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Redding, California - May 15, 2024

Insulin Pens Market to be Worth $6.73 Billion by 2031

Insulin Pens Market Size, Share, Forecast, & Trends Analysis by Type (Disposable, Reusable, Smart [Bluetooth, NFC]) Diabetes Type (Type 1, Type 2) Distribution (Hospital, Retail Pharmacies, E-commerce) Healthcare Setting—Global Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled ‘Insulin Pens Market Size, Share, Forecast, & Trends Analysis by Type (Disposable, Reusable, Smart [Bluetooth, NFC]) Diabetes Type (Type 1, Type 2) Distribution (Hospital, Retail Pharmacies, E-commerce) Healthcare Setting—Global Forecast to 2031.’

According to this latest publication from Meticulous Research^®, the insulin pens market is projected to reach $6.73 billion by 2031, at a CAGR of 6.7% during the forecast period. The growth of this market can be attributed to several factors, including the increasing prevalence of diabetes, technological advancements in insulin pens, rising demand for self-administration of drugs, and rising diabetes awareness programs. However, the high cost of insulin pens, the availability of alternatives to insulin pens, and needle anxiety in patients restrain the market’s growth.

Furthermore, rising preference for insulin pens over vials and syringes, emerging economies, and partnerships and collaborations between the companies are expected to offer growth opportunities for the players operating in this market. However, lack of awareness and knowledge in developing countries and limited access to healthcare in developing countries are major challenges impacting market growth.

The key players operating in the insulin pens are Novo Nordisk A/S (Denmark), Eli Lilly and Company (U.S.), Sanofi S.A. (France), Biocon Limited (India), Becton, Dickinson and Company (U.S.), Ypsomed AG (Switzerland), Owen Mumford Limited (U.K.), Medtronic plc (Ireland), Emperra GmbH E-Health Technologies (Germany), pendiq GmbH (Germany), and Jiangsu Delfu medical device Co., Ltd (China).

Insulin Pens Market: Future Outlook

The insulin pens market is segmented based on Type (Disposable Insulin Pens, Reusable Insulin Pens, Smart Insulin Pens [Bluetooth Connectivity, Near Field Communication (NFC) Connectivity]), Application (Type 1 Diabetes, Type 2 Diabetes), Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online/E-commerce Platforms), Healthcare Settings (Home Care, Hospitals & Clinics, Long-Term Care Settings), and Geography. The study also evaluates industry competitors and analyzes the market at the regional and country levels.

Based on type, the insulin pens market is segmented into disposable insulin pens, reusable insulin pens, and smart insulin pens. In 2024, the disposable insulin pens segment is expected to account for the largest share of 58.1% of the insulin pens market. The large market share of this segment can be attributed to the increasing product launches and approvals for disposable insulin pens, technological advancements in insulin pens, the low risk of infections associated with disposable pens as compared to reusable pens, and the advantages offered by disposable insulin pens.

Based on application, the insulin pens market is segmented into type 1 diabetes and type 2 diabetes. In 2024, the type 1 diabetes segment is expected to account for the larger share of the insulin pens market. The large market share of this segment can be attributed to the rising awareness programs of diabetes and the high prevalence of type 1 diabetes globally.

Based on distribution channel, the insulin pens market is segmented into hospital pharmacies, retail pharmacies, and online/e-commerce platforms. In 2024, the retail pharmacies segment is expected to account for the largest share of the insulin pens market. The large market share of this segment can be attributed to the advantages provided by retail pharmacies compared to other distribution channels. Retail pharmacies offer patients the convenience of accessing insulin pens and the opportunity for customers to inspect the product before making a purchase.

Based on healthcare setting, the insulin pens market is segmented into home care, hospitals & clinics, and long-term care settings. In 2024, the home care segment is expected to account for the largest share of the insulin pens market. The large market share of this segment can be attributed to the growing awareness of diabetes management and the rising number of diabetes cases. Additionally, the adoption of insulin pens in home care settings enables individuals to manage their healthcare independently. By self-administering medications, individuals gain greater control over their treatment, seamlessly integrating it into their daily routines. This autonomy often leads to improved medication adherence and better overall health outcomes.

Geographic Reviews

This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, Austria, Netherlands, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, Rest of Latin America), and the Middle East & Africa. In 2024, North America is expected to account for the largest share of 37.8% of the insulin pens market, followed by Europe and Asia-Pacific. North America’s major market share is attributed to the presence of major insulin pen manufacturers, advanced healthcare infrastructure, an increasing number of diabetes cases, and growth in diabetes management awareness programs.

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Key Questions Answered in the Report:

Which are the high-growth market segments in terms of type, application, distribution channel, healthcare setting, and region/country?
What was the historical market size for insulin pen products across the globe?
What are the market forecasts and estimates for 2024–2031?
What are the major drivers, restraints, opportunities, and challenges in the insulin pens market?
Who are the major players operating in the insulin pens market?
What is the competitive landscape like, and who are the market leaders in the insulin pens market?
What are the recent developments in the insulin pens market?
What are the various strategies adopted by major players in the insulin pens market?
What are the geographical trends and high-growth regions/countries?

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Redding, California - May 15, 2024

Insulin Pens Market to be Worth $6.73 Billion by 2031

Insulin Pens Market Size, Share, Forecast, & Trends Analysis by Type (Disposable, Reusable, Smart [Bluetooth, NFC]) Diabetes Type (Type 1, Type 2) Distribution (Hospital, Retail Pharmacies, E-commerce) Healthcare Setting—Global Forecast to 2031

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