Insulin Pens Market Size, Share & Trends Analysis Report By Type (Reusable Insulin Pens, Disposable Insulin Pens), By End-use (Hospitals & Clinics, Homecare, Others), By Region, And Segment Forecasts, 2024 - 2030
Insulin Pens Market Growth & Trends
The global insulin pens market size is anticipated to reach USD 12.41 billion by 2030, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 8.08% during the forecast period, 2024 to 2030. Key drivers propelling market growth include rising prevalence of diabetes worldwide. According to the International Diabetes Federation, approximately 537 million adults were living with diabetes in 2021, a number expected to rise to 643 million by 2030. This escalating figure has significantly fueled the demand for effective and convenient insulin delivery methods, such as insulin pens.
The international agreement aims to stop the rise of diabetes and obesity by 2025. Currently, the majority of the global diabetic population of approximately 422 million resides in lower-income countries, contributing to 1.5 million deaths annually due to type 2 diabetes. Over recent decades, there has been a steady increase in diabetes rates. The latest data from the IDF Diabetes Atlas indicates a global diabetes prevalence rate of 10.5%, with nearly 44.7% of cases remaining undiagnosed. Future forecasts from the IDF suggest that by 2045, the number of adults with diabetes could reach 783 million, or roughly 12.5% of the global population, marking a 46% increase. This uptrend significantly outpaces the anticipated global population growth of 20% for the same timeframe.
Advancements in insulin pen technology, the growing geriatric population, and increasing investments in healthcare infrastructure across various regions have been crucial in market expansion. Furthermore, the shift towards modern insulin delivery devices over traditional syringes and vials has played a pivotal role in market expansion. However, the market faces challenges such as high costs associated with insulin pen therapy and limited reimbursement policies in developing countries. Despite these barriers, ongoing research and development efforts to introduce innovative, cost-effective insulin pens are anticipated to overcome these hurdles.
Global Insulin Pens Market Report Highlights
- By type, the insulin pens market is categorized into disposable and reusable insulin pens, with disposable pens holding the largest market share due to their convenience and hygiene benefits
- By end use, the insulin pens market is segmented into hospitals & clinics, homecare, and others. Among these, homecare segment captured the largest market share of 48.21% in 2023
- Furthermore, North America insulin pens market dominated the market by capturing the highest revenue share of 40.73% in 2023 owing to its well-established healthcare infrastructure, high diabetes prevalence, and strong presence of leading market players
- The Asia Pacific region is expected to witness the fastest growth rate (CAGR) of 8.8% during the forecast period, driven by increasing healthcare expenditure, rising diabetes awareness, and improving healthcare facilities in emerging economies such as China and India
- Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Segment Definitions
- 1.2.1. Type
- 1.2.2. End Use
- 1.2.3. Regional scope
- 1.2.4. Estimates and forecasts timeline
- 1.3. Research Methodology
- 1.4. Information Procurement
- 1.4.1. Purchased database
