Global Insulin Pen Market Forecast and
Global Insulin Pen market was around USD 4300 million in 2019 and projected to
reach the valuation about USD 7800 million by the year 2026 by growing at a
CAGR of 8.8% during the forecast period 2020-2026. The key factors that are
propelling the global insulin market growth of the market are rising incidence
of diabetes, increasing geriatric population, and increasing adoption of
insulin pens over the conventional syringes and vials. With technological
advancements, insulins pens are developed with advanced features. The insulins
pen can record insulin dosages as well as time logs. The purpose of developing
a smart insulin pen is to prevent extra dosages, to keep a systematic record of
dosage, and to convert dosage knowledge to computer-based reports.
The Insulin pen has
grown in demand due to its portability, usability, a record of the proper
usage, and less pain as compared to injection. It has been observed that the
usage of insulin pens in high-income countries, middle-income countries, and
low-income countries was increasing significantly. These factors are expected
to drive the global demand for the insulin pen.
Nevertheless, the factors restraining the
market growth are the high cost of insulin pens and the availability of
alternatives to insulin pens in the market. On the other hand, the high
potential for market growth in developing economies is one of the growth
opportunities for market players.
Insulin Pen Market: Overview
Strict glycemic control benefits in
reducing complications and mortality in patients with diabetes. There has been
a great improvement in the number of patients reaching the target glycemic
control. This has been made possible as the result of advances in medical
science since the discovery of insulin. Insulin has been the backbone of
therapy for all subjects with type 1 diabetes and the majority of type 2
diabetic cases. Still, there are several barriers to insulin therapy that need
to be approached. One of the most significant barriers is the use of a
conventional insulin delivery process, which continues to be time-consuming,
inconvenient, cumbersome, and to some extent, painful also. Moreover, insulin
dosing via syringe is linked with a high risk of dosage errors, with as many as
80% of patients carrying out some aspect of insulin treatment via syringe
incorrectly. Insulin remains the mainstay in the treatment of diabetes. One of the
most significant barriers to insulin therapy is the use of a conventional
insulin delivery system, which remains time-consuming, inconvenient,
cumbersome, and painful. Insulin dosing via syringe is linked with a huge risk
of dosage errors. The modern pen devices have numerous advantages over
conventional insulin delivery technique. The user-friendliness and comfort of
injection make the initiation of insulin easier. The efficiency of the use of
insulin pens and the flexibility of including insulin injections into a busy
lifestyle improves diabetes control with much less effort while maintaining the
quality of life for diabetic patients. Reusable and prefilled pens are also
available in the market.
incidence of Diabetes
incidence of diabetes is rising significantly worldwide. The prevalence of
hypertension, obesity, prediabetes, alcohol consumption, and urbanization
increased, and the consumption of fruits and vegetables decreased, these are
the potential factors of the increasing prevalence of type 2 diabetes.
people used syringes and needles for a long time. Industries and experts aimed
at ways to bring insulin into the body that are cheaper, less harmful and more
comfortable. Today, a number of users use the insulin pens. These have higher
as compared to vials and syringes.
insulin are more comfortable, less painful, and simpler to store and to
transport. They effectively combine vial and syringe, allowing for greater
accuracy in the dose and easier dosage administration. Be sure to follow the
labeling directions carefully, and store insulin once opened in a cool and dry
place. Insulin alone can only manage diabetes, so it is an important to
regulate blood sugar by keeping a healthy diet and workout routine alongside
any prescription drugs.
procurement cost of insulin pens is high than that for vials and syringes,
although a higher acquisition cost may be negated by lower health care
utilization rates and fees. As outpatients, most patients incur a small
incremental out-of-pocket expense for the use of insulin pens instead of vials
and syringes. Some outpatients, though, lack insurance coverage for pens or
have a higher copayment for pens than vials and syringes.
Global Insulin Pen Market: Product Type
on Product Type, the Global Insulin Pen Market segmented into Disposable, and
Reusable. Reusable segment is expected to dominate the product type during the
forecast period owing is growing demand as it can be used again, and will cost
lesser then the disposable type insulin pen. These factors are expected to help
the global insulin pen market to grow. An insulin cartridge is inserted into
the delivery chamber of the pen in reusable pens. This provides for more
versatility for patients (i.e., adjusting drug forms without needing to
purchase another pen if the dosage changes), so it can be more affordable than
utilizing prefilled pens. The reusable pens are built for longer service life,
in addition to being robust and simple to use. The chance of infection is
reduced with individual use of the pen device.
