Major participants in the insulin pen Market in 2020
An insulin pen is an infusion device for infusing insulin into diabetic patients. Patients with type I diabetes prefer to use insulin pens for treatment. Insulin pen can inject insulin into the body more easily. Compared with small bottles and syringes, it provides more accurate doses and less pain, and is also the first choice for clinicians and patients. Insulin pens help improve quality of life and reduce fear of hyperglycemia. The low cost of insulin pens increases their affordability in different age groups. Most insulin pens include two types, reusable and disposable. Pre-filled insulin pen is a disposable pen, which is preferred for insulin infusion. Insulin pencils are shorter and thinner than syringes.
The market for insulin pens in Europe and Japan is growing at a moderate rate rate rate rate rate rate rate rate rate rate rate because these markets are mature. Growth in these areas has also been driven by an ageing population and an increase in the number of people with diabetes. The United States, India, China and Brazil are emerging countries with growth in the insulin pen equipment market because of their low market penetration. These markets have tremendous potential because they involve a large population aging, further leading to diabetes. As a result, manufacturers are now focusing on the Asian market to meet the demand for insulin pen equipment.
The rising prevalence of diabetes in different age groups is an important factor to promote the growth of the global insulin pen market. In addition, increased R&D activities have also promoted the development of the insulin pen market. However, safety issues related to the use of infusion pens and strict rules for new product development limit the growth of the insulin pen market.