Diabetes Pen Market Research Report- Forecast Till 2030

Diabetes Pen Market Information: By Product (Insulin Pens And Insulin Pen Needle), Usage (Reusable Pens And Disposable Pens), Distribution Channels (Hospital Pharmacy, Retail Pharmacy, Online Sales, And Diabetes Clinics) - Forecast Till 2030

ID: MRFR/MED/0121-HCR | 80 Pages | Published By Kinjoll Dey on March 2023         

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Diabetes Pen Market

The global Diabetes Pen Market is projected to reach USD 44.6 billion by 2030 at a CAGR of 7.10% during the forecast period of 2022-2030

By Product Insulin Pens Insulin Pen Needle
By Usage Reusable Pens Disposable Pens
By Distribution Channels Hospital Pharmacy Retail Pharmacy Online Sales Diabetes Clinics
Key Players
Companies Profiled   AstraZeneca (U.K)   Teruma Medical Corporation (Japan)   Greinier Bio One International GmBH (U.S.)   F. Hoffman La Roche AG (Switzerland)   Becton   Dickinson and Company (U.S.)   Bayer Cropscience Ltd. (Germany)   and HTL STREFA SA (Poland)
Market Driving Forces   Increasing prevalence of diabetes and obesity   Growing demand for diabetes pen
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Diabetes Pen Market Overview

The diabetes pen market is expected to register a CAGR of 7.10% to reach USD 44.6 billion during the forecast period 2022-2030. The Diabetes Pen is a device used to spread insulin to diabetic patients. Patients suffering from type-one diabetes prefer insulin pens for the treatment of diabetes. Mostly the doctor prescribes this to diabetes patients. It helps easier administration of insulin to the body. Many patients use this to get accurate dosages and less pain than the other form of getting the insulin. It is mostly preferable by the clinicians and patients. The Diabetes Pen helps make the quality of life better and reduces the fear of hyperglycemia. The pen is affordable for every age group, which increases its demand in the forecast period.

The pens are mostly available in two forms. One form is the reusable pen, and the other is disposable insulin pens. The disposable pens are the prefilled insulin and are preferred by almost all people for insulin infusion. The diabetes pen needles are thinner and shorter than other forms of syringes. The diabetes pens should not be shared with anybody except the patient itself as there is a risk of transmission of diseases like hepatitis B. the market has more potential for growth due to the large base of an aging population and the continuous rise of diabetes patients. Diabetes occurs due to the pancreas' less secretion of insulin in the body. It is a major chronic disease globally, as many people suffer from this. The cartridges and pens are available in several different types and sizes for the patients' suitability.


Covid-19 analysis 

The pandemic has affected several business sectors and made them suffer. Many markets are trying to cope with the situation and will grow as the situation gets better with time. Due to COVID 19, the Diabetes Pen Market Size decreased as the virus spread more focus was on the pandemic, and less number of production of the medicines impacted the market. The manufacturing companies were also at a halt, due to which many medical needs were also stopped, which impacted the market negatively. However, the market is gaining its position with the improvement of the situation and will experience more growth rate in the upcoming period.

Chief Factors Existing In The Market  

  • Key drivers

The increasing prevalence of diabetes has risen, leading to a rise in demand for Diabetes pens. Diabetes pens are injected with the expanding need for insulin pens for patients suffering from diabetes. The continuous technological advancement of various diseases and the manufacturers creating new research for the improvement of the market is driving the market. The formation of new strategies to create new and advanced instruments for diabetic patients are the key driver of the Diabetes Pen Market. The changing lifestyle in millennials and the young generation, which is also adopted by the older generation, affects the young and older people. Due to the bad food habits like high intake of carbohydrates and sugar-containing foods are major factors for the Diabetes Pen Market Growth. Bad food habits also lead to obesity, and several other diseases, including diabetes, are propelling the market.

  • Market challenges

Several market changes impact the market, and it has to overcome them to hold growth and global space. Limitation in the diabetic pen is a challenge for the key players and the manufacturers, impacting the Diabetes Pen Market Value.

  • Market opportunities

Many companies are forming new strategies to improve the needle length, forming new market opportunities. Diabetes pens with thin and short lengths would be easier for overweight patients. The increasing awareness for needle stick injuries is forming ample opportunities for the market. Diabetes management by the patients and therapies for better disease management and the adaptation of connected medical devices increase the Diabetes Pen Market Share.

  • Market restraints

The availability of different other insulin pens is hindering the market from growth. The limitation in the Diabetes Pen and the competition's availability of other new technology is a restraining factor for the market. The strict rules by the government of several countries for the new product development are also pulling the market downward. People getting aware of the health conditions and adaptation to healthier lifestyles will restrain the market in the forecast period. The safety issues in the Diabetes Pen are pulling the market for a slow growth rate.

Cumulative Evaluation Of The Market  

The cumulative evaluation of the market different factors that are impacting the market to become successful. Factors that are impacting negatively are also impacting the market. Key drivers and opportunities positively impact the Diabetes Pen Market, and it is expected that it will remain the same and multiply in the forecast period. Restrains and challenges show the factors that hinder the market, and the market players must take a strong note about the factors. COVID has impacted the market negatively as the manufacturing industries were halted due to pandemics. The market is again gaining the growth pace and will showcase foster shortly.