Global Insulin Pen Market: Application
Based on Application, the Global Insulin Pen Market segmented
into Type 1 Diabetes, Type 2 Diabetes. Type 2 Diabetes is expected to grow at a
significant rate during the forecast period. While initially oral medicine and
behavioral improvements, such as exercise and weight loss, can be able to
control the disease, most people with type 2 diabetes still need to take
insulin by injection. Having the switch is much better than it used to be as most
patients begin with a long-acting insulin that doesn't have to suit the
consumption of foods.
insulin pens substitute insulin which has to be drawn through a syringe.
Patients can always be nervous about giving themselves injections, but the
transition is always easy since the needle is so tiny.
Global Insulin Pen Market: Regional Insights
Based on region, the global COVID-19 Testing Kit market
segmented into North America, Europe, Asia Pacific, Latin America, and Middle
East & Africa. North America is anticipated to dominate the global insulin
pens market during the projected period due to the high prevalence of diabetes
as well as expensive healthcare spending on the treatment of diabetes globally.
Technological advancements in the insulin pen are also expected to boost the
adoption of insulin pens in the North American region.
Europe is expected to grow at a significant CAGR due to
the patients 'incremental change to self-care rather than dependence. Because
of the larger number of diabetic patients, Asia Pacific is expected to
experience a comparatively higher CAGR. In addition, major industry players are
expecting the introduction of intensive consumer penetration strategies to
contribute to increased acceptance of insulin pens in the region during the
The leading companies of Insulin Pen Market are Owen Mumford,
Ltd., Novo Nordisk A/S, Companion Medical, Berlin-Chemie Ag, Pendiq Gmbh, Emperra
GmbH E-Health Technologies, Eli Lilly and Company, Ypsomed Ag, Sanofi, Biocon.
and other prominent players.
Ø March, 2020:
Sanofi, the vaccines global business unit of Sanofi, and Translate Bio, a
clinical-stage messenger RNA (mRNA) therapeutics company, will collaborate to
develop a novel mRNA vaccine for COVID-19. This collaboration leverages an
existing agreement from 2018 between the two companies to develop mRNA vaccines
for infectious diseases.
Ø July, 2019: Owen
Mumford, a global leader in medical devices announced that it has signed an
exclusive agreement with Osaka-based NIPRO CORPORATION. The agreement allows
for the distribution of UniSafe® supporting the growing focus of safety within
the innovative and established Japanese healthcare market.
Scope of the Report
Historical data – 2016-2019
Base Year – 2019
2020 – 2026
Revenue in USD Million
U.S, Canada, Germany, UK,
France, Italy, Spain, Brazil, Mexico, Argentina, Japan, South Korea, China,
India, UAE, South Africa, Saudi Arabia
By product type, distribution channel, application, with Region
Owen Mumford, Ltd., Novo Nordisk A/S,
Companion Medical, Berlin-Chemie Ag, Pendiq Gmbh, Emperra GmbH E-Health
Technologies, Eli Lilly and Company, Ypsomed Ag, Sanofi, Biocon. and other
By Product Type
By Distribution Channel
Ø North America
Ø Asia Pacific
Ø Latin America
Ø Middle East &
The objective of the Study:
Ø To analyze and forecast the global Insulin Pen
Market size of the market in terms of value.
Ø To examine the careful market segmentation and
forecast the market size, in terms of value, based on the region by segmenting.
Ø The Global Insulin Pen Market segmented into five
regions, namely, North America, Europe, Asia Pacific, Latin America, Middle
East & Africa and their leading countries.
Ø To outline, categorized, and forecast the global
Insulin Pen Market based on the product type, distribution channel, and
Ø To examine competitive developments like
technological advancement, services, and regulative framework within the global
Insulin Pen Market.
Ø To highlight the impact analysis of the factors
affecting the market dynamics such as drivers, restraints, opportunities, and
Ø To strategically profile the key players and
comprehensively analyze their market shares along with detailing the
competitive landscape for market leaders.