South America Injection Pen Market

The South America injection pen market is expected to grow from US$ 2,389.84 million in 2022 to US$ 3,467.89 million by 2028. It is estimated to register a CAGR of 6.4% from 2022 to 2028.

Increase in Strategic Developments in South America Injection Pen Market

The injection pen market is characterized by the presence of various market players. To increase their market share, market players take up various strategies such as product launches, regional expansion, and technological advancements. Leading players invest in R&D to develop advanced technologies and gain more revenue.

A few recent developments related to injection pens are mentioned below:

In May 2022, FDA approved Lilly's Mounjaro injection, the first and only glucose-dependent insulinotropic polypeptide (GIP) and glucagon-like peptide-1 (GLP-1) receptor agonist for the treatment of type 2 diabetes in adults. Mounjaro is available in six doses (2.5 mg, 5 mg, 7.5 mg, 10 mg, 12.5 mg, and 15 mg) and comes in Lilly's well-established auto-injector pen with a pre-attached, hidden needle.

In January 2022, SHL Medical partnered with Innovation Zed for connected pen injector solutions. It launched InsulCheck DOSE, a connected add-on device that transforms traditional pen injectors into smart solutions to support the monitoring of disease management regimens.

In May 2021, Lilly collaborated internationally with leading diabetes technology companies to integrate connected insulin pen solutions for people with diabetes. The company signed strategic international agreements with four companies—DexCom, Inc.; Glooko Inc.; myDiabby Healthcare; and Roche—to advance connected solutions and streamline care for people suffering from diabetes.

Therefore, all the above-mentioned recent developments are driving the South America injection pen market.

South America Injection Pen Market Overview

The injection pen market in South America is segmented into Brazil, Argentina, and the Rest of South America. Growth of the South America injection pen market is attributed to the increasing incidence of diabetes and infertility and product development activities undertaken by major market players. According to the International Diabetes Federation (IDF), ~16.8 million people aged 20–79 have diabetes, and the number is expected to increase by 55% by 2045. ~90% of all diabetes diagnoses are type 2 diabetes. Further, according to the IDF, children and adolescents in Brazil aged 0–14 rank third in the global panorama of type 1 diabetes, with 55,500 cases. BIOMM, a biopharmaceutical company headquartered in Brazil, is the fourth-largest producer of insulin in the world; it is the largest producer in the country. In July 2021, BIOMM announced signing a commercialization agreement with Nemera to market the Advapen reusable pen injector for the treatment of diabetes with the Glargilin insulin. BIOMM will market the product under the trade name Lifepen in the Brazilian market.

South America Injection Pen Market Revenue and Forecast to 2028 (US$ Million)

South America Injection Pen Strategic Insights

Strategic insights for the South America Injection Pen provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

South America Injection Pen Report Scope

South America Injection Pen Regional Insights

The geographic scope of the South America Injection Pen refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

The South America injection pen market is segmented on the basis of type, therapy, end user, and country. Based on type, the injection pen market is segmented into disposable injection pens and reusable injection pens. The disposable injection pens segment registered a larger market share in 2022.

Based on therapy, the South America injection pen market is segmented into diabetes therapy, growth hormone therapy, autoimmune diseases therapy, fertility therapy, cancer therapy, and others. The diabetes therapy segment registered the largest market share in 2022.

Based on end user, the South America injection pen market is segmented into hospitals & clinics, home care, and others. The home care segment registered the largest market share in 2022.

Based on country, the South America injection pen market is segmented into Brazil, Argentina, and the Rest of SAM. Brazil dominated the market in 2022.

AstraZeneca Plc, Becton Dickinson and Co, Eli Lilly and Co, Gerresheimer AG, Haselmeier GmbH, Merck KGaA, Novo Nordisk AS, Owen Mumford Ltd, Sanofi SA, and Teva Pharmaceutical Industries Ltd are among the leading companies operating in the South America injection pen market.