Insulin Pen Market Overview:
DataM Intelligence published a business research report on the Insulin Pen Market by Product Type, By Application, By Distribution Channel, and By Region – Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts for 2022–2029. Insulin Pen Market report with 110+ market data Tables, Pie Chat, Graphs, and Figures spread concluded Pages and easy to comprehend complete analysis. The data is collected based on modern floats and requests acknowledged with the administrations and items.
The Insulin Pen Market study comprises historic data, current market trends, environment, technological innovation, upcoming technologies, and the technical progress in the correlated industry. The Insulin Pen research report offers a complete, proficient report delivering market research information that is related to new market entrants or set-up players. Key strategies of the companies operating in the market and their effect analysis have been comprised in the full report.
According to the Study conducted by DataM Intelligence, the global Insulin Pen Market size is projected to reach a decent value in billion USD by the end of 2029, with growth at a CAGR of 8.7% During the forecast period 2022-2029.
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Insulin pens are the devices used for the administration of insulin among diabetic patients. The ease of use and the accuracy in administration make insulin pen usage high among insulin users.
Insulin Pen Market Growth Drivers Analysis
The major driving forces are the rising prevalence of diabetes, increasing awareness related to needlestick injuries, diabetes monitoring and therapeutics for better disease management, the surge in the adoption of connected medical devices, and increasing R&D activities.
The increasing awareness related to needlestick injuries is expected to drive the market growth
The increasing awareness related to needlestick injuries is expected to boost the market. For instance, needlestick injuries are the primary concern for healthcare providers worldwide. In the US, every year, approximately 8 -10 lac needlestick injuries occur to healthcare workers, and around 1000 of them get contacted with infectious diseases, and 500 to 600 die each year due to these types of injuries.
The rising prevalence of diabetes is expected to boost the market. Diabetes is increasing at an alarming rate in the United States. According to the CDC’s (Centers for Disease Control) National Diabetes Statistics Report for 2020 cases of diabetes have risen to an estimated 34.2 million. Thus, these factors are driving the growth of the market in the forecast period.
Insulin Pen Market Segmentation
By Product Type: Traditional Insulin Pen (Cartridges in Reusable Pens, Disposable Pens), Smart Insulin Pen (Bluetooth, USB))
A traditional insulin pen is segmented into cartridges in reusable pens and disposable pens. The traditional insulin pens are expected to boost the market over the forecast period, owing to the rising prevalence of diabetes and several market players that offer technically advanced products.
By Application: Type 1 Diabetes, and Type 2 Diabetes
By Distribution Channel; Hospital Pharmacies, Retail Pharmacies, and Others
By Geographical Classification:
North America
South America
Europe
Middle East and Africa
Asia Pacific
Rest of the Global Countries
North America Insulin Pen Market
North America dominates the market for insulin pens and is expected to show a similar trend over the forecast period owing to the increased geriatric population, advanced healthcare infrastructure, increased incidences of diabetes, and favorable government initiatives. There are several companies present in the region that are working towards new technological advancements in insulin pens.
FDA approved a smart Glucose meter for (iPhone 7, 8, and iPhone X) of Dario Health corp. As per CDC, in 2020, an alpha level of 0.05 was used when determining statistically significant differences between groups. Age-adjusted estimates were calculated among adults aged 18 years or older by the direct method to the 2000 US Census standard population, using age groups 18–44, 45–64, and 65 years or older. Most estimates of diabetes in this report do not differentiate between type 1 and type 2 diabetes.
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Competitive Landscape and Key Companies Profiled in the Global Insulin Pen Market:
Some of the key players which are contributing to the growth of the market are Novo Nordisk, Sanofi, Biocon, Julphar, Companion Medical, Owen Mumford, Ltd, Berlin-Chemie AG, Diamesco Co, Emperra GmbH E-Health Technologies, Eli Lilly and Company among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the Insulin Pen Market globally.
Table of Content – Insulin Pen Market
1) Methodology and Scope
- Research Methodology
- Research Objective and Scope of the Report
2) Market Definition and Overview
3) Executive Summary
4) Global Dynamics
5) Industry Analysis
6) By Product Type
7) By Application
8) By Distributional Channels
9) By Region
10) Competitive Landscape
11) Company Profiles
12) Appendix
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