Injection Pen Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2028

 

Historically, the frequent self-administration of preserved multi-dose drug formulations requiring weight-based dosing has been accomplished using an injection pen. There are two types of it; reusable and disposable injection pens. As a prefilled medical device that makes drug or biostimulant delivery easier for patients, caregivers, and healthcare professionals, injection pens are ready to use. The market is anticipated to be driven by the prevalence of chronic disease as well as recent advancements in injection pen technology, such as the use of needle safety devices, automated needle insertion and injection, smaller dosing capabilities, and electronics. The market for injection pens will be strengthened by easy reimbursement and rising FDA approval, but it will be constrained by preferences for alternative drug delivery methods and poor reimbursement conditions in emerging economies.

A needle-equipped Injection Pen Market called an insulin pen is used to inject insulin into the subcutaneous tissue (the tissue between your skin and muscle). Your body has subcutaneous tissue, also known as sub Q tissue, all over it.

The global Injection Pen Market is expanding significantly due to a number of factors, including the rising prevalence of chronic diseases, technological advancements in drug delivery devices, rising investments in research and clinical trials, increasing numbers of government approvals, and favorable reimbursement policies. The cons of using conventional syringes are one of the main reasons why consumers are switching to high-tech injection pens.

The increasing amount of money that pharmaceutical companies are investing in the creation of new medications is driving up consumer demand, which is in turn driving up demand for injection pens for effectively administering medications. The global Injection Pen Market pens are expanding as a result of rising healthcare costs and increased consumer awareness of the existence of cutting-edge injection pens. Because of the conveniences associated with injection pens, patients can self-administer medications without the need for medical assistance, which also lowers the cost. As a result, among patients who frequently need to administer medication, injection pens are quickly gaining popularity.

Key Players

Three companies dominate the injection pen market: ELI Lilly and Company, Novo Nordisk, and Sanofi. Ypsomed Holding AG, Biocorp Production SA, AstraZeneca PLC, F. Hoffman-La Roche Ltd, Becton Dickinson, and Merck & Co., Inc. are some of the other leading companies in the injection pen market.

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