Insulin is necessary for the management of type 1 diabetes and is more commonly used for the medication of type 2 diabetes. The insulin pen was first launched over 20 years ago and has evolved to provide significant working advantages compared with the syringe and vial. Insulin Pen devices are now used by patients with diabetes globally, but there are marked geographic differences in the use of reusable and disposable pens. In many countries, syringe and vial are still the most popular method of delivering insulin, whereas, in many countries, the use of reusable or disposable pens is more common. Diabetes is an endocrine health problem that causes high levels of sugar in the blood. For diabetic patients, blood sugar must be monitored carefully using a glucometer. If insulin is necessary to be injected in order to regulate the activity of the pancreas, this can be accomplished using insulin injection pens, either pre-filled disposable or refillable. This allows for light and easy use while providing accurate information on the dose. These factors are expected to propel the insulin pen market growth during the forecast period.

An electronic insulin pen was designed for diabetic patients dependent on insulin use in order to prevent wrong timing and wrong dosage caused by old age, vision, or mental illness. The insulin pen can be used electronically for routine dose injections and was designed to be able to used manually in the emergency. It is aimed that the patient can set the dose easily by using the fairly simple menu of the device. Additionally, the device was not designed as disposable, and the device was designed as reusable by changing the insulin tube. Because the tube chamber was designed to be suitable for all types of insulin, it can be used by changing the tube without using a different pen. Dose accuracy was adjusted with a low error by performing insulin dose measurements on a sensitive balance.

Increasing prevalence of diabetes is expected to drive the global insulin pen market

Diabetes is a metabolic disorder in both developed and developing countries. It is expected that about 371 million people have the disease worldwide and this number has been estimated to rise up to 552 million by 2030. The rate of prevalence of diabetes is high in Asian countries. About 92.3 and 63 million people in China and India suffer from this metabolic disorder respectively. Diabetes (T2D) reduces life expectancy by 5–10 years. The prevalence of diabetes is rapidly increasing worldwide due to interactions between environmental factors, genetic factors, and lifestyle. Furthermore, factors such as population growth, urbanization, aging, and increasing prevalence of obesity and physical inactivity are significantly contributing to the increasing global burden of diabetics. This is the major growth driver for the global insulin pen market.

Ease of use is expected to drive the market growth of global insulin pen market

The insulin pen offers better convenience, flexibility, and quality of life results with pen devices as compared to the conventional insulin delivery devices.6 Dose accuracy with insulin pens was also reported to be better in many studies in comparison to vials and syringes method, especially at low doses (≤5 IU). All these factors are essential in improving patient adherence to the treatment and also reducing hypoglycemic episodes.

Reusable Insulin pen segment is expected to dominate the market during the forecast period

With individual use of the pen device, the prospect of infection is decreased. Examples of such reusable insulin pens are Humapen® (for both human and analog insulins), NovoPen® 3 (for both human and analog insulins), Autopen® pen, Optipen®, and Wosulin pen. HumaPen® MEMOIR(TM) comes with a memory allowing diabetes patients, especially those on multiple mealtime doses, to record and examine their last 16 insulin doses. Insulin pens have shown dose accuracy before and after simulation of 5 years of use across a broad range of temperature and humidity conditions and after mechanical challenges.

These factors help the global insulin market growth during the forecast period.

North America expected to witness significant growth in the market during the forecast period

Insulin medication is deemed to be the center for the treatment of people who have diabetes, and in the United States, the adoption of insulin pens is increasing significantly as compared to the needles and syringes during the forecast period.

Asia-Pacific is also estimated to grow at a high CAGR during the forecast period due to the high population in China, India, and other Asian countries.

Insulin Pen: Competitive Landscape

Insulin Pen market is fragmented due to the presence of a number of large-sized companies, mid-sized & small-sized companies, and many start-ups that are working together to develop Insulin Pen. The leading companies of COVID-19 Test Kit Market are The leading companies of Insulin Pen Market are Owen Mumford, Ltd., Novo Nordisk A/S, Companion Medical, Berlin-Chemie Ag, Pendiq Gmbh, Emperra GmbH E-Health Technologies, Eli Lilly and Company, Ypsomed Ag, Sanofi, Biocon, and other prominent players.

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