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Injection Pen Global Market Report 2022
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.
New York, June 01, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Injection Pen Global Market Report 2022" - https://www.reportlinker.com/p06282389/?utm_source=GNW
, 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.
The global injection pen market is expected to grow from $43.56 billion in 2021 to $46.70 billion in 2022 at a compound annual growth rate (CAGR) of 7.22%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $62.05 billion in 2026 at a CAGR of 7.36%.
The injection pen market consists of sales of injection pens by entities (organizations, sole traders, and partnerships) that 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.
The main product types of injection pens are disposable injection pens and reusable injection pens.Disposable injection pens consisting of a non-replaceable prefilled cartridge which is disposed of after being used.
Reusable injection pens consists of a replaceable cartridge which can be discarded and replaced. Injection pens are used for various thearpies such as diabetes, fertility, osteoporosis, growth hormone therapy, and other therapies by different end-users including home care and hospitals and clinics.
North America was the largest region in the injection pen market in 2021. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The rise in prevalence of diseases such as diabetes and arthritis is contributing to the growth of the injection pen market.Factors such as an increase in the size of the obese population, physical inactivity, unhealthy eating habits, and increasing age lead to an increase in the global prevalence of diabetes.
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.
Technological advancements are a key trend gaining popularity in the injection pen market.Companies in the injection pens 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 2019, Novo Nordisk launched the NovoPen 6 and NovoPen Echo Plus which automatically records the amount of insulin injected, helping patients on multiple daily injections, thus reducing logs, missed dosages, or accidental insulin stacking.
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 molding to expand its presence in the drug delivery device.
Haselmeier is based in Stuttgart, Germany, and was founded in 1920.
The countries covered in the Injection Pen market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06282389/?utm_source=GNW
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