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The insulin syringes market size is forecast to increase by USD 388 million, at a CAGR of 4.5% between 2024 and 2028. The insulin syringes market is experiencing significant growth due to the rising global burden of diabetes. According to the International Diabetes Foundation, approximately 463 million adults were living with diabetes in 2019, and this number is projected to increase to 700 million by 2045. Favorable government initiatives, such as the Affordable Care Act in the United States and the National Diabetes Mission in India, are driving increased access to diabetes care, including insulin therapy. Furthermore, the availability of Diabetes Self-Management Education Programs (DSMEPs) is ensuring that patients receive proper training on insulin administration and management. As a result, the demand for insulin syringes is expected to continue rising in the coming years.
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The pancreas plays a critical role in glucose metabolism, housing beta cells within the islets of Langerhans that produce insulin crucial for diabetic patients. Managing insulin delivery involves tools like the needle, barrel, and plunger of insulin syringes or pen needles, each calibrated for precise units of insulin. Biotechnology innovations, such as silicone-based insulin pens and prefilled insulin syringes, enhance convenience in both hospital and homecare applications. The rise in obesity and an aging population has increased the prevalence of chronic diseases, elevating the importance of ACE2 enzyme in hospital segments for conditions like diabetes. Monitoring and treatment advancements aim to reduce the mortality rate associated with diabetes, supported by Angiotensin converting enzyme research. As hospital applications integrate these technologies, the focus remains on improving patient care and outcomes through ongoing biotechnological and clinical advancements.
The rising global burden of diabetes is one of the key drivers supporting the insulin syringes market growth. Diabetes is a chronic disease that occurs when the body cannot use insulin effectively or when the pancreas does not produce enough insulin. The growing incidence of type 1 and type 2 diabetes will increase healthcare costs significantly. The average health expenditure on diabetes is approximately 9% of the total healthcare expenditure. As per the CDC, the average annual medical expenditure for people diagnosed with diabetes is USD7,900 in the US. The incidence of diabetes is higher among the older population. As per the CDC statistics, around 23.1 million adults aged 65 years or older have pre-diabetes in the US. The prevalence of diabetes is high in European countries. Thus, the increasing incidence of diabetes is likely to drive the market with the increased adoption of insulin syringes.
Significant Market Trends
An increase in awareness programs for diabetes is one of the key insulin syringes market trends contributing to the market growth. Vendors are organizing exhibitions to spread awareness about diabetes as well as generate insights into product development. The European Foundation for the Study of Diabetes (EFSD) in Europe is a leading European funding agency for diabetes research, which aims at creating and spreading awareness of type 1 diabetes among people. There are several country-specific organizations that are striving to raise awareness of type 1 diabetes. Various initiatives taken to increase the awareness of diabetes management in the region will accelerate the growth of the market during the forecast period.
Major Market Challenge
Non-adherence to insulin regimens is one of the factors hampering the insulin syringes market growth. Diabetes is one of the fastest-growing health problems across the globe, and its management is challenging. Several patients fail to control the disease as they do not follow the instructions provided by their healthcare providers. Despite insulin's potency to reduce glycated hemoglobin, insulin therapy continues to be underused in the treatment of type 1 and type 2 diabetes globally. Although the emergence of several new insulin analogs and insulin delivery technologies has made insulin therapy safer, more effective, and more convenient, there are still barriers to insulin adherence. Adherence to insulin regimens continues to be a major clinical problem among patients with diabetes. Patients have erroneous beliefs about insulin therapy, including the idea that insulin causes late-stage diabetes complications. Such factors have led to non-adherence to insulin regimens, which will further pose a challenge to the market.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
B. Braun SE - The company offers insulin syringes such as Omnican 100.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The type 2 diabetes segments is estimated to witness significant growth during the forecast period. For patients with type-2 diabetes, insulin syringes are commonly used to deliver insulin subcutaneously (injected into the layer of fat muscle between skin and muscle). The insulin syringes are classified into various types based on needle length, needle gauge, and syringe capacity. Vendors are offering a wide array of syringes of different sizes for type-2 diabetes.