Market segmentation 

The Diabetes Pen Market is classified into product, usage and distribution channel. The segments are boosting the market, and due to all the segments, the market will register high CAGR.

  • By Product¬†

Based on the product, the market is analyzed into Insulin Pens And Insulin Pen Needle. The pen needle segment dominates the Diabetes Pen Market Trends in the forecast period. The segment is dominating due to the ease of the products. People undergoing dexterity problems and taking large daily doses are also boosting the market. It also helps to minimize the injuries that happen due to the needlestick. Another segment will also be growing significantly.

  • By Usage

The segment usage of the Diabetes Pen Market is bifurcated into Reusable Pens And Disposable Pens. The reusable variable holds the largest CAGR due to the growing demand for diabetic patients and increasing awareness about the self-administration of insulin. The cost-effectiveness of reusable insulins is also fostering the market growth.

  • By Distribution Channels

Based on the distribution channel segment, the Diabetes Pen Market variables are Hospital Pharmacy, Retail Pharmacy, Online Sales, And Diabetes Clinics. The retail pharmacy segments dominate the market and are expected to grow at the same growth rate. The factors associated with it are the growing retail industry and wide adoption in emerging economies is driving the market growth. The Diabetes Pen Market Analysis shows that the other segment is growing slowly and will increase in size in the future.

Regional analysis 

The Diabetes Pen Market Outlook is analyzed in North America, Asia Pacific, Europe and other parts of the world. North America is dominating the market due to the large diabetic population, and a better reimbursement policy for the management of diseases will drive the market in the region. The pen usage is more in the U.K., increasing market growth. The improvement in the healthcare sector, growth in the healthcare expenditure and awareness among people in Asia pacific region make region show significant growth in the forecast period. Most people face obesity, which is a risk factor for diabetes, propelling the Diabetes Pen Market.

Competitive Intensity Within The Industry   

Several key players are investing in the market and profit from it. The competitive landscape is increasing with time as people acquire newer and better products that can develop market value. The prominent market players are 

  • AstraZeneca in the U.K

  • Teruma Medical Corporation in Japan

  • Greinier Bio One International GmBH in U.S.

  • F. Hoffman La Roche AG in Switzerland

  • Becton, Dickinson and Company in the U.S.

  • Bayer Cropscience Ltd. in Germany¬†

  • HTL STREFA SA in Poland

Recent development  

  • For the first time in NHS in Scotland, a smart insulin injection pen allows people with type one diabetes to easily manage their condition more efficiently.

  • The U.K. diabetes patients will soon receive smart insulin pens that will enable them to self-administer insulin record dosing information and other functions.

Report Overview 

The report provides recent and future developments of the market. It shows if the market will showcase growth shortly. Several methodologies and research are used in this report to captivate information on the market. The report of the Diabetes Pen Market involves analysis, validation, strategies that will propel the market. Several factors of the market are involved in the market, such as drivers, restraints, and challenges that boost the market. It also shows COVID impact, recent development and prominent key players of several regions who are uplifting the value involves analysis, validation, strategies that will propel the market. Diabetes Pen Market Forecast depicts that the market will hold a high CAGR in the forecast period.

Key industrial segments 

By Product 

By Usage

  • Reusable Pens¬†

  • Disposable Pens

By Distribution Channels

  • Hospital Pharmacy

  • Retail Pharmacy

  • Online Sales

  • Diabetes Clinics

Report Scope:

Report Attribute/Metric Details
  Market Size   USD 44.6 billion 2030
  CAGR   4.2% 2022-2030
  Base Year   2021
  Forecast Period   2022-20230
  Historical Data   2020
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Product, Usage, Distribution Channels
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   AstraZeneca (U.K), Teruma Medical Corporation (Japan), Greinier Bio One International GmBH (U.S.), F. Hoffman La Roche AG (Switzerland), Becton, Dickinson and Company (U.S.), Bayer Cropscience Ltd. (Germany), and HTL STREFA SA (Poland)
  Key Market Opportunities

  • Changing lifestyle
  • High intake of carbohydrates and sugar, and obesity
  •   Key Market Drivers

  • Increasing prevalence of diabetes and obesity
  • Growing demand for diabetes pen

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    Frequently Asked Questions (FAQ) :

    The diabetes pen market is expected to grow at a CAGR of 4.2% by 2030

    The players are Teruma Medical Corporation (Japan), AstraZeneca (U.K), F. Hoffman La Roche AG (Switzerland), Greinier Bio One International GmBH (U.S.), Bayer Cropscience Ltd. (Germany), Becton, Dickinson, and Company (U.S.), and HTL STREFA SA (Poland).

    The distribution channels are online sales, retail pharmacy, hospital pharmacy, and diabetes clinics.

    North America is leading the market with maximum market share.

    The Asia Pacific is showing signs of growth with the fastest speed.