Global Insulin Pen Market | RationalStat

Robust assessment of various factors including industrial performance, industry players’ expenditures, economic

Robust assessment of major investments made by various industry players along with key application areas, technological

Global Insulin Pen Market

Analysis & Forecast, 2019-2028

10.2.5. Asia Pacific

10.2.6. Middle East & Africa

11. Parent Market Overview: Global Medical Devices Market

12. Segmental Analysis

12.1. Global Insulin Pen Market by Type

12.1.1. Segment Overview

12.1.1.1.Conventional Insulin Pen

12.1.1.2.Smart Insulin Pen

12.2. Global Insulin Pen Market by Product Type

12.2.1. Segment Overview

12.2.1.1.Reusable Pen

12.2.1.2.Disposable Pen

12.3. Global Insulin Pen Market by Diabetes Type

12.3.1. Segment Overview

12.3.1.1.Diabetes Type 1

12.3.1.2.Diabetes Type 2

12.4. Global Insulin Pen Market by Distribution Channel

12.4.1. Segment Overview

12.4.1.1.Hospital Pharmacies

12.4.1.2.Conventional Retail Pharmacies

12.4.1.3.Online Pharmacies

12.5. Global Insulin Pen Market by End User

12.5.1. Segment Overview

12.5.1.1.Hospitals

12.5.1.2.Clinics

12.5.1.3.Homecare Settings

12.6. Global Insulin Pen Market by Region

12.6.1. North America

12.6.2. Latin America

12.6.3. Western Europe

12.6.4. Eastern Europe

12.6.5. Asia Pacific

12.6.6. Middle East & Africa

13. Regional Analysis

13.1. North America Insulin Pen Market Analysis and Forecast 2019-2028

13.1.1. Regional Market Overview and Key Takeaways

13.1.2. North America Insulin Pen Market by Type

13.1.3. North America Insulin Pen Market by Product Type

13.1.4. North America Insulin Pen Market by Diabetes Type

13.1.5. North America Insulin Pen Market by Distribution Channel

13.1.6. North America Insulin Pen Market by End User

13.1.7. North America Insulin Pen Market by Country

13.1.7.1.US

13.1.7.2.Canada

13.2. Latin America Insulin Pen Market Analysis and Forecast 2019-2028

13.2.1. Regional Market Overview and Key Takeaways

13.2.2. Latin America Insulin Pen Market by Type

13.2.3. Latin America Insulin Pen Market by Product Type

Analysis & Forecast, 2019-2028

13.2.4. Latin America Insulin Pen Market by Diabetes Type

13.2.5. Latin America Insulin Pen Market by Distribution Channel

13.2.6. Latin America Insulin Pen Market by End User

13.2.7. Latin America Insulin Pen Market by Country

13.2.7.1.Brazil

13.2.7.2.Mexico

13.2.7.3.Rest of Latin America

13.3. Western Europe Insulin Pen Market Analysis and Forecast 2019-2028

13.3.1. Regional Market Overview and Key Takeaways

13.3.2. Western Europe Insulin Pen Market by Type

13.3.3. Western Europe Insulin Pen Market by Product Type

13.3.4. Western Europe Insulin Pen Market by Diabetes Type

13.3.5. Western Europe Insulin Pen Market by Distribution Channel

13.3.6. Western Europe Insulin Pen Market by End User

13.3.7. Western Europe Insulin Pen Market by Country

13.3.7.1.Germany

13.3.7.2.UK

13.3.7.3.France

13.3.7.4.Spain

13.3.7.5.Italy

13.3.7.6.Benelux

13.3.7.7.Nordic

13.3.7.8.Rest of Western Europe

13.4. Eastern Europe Insulin Pen Market Analysis and Forecast 2019-2028

13.4.1. Regional Market Overview and Key Takeaways

13.4.2. Eastern Europe Insulin Pen Market by Type

13.4.3. Eastern Europe Insulin Pen Market by Product Type

13.4.4. Eastern Europe Insulin Pen Market by Diabetes Type

13.4.5. Eastern Europe Insulin Pen Market by Distribution Channel

13.4.6. Eastern Europe Insulin Pen Market by End User

13.4.7. Eastern Europe Insulin Pen Market by Country

13.4.7.1.Russia

13.4.7.2.Poland

13.4.7.3.Rest of Eastern Europe

13.5. Asia Pacific Insulin Pen Market Analysis and Forecast 2019-2028

13.5.1. Regional Market Overview and Key Takeaways

13.5.2. Asia Pacific Insulin Pen Market by Type

13.5.3. Asia Pacific Insulin Pen Market by Product Type

13.5.4. Asia Pacific Insulin Pen Market by Diabetes Type

13.5.5. Asia Pacific Insulin Pen Market by Distribution Channel

13.5.6. Asia Pacific Insulin Pen Market by End User

13.5.7. Asia Pacific Insulin Pen Market by Country

13.5.7.1.China

13.5.7.2.Japan

13.5.7.3.India

13.5.7.4.South Korea

13.5.7.5.Australia

13.5.7.6.ASEAN

13.5.7.7.Rest of Asia-Pacific

13.6. Middle East & Africa Insulin Pen Market Analysis and Forecast 2019-2028

13.6.1. Regional Market Overview and Key Takeaways

13.6.2. Middle East & Africa Insulin Pen Market by Type

13.6.3. Middle East & Africa Insulin Pen Market by Product Type

13.6.4. Middle East & Africa Insulin Pen Market by Diabetes Type

