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3. Novo Nordisk A/S (Denmark) and Eli Lilly and Company (US) are Leading Players in the Injection Pen Market

“The global injection pen market is projected to reach USD 74.1 billion by 2030 from USD 47.0 billion in 2024, at a CAGR of 7.9% during the forecast period.”

The global upsurge in prevalence of chronic disease, growth in geriatric populations, favourable reimbursement scenario and increasing government support to improve the access of injection pens, rising technological advancements and new product launches by key players are anticipated to propel the injection pen market growth during the forecast period. However, stringent regulatory requirements become barriers to growth of injection pens among healthcare providers and patients. Additionally, lack of training and education among patients and risk of injection site reactions pose a significant challenge to market players.

To know about the assumptions considered for the study download the pdf brochure

Some of the   prominent players operating in the market include include Novo Nordisk A/S (Denmark), Eli Lilly and Company (US), Sanofi (France), Ypsomed Holding AG (Switzerland), Becton, Dickinson and Company (US), Merck KGaA (Germany), AstraZeneca (UK), Owen Mumford (UK), Heselmeier (Germany), Sun Pharmaceutical Industries Ltd. (India), Pfizer Inc. (US), Biocon (India), Lupin (India), Wockhardt Ltd. (India) and Medtronic (Ireland).

NOVO NORDISK A/S (DENMARK)

Novo Nordisk is one of the leading players and held the first position in the injection pen market in 2023. The Diabetes Care segment of Novo Nordisk is the largest and fastest-growing business which provides reusable injection pens. It also offers injection pens for growth hormone and other therapies. Due to growing demand of its insulins that is used in injectable devices, the company is beholding upswing in the sale of its insulin pens and supplies. The company has wide distribution and production facilities in more than 75 countries and markets its products in more than 180 countries. Increased investments in R&D have aided the company to maintain its sustainable position in the market by launching various innovative products.

ELI LILLY AND COMPANY (US)

Eli Lilly and Company is a key player and held the second position in the global injection pen market in 2023. The company is strongly focused on research and development activities, with robust clinical-stage pipeline of biologics. The company manufactures, develops, and sells medicines and drug delivery products in various therapeutic areas. The company offers customized injection systems for biotechnology and pharmaceutical companies focused on diabetes, growth disturbances, and other therapeutic areas. To cater customer needs with easier injection experience the company is launching new products in the market. It was the first company to launch a digital insulin pen named HumaPen. The company operates in 14 countries and markets its products in 125 countries. It focuses on strengthening its presence in emerging countries to boost its sales.

SANOFI (FRANCE)

Sanofi held the third position in the global injection pen market in 2023. The company provides injection pens for various insulin formulations, such as Lantus, Toujeo, Insuman, and Lyxumia. Sanofi operates through independent distribution channels. The company strongly focuses on increasing R&D expenditure, geographical expansions and product launches to maintain its position. Sanofi has nearly 100 manufacturing sites in 41 countries and offers healthcare solutions in more than 170 countries. The company has four R&D sites across Europe, North America, and Asia.

Related Reports:

Injection Pen Market by Type (Disposable and Reusable Pens), Therapy (Diabetes Therapy (Insulin, GLP-1), Growth Hormone Therapy, Osteoporosis, obesity, fertility), End User (Homecare and Hospitals & Clinics), and Region - Global Forecast to 2030

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
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