Injection Pen Market Size, Share, Growth Analysis, By Type(Disposable Injection Pens, Reusable Injection Pens), By Therapy(Diabetes (Insulin, Glucagon-Like Peptide-1), Growth Hormone Therapy, Osteoporosis), By End User(Home Care Settings, Hospitals & Clinics), By Region - Industry Forecast 2024-2031

Global Injection Pen Market size was valued at USD 45 billion in 2022 and is poised to grow from USD 48.57 billion in 2023 to USD 89.43 billion by 2031, growing at a CAGR of 7.93% during the forecast period (2024-2031).

Growing rates of chronic illnesses including diabetes and cancer, as well as an increase in the number of elderly people, are the main drivers of the global injection pen market. Thus, the two main reasons propelling the growth of the global injection pen market are the rise in awareness of self-injectable devices and the incidence of chronic diseases. Additionally, the primary driver of market expansion is the growing use of reusable injectable pen with improved technology among diabetic patients. For example, Medtronic Plc introduced the InPen, a reusable smart injectable pen for diabetics, in 2020. 

The pen estimates the number of carbs in meals and computes insulin dosages using Bluetooth technology. Reciprocating that market share of injection pen is also contributing due to the increasing usage of automated injection pen. Healthcare providers increasingly favor automated injection pen as they can administer medication to patients accurately, safely, and conveniently. Due to the rapidly growing number of elderly people who are more susceptible to chronic illnesses like diabetes and cancer, the need for injectable pen is not just in developed nations but is also being seen in developing nations. These are the elements that drive the market expansion.