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Muni Kumar Meravath is a seasoned Healthcare Market Research Analyst with over 6 years of experience in the healthc.....
Insulin Pens Market: By Usability, By Type, By End User, and Geography
Insulin Pens Market: By Usability, By Type, By End User, and Geography
Insulin pen sales were 1,387 million units in 2023 and are projected to reach an estimated 1,797 million units by 2030, growing at a CAGR of 3.8% during the forecast period 2024-2030. Insulin pens are medical devices used for the injection of insulin in the management of diabetes. They consist of a cartridge, a dial to measure dosage, and a disposable needle. Insulin pens offer convenience, ease of use, and more accurate dosing compared to traditional syringes. They are portable, and discreet, and help improve adherence to insulin therapy. Pens can be disposable or reusable with replaceable cartridges. They are widely used by individuals with diabetes who require insulin to control their blood sugar levels.
The insulin market is witnessing growth due to factors such as the increasing incidence of diabetes and formulation advancements. In addition, geriatric and obese populations are more susceptible to chronic diseases. According to the World Bank Group, in 2020, the global elderly population was around 727 million, which is expected to double over the next three decades, reaching approximately 1.5 billion in 2050. Formulation advancements are another crucial factor driving space growth.
For instance, Fiasp (Novo Nordisk) is a formulation of insulin aspart in a combination of niacinamide (Vitamin-B3), which can improve the initial absorption of the drug. However, the market saw a setback due to the COVID-19 pandemic. Amid the pandemic, a slowdown and disruption in the supply of pharmaceuticals were observed due to the strategies designed to control the spread of SARS-CoV-2. Additionally, the high cost of insulin could impede the market growth.
Study Period
2024 - 2030Base Year
2023CAGR
3.8%Largest Market
Asia-PacificFastest Growing Market
North-America
Insulin pens are preferred for managing diabetes as they offer several advantages over traditional insulin syringes and vials, including convenience, accuracy, improved quality of life, and better adherence to insulin therapy. These special characteristics have made them a preferred choice for many diabetes patients. Insulin pens are compact and discreet, making them easier to carry and use while on the go. Unlike drawing insulin from a vial with a syringe, which can be cumbersome and require a steady hand, insulin pens are ready to use and simplify the process of administering insulin. This is particularly beneficial for individuals with limited dexterity or visual impairments.
Furthermore, insulin pens are designed to deliver precise doses, with adjustable settings that allow users to fine-tune their insulin intake. This precision reduces the risk of dosing errors, a common concern with traditional syringes where small measurement mistakes can lead to significant blood sugar fluctuations. Moreover, the presence of both disposable and reusable insulin pens is expected to surge the demand for insulin pens further. The doctors suggest the type of insulin pen to be used based on the intensity of diabetes. Thus, the flexibility offered by insulin pens is one of the most sought-after benefits.
Based on regions the insulin pens market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. In 2023, the North American insulin pen market recorded a significant share, comprising 22.6% of the global market, equating to 314 million units. This market is projected to expand at a compound annual growth rate (CAGR) of 4.2%, aiming to reach 416 million units by 2030. Primarily, the rising prevalence of diabetes in the region, spurred by factors such as obesity, sedentary lifestyles, and unhealthy dietary habits, is significantly fueling the demand for insulin pens. These devices offer a convenient and less painful way to administer insulin, making them highly preferred by individuals with diabetes.
The market in Europe held a significant market share in 2023. The European market has shown significant growth and potential, reflecting the increasing demand for diabetes management solutions across the region. In 2023, Europe held a substantial 48.3% share of the global market leader in the market, translating to 673 million units. This market is anticipated to expand at a compound annual growth rate (CAGR) of 3.4%, reaching an estimated 848 million units by 2030. This anticipated rise can be attributed to several factors, including population aging, an uptick in obesity rates, and societal shifts. The market in Asia Pacific is projected to grow at the fastest CAGR during the forecast period. The rising prevalence of diabetes in this region and increasing awareness about the advantages of insulin pens over traditional syringe methods are major growth drivers. These devices offer convenience, ease of use, and improved dosing accuracy, making them increasingly preferred by patients and healthcare providers. Additionally, technological advancements in insulin pens, including smart pens that can track dosage and timing, further propel the market.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024 - 2030 |
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Market CAGR |
3.8% |
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By Usability |
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By Type |
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By End User |
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Insulin pen sales were 1,387 million units in 2023 and are projected to reach an estimated 1,797 million units by 2030, growing at a CAGR of 3.8% during the forecast period 2024-2030.
North America accounts for the highest rate of growth in the insulin pens market followed by Europe region. The adoption in the U.S. has been relatively slow. Approximately 59% of American diabetes patients use insulin pens, whereas in Europe, the usage rate is about 94%. Factors such as cost, and insurance coverage might be influencing the limited use of insulin pens in the U.S. insulin market.
The major players in the insulin pens market include BERLIN-CHEMIE, Novo Nordisk, Ypsomed’s, Eli Lilly, Medtronic, Owen Mumford, Pendiq, Abbott, and Sanofi.
