The Diabetes Disposable Insulin Pen Market - Global Market Share, Trends, Analysis and Forecasts, 2020-2030 provides insights on key developments, business strategies, research & development activities, production and consumption, supply chain analysis, competitive landscape, and market composition analysis.
Diabetes is increasing at an alarming rate across the globe. Based on statistics from Centers for Disease Control’s National Diabetes Statistics Report for 2017, cases of diabetes have risen to an estimated 30.3 million in the United States alone. Additionally, according to World Health Organization, the prevalence of diabetes has increased by a significant margin of 4% over last 3 decades. This has resulted in prominent spending on diagnosis and treatment of diabetes across the globe. Moreover, with increase in Type 2 diabetic patients, the demand for insulin pens has propelled exponentially. Disposable insulin pens are easy to use and are gaining popularity. Consequently, the global diabetes disposable insulin pen market is anticipated to grow at a double digit compound annual growth rate during forecast period.
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High prevalence and rising demand from Type 2 diabetes patients to drive market growth
The global diabetes disposable insulin pens market is segmented on the basis of diabetes type, distribution channel and geography. Based on diabetes type, the global diabetes disposable insulin pens market is segmented into Type 1 diabetes, and Type 2 diabetes. Based on diabetes type, the market was dominated by Type 2 diabetes owing to paramount requirement from Type 2 patients, The Type 2 patients need to administer insulin by means of injection or pump on regular basis in order to work without any incident. Moreover, increasing number of Type 2 diabetes patients across the globe is anticipated to fuel the adoption of diabetes disposable insulin pen market in coming years. The demand for diabetes disposable pen from Type 1 patients is anticipated to be steady during the forecast period, as Type 1 patients account for approximately 6.0% of the total global diabetes patients.
Emergence of online pharmaceutical distribution channel to dynamically shape diabetes disposable insulin pens market
Based on distribution channel, the global diabetes disposable insulin pens market is segmented into hospitals, clinics, chemists and others. Diabetes disposable insulin pen market was primarily dominated by distribution of these pens through chemists. Demand from hospitals and clinics is primary driven through the purchase of insulin pen when a patient visits for diagnostic purpose. However, with ease of availability at chemist shops, the patients prefer purchase from chemist store. This is analyzed to be the prime attribute supporting the sale of diabetes disposable insulin pen through chemist stores. Moreover, increasing availability of disposable insulin pens through online sales channel is anticipated to supplement the growth of market during the forecast period.
Based on geography, the market is segmented into North America, South America, Europe, Asia Pacific, and Middle East & Africa. North America dominated the diabetes disposable insulin pen market in 2018 and is anticipated to be the dominating market throughout the forecast period. Based on Centre for Disease Control and Prevention - U.S. Department of Health & Human Services statistics, approximately 11% of the total population in the United States is diagnosed with diabetes. High awareness, ease of availability of disposable insulin pens and increasing investment on diabetes treatment are anticipated to bolster market growth in North America and Europe. Asia Pacific is anticipated to witness heavy adoption of disposable insulin pens over forecast period owing to rising awareness across major economies.
Major players dominating the global diabetes disposable insulin pen market include B. Braun Melsungen AG, BD, Eli Lilly and Company, MTD Medical Technology and Devices S.A. (HTL-STREFA and Pikdare S.p.A.), Novo Nordisk A/S, Owen Mumford Ltd, sanofi-aventis U.S. LLC, and Ypsomed AG.
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