Global Insulin Pen Market Report 2024-2032 with Focus on China Featuring B. Braun Melsungen, Eli Lilly and Co, Becton, Dickinson, Novo Nordisk, Ypsomed, Terumo, Sanofi, Julphar - ResearchAndMarkets.com

The "Global Insulin Pen Market Report by Product, Disease types, Distribution Channels Regions and Company Analysis 2024-2032" report has been added to ResearchAndMarkets.com's offering.

The global insulin pen market will be US$ 10.71 billion by 2032 from US$ 6.27 billion in 2023, with a CAGR of 6.13% from 2024 to 2032.

Insulin pens are the ultimate solution for diabetes management, as they deliver insulin externally to diabetic patients. With the advent of smart insulin pens, administering doses periodically has become more accessible, thanks to the system's timely reminders and alerts. The evolution of technology drives the growth of the Insulin Pens market. Insulin pens have become highly advanced, user-friendly tools integrating digital features and intelligent functionalities.

Technological evolution has significantly improved precision and convenience in insulin administration, leading to a growing demand in the insulin pen market. Currently, there are 537 million adults living with diabetes, and this number is expected to increase to 643 million by 2030 and 783 million by 2045.

Country Reimbursement Policy in the Insulin Pen Industry

• UnitedHealth's pharmacy was adding eight insulin products to its reimbursement list that would limit out-of-pocket spending to $35 or less. The companies, which control 90% of the U.S. insulin market, pledged to lower the list prices of many of their insulin products by 70%-78% later in 2024.
• April 2023, Sanofi has partnered with 35 pharmacies in Berlin to recycle their insulin pens, known as SoloStars pens.
• In June 2023, France became the first country in Europe to expand national reimbursement coverage for Abbott's FreeStyle Libre 2 system to include all people who use basal insulin for diabetes management.
• Dec 2023, Innovent Biologics, Inc. manufactures and commercializes high-quality medicines for the treatment of oncology, metabolic, autoimmune, ophthalmology, and other significant diseases, announced that the National Reimbursement Drug List (2023 Version) has" "been updated to renew and include the seventh indication of PD-1 inhibitor TYVYT (sintilimab injection) in negotiation list, and include the eighth indication of BYVASDA (bevacizumab injection) in general list.

Country Diabetes Rate by 2030

• According to NCBI, the number of people in the United States with type 1 and type 2 diabetes is expected to increase by 54.9 million between 2015 and 2030, which would be a 54% increase.
• The International Diabetes Federation (IDF) predicts that the prevalence of diabetes in Canada will more than double by 2030 and that 552 million people could have diabetes by that time. This would mean that at least one in 10 adults could have diabetes by 2030.
• According to Diabetes UK, more than one million people in the UK use insulin. 2022-2023, England prescribed 8.1 million insulin items, up from 7.8 million in 2021-2022. According to a 2021 article in the BMJ, up to 1 in 10 United Kingdom adults could have diabetes by 2030.
• The German Diabetes Centre estimates that up to 12 million people might suffer from metabolic disorders in 2040.
• According to NCBI, one in ten adults in Spain is expected to have diabetes by 2030, with around 14% of the adult population having diabetes mellitus.
• The prevalence of diabetes in Turkey will be 18.3% by 2030, as per BMJ Journals.
• As per PubMed, Diabetes prevalence in Chinese adults aged 20-79 years was projected to increase from 8.2% to 9.7% during 2020-2030.
• According to the National NCD Monitoring Survey (NNMS), the prevalence of diabetes in India was 9.3% in 2018. The IDF estimates that diabetes prevalence will increase to 10.4% by 2030.
• The prevalence of type 2 diabetes (T2D) in Japan is estimated to increase to 9.8% by 2030, up from 6.6% in 1990 and 7.9% in 2010, As per NCBI.
• The United Arab Emirates (UAE) has one of the highest rates of type 2 diabetes (T2D) in the world, at 18.7% in 2010. The International Diabetes Federation (IDF) predicts that by 2030, 1.17 million of the total population (between ages 20 and 79) could have diabetes, reaching 21.4%.

China Insulin Pen Market

Insulin pens are the most widely used devices for administering insulin among Chinese diabetic patients. The prevalence of diabetes in China and the Southeast Asia and Western Pacific regions is increasing at an alarming rate. Diabetes is associated with many health complications, and patients require daily corrections to maintain nominal blood glucose levels.

In May 2023, Oramed Pharmaceuticals Inc. announced that Hefei Tianhui Biotechnology Co. Ltd. (HTIT), a strategic partner of Oramed, has completed its Phase 3 trials of oral insulin in type 2 diabetes in China under a differentiated study protocol. HTIT is moving toward regulatory approval and has submitted the data to the National Medical Products Administration (NMPA, formerly the CFDA).

Key Attributes:

Global Insulin Pen Company News

• In March 2024 - Ypsomed declared its agreement to sell its pen needle and blood glucose monitoring (BGM) enterprises to Medical Technology and Devices (MTD). With this transfer, Ypsomed aims to concentrate its diabetes care business on insulin pumps.
• In November 2023 - Tandem Diabetes Care introduced its latest innovation, the slim X2 smart insulin pen. This device integrates with a CGM to provide automated insulin delivery in response to blood sugar levels.
• In September 2023 - Abbott and Bigfoot Biomedical announced a definitive agreement for Abbott to acquire Bigfoot, a prominent developer of smart insulin management systems for individuals with diabetes.
• In August 2023 - Novo Nordisk A/S and Dexcom revealed a partnership to develop a next-generation smart insulin pen integrated with CGM technology for automated insulin delivery.

Company Analysis: Overview, Recent Developments, Revenue Analysis

• B. Braun Melsungen AG
• Eli Lilly and Company
• Becton, Dickinson (BD)
• Novo Nordisk A/S
• Ypsomed AG
• Terumo Corporation
• Sanofi
• Julphar

Products - Market breakup in 2 viewpoints

• Disposable Insulin Pen
• Reusable Insulin Pen

Diabetes Types - Market breakup in 2 viewpoints

• Type 1 Diabetes
• Type 2 Diabetes

Distribution Channels - Market breakup in 3 viewpoints

• Hospital Pharmacies
• Retail Pharmacies
• E-commerce

Countries - Market breakup of 25 Countries

• North America
• United States
• Canada
• Europe
• France
• Germany
• Italy
• Spain
• United Kingdom
• Belgium
• Netherlands
• Turkey
• Asia Pacific
• China
• Japan
• India
• South Korea
• Thailand
• Malaysia
• Indonesia
• Australia
• New Zealand
• Latin America
• Brazil
• Mexico
• Argentina
• Middle East & Africa
• Saudi Arabia
• United Arab Emirates
• South Africa

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