Diabetes Injection Pens Market

Report Overview

The global diabetes injection pens market was pegged at US$ 7.0 billion in 2020 and is expected to witness a CAGR of 7.6% during the forecast period.

Market Fundamentals

Diabetes injection pens help in the delivery of insulin to people suffering from diabetes. These pens contain a dial to measure dosage, cartilage, and a disposable needle. They are available in two forms viz. disposable and reusable. Disposable pens contain a prefilled cartilage and the entire pen is thrown away when it is empty. Whereas reusable pens allow replacing the cartilage when one gets empty. These pens help to deliver from 0.5 to 80 units of insulin at a time.

Insulin pens have several advantages over traditional insulin delivery methods. The advantages of using an insulin pen include user-friendliness, flexibility, and precise dose delivery, among others. Moreover, few pens have a memory feature that indicates the time and measure of the last dose.

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Market Dynamics

The global diabetes injection pens market is mainly driven by the increasing prevalence of diabetes and the rising preference for self-management of diabetes. Moreover, technological advancements, new product launches, and increasing awareness of the benefits of using the insulin pen are some of the other factors playing a pivotal role to boost the diabetes injection pens market. However, the comparatively higher cost of diabetes injection pens and availability of alternatives such as patches and tablets are likely to hinder the market growth to a certain extent.

Market Ecosystem

The global diabetes injection pens market has been analyzed from four perspectives: Product Type, Usage Type, Distribution Channel, and Region.

Diabetes Injection Pens Market by Product Type

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Based on product type, the diabetes injection pens market has been segmented into insulin pens and pen needles. The insulin pens segment dominated the diabetes injection pens market in 2020. One of the major factors driving the segmental growth is the significantly growing demand for insulin pens owing to their user-friendliness and higher dose accuracy.

Diabetes Injection Pens Market by Usage Type

Based on usage type, the diabetes injection pens market has been segmented into reusable pens and disposable pens. The disposable pens segment held the largest market share of the diabetes injection pens market in 2020. Factors contributing to the growth of this segment include the advantages of using disposable syringes such as the lower risk of infections and greater dose accuracy.

Diabetes Injection Pens Market by Distribution Channel

Based on the distribution channel, the diabetes injection pens market has been segmented into hospital pharmacies, retail pharmacies, and online stores. The retail pharmacy segment held the largest market share in 2020, owing to ease of access to this distribution channel to patients.

Diabetes Injection Pens Market by Region

Regionally, the global diabetes injection pens market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America held the largest market share of the global diabetes injection pens market in 2020. The rising prevalence of diabetes is the major factor driving the growth of the diabetes injection pens market. According to National Diabetes Statistics Report, in 2018, 34.2 million people, or approximately 10.5% of the US population had diabetes. Moreover, factors such as the growing adoption of the diabetes injection pen, rising preference for diabetes self-management among patients, and the launch of technologically advanced products by players in this region are having a positive impact on the market growth.

Competitive Landscape

Some of the prominent players operating in the global diabetes injection pens market includes:-

• Novo Nordisk A/S
• B. Braun Melsungen AG
• Becton Dickinson
• Eli Lilly and Company
• Gerresheimer AG
• Sanofi
• F. Hoffmann-La Roche Ltd
• AstraZeneca
• Biocon
• Owen Mumford Ltd., among others

Strategic Developments

• In November 2020, Medtronic launched a smart insulin pen viz. 'InPen,s for people in need of multiple daily injections. The pen is integrated with the real-time Guardian Connect Continuous Glucose Management (CGM) data. This integrated system provides real-time glucose readings and dosage information to the users.
• In August 2020, Biocon Biologics and Mylan launched Semglee (insulin glargine injection) in the vial and pre-filled pen forms in the U.S. Semglee is approved by the FDA to help control high blood sugar in adult and pediatric patients with type 1 diabetes and adults with type 2 diabetes.
• In August 2020, Medtronic acquired Companion Medical, the manufacturer of InPen, an FDA-cleared smart insulin pen system paired with an integrated diabetes management app.
• In February 2020, Companion Medical, a manufacturer of InPen, smart insulin pen, and mobile app-based diabetes management system, received clearance from the FDA for the use of Novo Nordisk's Fiasp rapid-acting insulin.
• In January 2020, Innovation Zed Ltd. entered into a commercial partnership agreement with A. Menarini Diagnostics, a diagnostics and preventive medicine company, to market the insulin pen 'InsulCheck Connect' add-on device

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