The global diabetes injection pens market report provides a qualitative and quantitative analysis from 2016 to 2024. The global diabetes injection pens market is expected to grow at an 8.3 percent CAGR between 2018 and 2024, according to the report. The study on the diabetes injection pens market examines the leading geographies such as North America, Europe, Asia-Pacific, and RoW from 2016 to 2024.
Insulin pen needles are used in conjunction with an insulin pen to administer insulin injections. They are available in a variety of needle lengths and diameters and are individually wrapped to ensure sterility. Diabetic insulin pens are shaped like pens, which are used to write. Their operation is comparable to that of insulin syringes. They are available in both reusable and disposable varieties. Reusable models rely on an insulin cartridge. Insulin is prefilled in disposable pens. One of the primary benefits of using an insulin pen is that it has memory storage and is simple to use.
The diabetes injection pen market is being driven by the increasing demand for next-generation insulin pens/intelligent pens. Intelligent pens are the most common and preferred for insulin injection. These pens are simple to use and are available in both disposable and reusable varieties. These pens have a memory that allows the user to determine how long it has been since their last injection. The next-generation insulin pens are more than just memory devices. These pens have Bluetooth built-in, allowing patients to track trends and doses and share the data for more comprehensive management. Furthermore, the next-generation insulin pens have a better design that reduces injection force, improves accuracy, and makes them easier to use. A lengthy process of governmental approvals for new product launches, on the other hand, acts as a barrier to market growth. Ease in new product approvals, as well as mergers and acquisitions, may create growth opportunities for the diabetes injection pens market shortly.
Geographically, North America dominated the market in 2017, followed by Europe. The presence of a Major Medical Devices Company and specialty clinics for diabetic management in these two regions has driven growth in these areas over the last few years. Additionally, raising awareness about diabetes self-management education would boost the market growth. The Asia-Pacific region is expected to grow faster than other regions, owing to rising per capita healthcare expenditure, expanding healthcare infrastructure, and rising awareness of the use of injection pens in Asia-primary Pacific markets such as India.
The diabetes injection pens market report is an in-depth examination and presentation of the global diabetes injection pens market's drivers, restraints, opportunities, demand factors, market size, forecasts, and trends from 2016 to 2024. Furthermore, the report is a compilation of primary and secondary research findings.
The report's Porter's five forces model provides insights into the competitive rivalry, supplier and buyer positions in the market, and opportunities for new entrants in the global diabetes injection pens market from 2016 to 2024. Furthermore, the Growth Matrix h Matrix provided in the report provides insight into the investment areas that existing or new market players can consider.