High Prevalence of Diabetes and Increasing Funding for R&D to Augment Growth of Injection Pen Market
High prevalence of diabetes is expected to propel growth of the injection pen market. For instance, according to the study, “Global and regional diabetes prevalence estimates for 2019 and projections for 2030 and 2045: Results from the International Diabetes Federation Diabetes Atlas, 9th edition”, published in the journal Diabetes Research and Clinical Practice, in September 2019, 463 million people are expected to suffer from diabetes in 2019 worldwide and the number is expected to reach 578 million by 2030 and 700 million by 2045. Increasing funding for R&D is expected to offer lucrative growth opportunities for players in the injection pen market . For instance, in September 2019, Emergent BioSolutions Inc., a specialty biopharmaceutical company, received around US$ 20 million to develop and manufacture an auto-injector containing diazepam (5 mg/mL) for the treatment of nerve agent-induced seizures. Moreover, integration of Continuous Glucose Monitor (CGM) data w...