- Report ID: BMRC 300 | Number of pages: 201 | Publish Date: Nov -0001
Status: Published | Category: Healthcare | Delivery Timeline:
Global Diabetes Insulin Delivery Pens Market is valued at USD 3868.4 Million in 2018 and expected to reach USD 6847.6 Million by 2025 with the CAGR of 8.50% over the forecast period. - Rising awareness about advanced insulin delivery devices among diabetic patients will augment the demand for diabetes insulin delivering pens.
Insulin pens are gaining popularity and many people with diabetes nowadays use a pen to administer insulin. This pen allows more simple, accurate, and convenient delivery than using a viral and syringe. Insulin pen is defined as a type of insulin injection device which is somewhat larger in size than the pen, insulin refill in the pen. Insulin pen is easy to carry and can conveniently be fit with specific refill filled with insulin. It also avoids the patient from the cumbersome procedure of extraction with a syringe from the insulin bottle, thereby, reduces embarrassment in public and supplies convenience for poor vision and even blindness sufferers. Diabetes is a significant health condition that is rapidly growing among the world population; therefore, the adoption of smart insulin pens is necessary for safe and effective control of insulin to people who have diabetes.
Global diabetes insulin delivery pens market report is segmented on the basis of type, application, end-users and region & country level. Based on type, global diabetes insulin delivery pens market is classified as reusable insulin pens and disposable insulin pens. Based upon application, global diabetes insulin delivery pens market is classified into hospital & clinic, retail pharmacy, and online sales. Based upon end-users, global diabetes insulin delivery pens market is classified into hospitals & clinics, ambulatory surgical centers and home care settings.
The regions covered in this diabetes insulin delivery pens market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of diabetes insulin delivery pens is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Global Diabetes Insulin Delivery Pens market report covers prominent players like Sanofi, Eli Lilly, Bigfoot Biomedical, Medtronic, Novo Nordisk, Insulet Corporation, Becton, Dickinson and Company (BD), Roche, Ypsomed, Wockhardt, B. Braun and others.
Increasing obese population is a major factor responsible for the growth of the insulin delivery pens market. Obesity leads to a high risk of medical conditions such as hypertension, type 2 diabetes, and cardiovascular problems. Countries across the globe are witnessing a sharp increase in the number of people with obesity, which, in turn, is resulting in increased prevalence of diabetes, further increase the demand of insulin infusion devices for its management. According to the World Health Organization (WHO), around 2.8 million people die every year as a result of obesity or being overweight, and approximately 44% of the diabetes cases reported globally is due to obesity or excess weight. Additionally, the advanced methods for insulin delivery include minimum invasiveness in an enhanced manner; reducing patient’s burden will positively affect the market growth over the forecast period. However, high cost of insulin delivery devices and lack of insurance coverage in developing countries may hamper the market expansion in the near future.
North America is expected to dominate the global diabetes insulin delivery pens market. The growth of the regional segment is primarily driven by growing diabetic population and the conveniences of technologically advanced devices are the major factors contributing to the growth of the market in North America. According to the Centers for Disease Control and Prevention, in 2015, approximately 30.3 million people or 9.4% of the total population of the U.S. suffered with diabetes. In addition, according to the Diabetes UK, in 2016, approximately 3.6 million people were diagnosed with diabetes. Hence, increase in diabetics is expected to have a positive impact on the market in this region.
Asia Pacific is expected to emerge as the fastest growing regional market due to rising awareness about advanced technology available for treatment of diabetes and favorable reimbursement policies are the major factors expanding the Asia Pacific insulin delivery pens market.
By Regional & Country Analysis:
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Diabetes Insulin Delivery Pens Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2019-2025