A recent report published by Infinium Global Research on diabetes injection pens market provides in depth analysis of segments and sub-segments in global as well as regional diabetes injection pens market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional diabetes injection pens market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global diabetes injection pens market. According to report the global diabetes injection pens market is projected to grow at a CAGR of 8.3% over the forecast period of 2018-2024.
Diabetes is a disease in which blood glucose or blood sugar levels are too high. Glucose comes from the foods one eats. Diabetes is one of the most common chronic diseases. According to WHO diabetes was found in nearly 422 million people globally in the year 2014 and is anticipated to reach approximately 642 million by 2040. Diabetes can also be a cause of co-morbidities such as heart disease, stroke, kidney disease, blindness, and other debilitating diseases, thus insulin is very essential element to control the diabetes. As insulin is a protein and hence it cannot be consumed in the form of pill, eventually it must be injected through a syringe, pen, doser or pump. Insulin pen is one of the most popular methods of insulin injection.
Insulin Pen Needles are used in conjunction with an Insulin pen for the injection of insulin. They come in a variety of needle lengths and diameters and are individually wrapped to keep them sterile. Diabetic Insulin pens resembles that of a pen, one use to write. There working is similar to that of insulin syringes. They come in both reusable and disposable version. Reusable models use a cartridge filled with insulin. Disposable pens come pre-filled with insulin. Major advantages of using an insulin pen includes, it has memory storage and it easy & convenient to use.
The increasing demand for next generation insulin pens/ intelligent pens is driving the diabetes injection pen market. , intelligent pens are the most common and preferred for insulin injecting. These pens are simple to use and come in both disposable and reusable version. These pens come with the memory that helps the user to know how long it has been since their last injection. The next generation insulin pens have gone beyond just having a memory. These pens are having built in Bluetooth, allowing patients to track trends & doses and share the data for a more complete management. Furthermore, the next generation insulin pen have improved design that reduces injection force, improved accuracy and ease of use. However lengthy process of governmental approvals for new products launches acts as a barrier for the market growth. Ease in new product approvals and mergers & acquisition can create growth opportunities for diabetes injections pens market in near future.
Geographically, North America accounted for the largest market share in 2017, followed by Europe. Presence of Major Medical Devices Company and presence of specialty clinics for diabetic’s management in these two regions have driven the growth in these regions over the past couple of years. Furthermore increase awareness about diabetes self-management education would also augment market growth. The Asia-Pacific region is projected to grow at a swifter rate compared to other regions, on the backdrop of propelling per capita healthcare expenditure, growing healthcare infrastructure and rising awareness level about the usage of injection pens in the primary markets of Asia-Pacific such as India, China and South East Asian countries.
The report on global diabetes injection pens market covers segments such as, product type, usage and distribution channel. On the basis of product type the global diabetes injection pens market is categorized into insulin pens and pen needles. On the basis of usage the global diabetes injection pens market is categorized into reusable and disposable. On the basis of distribution channel the global diabetes injection pens market is categorized into hospital pharmacy, retail pharmacy, online sales and diabetes clinics.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section the key trends and market size for each geography is provided over the period of 2016-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global diabetes injection pens market such as, Sanofi S.A, Becton, Dickinson and Company, Medtronic Plc., Owen Mumford Ltd, Novo Nordisk A/S,, Eli Lilly and Company, AstraZeneca plc, Jiangsu Delfu Co., Ypsomed Holding AG., Insulet Corporation and Biocon Ltd.
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global diabetes injection pens market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of diabetes injection pens market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the diabetes injection pens market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. This report will help manufacturers, suppliers and distributors of the diabetes injection pens market to understand the present and future trends in this market and formulate their strategies accordingly.
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