ASIA-PACIFIC INSULIN DELIVERY DEVICES MARKET - GROWTH, TRENDS, COVID-19 IMPACT, AND FORECASTS (2022 - 2027)

ASIA-PACIFIC INSULIN DELIVERY DEVICES MARKET - GROWTH, TRENDS, COVID-19 IMPACT, AND FORECASTS (2022 - 2027)

The asia-Pacific insulin delivery devices market is expected to register a CAGR of more than 3% during the forecast period (2022 -2027). The Asia-Pacific region has witnessed an astounding increase in the prevalence of diabetes in patients, in recent years. The increasing demand for insulin has led to great R&D in manufacturing different, painless types of insulin deliverable devices, like CGM-integrated insulin pumps. Traditionally, insulin syringes were the only form of insulin delivery system, which were considered to be painful and not user-friendly. Furthermore, the dosage may not be accurate. Thus, companies, like Novo Nordisk and Sanofi, among others, have bought their insulin pens in the market. These pens have a specific set of dosages and are considered to be not only less painful to use, but also reduce wastage of insulin. The high cost of insulin pens is the only prominent restraining factor for the growth of the pens market.

Key Market TrendsJapan Holds the Major Market Share in the Asia-Pacific Insulin Delivery Devices Market in the year 2021

Japan accounted for 41% of the market share in the Asia-Pacific insulin delivery devices market. In developing countries, such as Japan, China, and India, the rate of diabetes among the population has been growing, mainly due to the unhealthy lifestyle of the population. In Japan, the increasing geriatric population is driving the insulin delivery devices market. The changing lifestyle trends, coupled with high disposable income among the population, are some of the prominent driving factors for the sales of insulin delivery devices. Insulin was initially considered to be the treatment method only for type-1 patients. However, over the years, insulin has also been used by a considerable number of type-2 patients as a line of treatment.

Insulin Delivery through Disposable pens is having highest market share in the Asia-Pacific Region.

The Asia-Pacific market for Insulin Disposable pens is valued at more than USD 7 billion in 2021 with 39% of the market share. This contains a prefilled insulin cartridge. Once used, the entire pen unit is thrown away. Insulin in pens and cartridges is generally more expensive than bottled insulin and syringes. Insulin cartridges in reusable pens are known to be a needed extension to insulin pens. When pens are used a small quantity of insulin is wasted, making the process less economical. A large set of diabetic type-1 patients is children. There is a need for an alternative to the existing needle-based delivery system, which is painful, and thus, the invention of an insulin jet injector, a painless insulin delivery system, was introduced. Most types of insulins are manufactured in the form of cartridges, thus, making it easily accessible. ​ These devices have all the functional benefits of reusable pens and are cost-effective, as these cartridges are less expensive when compared to disposable insulin pens in the long run. ​

Competitive Landscape

The market is consolidated, with few players holding a significant market share in 2021. However, the insulin syringe market is highly fragmented, and many market players are based locally. Companies to expand their market presence are investing in R&D as well as collaborating with other major players to develop innovative solutions. Abbott and Novo Nordisk enter a partnership, in order to provide an integrated digital solution to people with diabetes, using insulin. The collaboration may enable insulin data to be shared between Novo Nordisk's connected insulin pens and digital health tools compatible with the FreeStyle Libre portfolio of products.

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