Insulin Pens, Syringes, Pumps And Injectors Market Research And Strategies For Expansion 2024-2033

The insulin pens, syringes, pumps and injectors market size has grown strongly in recent years. It will grow from $23.3 billion in 2023 to $25.36 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to rising diabetes prevalence, advancements in insulin delivery, patient preference for convenience, aging population.

The insulin pens, syringes, pumps and injectors market size is expected to see strong growth in the next few years. It will grow to $34.41 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to emerging markets growth, regulatory support and reimbursement, personalized medicine, value-based healthcare. Major trends in the forecast period include artificial intelligence (ai) integration, handheld and wireless ultrasound devices, 3d/4d imaging, fusion imaging.

Market Overview -
Insulin pens, syringes, pumps, and injectors are used to administer insulin to diabetic patients to control blood glucose levels. These devices are reusable or disposable tools used to inject the desired dose of insulin into the blood of a diabetic patient.

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Rising Global Diabetes Prevalence Drives Growth In Insulin Pens, Syringes, Pumps And Injectors Market
An increase in the prevalence of diabetes globally is driving the growth of the insulin pens, syringes, pumps, and injectors market. The increase in the number of people suffering from obesity, unhealthy eating habits, physical inactivity, and the increasing geriatric population are some of the key factors which are leading to the increase in the global prevalence of diabetes. According to the US Centers for Disease Control and Prevention (CDC) in 2020, around 34.2 million people in the U.S. were suffering from diabetes. Also, according to the International Diabetes Federation, in 2021, globally approximately537 million adults were living with diabetes; by 2045, this number would rise to 783 million. Therefore, the increase in the prevalence of diabetes globally is driving the growth of the insulin pens, syringes, pumps, and injectors market.

Competitive Landscape -
Major companies operating in the insulin pens, syringes, pumps and injectors market include Novo Nordisk A/S, Eli Lilly and Company, Medtronic plc, Abbott Laboratories, Insulet Corporation, Sanofi Aventis, F. Hoffmann-La Roche Ltd, Becton Dickinson and Company, Animas Corporation, Ypsomed Holding AG, Dickinson and Company, Valeritas Inc., MannKind Corporation, Tandem Diabetes Care Inc., Biocon Ltd., B. Braun Melsungen AG, Terumo Corporation, Teleflex Incorporated, Nipro Corporation, Smiths Medical Inc., Owen Mumford, UltiMed Inc., Ypsomed Holding, Ascensia Diabetes Care, Trividia Health, ARKRAY Inc., AgaMatrix Inc., Medline Industries LP, Gerresheimer AG, West Pharmaceutical Services Inc., SHL Medical AG, Zhejiang POCTech Medical Co.Ltd., Jiangsu Wanhai Medical Instruments Co. Ltd.

FDA Approves Omnipod 5 A Revolutionary Step In Safe And Effective Insulin Delivery
Many companies are focusing on technological advancements in insulin delivery systems to deliver insulin effectively and safely. For instance, in September 2022, the FDA approved the use of Omnipod 5 for children over 2 years with type 1 diabetes. Omnipod is the first tubeless automated insulin delivery aid for people with type 1 diabetes.

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Key Segments -
The insulin pens, syringes, pumps and injectors market covered in this report is segmented -
1) By Type: Pens, Injectors And Pumps, Syringes
2) By Pens: Reusable, Disposable
3) By Pumps: Tubed Pumps, Tubeless Pumps
4) By End Users: Hospitals, Homecare, Other End Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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