Insulin Pens Market size to surpass around US$ 10.1bn by 2031 | B. Braun Melsungen AG, Eli Lilly and Company, Artsana S.p.A.

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Global Insulin Pens Market is expected to reach $10.1bn by 2031 growing at a CAGR of 6.7% between 2021 and 2031.

An insulin pen is an infusion device used to infuse insulin into diabetic patients. Patients suffering from type 1 diabetes prefer insulin pens for their management. Insulin pen overtures simpler administration of insulin into the body. It provides more precise dosages and less pain compared to vials and syringes and is also preferred by clinicians and patients.

Market Drivers:

Increasing prevalence of diabetes across the globe
Diabetes is a chronic disease that occurs either when the pancreas is unable to synthesize enough insulin or when the body cannot effectively use the insulin prepared by it. Insulin is a hormone that regulates blood sugar. Hyperglycaemia is a common effect of uncontrolled diabetes and over time leads to serious damage to many of the body's systems, majorly the nerves and blood vessels. In 2014, 8.5% of adults aged 18 years and older had diabetes. In 2019, diabetes was the direct cause of 1.5 million deaths and 48% of all deaths occurred before the age of 70 years.

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Market Segments:

By Product Type
Reusable Insulin Pen
Disposable Insulin Pens
Indication

Type 1 Diabetes
Type 2 Diabetes
Distribution Channel

Hospital Pharmacy
Retail Pharmacy

Market Players of Global Insulin Pens Market:

The key players of global insulin pens market are B. Braun Melsungen AG, Eli Lilly and Company, Artsana S.p.A., BD, Sanofi, Owen Mumford Ltd., Ypsomed AG, TERUMO CORPORATION, HTL-Strefa, Biocon, Julphar and Novo Nordisk among others.

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