- 1.4.2. GVR’s internal database
- 1.4.3. Secondary sources
- 1.4.4. Primary research
- 1.4.5. Details of primary research
- 1.4.5.1. Data for primary interviews in North America
- 1.4.5.2. Data for primary interviews in Europe
- 1.4.5.3. Data for primary interviews in Asia Pacific
- 1.4.5.4. Data for primary interviews in Latin America
- 1.4.5.5. Data for Primary interviews in MEA
- 1.5. Information or Data Analysis
- 1.5.1. Data analysis models
- 1.6. Market Formulation & Validation
- 1.7. Model Details
- 1.7.1. Commodity flow analysis (Model 1)
- 1.7.2. Approach 1: Commodity flow approach
- 1.7.3. Volume price analysis (Model 2)
- 1.7.4. Approach 2: Volume price analysis
- 1.8. List of Secondary Sources
- 1.9. List of Primary Sources
- 1.10. Objectives
- Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.2.1. Type outlook
- 2.2.2. End use outlook
- 2.2.3. Regional outlook
- 2.3. Competitive Insights
- Chapter 3. Insulin Pens Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Parent market outlook
- 3.1.2. Related/ancillary market outlook
- 3.2. Market Dynamics
- 3.2.1. Market driver analysis
- 3.2.1.1. Rise in the prevalence of diabetes globally
- 3.2.1.2. Advancements in technology and development of smart insulin pens
- 3.2.1.3. Growing awareness and education about diabetes management
- 3.2.1.4. Increasing government initiatives and support to provide accessible and affordable diabetes treatment
- 3.2.2. Market restraint analysis
- 3.2.2.1. High cost of smart insulin pens
- 3.2.2.2. Lack of awareness and education about advanced diabetes management tools
- 3.2.2.3. Stringent regulatory approvals
- 3.3. Insulin Pens Market Analysis Tools
- 3.3.1. Industry Analysis - Porter’s
- 3.3.1.1. Supplier power
- 3.3.1.2. Buyer power
- 3.3.1.3. Substitution threat
- 3.3.1.4. Threat of new entrant
- 3.3.1.5. Competitive rivalry
- 3.3.2. PESTEL Analysis
- 3.3.2.1. Political landscape
- 3.3.2.2. Technological landscape
- 3.3.2.3. Economic landscape
- Chapter 4. Insulin Pens Market: Type Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Global Insulin Pens Type Market Movement Analysis
- 4.3. Global Insulin Pens Market Size & Trend Analysis, by Type, 2018 to 2030 (USD Million)
- 4.4. Reusable Insulin Pens
- 4.4.1. Reusable insulin pens market estimates and forecasts 2018 to 2030 (USD Million)
- 4.5. Disposable Insulin Pens
- 4.5.1. Disposable insulin pens market estimates and forecasts 2018 to 2030 (USD Million)
- Chapter 5. Insulin Pens Market: End Use Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Global Insulin Pens End Use Market Movement Analysis
- 5.3. Global Insulin Pens Market Size & Trend Analysis, by End Use, 2018 to 2030 (USD Million)
- 5.4. Hospitals & Clinics
- 5.4.1. Hospitals & clinics market estimates and forecasts 2018 to 2030 (USD Million)
- 5.5. Homecare
- 5.5.1. Homecare market estimates and forecasts 2018 to 2030 (USD Million)
- 5.6. Others
- 5.6.1. Others market estimates and forecasts 2018 to 2030 (USD Million)
- Chapter 6. Insulin Pens Market: Regional Estimates & Trend Analysis By Product , Application, Modality, End Use
- 6.1. Regional Market Share Analysis, 2023 & 2030
- 6.2. Regional Market Dashboard
- 6.3. Global Regional Market Snapshot
- 6.4. Market Size, & Forecasts Trend Analysis, 2018 to 2030:
- 6.5. North America
- 6.5.1. U.S.
- 6.5.1.1. Key country dynamics
- 6.5.1.2. Competitive scenario
- 6.5.1.3. Regulatory framework
- 6.5.1.4. Reimbursement structure
