The Global Diabetes Pen Market is expected to grow at a CAGR of approximately 8.45%
during the forecast period 2017-2023.
Insulin is a hormone produced by the pancreas. A diabetes pen is used to inject insulin for
the treatment of diabetes. It is composed of an insulin cartridge (integrated or bought
separately) and a dial to measure the dose, and is used with disposable pen needles to
deliver the dose. Diabetes is a major chronic disease across the globe. Changing lifestyle,
high intake of carbohydrates and sugar, and obesity are major factors elevating the
prevalence of the disease. Increasing prevalence of diabetes and obesity and growing
demand for diabetes pen drive the market for diabetes pen.
Key Players for Diabetes Pen Market
Some of the key players in this market: 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)
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Segments
The Global Diabetes Pen Market is segmented on the basis of product, which includes insulin
pens and insulin pen needles. On the basis of usage, the market is segmented into reusable
pens and disposable pens. On the basis of distribution channel, the market is segmented
into hospital pharmacy, retail pharmacy, online sales, and diabetes clinics.
Regional Analysis of Diabetes Pen Market
The global diabetes pen market consists of four regions: Americas, Europe, Asia Pacific and
The Middle East & Africa. North America is the largest market for diabetes pen due to large
diabetic population and better awareness and reimbursement policy for diabetes
management. Additionally, continuous technological advancements in diabetes pen and
increasing research and development practices drive this market in North America.
Europe is the second-largest market for diabetes pen which is expected to grow at a CAGR
of 1.05% from 2017 to 2023. Extensive use of diabetes pen is been found is UK is compared
to other European nations. According to the World Health Organization, nearly 60 million
people with diabetes in the European Region and the prevalence is higher among people
aging 25 years and above.
Asia Pacific is expected to be the fastest growing market for diabetes pen over the review
period. Evolving healthcare infrastructure, improving awareness, large patient pool, and
growing healthcare expenditure drive the Asia Pacific diabetes pen market. Furthermore,
new product launch and favorable regulations speed up the growth of this market in Asia
Pacific. India, Japan and China is expected to be the emerging and fastest growing market.
India is known as the hub of diabetes across the world. India is experiencing growing
demand for diabetes pens due to rising geriatric population with diabetes and irregular
changes in sugar levels. Majority of people face the problem of obesity and other lifestyle
diseases, which act as risk factors for diabete, which boost the demand for diabetes pen.
In Middle East & Africa will witness steady growth due to growing awareness regarding
lifestyle diseases and preventive measures to tackle elevated sugar levels Africa.
ToC of Diabetes Pen Market