Insulin is an important factor for the proper management of both type 1 and type 2 diabetes but it is mostly used for the treatment of type 2 diabetes. Insulin pen devices are novel innovation and were first introduced over 20 years ago and it has evolved to provide significant advantages as compared to the vial and syringes. They can be classified as disposable and non-disposable. Disposable insulin pens contain a prefilled cartridge which can be discarded when cartridge gets empty whereas non-disposable can be used again by re-filling it.
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Insulin pen devices are now successfully adopted by diabetic patients around the world, however, there are various geographical variations in the use of the disposable and non-disposable pen. In some areas, the vial and syringe are the most commonly used and easy mode of taking insulin whereas the use of disposable pens is very common. The widespread use of insulin is projected to boost the market growth of the disposable insulin pen market.
Insulin pens typically deliver anywhere between .5 and 80 units of insulin at a time. The maximum dose is dependent on the patient and it varies among pens. The insulin pen use is depends upon the type of insulin patient requires, the number of units needed per shot, and the availability of pens. The needles that are used in these pens vary in shapes and sizes.
- Type I diabetes
- Type II diabetes
Rising prevalence of diabetes and a growing geriatric population base rate will propel the overall disposable insulin pen market growth
As per the International Diabetic Federation (IDF) around 415 million people suffered from diabetes in 2015. This number is likely to increase to 642 million by 2040. According to the American Diabetic Association, about 29.1 million people in America had diabetes in 2012; that is a whopping 9.3% of the population. Out of this population, 21.0 million were diagnosed. As the number of patients with diabetes is poised to increase, the need for insulin is also set to increase, thereby fuelling the global disposable insulin pen market during the forecast period.
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The Asia Pacific, especially in emerging countries such as India and China, the demand for disposable insulin pens is expected to raise significantly. According to the American Diabetic Association, around 60% of the world’s diabetic population lives in Asia. The prevalence of diabetes in India and China is 8.6% and 9.6% respectively. India is known as the diabetes capital of the world with more than 60 million diabetics in the country. As the number of diabetes patients increases, so is the demand for disposable insulin pens will raise. Since the disposable pen is easy to use than non-disposable, they are expected to gain huge demand over the forecast timeframe.
Chemist shops are the most preferred mode of purchasing disposable insulin pens once a patient diagnosed with diabetes. Disposable pens reduce the need for hospitalization as it can be self-administered on prescription-based and it is easily available at chemist shops. Hence, the easy availability of a disposable insulin pen is expected to propel the growth chemists segment.
Some of the companies operating in the disposable insulin pen market are Levemir, BD, Novo Nordisk, and Sanofi-Aventis.
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