Global Insulin Pen Market, Forecast by 2025

An insulin pen is used by diabetic patients to inject insulin in a much more comfortable and convenient way as compared to the syringe. The major growth drivers of insulin pen are increasing diabetic population around the world, along with an increase in awareness and growing healthcare expenditure to control diseases like diabetes. Many people are using insulin pen as they are easier to carry and use. It does not require to have a bottle to draw insulin, easy adjustment of dose, less wastage of expired insulin, it doesn’t require refrigeration to store as compared to other insulin delivery methods. According to Renub Research report, the Global Insulin Pen Market will increase year on year; and reach US$ 35 Billion by the end of the year 2025.

There are three types of insulin pens available: Disposable, Reusable and Smart Insulin Pen. A disposable pen is prefilled with insulin; it is used only once after using the entire pen is disposed. A reusable insulin pen has an insulin cartridge which can be replaced, and it is also known as a durable insulin pen. The third type of insulin pen is smart with the use of advanced technologies such as Bluetooth or IoT; it can record the time and date of insulin at which dose was delivered, nowadays these smart insulin pens are also called as “Connected Insulin Pen”

The Impact of COVID-19 on Insulin Pen Market

Healthcare industry is facing significant challenges due to the outbreak of Coronavirus. Most of the countries were in total lockdown in the first half of the year 2020. Major healthcare companies are focusing on the vaccine of this deadly virus, and investment for the treatment of other diseases has been stopped. The market for the year 2020 is forecasted to decline as people are avoiding visiting any healthcare centre and purchasing medical supplies other than medicine and medical devices related to COVID-19. According to Renub Research analysis, the market will grow from the year 2021 to its natural pace as it was in previous years.

About Company:

Renub Research is a Market Research and Consulting Company. We have more than 10 years of experience especially in international Business-to-Business Researches, Surveys and Consulting. We provide wide range of business research solutions that helps companies in making better business decisions. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. Our wide clientele comprises of major players in Life Sciences, Information Technology, Telecom, Financial Services (Banking, Insurance), Energy, Retail, Manufacturing, Automotive, and Social sector. Our clients rely on our market analysis and data to make informed knowledgeable decisions. We are regarded as one of the best providers of knowledge. Our pertinent analysis helps consultants, bankers and executives to make informed and correct decisions.

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Insulin Pen Market Global Forecast by Diabetes Population & Type – Renub Research

An insulin pen is a medical device that is used by diabetic people to inject insulin. The device is consists of an insulin cartridge, a dial to measure the dose, and disposable pen needles to deliver the dose. Currently, there are 3 types of insulin pens available in the market (Disposable, Reusable, and Smart) insulin pen. According to Renub Research report, the global Insulin Pen Market is expected to surpass US$ 35 Billion by the end of the year 2025.

Types of Insulin Pens

  1. A disposable insulin pen comes with pre-filled insulin. Once the insulin cartridge is over than the entire insulin pen is disposed. The disposable insulin pen is also called prefilled insulin pen.
  2. A reusable pen contains a replaceable insulin cartridge. So once the insulin cartridge is empty, than it needs to be replaced with a new one. A reusable insulin pen is also known as a durable insulin pen.
  3. Smart insulin pen is the Bluetooth enabled insulin pen that records the time/date of insulin injections that have been delivered. The recent addition to the pack Smart insulin pen is also known as a “connected” insulin pen.
Insulin Pen Market Global Forecast by Diabetes Population & Type

Insulin Pen advantages over Syringe

According to various studies, research, and surveys, insulin pen has an advantage over conventional syringe or vials. In syringe, patients have to fill insulin themselves and have to pay a lot of attention while giving adequate units before injection. This could be a problem for aged patient who generally has weak eyesight, and they may face difficulties while filling the precise quantity of insulin.

The insulin pen eradicates these entire problems as it’s safe and simple to use and convenient for aging population as they have the tendency to forget. Due to these advantages, people with diabetes are shifting from syringe to pen globally. Moreover, rising per capita income of diabetic people across the world is also increasing the acceptability of insulin pen over vials.

Growth Factors & Challenges of the Insulin Pen Market

The major factors that are fueling the growth of the insulin pen market are; rising diabetes population (especially type 2 diabetes population), increasing geriatric population, growth in obese population globally, etc. On the contrary, the challenges of the market growth are the availability of alternatives to insulin pens in the market and the high cost of insulin pens.

Renub Research report titled “Insulin Pen Market & Users by Diabetes Population (Type 1, Type 2), Countries (United States, Germany, Sweden, United Kingdom, Australia, India, China, Brazil, Saudi Arabia, Netherlands, and Switzerland), Types of Insulin Pen (Disposable, Reusable, Smart), Insulin pen Needle Market, Reimbursement Policies, Company Analysis (B.Braun Melsungen AG, Eli Lilly and Company, Artsana S.p.A., BD (Becton Dickinson), Novo Nordisk A/S, Mumford Ltd.)” provides a complete analysis of global insulin pen market.

11 Countries – Insulin Pen Market & Users covered in the report

  1. United States
  2. Germany
  3. Sweden
  4. United Kingdom
  5. Australia
  6. India
  7. China
  8. Brazil
  9. Saudi Arabia
  10. Netherlands
  11. Switzerland

Diabetes Population

In this report, insulin pen markets are categorized based on diabetes population; Type 1 Diabetes population, and Type 2 Diabetes Population.

Request a free Sample copy of the report: https://www.renub.com/request-sample-page.php?gturl=insulin-pen-market-p.php

Insulin Pen – Disposable Insulin Pen holds significant Market Share

In this report, Insulin Pen Market is categorized based on pen-type; Disposable Insulin Pen, Reusable Insulin Pen, Smart Insulin Pen, and Insulin Pen Needle Market. Disposable Insulin Pen holds a significant market share.

All the companies have been studied from three points

• Overview
• Recent Developments
• Sales Analysis

Companies Covered

• B. Braun Melsungen AG
• Eli Lilly and Company
• Artsana S.p.A.
• BD
• Novo Nordisk A/S
• Owen Mumford Ltd.
• Ypsomed AG
• Terumo Corporation

About Us:

Renub Research is a Market Research and Consulting Company. We have more than 10 years of experience especially in international Business-to-Business Researches, Surveys and Consulting. We provide wide range of business research solutions that helps companies in making better business decisions. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. Our wide clientele comprises of major players in Life Sciences, Information Technology, Telecom, Financial Services (Banking, Insurance), Energy, Retail, Manufacturing, Automotive, and Social sector. Our clients rely on our market analysis and data to make informed knowledgeable decisions. We are regarded as one of the best providers of knowledge. Our pertinent analysis helps consultants, bankers and executives to make informed and correct decisions.

Contact Us:

Renub Research
Phone: +1-678-302-0700
Email: info@renub.com
Website: www.renub.com
Follow us on LinkedIn: www.linkedin.com/company/renub-research