Global Diabetes Injection Pen Market growing at a CAGR of 4.2% from 2023 to 2031
Category : Medical Devices | Published Date : Oct 2023 | Type : Press Release
Key Market Overview
Consegic Business Intelligence analyzes that the diabetes injection pen market is predicted to grow at a compound annual growth rate of 4.2% from 2023 to 2031 and is expected to reach USD 32,401.53 million in 2031 and 23,358.08 million in 2023 which was valued at USD 22,534.28 million in 2022.
The report highlights the growing preference for injection pens across the globe, which is augmenting the global market growth. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the diabetes injection pen market.
Global Diabetes Injection Pen Market By Overview
The diabetes injection pen market is bifurcated into product type, usage, end user, and distribution channel. Based on the product type, the market is segmented into insulin pen and insulin pen needle. In 2022, the insulin pen needle segment dominates the overall diabetes injection pen market. Based on usage, the market is segmented into reusable pens and disposable pens. In 2022, the reusable pens segment dominate the overall diabetes injection pen market. Based on the end user, the market is segmented into home care, hospitals, diagnostic centers, and others. In 2022, the home care segment dominate the overall diabetes injection pen market. Based on distribution channel, the market is segmented into hospital pharmacies, retail pharmacies, online pharmacies, and diabetes clinics. In 2022, the retail pharmacies segment dominate the overall diabetes injection pen market.
Get Free SampleMarket Dynamics
Driver:
- Growing preference for injection pens.
- Increasing prevalence of diabetes across the globe
Restraints:
- Growing preference for insulin patches.
Market Segmentation:
| Report Attributes | Report Details |
| By Product Type | Insulin Pen and Insulin Pen Needle |
| By Usage | Reusable Pens and Disposable Pens |
| By End User | Home Care, Hospitals, Diagnostic Centers, and Others |
| By Distribution Channel | Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, and Diabetes Clinics |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The market is dominated by certain major companies such as B. Braun, Emergent BioSolutions Inc., Novo Nordisk, Eli Lilly and Company and Biocon, which have a strong market position in the current market circumstances. These companies are continuously leveraging new technologies to develop innovative solutions. Furthermore, the diabetes injection pen market is expected to witness substantial growth in the coming years due to technological advancements in making smart insulin pens in key regions such as North America, Asia Pacific, and others.
The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships.
- B. Braun
- Novo Nordisk
- Eli Lilly and Company
- Ypsomed
- Biocon
- Medtronic
- BIGFOOT BIOMEDICAL
- Emperra GmbH E-Health Technologies
- Owen Mumford
- Haselmeier
- Tonghua Dongbao Pharmaceutical Co., Ltd.
- Gan & Lee Pharmaceuticals