The key drivers for the insulin pens market include the increasing prevalence of diabetes, advancements in pen technology for ease of use and accuracy, and a growing preference for convenient and minimally invasive methods of insulin delivery. Additionally, rising awareness about diabetes management and supportive government initiatives also contribute to market growth.
The growth of the global insulin pens market is restrained by the high cost of insulin pens compared to traditional syringes, limited accessibility in low-income regions, and potential environmental concerns regarding disposable pens. Additionally, the presence of stringent regulatory requirements can also hinder market expansion.
| 1.Executive Summary |
| 2.Global Insulin Pens Market Introduction |
| 2.1.Global Insulin Pens Market - Taxonomy |
| 2.2.Global Insulin Pens Market - Definitions |
| 2.2.1.Usability |
| 2.2.2.Type |
| 2.2.3.End User |
| 2.2.4.Region |
| 3.Global Insulin Pens Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4.Global Insulin Pens Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5.Global Insulin Pens Market By Usability, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Disposable Insulin Pens |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Reusable Insulin Pens |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 6.Global Insulin Pens Market By Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. First Generation Pens |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Second Generation Pens |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 7.Global Insulin Pens Market By End User, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. Hospitals & Clinics |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Ambulatory Surgical Centers |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Home Care Settings |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 8.Global Insulin Pens Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Europe |
| 8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Asia Pacific (APAC) |
| 8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Middle East and Africa (MEA) |
| 8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 8.5. Latin America |
| 8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 9.North America Insulin Pens Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. Usability Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Disposable Insulin Pens |
| 9.1.2.Reusable Insulin Pens |
| 9.2. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.First Generation Pens |
| 9.2.2.Second Generation Pens |
| 9.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.Hospitals & Clinics |
| 9.3.2.Ambulatory Surgical Centers |
| 9.3.3.Home Care Settings |
| 9.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.4.1.United States of America (USA) |
| 9.4.2.Canada |
| 10.Europe Insulin Pens Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Usability Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Disposable Insulin Pens |
| 10.1.2.Reusable Insulin Pens |
| 10.2. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.First Generation Pens |
| 10.2.2.Second Generation Pens |
| 10.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.Hospitals & Clinics |
| 10.3.2.Ambulatory Surgical Centers |
| 10.3.3.Home Care Settings |
| 10.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.4.1.Germany |
| 10.4.2.France |
| 10.4.3.Italy |
| 10.4.4.United Kingdom (UK) |
| 10.4.5.Spain |
| 11.Asia Pacific (APAC) Insulin Pens Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Usability Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Disposable Insulin Pens |
| 11.1.2.Reusable Insulin Pens |
| 11.2. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.First Generation Pens |
| 11.2.2.Second Generation Pens |
| 11.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.Hospitals & Clinics |
| 11.3.2.Ambulatory Surgical Centers |
| 11.3.3.Home Care Settings |
| 11.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.4.1.China |
| 11.4.2.India |
| 11.4.3.Australia and New Zealand (ANZ) |
| 11.4.4.Japan |
| 11.4.5.Rest of APAC |
| 12.Middle East and Africa (MEA) Insulin Pens Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. Usability Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Disposable Insulin Pens |
| 12.1.2.Reusable Insulin Pens |
| 12.2. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.First Generation Pens |
| 12.2.2.Second Generation Pens |
| 12.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Hospitals & Clinics |
| 12.3.2.Ambulatory Surgical Centers |
| 12.3.3.Home Care Settings |
| 12.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.4.1.GCC Countries |
| 12.4.2.South Africa |
| 12.4.3.Rest of MEA |
| 13.Latin America Insulin Pens Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 13.1. Usability Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1.Disposable Insulin Pens |
| 13.1.2.Reusable Insulin Pens |
| 13.2. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1.First Generation Pens |
| 13.2.2.Second Generation Pens |
| 13.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.3.1.Hospitals & Clinics |
| 13.3.2.Ambulatory Surgical Centers |
| 13.3.3.Home Care Settings |
| 13.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.4.1.Brazil |
| 13.4.2.Mexico |
| 13.4.3.Rest of LA |
| 14. Competition Landscape |
| 14.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 14.2.1.BERLIN-CHEMIE |
| 14.2.2.Novo Nordisk |
| 14.2.3.Ypsomed’s |
| 14.2.4.Eli Lilly |
| 14.2.5.Medtronic |
| 14.2.6.Owen Mumford |
| 14.2.7.Pendiq |
| 14.2.8.Abbott |
| 14.2.9.Sanofi |
| 15. Research Methodology |
| 16. Appendix and Abbreviations |
Key Market Players
Author
Muni Kumar Meravath is a seasoned Healthcare Market Research Analyst with over 6 years of experience in the healthcare domain, encompassing pharmaceuticals, medical devices, and diagnostics. A graduate in Pharmacy, he possesses a strong foundation in the intricacies of the healthcare sector. He further enhanced his expertise by pursuing an MBA in Pharmaceuticals, equipping him with valuable business acumen. His analytical skills and market insights have contributed to strategic decision-making and enhanced market positioning for various healthcare organizations. Committed to driving innovation and excellence, Muni continues to seek opportunities to improve healthcare delivery through data-driven insights.