Diabetes Injection Pens Market (Product Type - Insulin Pens and Pen Needles; Usage - Reusable and Disposable; Distribution Channel - Hospital Pharmacy, Retail Pharmacy, Online Sales, and Diabetes Clinics): Global Industry Analysis, Trends, Market Size and Forecasts to 2024. The global diabetes injection pens market is projected to grow at a CAGR of 8.3% over the forecast period of 2018-2024.

Pune, India -- (SBWire) -- 05/06/2019 --We have produced a new premium report Diabetes Injection Pens Market. The report covers the analysis of global as well as regional markets of diabetes injection pens. The objective of the study is to identify market sizes of different segments & countries in recent years and to forecast the values for the next six years. The report also deep dives into the sub-segments of diabetes injection pens market by product type (insulin pens and pen needles), usage (reusable and disposable) and distribution channel (hospital pharmacy, retail pharmacy, online sales and diabetes clinics) through main geographies in the global market such as North America, Europe, Asia-Pacific and RoW. The global diabetes injection pens market is projected to grow at a CAGR of 8.3% over the forecast period of 2018-2024.

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North America to Dominate the Global Diabetes Injection Pens Market Though 2018-2024

North America accounted for the largest market share in the global injection pens market in 2017. The U.S. takes the lead in the diabetes injection pens market in North America. The growth in diabetes injection market in the U.S is mainly attributed due to the extensive diabetic population in the country, the presence of major medical devices company and the presence of specialty clinics for diabetic's management. Insulin pens are more common and most preferred devices in this region.

On the other hand, the Asia Pacific region is the fastest growing region during the forecast period, with a major contribution from countries such as India, Japan, and China. Favorable regulations, the ability of the patients to pay for advanced medical products and devices, and growing awareness levels are likely to drive the market for diabetes injection pens in the Asia Pacific region.

Growing Demand for Next Generation Insulin Pens/ Intelligent Pens to Drive the Diabetes Injection Pen Market.

Intelligent pens are the most common and preferred for insulin injecting. These pens are simple to use and come in both disposable and reusable version. These pens come with the memory that helps the user to know how long it has been since their last injection. The next generation of insulin pens has gone beyond just having a memory. These pens have built in Bluetooth, allowing patients to track trends & doses and share the data for more complete management. Furthermore, the next generation insulin pen has improved design that reduces injection force, improved accuracy, and ease of use. Thus, increasing demand for next-generation insulin pens/ intelligent pens is driving the diabetes injection pen market.

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Ease in New Product Approvals can Create A Demand for the Diabetes Injection Pen Market.

Insulin pens have to go through a lengthy process of product approvals, besides this, it also has to pass various regulations in different countries. Ease in new product approvals creates an opportunity to increase its presence in the market and gain market share from its competitor. Besides this, Mergers and acquisition of medical devices catering in injection pens can also augment growth opportunities for diabetes injection pen market.

Strategic Alliances within the Diabetes Injection Pens Manufacturing Companies to Boost the Market Growth

In March 2018, Abbott laboratories backed Bigfoot Biomedical, a medical technology startup headquartered in California. The involvement of Abbott and other investors had helped Bigfoot with overall $55 million, these investments would help the company to take its insulin pump and pen, through clinical development and onto the market.

Bigfoot will use this money to fund development and commercialization of its two Class III diabetes devices, Bigfoot Loop and Bigfoot Inject. Bigfoot Loop is a closed-loop insulin delivery system that uses data from an Abbott glucose monitor to inform dosing via an infusion pump while Bigfoot Inject is a connected insulin pen.

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Reasons to Buy this Report:

- Comprehensive analysis of global as well as regional markets of the diabetes injection pens.

- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2024.

- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.

- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.