting, the Global Injection Pen Market Size is Expected to Grow from USD 38.7 Billion in 2023 to USD 75.4 Billion by 2033, at a CAGR of 6.9% during the forecast period 2023-2033.

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A medical device that is used to inject drugs subcutaneously (under the skin) or intramuscularly (into the muscle) is known as an injection pen. It includes a cartridge with the medication and a needle, a mechanism for administering the right dosage. For patients who require self-medication or have limited skills or vision problems, the injection pen is a feasible replacement for regular syringes. An integral part of the treatment of both type 1 and type 2 diabetes is insulin therapy. Patients and healthcare professionals (HCPs) must be well-informed about injection techniques because insulin injection procedures depend on the operator. This is necessary to ensure that patients with diabetes have positive outcomes. Pen injection devices are a commonly used and accepted method for daily self-administered insulin injections to treat diabetes. When giving insulin from a vial, patients find that using pen injection techniques is easier than using a syringe. Thus, the use of injection pens has increased as the number of people with diabetes has increased. The market for injection pens is expanding as a result of the aging population, rising chronic disease rates, and technological advancements. The use of these devices is also promoted by government programs and self-care guidelines. However, patients, medical personnel, and insulin strength are at risk from improper use of contemporary delivery methods, inadequate training, and regulatory requirements, which may result in overdoses.

Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the Global Injection Pen Market Size, Share, and COVID-19 Impact Analysis, By Type (Reusable, Disposable), By Therapy (Growth Hormone, Diabetes, Fertility, Osteoporosis, Others), By End-User (Home Care, Hospitals & Clinics, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033

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The disposable segment is predicted to hold the greatest market share through the forecast period.

Based on the type, the injection pen market is classified into reusable, and disposable. Among these, the disposable segment is predicted to hold the greatest market share through the forecast period. This can be attributed to the cost and security of disposable injection pens. Disposable injection pens improve protection against blood-borne infections because the injections are reusable. They ought to be used just once. The market for disposable injection pens has expanded in recent years as a result of several factors, including accessibility, rising consumer awareness, rising healthcare costs, and an increase in the prevalence of insulin-related diseases.

The diabetes segment is anticipated to hold the greatest market share during the projected timeframe. 

Based on the therapy, the injection pen market is divided into growth hormone, diabetes, fertility, osteoporosis, and others. Among these, the diabetes segment is anticipated to hold the greatest market share during the projected timeframe. As compared to traditional insulin delivery methods, injection pens provide various advantages. Injection pens provide more precise dosage, portability, privacy, and convenience, all of which are especially beneficial for diabetics who regularly manage their disease. Poor dietary practices cause blood glucose levels to rise. The condition significantly worsens type 1 diabetes. A condition called type 2 diabetes develops when the body is unable to tolerate insulin. The global rise in type 1 and type 2 diabetes is fueling the expansion of this market.

The home care segment is anticipated to hold the greatest market share during the projected timeframe.   

Based on the end-user, the injection pen market is divided into home care, hospitals & clinics, and others. Among these, the home care segment is anticipated to hold the greatest market share during the projected timeframe. Self-injection pens are a useful tool in the homecare industry for lowering the costs associated with treating and managing a variety of illnesses. Furthermore, the use of self-injection pens is advised for novel and creative subcutaneous drug administration. Increased public spending on healthcare, growing awareness of injection pens, rising disposable income, and patients’ increasing use of new drug delivery devices to treat their conditions are the primary factors propelling this market’s growth.

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North America is estimated to hold the largest share of the injection pen market over the forecast period.

North America is estimated to hold the largest share of the injection pen market over the forecast period. The increase in non-contagious diseases in developed markets such as the US and Canada is driving growth in the injection pen market. Growth is being driven by North America’s healthcare spending, the availability of injection pens, and contemporary drug delivery systems. Affordability and accessibility are also influenced by financial plans and incentives. Higher adoption rates are a result of the region’s improved healthcare infrastructure and reimbursement practices.

Asia Pacific is predicted to have the highest CAGR growth in the injection pen market over the forecast period. Urbanization, aging populations, and the rise in chronic diseases like diabetes are all predicted to drive growth in the Asia Pacific pen market. It is anticipated that investments in healthcare infrastructure and the expanding use of injection pens for the self-administration of medications will propel this market.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major key players in the Injection Pen market include Eli Lilly, Novo Nordisk, Sanofi, Merck, AstraZeneca, Ypsomed, F. Hoffman-La Roche, Becton Dickinson and Company, Haselmeier GmbH, Gerresheimer AG, AstraZeneca Plc, Teva Pharmaceutical Industries Ltd, Medtronic plc, Owen Mumford Ltd, Terumo Medical Corporation, Braun Medical, Sun Pharmaceutical Industries Ltd., and Others.

Recent Development

• In April 2024, Nexus Pharmaceuticals, LLC sold a manufacturing facility to Eli Lilly and Company (US) to support the growing demand and grow the global network of parenteral (injectable) product manufacturers.
• In January 2024, after receiving approval for pre-filling the Mounjaro medication into an injection pen, Eli Lilly (LLY.N), which opened a new tab, announced that it would provide the medication to British patients in a matter of weeks. Mounjaro fights diabetes and obesity. The US pharmaceutical company stated in a statement that the Medicines & Healthcare Products Regulatory Agency (MHRA) approval would make Britain the first significant market to receive the medication in the convenient multi-shot pen, known as Kwikpen.
• In February 2023, Sanofi’s SoloStar and DoubleStar insulin injection pens are compatible with SoloSmart, a single-piece, add-on linked device. It reports the injection date, time, and insulin dosage. The company is now able to provide data visualization via the Glooko app due to this collaboration. Patients can connect their diabetic care with healthcare providers by sharing data with them.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the injection pen market based on the below-mentioned segments:

Global Injection Pen Market, By Type 

• Reusable
• Disposable

Global Injection Pen Market, By Therapy

• Growth Hormone
• Diabetes
• Fertility
• Osteoporosis
• Other

Global Injection Pen Market, By End-User

• Home Care
• Hospitals & Clinics
• Others

Global Injection Pen Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa

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About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company’s mission is to work with businesses to achieve business objectives and maintain strategic improvements.

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