13.6.5. Middle East & Africa Insulin Pen Market by Distribution Channel

13.6.6. Middle East & Africa Insulin Pen Market by End User

13.6.7. Middle East & Africa Insulin Pen Market by Country

13.6.7.1.GCC

13.6.7.2.South Africa

13.6.7.3.Turkey

13.6.7.4.Rest of the Middle East & Africa

*List not exhaustive (Players can be added or replaced as per the customization).

The high prevalence of diabetes is increasing the demand

The demand for insulin pens is driven significantly by the increasing population of individuals diagnosed with type 1 diabetes who require regularinsulininjections.Globally,the growingpatientpooloftype1diabetes plays a major role in driving this demand. According to the International Diabetes Federation, in 2021, there were 537 million individuals living with diabetes worldwide.Thisnumberisprojectedto reach643millionby2030,indicatinga growth rate of approximately 20%. With such a large and expanding patient base, the demand for insulin pens is expected to be significant as these devices provide a convenient andefficientmethodforadministering insulin to manage the condition effectively

Reusable pens are expectedtogainsignificant traction

The insulin pen market analysis considers two primary product types: reusable insulin pens and disposable insulin pens. As the name suggests, a disposableinsulinpenisaprefilledpen designed for single use and discarded afteruse.Ontheotherhand,reusable pens accommodate pen fills or cartridges, allowing for repeated usage.However,it'simportanttonote that the needles on reusable pens mustbereplacedregularlytomaintain safety and effectiveness. In the market,reusablepensareprojectedto experience notable growth, primarily due to the increasing number of environmentally conscious consumers whoprioritizesustainability.

Asia Pacific to witness lucrative growth in the globalinsulinpenmarket

Duringtheforecastperiod,substantial growth will be anticipated in the Asia Pacific region. The demand for insulin pensissettorisesignificantlyinmajor countries like India and China. This growth can be primarily attributed to the region's large population of diabetic patients. According to the International Diabetes Federation, India has the second-highest number of people with diabetes globally, closely following China, with 141 million individuals affected. India also has a considerable number of adults (40 million) with Impaired Glucose Tolerance (IGT), putting them at a heightened risk of developing type 2 diabetes. This figure represents the second-highest globally as well. Alarmingly, more than half (53.1%) of people living with diabetes in India remainundiagnosed.

This lack of detection or inadequate treatment of diabetes can lead to severe and life-threatening complications,includingheartattacks, strokes, kidney failure, blindness, and lower-limbamputations.

Marketstructureand competitivelandscape

Players operating in the global insulin pen market focus on collaborations, acquisitions, and partnerships. Players areadoptingvariousstrategiestogain a competitive edge and first-mover advantageinthemarket.

Accordingto theRationalStat analysis, prominent players contributing significantly to the global insulin pen market include Novo Nordisk A/S, Sanofi S.A., Eli Lilly and Company, Medtronicplc,B.BraunHoldingGmbH & Co. KG, Owen Mumford Ltd., YpsoMed AG, Biocon Limited, Terumo MedicalCorporation,amongothers.

The high prevalence of diabetes is increasing the demand for insulin pens globally.

The market is expected to grow at a CAGR of 7.3%, driven by increasing patient pool of type 1 diabetes

Source: RationalStat Analysis

Sourcesconsideredforthereport

Primary Sources

• Extensive primary interviews were conducted during the research study. Over 120 industry specialists were contacted while conducting the research study to gather market insights. The primary interviews have been conducted with specialists across the value chain ranging from the service providers to end users, across the globe

Secondary Sources

• Annual reports, company filings, investor presentations, product catalogs, white papers, research reports, trade fairs, Robotic Industries Association, International Federation of Robotics, and company documents.

• Available industry and market-related documents in the public domain.

• Paid database including Bloomberg, Factiva, S&P Capital IQ, FactSet, Refinitiv Eikon, ICIS, EUWID, Thomson Reuters, among others.

• Whitepapers, research papers, and industry blogs

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