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Injection Pen Market 2024 | Emerging Trends, Key Drivers, Robust Competitive Landscape, Market Share, and Precise Forecast till 2033
Injection Pen Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Injection Pen industry. This report on Injection Pen market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The injection pen market size has grown strongly in recent years. It will grow from $53.79 billion in 2023 to $58.57 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to increase in need for diabetes management, increased patient preference, reduced needle phobia, improved dosage accuracy, increased aging population. The injection pen market size is expected to see strong growth in the next few years. It will grow to $85.75 billion in 2028 at a compound annual growth rate (CAGR) of 10.0%.
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Key Market Players:
Novo Nordisk A/S, Ypsomed Holding AG, Sandoz Inc., Eli Lilly and Company, Merck KGaA, AstraZeneca PLC, F. Hoffmann-La Roche Ltd., Owen Mumford Ltd., Sulzer Ltd.
Market Drivers:
According to the Injection Pen Market Report 2024 by The Business Research Company, the increasing prevalence of obesity is expected to propel the growth of the injection pens market going forward. Obesity is a medical condition characterized by an excess of body fat to the extent that it can have negative effects on a person's health. Injection pens are used for obesity to provide accurate and adjustable dosing for people with medications, including insulin, and also to inject in certain areas of their body for obese people. For instance, in May 2023, according to the Government Digital Service, a UK-based government body, in England, it was projected that 25.9% of individuals (18 years of age and older) were obese in 2021-2022, which has increased by 25.2%. Therefore, the increasing prevalence of obesity is driving the growth of the injection pens market.
More information about the Global Injection Pen Market Report -
https://www.thebusinessresearchcompany.com/report/injection-pen-global-market-report
Market segments for Injection Pen include:
1) By Product Type: Disposable Injection Pens, Reusable Injection Pens
2) By Therapy: Diabetes, Fertility, Osteoporosis, Growth Hormone Therapy, Other Therapies
3) By End Users: Home Care, Hospital & Clinics
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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