The Global Insulin Pens Market to gain from rising prevalence of diabetes around the world. Fortune Business Insights recently announced a report, titled “Insulin Pens Market Size, Share and Global Trend By Product Type (Disposable, Reusable), By Application (Type 1 Diabetes, Type 2 Diabetes), By Distribution Channel (Online Pharmacies, Hospital Pharmacies, Retail Pharmacies, Diabetes Clinics), Geography Forecast till 2026.”
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The market is expected to witness high demand in North America owing to the increasing prevalence of diabetes in nations such as the U.S. and Canada. Additionally, rapid technological advancements in insulin pens in the region is likely to propel growth in the market.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• B. Braun Medical
• Eli Lilly and Company
• Novo Nordisk
• Owen Mumford Ltd
• Ypsomed AG
• Terumo Medical Corporation
• HTL-Strefa, Inc.
In addition to this, growth in Europe is expected to be commendable backed by the shifting consumer preference in favor of self-administering medicines rather than depending on hospitals and clinics. This is further expected to increase the growth rate of the global market. Besides this, Asia Pacific is expected to expand at a relatively higher CAGR owing to a large patient pool present in the region. Furthermore, innovative market penetration strategies used by key players in the region is anticipated to facilitate adoption of insulin pens.
“Key player are expected to raise awareness and promote self-use of insulin pens. This in turn is likely to facilitate the adoption of insulin pens among patients and enable growth in the global insulin pens market.” Said a lead analyst at Fortune Business Insights.
Increasing Healthcare Expenditure to Drive Market
Increasing per capita income and increasing healthcare expenditure are some factors anticipated to drive the global market during the forecast period. Additionally, technological upgrades in the insulin pens is likely to propel adoption of pens.
For instance, Novo Nordisk A/S announced the launch of a bluetooth connected smart insulin pen in 2018. The smart pen is enabled to record the dose of insulin and timely logs. The amount of pain is comparatively less to normal insulin pens.
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On the contrary, high price of insulin pens and looming risk of administering wrong dose of insulin are some factors that may restrain the global insulin pens market.
· North America (USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
By Distribution Channel:
· Online Pharmacies
· Hospital Pharmacies
· Retail Pharmacies
· Diabetes Clinics