Insulin Pens Market (Covid-19) Impact and Analysis by 2027 | Novo Nordisk A/S, Owen Mumford, Sanofi, Ypsomed AG, Biocon, Companion Medical, BERLIN CHEMIE AG, Eli Lilly and Company, pendiq, and Emperra GmbH E-Health Technologies among others

The Insight Partners analysts forecasts the latest report on “Insulin Pens Market (Covid-19) Impact and Analysis by 2027”, according to report; The Insulin Pens Market report covers the overall and all-inclusive analysis of Market with all its factors that have an impact on market growth. This report is anchored on the thorough qualitative and quantitative assessment of the Insulin Pens Market.

The study provides details such as the market share, Market Insights, Strategic Insights, Segmentation and key players in the Insulin Pens Market.

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The insulin pens market was valued at US$ 4,199.7 million in 2018 and is expected to grow at a CAGR of 8.8% from 2019 to 2027 to reach US$ 8,862.0 million by 2027.

Some of the Major Market Players Are:

Novo Nordisk A/S
Owen Mumford
Sanofi
Ypsomed AG
Biocon
Companion Medical
BERLIN CHEMIE AG
Eli Lilly and Company
pendiq
Emperra GmbH E-Health Technologies

Market Insights

Rising incidence of diabetes

Diabetes is a life-threatening chronic disease with no specialized cure. It is mainly caused by the body’s inability to produce or effectively utilize the hormone insulin. This inability prevents the body from adequately regulating blood glucose levels. There are two types of diabetes namely diabetes type-I also known as diabetes insipidus and diabetes type-II also termed as diabetes mellitus. Incidences and prevalence of diabetes is steadily increasing across the globe. Type 2 diabetes is the most prevalent form of diabetes and has increased alongside cultural and societal changes. In high-income countries up to 91% of adults with the disease have type 2 diabetes.

According to International Diabetes Federation (IDF), approximately 425 million people were living with diabetes in 2017 and it is expected to reach 629 million by 2045 across the globe. Additionally, according to BMJ Open Diabetes Research & Care, approximately 387 million patients across the globe suffer with diabetes, out of which 5-10% are victims of type-1 diabetes that require regular insulin doses. Patients suffering from diabetes require frequent monitoring and external administration of insulin that is given through insulin pens and other medical devices. The rising prevalence of diabetes across the globe is expected to drive the growth of the insulin pens market worldwide during the forecast period.

Product Type Insights

The global insulin pens market, based on product type is segmented into reusable, disposable, and smart insulin pen caps. In 2018, the reusable segment held the largest share of the market, by product type. This is attributed advanced features that make reusable insulin pens safe and convenient, ease of use and the ability to deliver highly accurate doses. Moreover, the smart insulin pen caps segment of insulin pens market is expected to witness growth in its demand at a fastest CAGR of 9.9% during 2019 to 2027.
Application Insights

The global insulin pens market, based on application is segmented into type-1 diabetes and type-2 diabetes. In 2018, the type-1 diabetes segment held the largest share of the market, by application. Moreover, the type-1 diabetes segment of insulin pens market is also expected to witness growth in its demand at a fastest CAGR of 9.1% during 2019 to 2027. The dominance and growth of the diabetes type-1 segment attributes to requirement of these devices predominantly among type-1 diabetes patients and ease of insulin delivery faced by these patients with the use of these pens.

Distribution Channel Insights

The global insulin pens market, based on the distribution channel was segmented into hospital pharmacies, retail pharmacies, and e-commerce. In 2018, the retail pharmacies segment held the largest share of the market, by distribution channel. In addition, the e-commerce segment is expected to grow at the fastest rate during the coming years owing to increasing use of online and mobile applications and websites by patients in the coming years.

Strategic Insights

Product launch, expansion of product portfolio and geographic expansion strategies are commonly adopted by companies to expand their footprint worldwide and meet the growing demand. This strategy is mostly observed in North America, Europe and Asia Pacific. The players present in the insulin pens market adopt the strategy of expansion and investment in research and development to enlarge customer base across the world, which also permits the players to maintain their brand name globally.

Insulin pens Market – By Product Type

• Disposable
• Reusable
• Smart Insulin Pen Caps

Insulin pens Market – By Application

• Diabetes Type-1
• Diabetes Type-2

Insulin pens Market – By Distribution Channel

• Hospital Pharmacies
• Retail Pharmacies
• E-Commerce

The report analyses factors affecting the Insulin Pens Market from further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Insulin Pens Market in these regions.

Moreover, the report entails the estimate and analysis for the Insulin Pens Market on a global as well as regional level. The study provides historical data as well as the trending features and future predictions of the market growth. Further, the report encompasses drivers and restraints for the Insulin Pens Market growth along with its impact on the overall market development. In addition, the report provides an analysis of the accessible avenues in the market on a global level.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global Insulin Pens Market based on various segments. It also provides market size and forecast estimates from the year 2018 to 2027 with respect to five major regions. The Insulin Pens Market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

Promising Regions & Countries Mentioned in The Insulin Pens Market Report:

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East & Africa

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Major Features of Insulin Pens Market Report:

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Insulin Pens market
• Highlights key business priorities in order to assist companies to realign their business strategies.
• The key findings and recommendations highlight crucial progressive industry trends in the global Insulin Pens market, thereby allowing players across the value chain to develop effective long-term strategies.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution.

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