Asia-Pacific Insulin Pens Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

Asia-Pacific Insulin Pens Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The Asia-Pacific Insulin Pens Market size is expected to grow from USD 17.07 billion in 2023 to USD 19.50 billion by 2028, at a CAGR of 2.70% during the forecast period (2023-2028).

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.

Asia-Pacific Insulin Pens Market Trends

Rising diabetes prevalence

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

The Asia-Pacific region has 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. According to the International Diabetes Federation, 90 million adults were living with diabetes in the IDF South-East Asia Region in 2021. This figure is estimated to increase to 152 million by 2045, and the 206 million adults living with diabetes in the IDF Western Pacific Region in 2021 are estimated to increase to 260 million by 2045. Diabetes is associated with many health complications. Patients with diabetes require many corrections throughout the day for maintaining normal blood glucose levels, such as oral anti-diabetic medication, insulin administration, or the ingestion of additional carbohydrates by monitoring their blood glucose levels.

Insulin pens are much smaller and more portable than syringes and have the medicine preloaded into the delivery mechanism. After use, the needles are easy to dispose of by twisting or snapping. 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. Some pens are smart insulin pens that easily connect to an app on your phone to monitor blood sugar levels and remind you when to take the next insulin dose.

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

Japan occupies the highest market share in the Asia-Pacific Insulin Pens Market in the current year

Japan occupies the highest market share of about 43.1% in the Asia-Pacific Insulin Pens Market in the current year.

Diabetes reduces lifespan, and people with the disease are likely to experience blindness and be hospitalized for amputations, kidney failure, heart attacks, strokes, and heart failure. Japan is a mature market with some associated challenges, like slow economic growth, an aging population, and increased competition. Diabetes has been identified as a healthcare priority by the Ministry of Health, Labour, and Welfare. The high prevalence of diabetes is associated with a significant economic burden. The costs of diabetes are increased in patients with comorbidities 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. Additionally, self-injection of insulin is now acceptable and 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 the Asia-Pacific in terms of diabetic public health policies. Such advantages have helped the adoption of these products in the Japanese market rise.

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

Asia-Pacific Insulin Pens Industry Overview

The Asia-Pacific insulin pens Market is moderately fragmented with major manufacturers like Novo Nordisk, Sanofi, Eli Lilly, Biocon, Wockhardt, etc. having a global market presence and the remaining confined to the other local or region-specific manufacturers.

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