DUBLIN, Dec. 22, 2022 /PRNewswire/ — The “Global Insulin Pen Market, Users, Global Forecast 2023-2027, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis” report has been added to ResearchAndMarkets.com’s offering.
Global Insulin Pump Market is estimated to reach US$ 64.75 Billion by 2027 from US$ 50.84 Billion in 2021 and is expanded to expand with a CAGR Of 5.18% During 2022-2027.
An insulin pen is a device that administers insulin to diabetic individuals. Patients with type 1 diabetes choose to use it for therapy, making it easy to inject insulin into the body. Insulin pen needles are thinner and shorter than those used in syringes. It also gives more exact dosing and less pain than vials and syringes, and clinicians and patients prefer it.
Furthermore, the insulin pen improves the quality of life and minimizes the dread of hyperglycaemia. The low cost of an insulin pen makes it more accessible to people of all ages. However, insulin pens should not be shared since infections like hepatitis can be transmitted.
Major Market Trends Shaping the Insulin Pen Market Worldwide:
With the high base of the aging population, which causes diabetes, the global insulin pen market has the enormous potential over time. As a result, manufacturers are concentrating their measures on the Asian market to meet the demand for insulin pen devices. The rising prevalence of diabetes among people of various ages is a major factor driving the global insulin pen market.
In addition, the insulin pen industry is benefiting from increased R&D activity. However, concerns over infusion pen safety and strict regulations for new product development are limiting the expansion of the insulin pen business.
COVID-19 Impact Analysis on Global Insulin Pen Industry:
According to the IDF, people with diabetes were more likely to acquire COVID-19 disease and have severe symptoms. As a result, demand for insulin pens use soared during the COVID-19 pandemic. As a result, the homecare insulin pen business exploded worldwide due to the epidemic.
Furthermore, demand for automated and efficient insulin pens soared throughout the epidemic. Moreover, as per our analysis, Global Insulin Pen Market will reach
Competitive Landscape:
The global Insulin Pump Market is competitive, with only a few businesses competing. Among the major players covered in our study are B. Braun Melsungen AG, Eli Lilly and Company, Becton, Dickinson (BD), Novo Nordisk A/S, Ypsomed AG, and Terumo Corporation. These firms control a significant portion of the global market.
In addition, they are constantly expanding into new markets to produce new revenue streams and improve existing ones. These market actors’ actions will foster competition, forcing enterprises to experiment with the latest technology to differentiate their products. Companies are also partnering to improve their technical understanding and save product development time.
Companies Covered:
B. Braun Melsungen AG
Eli Lilly and Company
Becton, Dickinson(BD)
Novo Nordisk A/S
Ypsomed AG
Terumo Corporation
Scope of the Report
Types – The market has been covered from 4 viewpoints:
Disposable Insulin Pen
Reusable Insulin Pen
Smart Insulin Pen
Insulin Pen Needle
Country – The market has been covered from 11 viewpoints:
United States
India
China
Brazil
Saudi Arabia
United Kingdom
Germany
Netherlands
Sweden
Switzerland
Australia
The above-mentioned countries have been covered from 4 viewpoints:
Diabetes Population
Type 1
Type 2
Market & User Analysis
Insulin Pen Market
Insulin Pen User
Types – Insulin Pen Market & Users
Disposable Insulin Pen
Reusable Insulin Pen
Smart Insulin Pen
Insulin Pen Needle Market
Reimbursement Policies
For more information about this report visit https://www.researchandmarkets.com/r/jwqvmg
Media Contact:
Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
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The grant will support the preclinical and clinical development leading toward commercialization of iTOL-102, a potential cure for diabetes that does not require chronic immune system suppression
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