Diabetes Injection Pens Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023
Diabetes is a metabolic disease in which person has high blood glucose level due to inadequate insulin production or resistant of body cells to insulin. Majorly, diabetes is in three form: type 1 diabetes, type 2 diabetes, and gestational diabetes. In type 1 diabetes, body enable to secrete proper amount of insulin and also known as juvenile diabetes, insulin-dependent diabetes, and early-onset diabetes. About, 10% of all diabetes cases are type 1. Insulin injections are necessary for the patient suffering from type 1 diabetes. Type 2 diabetes involves insulin resistance and gestational diabetes affects female during pregnancy due to less insulin production. However, type 2 and gestational diabetes can control by medication, exercise, and proper diet. Advancement in the insulin injection led to reusable and disposable pen injectors. Now a days, diabetic pens are preferable due to portability of pens, easy to take accurate dose, and convenient for injections.
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Diabetes injection pens market majorly segmented based on usage of pens, and type of devices. Based on usage of pen the market further segmented into reusable insulin pen, and disposable insulin pen. Disposable pens are more convenient than the reusable pens. However, cost associated with disposable pen is more. Major brands of diabetes pen available in the U.S. market are Apidra SoloStar, Byetta, SymlinPen 60 & 120, Victoza, Humalog KwikPen, HumaPen LUXURA HD, Humulin Pen, Lantus Solostar, Levemir FlexPen, NovoLogMix FlexPen, NovoPen 3/ NovoPen Junior, and AutoPen. Based on type of devices market is segmented into diabetic pens, and pen needles. Geographically, the global market segmented into North America, Europe, Asia Pacific, Latin America, Middle East Africa, and rest of the world. North America held largest market share of the global diabetes pen market in 2014 due to presence of major key players, growing early onset diabetic patient, and high health care expenditure ability. However, Asia Pacific is likely to grow at faster rate followed by Europe during forecast period due to growing awareness, huge diabetic population in asia, and increasing acceptance to diabetic pen.
Increasing diabetic patient globally is a major driving factor to boost the diabetic injection pens market. For instance, according to WHO globally prevalence of diabetes was 171 million in 2000 and is likely to reach at 366 million by 2030. In addition, the incidence of childhood onset type 1 diabetes in the under-15 age group is increasing in many countries in the world. According to International Diabetes Federation (IDF),annuallyabout 76,000 children aged below 15 years old develop type 1 diabetes worldwide. Additionally, convenient use, and avoid dependency on trained person for injection led to growing acceptance of diabetic injection pens in the market. Advancement in the devices, decreasing price due to increasing competition, and growing awareness could further surge the market growth. For instance, in June 2013 Becton Dickson and Company launched Ultra-Fine Nano Pen Needle with EasyFlow Technology in the U.S. The pen needle is more convenient, higher flow rate with minimum leakage, and less painful.However, major reason to restraint the market growth is, pens are more expensive than syringes. Additionally, loss of one to two unit of insulin during each injection, non-availability of all types of insulin and mixture of insulin in pen form can negatively affect the market, albeit. Market opportunities are greatest in developing countries, as about 80% of all new cases of diabetes are expected to be reported in these countries by 2025.
Some of the major players in the global diabetes injection pens market are Novo Nordisk, Eli Lilly and Company, Medtronic, Becton Dickson and Company, Sanofi S.A., and F. Hoffman-La Roche AG.
This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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