According to the latest report by Renub Research, titled "Insulin Pen Market & Users by Diabetes Population (Type 1, Type 2), Countries, Types of Insulin Pen (Disposable, Reusable, Smart), Reimbursement Policies, Company Analysis" Diabetic patients use an insulin pen to inject insulin in a somewhat more comfortable and convenient way as compared to the Syringe. The key growth drivers of insulin pen are increasing diabetic population around the world, along with an increase in awareness and growing healthcare expenditure to manage diseases like diabetes. Many of us are using insulin pen as they're easier to hold and use. It doesn't require to possess a bottle to draw insulin, easy adjustment of dose, less wastage of expired insulin, it doesn't require refrigeration to store as compared to other insulin delivery methods. According to Renub Research, the Global Insulin Pen Market will increase year on year; and reach US$ 35 Billion by the end of the year 2025.
Introducing Insulin Pens:
Insulin pens don't eliminate your need to poke yourself with a needle. They make measuring and delivering your insulin easier.
Insulin pens deliver anywhere from .5 to 80 units of insulin at a time. They will provide insulin in increments of the one-half unit, one unit, or two units. The maximum dose and also the incremental amount varies among pens. The number of total insulin units in the cartridges differ as well.
The pens are available two basic forms: disposable and reusable. A disposable insulin pen contains a prefilled cartridge, and the entire pen is thrown away when the cartridge is empty. Reusable pens allow you to exchange the insulin cartridge when it's empty.
The insulin pen you utilize depends on the kind of insulin you need, the number of units you typically need per insulin shot, and also the available pens for that insulin type. The needles on insulin pens come in different lengths and thicknesses, and most fit on all of the available insulin pens. Ask your doctor or healthcare provider to come to a decision which pen is best for you.
There are three types of insulin pens available: Disposable, Reusable and Smart Insulin Pen. A disposable pen is prefilled with insulin; it's used just once after using the complete pen is disposed. A reusable insulin pen has an insulin cartridge which can be replaced, and it's also called a durable insulin pen. The third type of insulin pen is smart with the utilization of advanced technologies like Bluetooth or IoT; it can record the time and date of insulin at which dose was delivered, nowadays these stylish insulin pens are called as "Connected Insulin Pen".
The Impact of COVID-19 on Insulin Pen Market
Healthcare industry is facing significant challenges thanks to the outbreak of Coronavirus. Most of the countries were in total lockdown in the half of the year 2020. Major healthcare companies are specializing in the vaccine of this deadly virus, and investment for the treatment of other diseases has been stopped. The market for the year 2020 is forecasted to decline as people are avoiding visiting any healthcare centre and buying medical supplies apart from medicine and medical devices associated with COVID-19. According to our analysis, the market will grow from the year 2021 to its natural place as it was in previous years.
Barriers of Insulin Therapy:
Most significant barriers to insulin therapy are using a conventional insulin delivery system, which remains time-consuming, inconvenient, cumbersome, and painful. Insulin dosing via Syringe is linked with a substantial risk of dosage errors. The trendy pen devices have numerous advantages over conventional insulin delivery technique. The user-friendliness and comfort of injection make the initiation of insulin easier. The efficiency of the utilization of Insulin Pens and also the flexibility of including insulin injections into a busy lifestyle improves diabetes control effortlessly while maintaining the standard of life for diabetic patients. Reusable and prefilled pens are available in the market.
Request a free Brochure copy of the report: https://www.renub.com/request-brochure-page.php?gturl=insulin-pen-market-p.php
Insulin Pen advantages over Syringe
According to various content analysis, research, and surveys, the insulin pen has an advantage over conventional Syringe or vials. In Syringe, patients need to fill insulin themselves and need to pay a lot of attention while giving adequate units before injection. This might be a problem for aged patient who generally has weak eyesight, and they may face difficulties while filling the precise quantity of insulin.
The insulin pen eradicates these entire problems as it's safe and easy to use and convenient for the ageing population as they need the tendency to forget. Thanks to these advantages, people with diabetes are shifting from Syringe to pen globally. Moreover, rising per capita revenue of diabetic people across the globe is also increasing the acceptability of insulin pen over vials.
Growth Factors & Challenges of the Insulin Pen Market
The significant factors that are fueling the growth of the insulin pen market are; rising diabetes population (especially type 2 diabetes population), increasing geriatric population, growth in obese population globally, etc. On the contrary, the challenges of the market growth are the supply of alternatives to insulin pens in the market and also the high cost of insulin pens.
Market Summary:
By Diabetes Population: This research report has covered the population of Type 1 Diabetes and Type 2 Diabetes for (United States, Germany, Sweden, United Kingdom, Australia, India, China, Brazil, Saudi Arabia, Netherlands, and Switzerland)
By Types: The market of Disposable, Reusable, Smart is analyzed in this research report. According to Renub Research analysis, Disposable insulin pen has the most significant market share.
By Company: This research report provides Overview, Recent Developments and Sales Analysis of B.Braun Melsungen AG, Eli Lilly and Company, Artsana S.p.A., BD (Becton Dickinson), Novo Nordisk A/S, Mumford Ltd.
About the Company:
Renub Research is a Market Research and Consulting Company. We have more than 10 years of experience especially in international Business-to-Business Researches, Surveys and Consulting. We provide a wide range of business research solutions that helps companies in making better business decisions. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. Our wide clientele comprises of major players in Life Sciences, Information Technology, Telecom, Financial Services (Banking, Insurance), Energy, Retail, Manufacturing, Automotive, and Social sector. Our clients rely on our market analysis and data to make informed knowledgeable decisions. We are regarded as one of the best providers of knowledge. Our pertinent analysis helps consultants, bankers and executives to make informed and correct decisions.
Contact Us:
Renub Research
Phone No: +1 678-302-0700 (USA) | +91-120-421-9822 (IND)
Email: info@renub.com
Web: https://www.renub.com
Follow on Linkedin: https://www.linkedin.com/company/renub-research
Comments