Diabetes
Injection Pens Market, by Product Type (Insulin Pens and Pen Needles), by
Usage (Disposable and Reusable), by Distribution Channel (Hospitals Pharmacies,
Retail Pharmacies, Online Medical Stores, and Diabetes Clinics), and by
Geography - Global Industry Insights, Trends, Outlook, and Opportunity Analysis,
2018-2026
Diabetes insulin pens are
advanced forms of prefilled insulin syringes and pen needles that are used to
inject insulin in the body of patients suffering from type-1 diabetes. These
pens usually consist of an insulin cartridge that acts as an insulin reservoir
and a dial that is used to measure the exact volume of insulin that is intended
to be delivered to the patient. These cartridges and pens are available in
different shapes and sizes and are also available in disposable and
non-disposable types. Most of the diabetes pens are incorporated with insulin
pen needles that are replaceable, thin, and extremely short to reduce the pain
caused during injection. Several universal pen needles are also present in the
market that fits to almost all the brands of insulin pens. These pens are
handy, easy to carry around, and can be used in home settings to provide
accuracy in dose delivery. This in turn, is increasing the demand for diabetes
insulin pens.
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Rising incidence of diabetes is
expected to propel the demand for insulin injection pens
Rising incidence diabetes is one
of the major factors responsible for growth of the global diabetes injection
pens market. According to the American Diabetes Association, around 30.3
million of people in the U.S. suffered from diabetes, accounting for up to 9.4%
of the total population in 2016. Moreover, according to the BMJ Open Diabetes
Research & Care, around 387 million people in the world suffer from diabetes,
out of which around 5-10% suffer from type-1 diabetes. Various other factors
driving growth of the market include risk of needle-stick injuries and
bacterial infection caused by regular use of syringes to inject insulin and the
advancements technology related to diabetes pens, leading to development of
painless devices for daily insulin injections. However, the availability of
insulin patches and other substitutes for insulin delivery are expected to
hamper the growth of the market.
North America to hold a dominant
position in the global diabetes injection pens market, owing to advancements in
technology development in the in diabetes pens
On the basis of region, the
global diabetes injection pens market is segmented into North America, Latin
America, Europe, Asia Pacific, Middle East, and Africa. North America holds the
dominant position in the global diabetes injection pens market, owing to
increasing prevalence of type-1 diabetes as well as development of advanced
injection pens by manufacturers in the region. For instance, according to the
Centers of Disease Control and Prevention (CDC), around 5% of the people
suffering from diabetes are diagnosed with type-1 diabetes and are unable to
produce insulin naturally. This increases the demand for external insulin
administration.
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Moreover, according to the
Juvenile Diabetes Research Foundation, the healthcare burden due to type-1
diabetes in the U.S. accounted for up to US$ 14 billion in 2016. Asia Pacific
is expected to witness fastest growth in the market, owing to rising awareness
among the patients as well as evolving healthcare infrastructure.
Key players are focused on
development of novel products to sustain their position in the highly
consolidated market
Key players operating in the
global diabetes injection pens market include Novo Nordisk A/S, AstraZeneca
Plc, Biocon Ltd, Eli Lilly and Company, Becton, Dickinson and Company, and
Jiangsu Delfu Co. Major players are consistently focused towards innovation and
development in the existing technology to maintain their significance and
establish their presence in the global diabetes injection pens market. For
instance, Novo Nordisk in 2014 introduced a new insulin injection pen device
NovoPen Echo that was the first-ever injection pen to deliver half a unit of
insulin, with a memory function that records last dose and the time passed
since the last injection.
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