Diabetes Pen Market Poised to Acquire a Massive Growth; 8.45% of CAGR – 2023

Diabetes Pen Market Having Worldwide Huge Scope. A diabetes pen is used to inject insulin for the treatment of diabetes. Evolving healthcare infrastructure, improving awareness, large patient pool, and growing healthcare expenditure drive the Asia Pacific diabetes pen market. Insulin is a hormone produced by the pancreas. In Middle East and Africa will witness enduring development because of developing mindfulness in regards to way of lifestyle diseases and preventive measures to handle elevated sugar levels Africa. Taste the market data and market information presented through more than 52 market data tables and figures spread over 80 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Diabetes Pen Market Research Report –Global Forecast till 2023.”

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It is composed of an insulin cartridge (integrated or bought separately) and a dial to measure the dose, and is used with disposable pen needles to deliver the dose. Diabetes is a major chronic disease across the globe. Changing lifestyle, high intake of carbohydrates and sugar, and obesity are major factors elevating the prevalence of the disease. Increasing prevalence of diabetes and obesity and growing demand for diabetes pen drive the market for diabetes pen. Asia Pacific is expected to be the fastest growing market for diabetes pen over the review period.

During forecast period 2017 to 2023, the global diabetes pen market is expected to reach USD 9.85 billion by 2023 at a CAGR of 8.45%.

Big Companies Involved for Diabetes Pen Market:     

Dickinson and Company (U.S.), Bayer Cropscience Ltd. (Germany), and HTL STREFA SA (Poland), AstraZeneca (U.K), Teruma Medical Corporation (Japan), Greinier Bio One International GmBH (U.S.), F. Hoffman La Roche AG (Switzerland), Becton.

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Regional Analysis of Diabetes Pen Market:

Europe is the second-largest market for diabetes pen which is expected to grow at a CAGR of 1.05% from        2017 to 2023. Extensive use of diabetes pen is been found is UK is compared to other European nations. According to the World Health Organization, nearly 60 million people with diabetes in the European Region and the prevalence is higher among people aging 25 years and above.

The global diabetes pen market consists of four regions: Americas, Europe, Asia Pacific and The Middle East & Africa. North America is the largest market for diabetes pen due to large diabetic population and better awareness and reimbursement policy for diabetes management. Additionally, continuous technological advancements in diabetes pen and increasing research and development practices drive this market in North America.

India is experiencing growing demand for diabetes pens due to rising geriatric population with diabetes and irregular changes in sugar levels. Majority of people face the problem of obesity and other lifestyle diseases, which act as risk factors for diabete, which boost the demand for diabetes pen.

Market Segments:

The global diabetes pen market is segmented on the basis of product, which includes insulin pens and insulin pen needles. On the basis of distribution channel, the market is segmented into hospital pharmacy, retail pharmacy, online sales, and diabetes clinics. On the basis of usage, the market is segmented into reusable pens and disposable pens.

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