The worldwide diabetes disposable insulin delivery pen market is expected to witness a significant growth rate during the forecast period and reach USD 14 billion by 2026.
Disposable insulin delivery pen is made of a prefilled cartridge. The entire insulin delivery pen is disposed after the cartridge is empty, which allows for a one-time dose only.
Factors such as user-friendly nature of disposable insulin pens and rising prevalence of diabetes in children are the factors expected to drive the market growth. According to the American Diabetes Association, as of 2018, in the Americas 187,000 children and adolescents were suffering from diabetes. Availability of favorable reimbursement policies and convenience of disposable pens as their usage doesn’t require training is another factor that drives the market growth. Additionally, disposable pens are very convenient and easy to use for elderly people as they require less thumb pressure as compared to other insulin pens.
However, high injection forces of disposable insulin delivery pens than required are expected to negatively impact the market growth during the forecast period.
By region, the worldwide diabetes disposable insulin delivery pen market is segmented into North America, Europe, Asia-Pacific, and LAMEA.
North America holds the largest market share due to huge diabetic population, better awareness regarding technologically advanced devices and favorable reimbursement policies. According to a data published by the Centers for Disease Control and Prevention (CDC), 34.2 million people on the US, i.e. 1 in 10 are suffering from diabetes. The same report also states that 88 million Americans i.e. 1 in 3 have prediabetes. The market is Europe held the second position. The growth rate of the diabetes disposable insulin delivery pen was higher in the Europe as compared to the US owing to their high adoption rate in the region. Market in the Asia-Pacific region is expected to grow at the fastest CAGR owing to growing healthcare expenditure of some fast-developing countries, such as India and increasing geriatric population. The United Nations Population Fund (UNFPA) states that 1 in 4 people in the Asia and Pacific will be more than 60 years old by 2050. Additionally, according to the World Bank, Australia had spent 9.21% of its GDP in the year 2017. The market in the LAMEA are expected to witness steady growth owing to increasing awareness regarding the lifestyle related diseases and measures taken by the government in Africa to tackle diabetes.
Key market players covered in the report include Sanofi (France), Ypsomed (Switzerland), Biocon Ltd (India), Novo Nordisk (Denmark), Eli Lilly & Company (US), Owen Mumford (UK), and Berlin-Chemie AG (Haselmeier) (Germany). Sanofi, Eli Lilly and Company and Novo Nordisk are amongst the most manufactures of disposable pens. Sanofi deals in SoloSTAR, Eli Lilly and Company deals in KwikPen, and Novo Nordisk deals in the FlexTouch pen. In June 2020, Eli Lilly and Company announced the launch of its new rapid-acting incilin, marketed by the name of Lyumjev. With this, the company expanded its diabetes product portfolio.
Key Topics Covered
- Executive Summary
- Diabetes Prefilled (Disposable) Insulin Delivery Pen Users (Volume),2013 – 2026
- Diabetes Prefilled (Disposable) Insulin Delivery Pen Market (Value),2013 – 2026
- Diabetes Prefilled (Disposable) Insulin Delivery Pen Market Share, By Users (%), 2013 – 2026
- Diabetes Prefilled (Disposable) Insulin Delivery Pen Market Share (%),2013 – 2026
- Key Market Drivers & Inhibitors of the Diabetes Prefilled (Disposable) Insulin Delivery Pen Market
- Market Drivers
- Market Inhibitors
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