Global Insulin Pens Market is valued approximately at USD 51.5 million in 2019 and is anticipated to grow with a healthy growth rate of more than 10.7% over the forecast period 2020-2027. Insulin pens are growing in popularity, and many patients with diabetes are using this pen to administer or regulate insulin level. These pens allow more simple, precise, and accessible delivery than using a syringe and vial. More often, few individuals are preferring insulin pens as a way to make taking insulin less intrusive and inconvenient. Also, its low-cost availability increases its affordability and demand amongst different age group of individuals. Most of the pens consist of two categories, such as reusable and disposable insulin pens. Pre-filled insulin pen is a sort of disposable pen which are preferred by individual for insulin infusion. Insulin pen needles are compact-sized and thinner than syringes. Rise in prevalence of diabetes and obesity among individuals, along with growing government support and reimbursement policy for diabetes management are the few factors responsible for the high CAGR of the market during the forecast period. According to the International Diabetic Federation (IDF), globally, the number of patients with diabetes estimated around 463 million whose aged between 20-79 years in 2019, and likely to grow almost 700 million by the year 2045. Indeed, more than 60% of the persons with diabetes living across Asia and the Western Pacific region. This, in turn, is likely to strengthen the demand for insulin pens, thereby contributing to the market growth around the world. However, the lack of proper knowledge over the dosage levels and strict government regulation concerning patient safety are the prime factors restraining the market growth over the forecast period of 2020-2027.
The regional analysis of the global Insulin Pens market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the presence of large patients pool of diabetes, along with the wide presence of market vendors in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the rise in growing government programs for obesity and diabetes management, coupled with improving healthcare infrastructure in the developing nations, such as China and India, are the few factors creating a lucrative opportunity for the growth of the Insulin Pens market in the Asia-Pacific region.
Major market player included in this report are:
Becton, Dickinson and Company
Nova Nordisk, Inc.
Vogt Medical Vertrieb GmbH
MedExel Co., Ltd.
Owen Mumford Ltd.
Perrigo Diabetes Care, LLC
Eli Lilly and Company
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Insulin Pens Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers