Major players in the insulin pens, syringes, pumps, and injectors devices and equipment market are Novo Nordisk A/S, Eli Lilly and Company, Medtronic plc, Abbott, Insulet Corporation, Sanofi, Roche F.
New York, Feb. 10, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Insulin Pens, Syringes, Pumps And Injectors Global Market Report 2023” – https://www.reportlinker.com/p06277217/?utm_source=GNW
Hoffmann-La Roche Ltd, Becton, Animas Corporation, and Ypsomed Holding AG.
The global insulin pens, syringes, pumps and injectors market will grow from $21.09 billion in 2022 to $22.81 billion in 2023 at a compound annual growth rate (CAGR) of 8.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The insulin pens, syringes, pumps and injectors market is expected to grow to $29.75 billion in 2027 at a CAGR of 6.9%.
The insulin pens, syringes, pumps, and injectors market consist of sales of reusable pens, disposable pens, tubed pumps, and tubeless pumps that are used for injecting insulin.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Insulin pens, syringes, pumps, and injectors are used to administer insulin to control blood glucose levels in diabetic patients. These devices are reusable or disposable tools used to inject the desired dose of insulin into the blood of a diabetic patient.
North America was the largest region in the insulin pens, syringes, pumps, and injectors devices and equipment market in 2022.Asia Pacific was the second largest market in insulin pens, syringes, pumps, and injectors devices and equipment market.
The regions covered in the insulin pens, syringes, pumps, and injectors devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The main types of insulin pens, syringes, pumps, and injectors devices and equipment are pens, injectors and pumps, syringes.The syringe is a device used to inject fluids into or withdraw them from something.
The pens used are reusable and disposable.The pumps used are tubed pumps and tubeless pumps.
The various end-users are hospitals, home care, and others.
An increase in the prevalence of diabetes globally is driving the growth of the insulin pens, syringes, pumps, and injectors market.The increase in the number of people suffering from obesity, unhealthy eating habits, physical inactivity, and the increasing geriatric population are some of the key factors which are leading to the increase in the global prevalence of diabetes.
According to the US Centers for Disease Control and Prevention (CDC) in 2020, around 34.2 million people in the U.S. were suffering from diabetes. Also, according to the International Diabetes Federation, in 2021, globally approximately537 million adults were living with diabetes; by 2045, this number would rise to 783 million, driving the insulin pens, syringes, pumps, and injectors market.
Resistance towards self-injection by patients is restraining the insulin pens, syringes, pumps, and injectors market.The fear of injections causes anxiety in some patients thus causing them to avoid the use of insulin injections and being inconsistent in their insulin uptake.
According to a report by, National Center for Biotechnology Information (NCBI) anxiety about and the fear of injection-associated pain has been estimated to affect approximately 30%–50% of patients, before the initiation of diabetes education interventions.The report also stated that close to 28% of patients were unwilling to initiate insulin therapy, if prescribed because they were not confident about handling the injections and the anticipated needle pain due to self-injection.
This resistance to self-injection due to the fear of needles is hampering the growth of the market.
Many companies are focusing on technological advancements in insulin delivery systems to deliver insulin effectively and safely.For instance, in September 2022, the FDA approved the use of Omnipod 5 for children over 2 years with type 1 diabetes.
Omnipod is the first tubeless automated insulin delivery aid for people with type 1 diabetes.
The insulin pens, syringes, pumps, and injectors devices and equipment market is regulated by authorities such as the US FDA and European Medicines Agency.For instance, FDA’s Title 21 of the Code of Federal Regulations (CFR) provides guidelines for proper labeling of medical devices such as food, drugs, cosmetics, and other medical devices, the manufacturers of these devices must comply and adhere.
FDA also provides strict label warnings prohibiting the sharing of insulin injectable medicines, to avoid infections in patients which are caused by the sharing of these insulin devices.
In 2020, Medtronic, an Irish medical device company agreed to acquire Companion Medical, a manufacturer of InPen, for an undisclosed amount.The connected insulin pen helps users to manage their diabetes by tracking insulin doses and active insulin.
This acquisition is an ideal strategic fit for Medtronic, to further simplify diabetes management and improve outcomes by optimizing dosing decisions for a large number of people using multiple daily injections (MDI). Companion Medical was founded by people with diabetes that fuels their drive to create insulin technologies that enable users to live their lives with diabetes solutions that make sense.
The countries covered in the insulin pens, syringes, pumps, and injectors devices and equipment market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
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