Industry Background:
Insulin Pen is a pen used to inject insulin for the treatment of diabetes patients. The sleek design & compact size of insulin allows to easily deliver insulin anywhere by measuring & delivering from 0.5 to 80 units of insulin at a time. The maximum dose & the incremental amount vary depending upon the type of insulin pen being used. The insulin pen with its design allows accurate, simplified & convenient delivery. The insulin pen which are equipped & have auto shield needle may offer greater accuracy while injecting a dose. Insulin pens are easy to use and preferable for older people having diabetes. Insulin pen has ability to fine tune & deliver highly accurate doses with portable, discreet & convenient nature of pen. Insulin pen have small & thin needle size which reduces the pain & fear for injecting insulin. It is one of the time saving device with memory features as well to show when & how much the last dose was. As the insulin pens are equipped with pre-filled & replaceable needle features, preference for the insulin pen continue to remain high in global market. These pens may be reusable or disposable. Disposable pen contain a pre-filled insulin cartridge which is thrown away when the cartridge is empty and this cartridge easily disposable. The reusable pen contain a replaceable insulin cartridge. Once the cartridge is empty it may be discarded & put the new cartridge for use.
According to AMA Research, the market for Insulin Injection Pen is expected to register a CAGR of 7.2% during the forecast period to 2030. This growth is primarily driven by Easy to carry as portable & available in compact size
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Medical Devices sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Becton Dickinson (United States), Novo Nordisk (Denmark), B. Braun Melsungen (Germany), Spirit Healthcare (United Kingdom), Terumo Corporation (Japan), Ypsomed Holding AG (Switzerland), Medtronic plc (Ireland), Biocorp (France), Dongbao Enterprise Group Co., Ltd. (China), Allison Medical (United States), UltiMed Inc. (United States), Shanghai Beipu Medical Co. Ltd. (China) and HTL-STREFA (Poland), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 11th August 2020, Medtronic plc the global leader in medical technology announced the planned acquisition of privately-held Companion Medical, manufacturer of InPen — the only U.S. FDA-cleared smart insulin pen system paired with an integrated diabetes management app on the market. The addition of Companion Medical’s InPen to the Medtronic portfolio expands the company’s ability to serve people where they are in their diabetes journey and offer them a unique and expansive ecosystem of support — regardless of how insulin is delivered.
On 13th April 2021, BioCorp and Roche Diabetes Care France announced the launch of the Mallya smart insulin pen device in France. Developed by BioCorp, Mallya is an intelligent sensor for insulin injection pens that has CE mark approval in Europe. The platform is compatible with any disposable insulin pen. It enables reliable monitoring for doses selected for injection and it offers patients with diabetes better compliance with their treatment, according to the companies.The Insulin Injection Pen companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Regulatory Insights:
FDA's Center for Devices & Radiological Health (CDRH) is responsible for regulating firms that manufacture, repackage, relabel, &/or import medical devices. Food & Drug Administration (FDA) & World Health Organization (WHO) are providing the guidelines regarding the risk associated with medical devices to ensure patient safety & to check the effectiveness of the devices.
Influencing Trend:
Reusable insulin pens i.e. replaceable cartridge and Other infusion devices are becoming technologically advanced
Market Growth Drivers:
Easy to carry as portable & available in compact size, Shows accuracy in measuring & delivering insulin, Ease of usability, Provision of data regarding last dose, Replaceable needles & cartridge increases lifespan of product and Low cost
Challenges:
strict government rules for new products development
Restraints:
customers are becoming more conscious regarding safety issues
Opportunities:
Increasing arrival of diabetes in various age groups, Inclination of the customers towards Time saving device due to busy life and Emergence of affordable devices for such a common disease like diabetes
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Insulin Injection Pen Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Insulin Injection Pen Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Insulin Injection Pen players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Insulin Injection Pen Study Sheds Light on
The Insulin Injection Pen Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Insulin Injection Pen industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Insulin Injection Pen industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.