Dublin, January 20 2022– (BUSINESS WIRE) – The Insulin Pens Market report has been added to ResearchAndMarkets.com Show.
According to the publisher, the demand for insulin pens is expected to rise significantly in the next decade, which will enable the market to surpass a valuation of US$30,407.5 million by the end of 2021.
Diabetics use insulin pens to avoid problems including cardiovascular disease that may arise from this lifestyle disease. To overcome the problems associated with traditional methods of insulin administration, insulin pens make the process easier and faster.
According to the World Health Organization, around 1.2 million deaths from diabetes occurred in 2019 globally. To reduce the number of deaths or suffering due to diabetes, it is essential to develop innovative technologies and products to treat and maintain diabetes.
Type 2 diabetes is common, but it can be prevented or delayed by following a healthy diet, engaging in constant physical activity, maintaining a standard body weight, and avoiding tobacco use. Diabetes can be treated or managed with medication and regular checkups and treatment. Increasing focus on innovative medical products and research is increasingly causing diabetes patients to move towards the insulin pen.
The leading manufacturers of insulin pens market are consolidating their position in the market by collaborating with various health and research organizations. Governments in developed and developing countries are taking active initiatives to encourage innovative medical products.
For example, in November 2020, Medtronic introduced a compact CGM insulin delivery smart pen to administer insulin injections in multiple daily doses. Similarly, Insulet has expanded its OmipodDASH offering to other countries such as Sweden, Finland, Norway and Denmark.
Key Takeaways from Insulin Pen Services Market Study
Reusable insulin pens are expected to represent over 49% of the global market share by 2031, supported by a growing base of environmental and cost-conscious consumers.
Hospital pharmacies will capture 33.8% of the market share in 2031. An increased flow of patients for treatment and intensive care support is fueling growth.
The US is expected to be the fastest growing regional market with a CAGR of 5.6% through 2021-2031 due to the maturity of the country’s healthcare sector.
The UK and Germany are the leading markets in Europe, accounting for more than 18% and 25% in 2021.
China is the largest and fastest growing market in East Asia, recording a compound annual growth rate of 4.7% through 2031.
Australia leads the Oceania market, accounting for more than 85% of insulin pen revenue in 2021.
Who’s the winner?
The global market for insulin pens is set to expand due to the increasing prevalence of type 1 and type 2 diabetes. The leading organizations in the market are set to focus on research and development to provide early and accurate diagnosis of this disease, along with effective patient care.
Some of the leaders in the insulin pens market include but are not limited to NovoNordisk A/S, Sanofi, Eli Lilly, Diamesco Co., Ltd. and BigFoot Biomedical, Inc, Medtronic plc, Emperra GmbH E-Health Technologies, YpsoMed AG, and DUKADA Aps.
Main topics covered:
1. Executive Summary
2. Market Overview
3. Main market trends
4. Market background
5. Market context
6. COVID19 Crisis Analysis
7. Global Insulin Pen Market Size Analysis and Forecast 2016-2020, 2021-2031
8. Global Insulin Pen Market – Pricing Analysis
9. Global Insulin Pen Market Value Analysis and Forecast 2016-2020, 2021-2031
10. Global Insulin Pen Market Analysis 2016-2020 and Forecast 2021-2031, By Product Type
11. Global Insulin Market Analysis 2016-2020 and Forecast 2021-2031, By Reference
12. Global Insulin Pen Market Analysis 2016-2020 and Forecast 2021-2031, By Distribution Channel
13. Global Insulin Market Analysis 2016-2020 and Forecast 2021-2031, By Region
14. North America Insulin Pen Market Analysis 2016-2020 and Forecast 2021-2031
15. Latin America Insulin Market Analysis 2016-2020 and Forecast 2021-2031
16. Europe Insulin Market Analysis 2016-2020 and Forecast 2021-2031
17. South Asia Insulin Pen Market Analysis 2016-2020 and Forecast 2021-2031
18. East Asia Insulin Pen Market Analysis 2016-2020 and Forecast 2021-2031
19. Oceania Insulin Market Analysis 2016-2020 and Forecast 2021-2031
20. Middle East and Africa Insulin Pens Market Analysis 2016-2020 and Forecast 2021-2031
21. Insulin Pen Market Analysis in Key and Emerging Countries 2016-2020 and Forecast 2021-2031
22. Market Structure Analysis
23. Competition analysis
24. Assumptions and acronyms used
25. Research Methodology
For more information on this report, visit https://www.researchandmarkets.com/r/qa4nj7
View the source version on businesswire.com: https://www.businesswire.com/news/home/20220120005925/ar/
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