Dublin, Feb. 14, 2023 (GLOBE NEWSWIRE) -- The "Insulin Pens, Syringes, Pumps And Injectors Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
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 insulin pens, syringes, pumps and injectors market is expected to grow to $29.75 billion in 2027 at a CAGR of 6.9%.
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.
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.
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.
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Scope
Markets Covered:
1) By Type: Pens; Injectors And Pumps; Syringes
2) By End Users: Hospitals; Homecare; Other End Users
3) By Pens: Reusable; Disposable
4) By Pumps: Tubed Pumps; Tubeless Pumps
| Report Attribute | Details |
| No. of Pages | 250 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $22.81 billion |
| Forecasted Market Value (USD) by 2027 | $29.75 billion |
| Compound Annual Growth Rate | 6.9% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes
- Novo Nordisk A/S
- Eli Lilly and Company
- Medtronic plc
- Abbott
- Insulet Corporation
- Sanofi
- Roche
- F. Hoffmann-La Roche Ltd.
- Becton
- Animas Corporation
- Ypsomed Holding AG
- Dickinson and Company
- Valeritas Inc.
- MannKind Corporation
- Tandem Diabetes Care Inc.
- Biocon Ltd.
- B. Braun Melsungen AG
- BD
For more information about this report visit https://www.researchandmarkets.com/r/rzbuu7-pens?w=12
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