Global Insulin Pens Market by Types, Applications, and Regions — Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020–2026

Global Insulin Pens Market was valued at USD 3,643 Million in 2018, and is set to grow at CAGR of 8.5% over 2020–2026. The pens are preferred for type 1 diabetes as it is less painful and provides accurate dosages than syringes and vials. Growing geriatric population, rising cases of diabetes and surging usage of insulin pens over conventional vials are factors driving the market.

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Rising prevalence of diabetes in various age groups is an important factor driving the growth of the Global insulin pen market. In addition, increasing R&D activities are also boosting the insulin pen market. However, safety issues related to usage of infusion pen and stringent rules for new products development are restraining the growth of the insulin pen market.

Market Trends, Drivers, Restraints, and Opportunities:

Rising investments in research and development is one of the factors driving the growth of the market.
Cost-effectiveness of insulin pens increases their demand among consumers. This, in turn, fuels market growth.
Concerns regarding the safety issues are hampering the market growth.
Technological advancements related to insulin pens are creating new opportunities in the market.