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The type 2 diabetes segments accounted for USD 1.06 billion in 2018 and showed a gradual increase during the forecast period. These devices are available at affordable prices and are covered under reimbursement policies. Furthermore, these syringes allow for the mixing of two different types of insulin based on the physicians prescription. Becton Dickinson and Co. offers BD Insulin Syringe with the BD Ultra-Fine 6-mm needle. It is the shortest insulin syringe needle, which caters to the growing demand for shorter needles and delivers insulin subcutaneously, eliminating the risk of intramuscular injection.
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North America is estimated to contribute 49% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The insulin syringes market in North America is growing steadily due to the increase in technological advances and a high incidence of type 1 and type-2 diabetes. The increasing age and obesity will contribute to and increase the chances of diabetes. It is estimated that the new cases of diagnosed diabetes were equal between women and men adults aged 45-64 years of age.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion " for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
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In the realm of diabetes care devices, silicone-based prefilled insulin syringes and continuous glucose monitoring systems are pivotal for enhancing glycemic control in chronic diseases management. These innovations cater to hospital and homecare applications, accommodating the needs of an increasing prevalence of diabetes globally, particularly in regions like LAMEA. The geriatric population benefits significantly from biotechnological advancements, supported by calibrations for precise blood glucose levels monitoring. Eli Lilly and other pharmaceutical companies play key roles in developing conventional insulin solutions, vital for hospital segments and clinics treating diabetic patients. Doctors emphasize the importance of managing diabetes due to its link with cardiovascular diseases, exacerbated by factors like physical inactivity. Global health initiatives like the Roscongress and Health Assembly unite Member States to improve diabetes care outcomes, aiming to reduce hospital admission and enhance patient well-being worldwide.
The Insulin Syringes Market is witnessing significant growth, driven by the rising prevalence of chronic diseases such as diabetes and the increasing adoption of biotechnology information for insulin delivery. Ely Lilly and Company, one of the key players, is making strides with its innovative insulin syringe offerings. Silicon-based insulin syringes are gaining popularity due to their advantages over traditional glass syringes. These syringes offer improved comfort, ease of use, and enhanced safety features. The hospital segment and home care settings are the primary application areas for insulin syringes. In hospitals, insulin syringes are used extensively for the administration of insulin to patients admitted with diabetes or other chronic diseases. In home care settings, prefilled insulin syringes are increasingly being used for self-administration by patients, contributing to the growth of the market.
The rising awareness about chronic diseases and the need for effective insulin delivery systems are fueling the demand for insulin syringes. The market is expected to grow at a steady pace, with the hospital application and homecare application segments leading the way. In conclusion, the Insulin Syringes Market is poised for growth, driven by the increasing prevalence of chronic diseases, the adoption of biotechnology information, and the growing demand for patient-friendly insulin delivery systems in both hospital and home care settings.
Market Scope |
|
Report Coverage |
Details |
Page number |
139 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.5% |
Market growth 2024-2028 |
USD 388 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.23 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 49% |
Key countries |
US, Canada, Germany, China, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AdvaCare Pharma, ASP Healthcare Pty Ltd., Avantor Inc., B.Braun SE, Becton Dickinson and Co., Cardinal Health Inc., CODAN Medizinische Gerate GmbH and Co KG, Gerresheimer AG, Healthwarehouse.com Inc., Hi Tech Medics Pvt Ltd., Hindustan Syringes and Medical Devices Ltd., LAC Healthcare Solutions, Nipro Corp., Novo Nordisk AS, Poly Medicure Ltd., SCHOTT AG, Smiths Group Plc, Terumo Corp., Thermo Fisher Scientific Inc., and UltiMed Inc. |
Market dynamics |
Parent market analysis, Market forecasting growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Disease Type
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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