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The global Diabetes Pen Market was valued at USD 5.86 billion in 2016 and is projected to reach USD 11.19 billion by 2025, growing at a CAGR of 7.45% from 2017 to 2025.
An insulin pen is used to inject insulin for the treatment of diabetes. Insulin is a hormone produced by the pancreas. The increasing prevalence of diabetic patients all over the globe paired with increasing geriatric population are some drivers to the market.
Sample Infographics:
Market Dynamics:
1. Market Drivers
1.1 Growth in prevalence of diabetes cases in varied age group
1.2 Growth in product launches
1.3 Promising regulations
1.4 Growth in awareness amongst people
2. Market Restraints
2.1 Increased R&D investments.
2.2 Safety issues related to reusable injection pen restrain the market
Market Segmentation:
1. Global Diabetes Pen Market, by Indication:
1.1 type I diabetes
1.2 type II diabetes
2. Global Diabetes Pen Market, by ProductType:
2.1 Insulin Pens
2.2 Insulin pen needles
3. Global Diabetes Pen Market, by Types:
3.1 Disposable
3.2 Reusable
4. Global Diabetes Pen Market, by Therapies:
4.1 insulin
4.2 glucagon-like peptide-1
4.3 growth hormones
5. Global Diabetes Pen Market, by End User:
5.1 hospitals
5.2 clinics
5.3 home care settings
6. Global Diabetes Pen Market, by Region:
6.1 North America (U.S., Canada, Mexico)
6.2 Europe (Germany, UK, France, Rest of Europe)
6.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
6.4 Latin America (Brazil, Argentina, Rest of Latin America)
6.5 Middle East & Africa
Competitive Landscape:
The major players in the market are as follows:
1. Astra Zeneca
2. BD
3. Eli Lilly and Company
4. Biocon
5. Sanofi
6. Jiangsu Delfu medical device Co.,Ltd.
7. Owen Mumford Ltd.
8. WOCKHARDT
9. Smiths Group plc.
10. P&B Pharmaceuticals Ltd.
11. NIPRO Medical Corporation
12. Novo Nordisk A/S
13. Injex UK
14. Mannkind Corporation
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Diabetes Pen Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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