The Global “Insulin Pens Market” to gain from rising prevalence of diabetes around the world. Fortune Business Insights recently announced a report, titled “Insulin Pens Market Size, Share and Global Trend By Product Type (Disposable, Reusable), By Application (Type 1 Diabetes, Type 2 Diabetes), By Distribution Channel (Online Pharmacies, Hospital Pharmacies, Retail Pharmacies, Diabetes Clinics), Geography Forecast till 2026.” The market is expected to witness high demand in North America owing to the increasing prevalence of diabetes in nations such as the U.S. and Canada. Additionally, rapid technological advancements in insulin pens in the region is likely to propel growth in the market.
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Increasing Healthcare Expenditure to Drive Market
Increasing per capita income and increasing healthcare expenditure are some factors anticipated to drive the global market during the forecast period. Additionally, technological upgrades in the insulin pens is likely to propel adoption of pens.
For instance, Novo Nordisk A/S announced the launch of a bluetooth connected smart insulin pen in 2018. The smart pen is enabled to record the dose of insulin and timely logs. The amount of pain is comparatively less to normal insulin pens. On the contrary, high price of insulin pens and looming risk of administering wrong dose of insulin are some factors that may restrain the global insulin pens market.
Launch of Toujeo to Propel Growth
The global market is witnessing entry of new players in the market. Key developers are focusing on technological upgrades in insulin pens to strengthen their brand presence. For instance, Sanofi received the Food and Drug Administration approval for its new insulin pen, named Toujeo Max SoloStar, in 2018. The pen offers long-lasting insulin action for special patients, in order to reduce the number of injections. This is anticipated to fuel the demand in the global market. Some of the key players operating in the global insulin pens market are B. Braun Melsungen AG, Eli Lilly and Company, Artsana S.p.A., BD, Novo Nordisk A/S, Sanofi, Owen Mumford Ltd., Ypsomed AG, TERUMO CORPORATION, and HTL-Strefa.
Leading Players operating in the Insulin Pens Market are:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- Braun Melsungen AG,
- Eli Lilly and Company,
- Artsana S.p.A.,
- Novo Nordisk A/S,
- Owen Mumford Ltd.,
- Ypsomed AG,
- TERUMO CORPORATION,
By Product Type
- Type 1 Diabetes
- Type 2 Diabetes
By Distribution Channel
- Online Pharmacies
- Hospital Pharmacies
- Retail Pharmacies
- Diabetes Clinics
- North America (USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
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