The global Injection Pen Market Demand is expected to grow at a 7.0% CAGR to a market worth of US$ 85.8 billion by the end of 2033, up from US$ 40.7 billion in 2022.
An increase in needlestick injuries is generating an increased preference for injectable pens over the traditional vial and needle technique, which is fueling Injection Pen market growth.
Get Sample Report + Related Graphs & Charts@ https://www.futuremarketinsights.com/reports/sample/rep-gb-14315
According to the Injection Pen market analysis, sales of Injection Pens have surged due to their growing popularity, which has been aided by developments in delivery device technology.
According to the survey, the injectable pen industry is rapidly expanding as healthcare organisations expand to meet rising medical demands.
Injection Pens are predicted to be popular because they reduce the difficulty and discomfort of injecting medications into the body.
Because many chronic illness implants are biologics, the expiration of copyrights, increased financing agencies, and growing government and insurance company backing all point to new Injection Pen market potential.
The most common reasons for avoiding utilising injectable pens are needlestick anxiety and needlestick injuries. As a result, a wide range of needle-free devices are now available, with the added benefit of avoiding needle fear, which is a barrier to the use of Injection Pens.
Furthermore, because to the inability to manage the dose, insulin Injection Pen therapy has been associated to hyperglycemia in some patients, which is driving people all over the world to reconsider, negatively impacting Injection Pen adoption trends.
For any queries linked with the report, ask an analyst@ https://www.futuremarketinsights.com/ask-question/rep-gb-14315
Key Takeaways:
- The USA is expected to dominate the global market at around 28.9% by the end of 2023.
- Germany is set to hold a share of 5.5% of the global market in 2023.
- China is expected to hold a market share at 8.1% of the global market at the end of 2023.
- Disposable injection pens are expected to hold a market share of 58.6% by the end of 2023.
- Based on indication, diabetes is expected to hold a majority of the segment share at the end of 2023 at around 56.9%.
- As per distribution channel, the hospital pharmacies segment is set to hold 35.5% revenue share in 2023.
“North America is forecasted to dominate the market, owing to an increase in the number of diabetic patients and the use of Injection Pens in-home care settings. Furthermore, the region is likely to elicit vital emerging trends in the Injection Pen market, and the presence of key players offering various pen injection devices used for autoimmune growth hormone is expected to fuel the region’s market during the forecast period.” avers an FMI researcher.
Competitive Landscape:
Eli Lilly and Company, Mylan N.V., Sanofi, AstraZeneca, Owen Mumford Ltd., Novo Nordisk, Sandoz Inc., and GlaxoSmithKline plc are some of the prominent players in the Injection Pen market.
Companies in the Injection Pen market are focusing on increasing their Injection Pen market share through global collaborations, thereby influencing the Injection Pen market’s future trends.
Legions of companies are using mergers and acquisitions as key strategic moves to expand and strengthen their global presence.
Aside from that, product launches have remained an important approach for players.
Recent Developments in the Injection Pen Market are:
- Medtronic plc announced the availability of the InPen with real-time1 Guardian Connect CGM data in November 2020.
- Dupixent, a revolutionary prefilled pen from Sanofi that treats patients with atopic dermatitis, chronic rhinosinusitis, and asthma at home, was approved by the FDA in the United States in April 2020.
Contact Sales for Further Assistance in Purchasing this Report@ https://www.futuremarketinsights.com/checkout/14315
Key Segments Covered in Injection Pen Industry Research
By Product:
- Disposable Injection Pens
- Reusable Injection Pens
By Indication:
- Anaphylaxis
- Diabetes
- Cardiovascular Diseases
- Multiple Sclerosis
- Rheumatoid Arthritis
- Cancer
- Others
By Distribution Channel:
- Hospital Pharmacies
- Drug Stores
- Retail Pharmacies
- Online Pharmacies
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact:
Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Browse All Reports: https://www.futuremarketinsights.com/reports
LinkedIn | Twitter | Blogs