- 6.5.1.5. U.S. market estimates and forecasts 2018 to 2030 (USD Million)
- 6.5.2. Canada
- 6.5.2.1. Key country dynamics
- 6.5.2.2. Competitive scenario
- 6.5.2.3. Regulatory framework
- 6.5.2.4. Reimbursement structure
- 6.5.2.5. Canada market estimates and forecasts 2018 to 2030 (USD Million)
- 6.5.3. Mexico
- 6.5.3.1. Key country dynamics
- 6.5.3.2. Competitive scenario
- 6.5.3.3. Regulatory framework
- 6.5.3.4. Reimbursement structure
- 6.5.3.5. Canada market estimates and forecasts 2018 to 2030 (USD Million)
- 6.6. Europe
- 6.6.1. UK
- 6.6.1.1. Key country dynamics
- 6.6.1.2. Competitive scenario
- 6.6.1.3. Regulatory framework
- 6.6.1.4. Reimbursement structure
- 6.6.1.5. UK market estimates and forecasts 2018 to 2030 (USD Million)
- 6.6.2. Germany
- 6.6.2.1. Key country dynamics
- 6.6.2.2. Competitive scenario
- 6.6.2.3. Regulatory framework
- 6.6.2.4. Reimbursement structure
- 6.6.2.5. Germany market estimates and forecasts 2018 to 2030 (USD Million)
- 6.6.3. France
- 6.6.3.1. Key country dynamics
- 6.6.3.2. Competitive scenario
- 6.6.3.3. Regulatory framework
- 6.6.3.4. Reimbursement structure
- 6.6.3.5. France market estimates and forecasts 2018 to 2030 (USD Million)
- 6.6.4. Italy
- 6.6.4.1. Key country dynamics
- 6.6.4.2. Competitive scenario
- 6.6.4.3. Regulatory framework
- 6.6.4.4. Reimbursement structure
- 6.6.4.5. Italy market estimates and forecasts 2018 to 2030 (USD Million)
- 6.6.5. Spain
- 6.6.5.1. Key country dynamics
- 6.6.5.2. Competitive scenario
- 6.6.5.3. Regulatory framework
- 6.6.5.4. Reimbursement structure
- 6.6.5.5. Spain market estimates and forecasts 2018 to 2030 (USD Million)
- 6.6.6. Norway
- 6.6.6.1. Key country dynamics
- 6.6.6.2. Competitive scenario
- 6.6.6.3. Regulatory framework
- 6.6.6.4. Reimbursement structure
- 6.6.6.5. Norway market estimates and forecasts 2018 to 2030 (USD Million)
- 6.6.7. Sweden
- 6.6.7.1. Key country dynamics
- 6.6.7.2. Competitive scenario
- 6.6.7.3. Regulatory framework
- 6.6.7.4. Reimbursement structure
- 6.6.7.5. Sweden market estimates and forecasts 2018 to 2030 (USD Million)
- 6.6.8. Denmark
- 6.6.8.1. Key country dynamics
- 6.6.8.2. Competitive scenario
- 6.6.8.3. Regulatory framework
- 6.6.8.4. Reimbursement structure
- 6.6.8.5. Denmark market estimates and forecasts 2018 to 2030 (USD Million)
- 6.7. Asia Pacific
- 6.7.1. Japan
- 6.7.1.1. Key country dynamics
- 6.7.1.2. Competitive scenario
- 6.7.1.3. Regulatory framework
- 6.7.1.4. Reimbursement structure
- 6.7.1.5. Japan market estimates and forecasts 2018 to 2030 (USD Million)
- 6.7.2. China
- 6.7.2.1. Key country dynamics
- 6.7.2.2. Competitive scenario
- 6.7.2.3. Regulatory framework
- 6.7.2.4. Reimbursement structure
- 6.7.2.5. China market estimates and forecasts 2018 to 2030 (USD Million)
- 6.7.3. India
- 6.7.3.1. Key country dynamics
- 6.7.3.2. Competitive scenario
- 6.7.3.3. Regulatory framework
- 6.7.3.4. Reimbursement structure
- 6.7.3.5. India market estimates and forecasts 2018 to 2030 (USD Million)
- 6.7.4. Australia
- 6.7.4.1. Key country dynamics
- 6.7.4.2. Competitive scenario
- 6.7.4.3. Regulatory framework
- 6.7.4.4. Reimbursement structure
- 6.7.4.5. Australia market estimates and forecasts 2018 to 2030 (USD Million)
- 6.7.5. South Korea
- 6.7.5.1. Key country dynamics
- 6.7.5.2. Competitive scenario
- 6.7.5.3. Regulatory framework
- 6.7.5.4. Reimbursement structure
- 6.7.5.5. South Korea market estimates and forecasts 2018 to 2030 (USD Million)
