Injection Pen Market is anticipated to grow at a Robust CAGR of 7.2% during the forecast period 2022-2031

The injection pen market was valued at USD 37.8 billion in 2021 and it is anticipated to grow further to USD 75.7 billion by 2031, at a CAGR of 7.2% during the forecast period.

The medication is injected into the body using injection pens. They are employed to administer insulin to the patient. Patients can adhere to the prescribed treatment plan with the aid of injectable pens. This method has assisted in enhancing the patient's quality of life and lowering healthcare costs. The injection pen approach is a self-management treatment option for multiple sclerosis and diabetes that is widely used by top pharmaceutical businesses as a drug delivery system. An injection pen has an insulin cartridge, a disposable pen, a needle, and a dial for dosage measurement.

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Market Trends and Drivers:

In recent years, there has been a dramatic rise in the prevalence of chronic illnesses. Multiple sclerosis, diabetes, osteoporosis, cardiovascular disease (CVD), and other illnesses call for the administration of injectable medications on a daily or weekly basis. Due to the frequent drug administration, injector pens are the best choice for chronic disorders. Injection pens have become the new standard for injectable medicine delivery methods. Their ease of use, dependability, and capacity to be provided by the patient alone without the assistance of a doctor have caused their popularity to grow. In order to effectively manage the expanding patient population and improve patient compliance with therapies, injectable pen technologies have come under more scrutiny as a result of the rising prevalence of chronic diseases.

COVID-19 Impact:

In individuals with COVID-19, diabetes has been directly linked to disease severity and mortality. This fact is supported by the rising morbidity and mortality rates that have been associated with inflammation, hypercoagulation, and weakened immune systems. Both hypoglycemia and hyperglycemia are indicators of worse outcomes in individuals who are hospitalized. To lessen the risk of severe COVID-19, individuals with diabetes and SARS-CoV-2 infection should strive for optimal glycemic management. With regard to treating asymptomatic and non-critically ill COVID-19 diabetic patients, both insulin and GLP-1RAs have demonstrated excellent glucose-lowering and anti-inflammatory benefits in type 2 diabetes patients.

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The COVID-19 pandemic had no effect on the market for injectable pens. Patients who were already utilizing injectable pens for a variety of medicines kept doing so throughout the pandemic. However, mobility limitations, closed borders, and a drop in overall trade damaged the supply chain for injection pens. Patients with COVID-19 infection who underwent therapy have a greater risk of developing diabetes. Therefore, if the prevalence of diabetes rises, so will the demand for injectable pens.

Major Players in the Global Injection Pen Market:

The major players studied in the market are Novo Nordisk A/S (Denmark), Becton, Dickinson and Company (US), Ypsomed Holding AG (Switzerland), Sanofi (France), Eli Lilly and Company (US), Merck KGaA (Germany), AstraZeneca plc (UK), F. Hoffmann-La Roche Ltd. (Switzerland), Owen Mumford (UK), Sulzer Ltd. (Switzerland), Sun Pharmaceutical Industries Ltd. (India), Pfizer (US), Biocon Ltd. (India), Lupin Ltd. (India), and Wockhardt Ltd. (India) among others.

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