Europe Insulin Pens Market Research Report Information By Product (Disposable Insulin Pens, and Cartridges in Reusable Pens) –and Europe Market Forecast Till 2032

Europe Insulin Pens Market Overview

The Europe's insulin pens market size was valued at USD 2.5 billion in 2022 and is anticipated to expand from USD 2.55 Billion in 2023 to USD 2.98 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 2.00% during the forecast period (2024 - 2032). The increasing population of diabetic patients, the increase in government expenditure for diabetic patients, and the launch of new products by prominent participants are major market drivers driving the insulin pens market in Europe.

Source: Secondary Research, MRFR Database, Primary Research, and Analyst Review

Insulin Pens Market Trends

• Increase in the number of people who have diabetes drives market growth.

The European insulin Pens market CAGR is expanding due to an increase in the number of people with diabetes. A massive section of the global population lives unhealthy lifestyles and drinks extensive amounts of carbohydrates in their diets, which can raise their sugar levels in the bloodstream and the chance of diabetes difficulties such as eyesight damage, nerve damage, kidney disease, retinopathy, neuropathy, and other chronic diseases. A rising number of diabetic patients worldwide is driving the need for efficient glucose monitoring and smart insulin pens as they help blood sugar penetrate the body's cells so it can be utilized for energy, thus keeping glucose levels in check. An expanding number of diabetic patients across the globe has led to an increase in healthcare expenditures, resulting in an expansion in demand for smart insulin pens for glucose control.

Furthermore, the increasing geriatric population, increasing prevalence of diabetes type 2 disorder, and launches of new products by key market players, as well as strategies such as mergers and acquisitions, are expected to drive the insulin pens market revenue over the forecast period. For instance, on February 23, 2023, Glooko, a U.S.-based software company, announced a global collaboration with Sanofi, a France-based pharmaceutical company, to integrate SoloSmart with the Glooko platform. SoloSmart is a single-piece add-on connected device intended for usage with SoloStar and DoubleStar insulin injection pens, which records the insulin dose, date, and time of injection and permits the visualization of the data in the Glooko app that patients can share with healthcare professionals for connected care in diabetes management.

Insulin Pens Market Segment Insights:

Insulin Pens Product Insights

The European insulin pens market segmentation, based on the product, includes Disposable Insulin Pens and Cartridges in Reusable Pens. The cartridges in the reusable pens segment dominated the market due to the emphasis on user convenience and sustainability. Cartridges allow efficient insulin delivery, reduce medication wastage, and facilitate cost-effective, eco-friendly practices. The shift towards reusable pens with cartridge systems aligns with the region's focus on patient-centric healthcare solutions, offering improved insulin management options for individuals with diabetes. This trend supports the overall growth of the insulin pens market in Europe, reflecting advancements in diabetes care and a commitment to enhancing the patient experience.

Figure 1: Europe Insulin Pens Market, by Product, 2023 & 2032 (USD Billion)

Source: Secondary Research, MRFR Database, Primary Research, and Analyst Review

Insulin Pens Country Insights

The European insulin pens market thrives due to the growing prevalence of diabetes and an aging population, which fuels the demand for convenient and efficient insulin delivery methods. Technological advancements in insulin pen devices, offering user-friendly features and precise dosage control, contribute to market growth. Increased awareness of diabetes management and the preference for self-administration among patients drive the adoption of insulin pens. Favorable reimbursement policies and healthcare initiatives further support market expansion. The shift from traditional insulin delivery methods to pens reflects a growing emphasis on patient convenience and improved adherence, positioning the European insulin pens market for continuous advancement and innovation.

Figure 2: EUROPE INSULIN PENS MARKET SHARE BY REGION 2023 (USD Billion)

Source: Secondary Research, MRFR Database, Primary Research, and Analyst Review

Insulin Pens Prominent Market Players & Competitive Insights

Leading market participants invest heavily in research and development to extend their product lines, allowing the insulin pens market to grow even more. Market participants are also undertaking numerous strategic activities to extend their footprint, with significant market outcomes including new product expansions, contractual agreements, mergers and acquisitions, more elevated investments, and collaboration with other organizations. The insulin pens industry must offer cost-effective items to enhance and survive in a more competitive, expanding market climate.

Major participants in the insulin pen market are attempting to expand market needs by investing in research and development operations, including Novo Nordisk, Sanofi, Eli Lilly, Biocon, Medtronic, and Wockhardt.

Key participants in the Insulin Pens market include

• Novo Nordisk


• Sanofi


• Eli Lilly


• Biocon


• Medtronic

Insulin Pens Industry Developments

August 2022: Lilly received CE (European Conformity) marking certification for the Tempo Smart Button and plans to begin small-scale pilots in selected countries through partnerships with existing diabetes management ecosystems.

Insulin Pens Market Segmentation

Product Outlook

• Disposable Insulin Pens


• Cartridges in Reusable Pens

Insulin Pens Regional Outlook

• Europe
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Indonesia
  
  
  • Thailand
  
  
  • Vietnam
  
  
  • Malaysia
  
  
  • Singapore
  
  
  • Rest of Europe