Diabetes Insulin pens for type 1 diabetes are improved versions of prefilled insulin syringes and pen needles used to administer insulin into the body of type 1 diabetes patients. These pens typically include an insulin cartridge that serves as insulin storage and a dial that measures the precise amount of insulin to be given to the patient. Such cartridges and pens come in a variety of sizes and shapes, as well as disposable and non-disposable options. Insulin pen needles that are interchangeable, thin, and relatively short are included in the majority of diabetic pens to decrease pain while injecting. Many universal pen needles in the market match nearly all types of insulin pens. Such pens are convenient to use, convenient to carry, that might be used at home to deliver precise doses. As a result, the need for diabetes insulin pens is growing.
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Rising prevalence of diabetes is expected to fuel the demand for the insulin injection pen
One of the key factors driving the global diabetes injection pens market is the rising prevalence of diabetes. According to the American Diabetes Association, 30.3 million individuals in the U.S. had diabetes in 2016, accounting for 9.4% of the total population. Furthermore, according to the BMJ Open Diabetes Research & Care, around 387 million individuals globally have diabetes, with type-1 diabetes accounting for 5-10% of the total. Other factors that are driving market growth also include the risk of needle-stick injuries and bacterial infection associated with the frequent use of syringes to inject insulin, as well as technological advancements in diabetes pens, which have led to the development of painless devices for regular insulin injections. The availability of insulin patches and other insulin delivery alternatives, on the other hand, is expected to hinder the global diabetes injection pens market growth during the forecast period.
Due to improvements in technological development in the diabetes pens market, North America is expected to hold a dominant position in the global diabetes injection pens market.
The global diabetes injection pens market is divided into North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. Due to the increasing incidences of type 1 diabetes and the introduction of modern injection pens by manufacturers in the region, North America accounted for the largest share in the global diabetes injection pens market. According to the Centers for Disease Control and Prevention, around 5% of people with diabetes have type 1 diabetes, which implies they seem unable to generate insulin naturally. This boosts the need for external insulin injections. Furthermore, in 2016, the Juvenile Diabetes Research Foundation estimates that the healthcare costs associated with type 1 diabetes in the U.S. equaled US$ 14 billion. Due to rising patient awareness and evolving healthcare systems, Asia Pacific is expected to expand at a fast rate in the global diabetes injection pens market.
To maintain their position in the highly concentrated market, major market players are working on the development of new products.
Some of the major players contributing to the global diabetes injection pens market are Becton, Dickinson and Co., Biocon Ltd., Jiangsu Delfu Co, AstraZeneca Plc, Novo Nordisk A/S, and Eli Lilly and Company. To retain their relevance and build their position in the global diabetic injection pens market, key market players are continuously working on innovation and improvement in current technologies. For instance, Novo Nordisk, released the NovoPen Echo insulin injection pen gadget in 2014, which was the first injection pen to administer half a unit of insulin and had a memory feature that stores the last dose and time since the last injection.
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