The global Insulin Pens Market is estimated to reach USD 41.80 Billion by 2026, according to a new report by Reports and Data.
New York, NY -- (SBWIRE) -- 02/24/2021 -- The rising predominance of diabetes in different age groups is an essential factor encouraging the growth of the insulin pen market globally. Also, developing R&D ventures are also advancing the market. However, concerns related to the usage of infusion pen and stringent laws for new product developments are restraining the growth of the market.
The global Insulin Pens Market is estimated to reach USD 41.80 Billion by 2026, according to a new report by Reports and Data. This can be mainly associated with the rising predominance of diabetes in different age groups along with developing R&D ventures which are boosting the growth of the market further. Technological improvements in insulin infusion devices are one of the growing trends in the market globally. Also, one of the principal factors leading to the growth of the market is the rising number of diabetics due to obesity, aging, and unhealthy lifestyles. Obesity is believed to be a significant factor influencing the growth of diabetes in individuals.
Furthermore, the report is furnished with the latest impact of the COVID-19 pandemic on the market. The pandemic has affected every segment of the market, along with bringing disruption in the supply chain, demands & trends, and financial difficulties. The report covers the initial and future assessment of the COVID-19 impact on the market.
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Further key findings from the report suggest
Insulin Pen is a type of insulin injection device, containing a refill in the pen. The way to operate it, is to fit it with the specific refill filled with insulin, fix the needle and pull off the needle cover. The operation is very convenient.
Insulin pens make the process to measure the dosage easier as the number of shots is pre-set along with the dosage. It ensures that the exact insulin levels are maintained according to the patient's requirement. It is apparent that insulin pens offer the service that they need when compared to the bottle and syringe
The rising predominance of diabetes in different age groups is an essential factor encouraging the growth of the insulin pen market globally. Also, developing R&D ventures are also advancing the market. However, concerns related to the usage of infusion pen and stringent laws for new product developments are restraining the growth of the market.
Smart Insulin Pens is expected to witness the highest CAGR of 8.4% during the forecast period.
The pre-filled insulin pen market under the Usage segment is expected to grow with the highest CAGR of 8.3% during the forecast period.
Based on the regions, the report covers the following regions:
North America (U.S.A., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
The Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Competitive Terrain:
The global Insulin Pens market has a consolidated presence of a large number of companies that have been performing consistently to achieve optimum market growth. The report comprehensively discusses these companies' current market standing, past performances, demand & supply graphs, sales network, production & consumption patterns, and distribution channels. The report thus points out the effective business approaches undertaken by these market players to build on their market footprint.
The leading companies operating across the global Insulin Pens market are listed below:
Novo Nordisk, Sanofi, Smiths Medical Asd, Inc., Biocon, Health Care Center, B Pharmaceuticals, Nipro Medical Corporation, Eli Lilly and Company, INJEX, Insulet Corporation.
End-User Outlook (Volume, Thousand Units; and Revenue, USD Million; 2016-2026)
Hospitals & Clinics
Ambulatory Surgical Centers
Home care settings
Product Outlook (Volume, Thousand Units; and Revenue, USD Million; 2016-2026)
Traditional insulin Pens
Smart insulin Pens.
Usage Outlook (Volume, Thousand Units; and Revenue, USD Million; 2016-2026)
Prefilled Insulin Pens
Smart Insulin Pen Caps
Reusable Insulin Pen Caps
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Radical Features of the Insulin Pens Market Report:
Valuable insights into the Insulin Pens market to impart an in-depth understanding of the business verticle
An 8-year forecast estimation along with an analysis of key elements of the market
Technological advancements, regulatory framework, and recent developments covered in the report
Growth analysis and projections until 2027
Statistical analysis of the key players operating in the Insulin Pens industry
Table Of Contents:
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 3. Indicative Metrics
Chapter 4. Insulin Pens Market Segmentation & Impact Analysis
Chapter 5. Insulin Pens Market, By Type Insights & Trends
Chapter 6. Insulin Pens Market, By Application Insights & Trends
Chapter 7. Insulin Pens Market, By End Use Insights & Trends
Chapter 8. Insulin Pens Market Regional Outlook
Chapter 9. Competitive Landscape
Chapter 10. Company Profiles
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