Asia-Pacific Insulin Pens Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Asia-Pacific Insulin Pens Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Asia-Pacific Insulin Pens Market is set to witness a CAGR of more than 2.5% during the forecast period 2022-2027. The market is estimated to reach a value of more than USD 19 billion by 2027.

The COVID-19 pandemic positively impacted the Asia-Pacific Insulin Pens Market. Patients with diabetes, infected with COVID-19 may experience elevated blood glucose, abnormal glucose variability, and diabetic complications. The prevalence of diabetes in people with COVID-19 caused a significant increase in severity and mortality of COVID-19 in people with either type 1 (T1DM) or type 2 diabetes mellitus (T2DM), especially in association with poor glycemic control. While new-onset hyperglycemia and new-onset diabetes (both T1DM and T2DM) have been increasingly recognized in the context of COVID-19 and have been associated with worse outcomes. To avoid aggravation, a patient's blood glucose should be monitored and maintained. The pandemic emergency has created a rise in remote care from both patients and providers and removed many long-standing regulatory barriers.

A disposable insulin pen is a prefilled pen and is supposed to be thrown away after a single use whereas Reusable pens permit the insertion of a pen fill (cartridge) thus allowing repeated usage. The needles on a reusable pen should be replaced periodically. Insulin Pens (disposable and reusable) are the most widely used devices for the administration of insulin among diabetic patients. The ease of use and accuracy in administration make insulin pens usage high among insulin users. Insulin has been used in the treatment of diabetes globally. People with Type 1 diabetes need insulin therapy, and the treatment focuses on managing blood sugar levels with insulin, diet, and lifestyle to prevent complications.

Over the past few decades, Asian countries have witnessed a rapid increase in diabetes patients. Developing countries have more than 70% of the global diabetes population. The Asia-Pacific is anticipated to experience considerable growth due to a more geriatric population and rising prevalence of diabetes mainly due to the enhanced stress level, sedentary lifestyles, smoking, and excessive consumption of alcohol that elevates the body’s sugar levels have led to the growth of the market.

Owing to the aforementioned factors the market is expected to grow during the forecast period.

Key Market TrendsRising diabetes prevalence

The diabetes population in the Asia-Pacific region is expected to rise by more than 1% during the forecast period.

The Asia-Pacific region had witnessed an alarming increase in the prevalence of diabetes, in recent years. In developing countries, such as China and India, the rate of diabetes is at an all-time high, mainly due to lifestyle changes. Diabetes is associated with many health complications. Patients with diabetes require many corrections throughout the day for maintaining nominal blood glucose levels, such as oral anti-diabetic medication, insulin administration or ingestion of additional carbohydrates by monitoring their blood glucose levels.

According to the OECD iLibrary in Asia-Pacific, about 227 million people live with type 2 diabetes and about half of them are undiagnosed and unaware of developing long-term complications. Also, according to the International Diabetes Federation data, 90 million adults in the age group of 20-79 are living with diabetes in the South-East Asia (SEA) Region in 2021 which is projected to increase to 113 million by 2030 and 152 million by 2045.

Insulin pens are much smaller and more portable than syringes and have the medicine preloaded into the delivery mechanism. The needles are easy to use and can be disposed of by twisting or snapping after use. The pens are usually color-coded which makes it easier to know which type of insulin and how much insulin will be received from them. The insulin disposable pens are considered more consumer-friendly, as they are smaller and less noticeable than the classic vial-and-syringe. These devices are also more portable for consumers on the go. Some pens are ‘smart insulin pens’ which easily connect to an app on phone to monitor blood sugar levels and remind when to take the next insulin dose.

Owing to the rising rate of obesity, growing genetic factors for diabetes, the increasing prevalence, and the aforementioned factors it is likely that the market will continue to grow.

China and Japan Occupy more than 75% Share in the Asia-Pacific Insulin Pens Market

In the Asia-Pacific region, China and Japan have been recognized as potential developing markets, due to the growing diabetic population in this region.

Japan is a mature market, with some associated challenges, like slow economic growth, an aging population, and increased competition. China has the highest market share and contributes majorly to the insulin pens market. The country is witnessing a significant increase in the number of manufacturers.

Diabetes reduces lifespan and people with the disease are likely to experience blindness, being hospitalized for amputations, kidney failure, heart attacks, strokes, and heart failure. Diabetes has been identified as a healthcare priority by the Ministry of Health, Labour, and Welfare (MHLW). The high prevalence of diabetes is associated with a significant economic burden. The costs of diabetes are increased in patients with co-morbidities such as hypertension and hyperlipidemia and in patients who develop complications. Costs increase with an increasing number of complications.

Well-organized medical insurance systems cover all medical fees for diabetes mellitus, and diabetics can visit doctors freely in Japan. Also, insulin therapy by self-injection became legal and is covered by health insurance. The Japanese healthcare system has a few disease management programs conducted by the Japan Association for Diabetes Education and Care. Japan is one of the regional leaders in Asia-Pacific, in terms of diabetic public health policies. Such advantages have helped the rise in the adoption of these products in the Japanese market.

Owing to the aforementioned factors the market is expected to grow during the forecast period.

Competitive Landscape

The Asia-Pacific Insulin Pens Market is consolidated, with manufacturers like Novo Nordisk, Sanofi, Eli Lilly, Biocon, and Wockhardt having a global market presence and the remaining confined to the other local or region-specific manufacturers.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
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