Global Insulin Pens Market is expected to reach $10.1bn by 2031 growing at a CAGR of 6.7% between 2021 and 2031.
Global Insulin Pens report from Global Insight Services is the single authoritative source of intelligence on Insulin Pens market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
An insulin pen is an infusion device used to infuse insulin into diabetic patients. Patients suffering from type 1 diabetes prefer insulin pens for their management. Insulin pen overtures simpler administration of insulin into the body. It provides more precise dosages and less pain compared to vials and syringes and is also preferred by clinicians and patients.
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Market Players of Global Insulin Pens Market
The key players of global insulin pens market are B. Braun Melsungen AG, Eli Lilly and Company, Artsana S.p.A., BD, Sanofi, Owen Mumford Ltd., Ypsomed AG, TERUMO CORPORATION, HTL-Strefa, Biocon, Julphar and Novo Nordisk among others.
Market Segmental Analysis
Insulin Pens Market by Product Type
The various product types comprised in the global insulin pens market are reusable insulin pens and disposable insulin pens. The reusable insulin pen segment is also sub-segmented into refillable pens, Bluetooth-connected smart insulin pens, USB-connected smart insulin pens, and cartridges.
Insulin Pens Market by Indication
The various indications comprised in the global insulin pens market are type 1 diabetes and type 2 diabetes.
Type 1 diabetes is expected to dominate the insulin pens market at a constant rate of XX% during the forecast period. The rising prevalence of diabetes in the various age groups is an essential factor boosting the growth of the market. Adding to that, increasing R&D activities are also refueling the growth of the market.
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Market Drivers
Increasing prevalence of diabetes across the globe
Diabetes is a chronic disease that occurs either when the pancreas is unable to synthesize enough insulin or when the body cannot effectively use the insulin prepared by it. Insulin is a hormone that regulates blood sugar. Hyperglycaemia is a common effect of uncontrolled diabetes and over time leads to serious damage to many of the body’s systems, majorly the nerves and blood vessels. In 2014, 8.5% of adults aged 18 years and older had diabetes. In 2019, diabetes was the direct cause of 1.5 million deaths and 48% of all deaths occurred before the age of 70 years. Between 2000 and 2016, there was a 5% increase in premature mortality rates (i.e., before the age of 70) from diabetes. In high-income economies, the premature mortality rate due to diabetes decreased from 2000 to 2010 but then increased from 2010-to 2016. Likewise, in lower-middle-income economies, premature mortality owing to diabetes raised across both periods.
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