Global Diabetes Pen Market study has market attractiveness analysis, wherein each segment is benchmarked based on its market size, growth rate, and general attractiveness. The industry report is based on the market type, organization size, availability on-premises and the end-users’ organization type, and the availability in areas such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. It divulges the nature of demand for the firm’s product to know if the demand for the product is constant or seasonal. The info covered in Global Diabetes Pen Market report lends a hand to businesses know how patents, licensing agreements and other legal restrictions affect the manufacture and sale of the firm’s products.
The top notch Global Diabetes Pen Market report gives CAGR value fluctuation during the forecast period of 2021-2028 for the market. Important industry trends, market size, market share estimates are analysed and mentioned in the report. This report helps the firm in exploring new uses and new markets for its existing products and thereby, increasing the demand for its products. The market document provides an in-depth overview of product specification, technology, product type and production analysis considering major factors such as revenue, cost, gross and gross margin. Report is comprehensive and opens a door of international market for the products.
Global Diabetes Pen Market By Indication (Type I Diabetes, Type II Diabetes), Product Type (Insulin Pens, Insulin Pen Needles), Type (Disposable, Reusable) Therapy (Insulin, Glucagon-Like Peptide-1, Growth Hormones, Fertility, Osteoporosis, Others), End Users (Hospitals, Clinics, Home Care Settings), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026 – Industry Trends and Forecast to 2026
Market Analysis: Global Diabetes Pen Market
Global diabetes pen market is growing at a substantial CAGR of 7.8% during the forecast period of 2019 to 2026. The rise in the market is attributed to increasing diabetes prevalence and corresponding rise in patients in need of regular insulin administration.
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Key Market Competitors:
Some of the major players operating in global diabetes pen market are AstraZeneca, BD, Eli Lilly and Company, Biocon, Sanofi, delfu-medical.com., Owen Mumford., Wockhardt Limited (India), Smiths Group plc, P&B Pharmaceuticals Ltd., Nipro Medical Corporation, Novo Nordisk India Pvt Ltd, Injexuk, Mannkind Corporation, Bristol-Myers Squibb Company, F. Hoffmann-La Roche Ltd., Copernicus, YPSOMED, HTL Strefa, Merck & Co., Inc. among others.
Global diabetes pen market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of diabetes pen market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Market Definition: Global Diabetes Pen Market
Insulin pen is equipment used to infuse insulin to a diabetic patient. Patients who are suffering from type 1 diabetes select insulin pen over any other equipment for their treatments. The insulin pen provides easier permeation of insulin in the body, offering precise dosages and less discomfort compared to that of vials and syringes and therefore is referred by patients and clinicians as well. Due to its low cost, its affordability is increasing among people. Insulin pen consist of two categories namely reusable and disposable insulin pens.
According to the Centers for Disease Control and Prevention, in the United States, more than 30 million people are suffering from diabetes and one out of four is not even aware they have it. Many others have pre-diabetes, which means that they have higher than normal blood sugar levels and can decrease their risks of emerging diabetes through pursuing healthy lifestyle changes which includes proper diet and exercise.
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- Growing incidence of needle stick injury is driving the market growth
- Reimbursement for diabetes management is boosting the market growth
- Technological advancement in production of diabetes pens is flourishing the market growth
- Extensive research and development is enhancing the market growth
- Safety issues related to usage is hampering its market growth
- Stringent rules for new products development restricts the market growth
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Segmentation: Global Diabetes Pen Market
- Type I Diabetes
- Type II Diabetes
By Product Type
- Insulin Pen Needles
- Glucagon-like Peptide-1
- Growth Hormones
By End Users
- Home Care Settings
Key Development in the Market:
- In June 2019, Rimidi and Companion Medical announced that they are partnering to upgrade data visualization for patients who are at high risk and are on insulin therapy. This collaboration resulted in the introduction of connected device namely InPen, which is FDA approved. This would further quicken the trial and error process of classifying the adequate dose for each patient along with reducing costs
Reasons to Purchase this Report
- Current and future of global diabetes pen market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)
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