Insulin Pens Market by Product and Geography - Forecast and Analysis 2021-2025

The insulin pens market share is expected to increase by USD 3.43 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 8%.

The market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by product (reusable insulin pens and disposable insulin pens) and geography (North America, Europe, Asia, and ROW).

The insulin pens market report also offers information on several market vendors, including Becton, Dickinson and Co., Biocon Ltd., Eli Lilly and Co., Emperra GmbH E-Health Technologies, Innovation Zed Ltd., Medtronic Plc, Nemera, Novo Nordisk AS, Owen Mumford Ltd., and Sanofi SA among others.

Becton, Dickinson and Co. - The company offers insulin pens such as BD Pen Needles and Insulin Syringes. The BD Medical segment offers a range of medication delivery solutions, medication management solutions, diabetes care, and pharmaceutical systems.

What will the Insulin Pens Market Size be During the Forecast Period?

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Parent Market Analysis

Technavio categorizes the global insulin pens market as a part of the global healthcare equipment market. Our research report extensively covers external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.

Insulin Pens Market: Key Drivers, Trends, and Challenges

Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Insulin Pens Market Driver

• One of the key factors driving growth in the insulin pens market is the growing prevalence of diabetes cases. 
• Diabetic patients can often manage their blood sugar levels through physical activities, controlled diet, and medications.
• Diabetic patients have increased health risks such as cardiovascular disorders, vision loss, kidney failure, and amputation. In most cases, before the onset of diabetes, prediabetes sets in. This is considered a serious health condition wherein the blood sugar levels are higher than normal but not high enough yet to be diagnosed as type 2 diabetes. 
• The growing diabetic prevalence is increasing the need for treatment measures, such as the use of insulin pens. This is expected to boost the growth of the market during the forecast period. 

Key Insulin Pens Market Challenge

• The increasing number of product recalls will be a major challenge for the insulin pens market during the forecast period.
• Regulatory bodies or companies recalling products can impact sales and a company's brand image.
• In July 2017 Novo Nordisk initiated the recall of insulin cartridge holders used in a small number of NovoPen Echo batches. This is because they may crack or break if exposed to certain chemicals, such as certain cleaning agents. Using a device with a cracked/broken cartridge holder can result in the device delivering a reduced dose of insulin that could potentially lead to high blood sugar.

This insulin pens market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Insulin Pens Market Value Chain Analysis

Our In-house experts produce extensive information on the value chain and parent market of the market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also optimization and evaluation of business strategies. The players across the value chain include selective data and analysis from entire research findings as per the scope of the report.

Which are the Key Regions for Insulin Pens Market?

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36% of the market’s growth will originate from North America during the forecast period. the US is the key market for insulin pens in North America. Market growth in this region will be faster than the growth of the market in ROW regions.

The insulin pens market in North America is expected to grow at a moderate rate. This is due to the presence of the US and Canada which are the significant revenue contributors in the region. The presence of key vendors in the global insulin pens market in North America has also been driving market growth in the region. Eli Lilly and BD have their headquarters in the US. This will facilitate the insulin pens market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What is the Fastest-Growing Product Segment in the Insulin Pens Market?

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The insulin pens market share growth by the reusable insulin pens segment will be significant during the forecast period. Reusable pens are globally used by patients with diabetes. A reusable insulin pen contains a replaceable insulin cartridge, which can be used multiple times by just replacing the insulin cartridge. The reusability of these devices makes them cost-effective. Furthermore, reusable pens such as NovoPen 4 are significantly easier to use compared with other pens. Also, they have many useful features. For instance, these pens prevent the user from dialling up more insulin than is left in the cartridge, which eliminates the need to inject twice for one dose when an insulin cartridge is running out. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the insulin pens market size and actionable market insights on the post-COVID-19 impact on each segment. 

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What are the Key Data Covered in this Insulin Pens Market Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive insulin pens market growth during the next five years
• Precise estimation of the insulin pens market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behaviour
• The growth of the insulin pens market industry across North America, Europe, Asia, and ROW
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive analysis of factors that will challenge the growth of insulin pens market vendors

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