Research Nester released a report titled “Diabetes Disposable Insulin Pen Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the global diabetes disposable insulin pen market in terms of market segmentation by type of diabetes, by capacity, by needle type, by distribution channel, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Disposable insulin pens eliminate the risk of infections as they are single-use devices containing pre-filled insulin. Once the insulin is injected into the body, the pens are disposed of. Insulin pens have recently gained popularity on account of their user-friendly nature. The market for disposable insulin pens is anticipated to grow at a significant CAGR over the forecast period, i.e., 2020-2028. The market is segmented by type of diabetes, by capacity, by needle type, by distribution channel, by application and by region. On the basis of type of diabetes, the market is segmented into type I diabetes and type II diabetes. According to the International Diabetes Federation, the percentage of people with type II diabetes has been growing at a high rate in various countries. As a result of this, the demand for insulin for type II diabetes is predicted to increase, therefore raising the market growth.
Based on region, the disposable insulin pen market in segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The market in North America holds the largest share in disposable insulin pen market on the back of rising medical innovations in the healthcare industry in countries such as the United States. The market in Europe is estimated to hold the second largest share in the market over the forecast period. This can be attributed to the growing customer demand, technological advancements and various initiatives by the governments that support the market growth. On the other hand, the market in Asia Pacific is anticipated to grow at the highest rate in the coming years on account of rising diabetes patient population in the region, mainly in China, India and Japan.
Rising Incidences of Type I and Type II Diabetes to Propel Market Growth
The unhealthy lifestyles of people across major parts of the world is a significant factor responsible for the growing cases of diabetes, especially among the elderly population. The escalating demand for effective insulin therapies for the treatment of diabetes type I and type II is another major factor leading to the development of disposable insulin pens. These pens ensure a faster, safer and easy-to-use method of insulin delivery while eliminating the risk of infections. However, the high cost associated with disposable insulin pens as compared with reusable insulin pens is estimated to hinder the market growth in the upcoming years.
This report also provides the existing competitive scenario of some of the key players of the global diabetes disposable insulin pen market which includes company profiling of Novo Nordisk (CPH: NOVO-B), Eli Lilly (NYSE: LLY) and Sanofi SA (EPA: SAN). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global diabetes disposable insulin pen market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.