The global disposable insulin pens market size was USD 18.1 Billion in 2022 and is likely to reach USD 35.47 Billion by 2031, expanding at a CAGR of 7.5% during the forecast period, 2023–2031. The market growth is attributed to the rising focus on patient-centric care and increasing self-management of diabetes.
Self-management of diabetes is estimated to boost the demand for disposable insulin pens in coming years as it manages diabetes effectively by checking blood sugar regularly and taking insulin and medicines as prescribed. Self-management of diabetes propel diabetic patient to adopt insulin to control high blood sugar level, significantly increasing the demand for disposable insulin pens.
An insulin pen is a device to inject insulin into a patient body for the treatment of diabetes. Disposable insulin pens contain prefilled amounts of insulin and are thrown away after the insulin cartridge is empty. These pens are injected directly at the abdomen, upper arm, thigh, lower back, hips, or buttocks with a quick motion into the patient’s skin at a 90-degree angle.
Disposable insulin pens are widely adopted to manage blood sugar levels as it offers a convenient option to treat diabetes.
The COVID-19 pandemic boosted the demand for disposable insulin pens, as the patients infected with COVID-19 were given priority for the treatment of diabetes. COVID-19 infection directly affected the respiratory system and the blood sugar level in the patient’s body, and insulin was used to control sugar levels in the patient’s body.
Patients with diabetic mellitus (DM) coupled with COVID-19 infection faced difficulties in glycemic control. This leads to an increase in blood glucose and HbA1c, which resulted in the need for insulin infusion, resulting, in turn, boosted the demand for disposable insulin pens.
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For instance, on September 4, 2021, the National Institute of Health published a report stating that diabetes mellitus carries a significant risk of complications and mortality in COVID-19-infected patients. Therefore, insulin is preferred to oral hypoglycemic medications in the management of hospitalized COVID-19-infected diabetic patients.
Disposable Insulin Pens Market Dynamics
Major Drivers
Increasing prevalence of diabetes is anticipated to drive the market growth. Disposable insulin pens are used to treat patients with diabetes by injecting insulin into patients’ bodies as insulin is essential to control blood sugar levels in the body by turning food into energy.
Rising geriatric population coupled with diabetes across the globe is projected to boost the demand for the disposable insulin pen. Geriatric populations highly used disposable insulin pens as these are easy to use and have portability with thin needles to lessen pain.
Existing Restraints
Rising concern regarding the use of disposable insulin pens hampers the market. Factors such as wrong insulin type, dose omission, under and overdosing, incorrect use of insulin delivery devices, and improper patient monitoring are rising concerns regarding using insulin pens for diabetes treatments.
Additionally, two types of insulin cannot be mixed in disposable insulin pens, as they are prefilled with the dosage, leading to injection use, resulting to impede the market growth.
Emerging Opportunities
Increasing investment in R&D for innovative products and features creates a lucrative opportunity in the market. Major companies are working on smart insulin pens that are integrated with mobile apps to calculate and track dosage and provide reminders and alerts for upcoming dosages. Moreover, large unmet insulin needs in developing countries are likely to fuel the market.
Scope of Disposable Insulin Pens Market Report
The market report includes an assessment of the trends, market, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Disposable Insulin Pens Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Application (Type 1 Diabetes and Type 2 Diabetes), Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and End-User (Hospitals, Clinics, Homecare, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast
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Key Players Covered in the Report
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BD; Novo Nordisk A/S; Sanofi; OWEN MUMFORD; WOCKHARDT; Wanhai Medical Instruments Co., Ltd.; B. Braun SE; Lilly; YPSOMED; Terumo Corporation; and HTL-STREFA
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Disposable Insulin Pens Market Segment Insights
Application Segment Analysis
Based on application, the disposable insulin pens market is bifurcated into type 1 diabetes and type 2 diabetes. The type 1 diabetes segment is estimated to hold a large market share during the projected period, as people suffering from type 1 diabetes need to take insulin every day to control their sugar levels.
Type 1 diabetes leads to pancreas dysfunctionality, which fails to produce insulin in the body. This requires external insulin to control blood sugar levels, which significantly boosts the demand for disposable insulin pens.
Distribution Channel Segment Analysis
On the basis of distribution channel, the global market is segregated into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment held a large market share in 2022 and is expected to grow at a significant pace during the forecast period, due to genuine and easy availability of drugs all around the year. Moreover, it allows transparent communication between prescriber and patient.
The online pharmacies segment is anticipated to witness a significant CAGR during the projected period owing to its potential ability to offer better pricing and increased convenience to diabetic patients. Online pharmacies offer easy accessibility to patients with limited mobility by providing doorstep drug delivery discounts, and validation of prescriptions through licensed pharmacists, significantly boosting the segment growth.
End-User Segment Analysis
In terms of end-user, the disposable insulin pens market is categorized into hospitals, clinics, homecare, and others. The hospitals segment dominated the market in 2022 and is expected to expand at a considerable CAGR in the coming years, due to the availability of advanced equipment and devices to treat diabetes.
Hospitals have dedicated wards and trained staff for the facilitation of insulin delivery to treat diabetes, which motivated patients to opt for hospitals for the treatment of diabetes.
The homecare segment is anticipated to grow at a rapid pace during the forecast period, owing to the growing need for individualized and patient-friendly diabetes treatment. Moreover, the wide and easy availability of disposable insulin pens and diabetic management devices at retail and online pharmacies encourages patients to take insulin and monitor diabetes at home.
Regional Outlook
Based on region, the global disposable insulin pens market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market in the coming years, due to increasing investment in diabetes diagnosis treatment and the availability of smart insulin pens. Moreover, growing cases of diabetes in the region are further likely to propel the market.
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For instance, on April 4, 2023, Centres for Disease Control and Prevention (CDC) published a report, which stated that about 37.3 million Americans have diabetes.
The market in Asia Pacific is estimated to hold a large market share during the forecast period, owing to the increasing incidence of diabetes. For instance, according to a report published by the National Library of Medicine on October 29, 2021, 77 million individuals had type 2 diabetes in India in 2019 and the number is expected to rise to over 134 million by 2045.
Segments
The disposable insulin pens market has been segmented on the basis of
Application
- Type 1 Diabetes
- Type 2 Diabetes
Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
End-user
- Hospitals
- Clinics
- Homecare
- Others
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- BD
- Novo Nordisk A/S
- Sanofi
- OWEN MUMFORD
- WOCKHARDT
- Wanhai Medical Instruments Co., Ltd
- B. Braun SE
- Lilly
- YPSOMED
- Terumo Corporation
- HTL-STREFA
Competitive Landscape
Key players competing in the global disposable insulin pens market are BD; Novo Nordisk A/S; Sanofi; OWEN MUMFORD; WOCKHARDT; Wanhai Medical Instruments Co., Ltd.; B. Braun SE; Lilly; YPSOMED; Terumo Corporation; and HTL-STREFA.
These companies adopted development strategies including collaboration, product launches, mergers, acquisitions, partnerships, and production expansion to expand their consumer base worldwide. For instance,
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On December 1, 2022, Terumo announced that all Dexcom G6CGM system users on insulin therapy to be covered by insurance in Japan.
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On September 9, 2022, Terumo introduced Fineglide, a sterile pen needle for patients requiring insulin injection or other self-medication in India.
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