- 6.7.6. Thailand
- 6.7.6.1. Key country dynamics
- 6.7.6.2. Competitive scenario
- 6.7.6.3. Regulatory framework
- 6.7.6.4. Reimbursement structure
- 6.7.6.5. Thailand market estimates and forecasts 2018 to 2030 (USD Million)
- 6.8. Latin America
- 6.8.1. Brazil
- 6.8.1.1. Key country dynamics
- 6.8.1.2. Competitive scenario
- 6.8.1.3. Regulatory framework
- 6.8.1.4. Reimbursement structure
- 6.8.1.5. Brazil market estimates and forecasts 2018 to 2030 (USD Million)
- 6.8.2. Argentina
- 6.8.2.1. Key country dynamics
- 6.8.2.2. Competitive scenario
- 6.8.2.3. Regulatory framework
- 6.8.2.4. Reimbursement structure
- 6.8.2.5. Argentina market estimates and forecasts 2018 to 2030 (USD Million)
- 6.9. MEA
- 6.9.1. South Africa
- 6.9.1.1. Key country dynamics
- 6.9.1.2. Competitive scenario
- 6.9.1.3. Regulatory framework
- 6.9.1.4. Reimbursement structure
- 6.9.1.5. South Africa market estimates and forecasts 2018 to 2030 (USD Million)
- 6.9.2. Saudi Arabia
- 6.9.2.1. Key country dynamics
- 6.9.2.2. Competitive scenario
- 6.9.2.3. Regulatory framework
- 6.9.2.4. Reimbursement structure
- 6.9.2.5. Saudi Arabia market estimates and forecasts 2018 to 2030 (USD Million)
- 6.9.3. UAE
- 6.9.3.1. Key country dynamics
- 6.9.3.2. Competitive scenario
- 6.9.3.3. Regulatory framework
- 6.9.3.4. Reimbursement structure
- 6.9.3.5. UAE market estimates and forecasts 2018 to 2030 (USD Million)
- 6.9.4. Kuwait
- 6.9.4.1. Key country dynamics
- 6.9.4.2. Competitive scenario
- 6.9.4.3. Regulatory framework
- 6.9.4.4. Reimbursement structure
- 6.9.4.5. Kuwait market estimates and forecasts 2018 to 2030 (USD Million)
- Chapter 7. Competitive Landscape
- 7.1. Recent Developments & Impact Analysis, By Key Market Participants
- 7.2. Company/Competition Categorization
- 7.3. Key company market share analysis, 2023
- 7.4. Company Position Analysis
- 7.5. Company Categorization (Emerging Players, Innovators and Leaders
- 7.6. Company Profiles
- 7.6.1. Medtronic Plc
- 7.6.1.1. Company overview
- 7.6.1.2. Financial performance
- 7.6.1.3. Product benchmarking
- 7.6.1.4. Strategic initiatives
- 7.6.2. Novo Nordisk A/S
- 7.6.2.1. Company overview
- 7.6.2.2. Financial performance
- 7.6.2.3. Product benchmarking
- 7.6.2.4. Strategic initiatives
- 7.6.3. Sanofi
- 7.6.3.1. Company overview
- 7.6.3.2. Financial performance
- 7.6.3.3. Product benchmarking
- 7.6.3.4. Strategic initiatives
- 7.6.4. Eli Lilly and Company
- 7.6.4.1. Company overview
- 7.6.4.2. Financial performance
- 7.6.4.3. Product benchmarking
- 7.6.4.4. Strategic initiatives
- 7.6.5. Ypsomed AG
- 7.6.5.1. Company overview
- 7.6.5.2. Financial performance
- 7.6.5.3. Product benchmarking
- 7.6.5.4. Strategic initiatives
- 7.6.6. Insulet Corporation
- 7.6.6.1. Company overview
- 7.6.6.2. Financial performance
- 7.6.6.3. Product benchmarking
- 7.6.6.4. Strategic initiatives
- 7.6.7. B. Braun SE
- 7.6.7.1. Company overview
- 7.6.7.2. Financial performance
- 7.6.7.3. Product benchmarking
- 7.6.7.4. Strategic initiatives
- 7.6.8. Owen Mumford Ltd.
- 7.6.8.1. Company overview
- 7.6.8.2. Financial performance
- 7.6.8.3. Product benchmarking
- 7.6.8.4. Strategic initiatives
- 7.6.9. Tandem Diabetes Care, Inc.
- 7.6.9.1. Company overview
- 7.6.9.2. Financial performance
- 7.6.9.3. Product benchmarking
- 7.6.9.4. Strategic initiatives
Research Assistance
Download our eBook: How to Succeed Using Market Research
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook