Insulin pens are devices that diabetes patients can use to inject the desired amount of insulin into the patient’s body. The insulin pen is slightly larger than the pen and contains the insulin in the refill. Insulin pens have made it easier and less painful for diabetics to take insulin. The insulin pen not only injects an exact amount of insulin into the body, but can also be done in fewer steps than the syringe. Driving factors such as the increasing incidence of diabetes, the growing geriatric population and the propensity for insulin pens compared to conventional needles and syringes in insulin pens are expected to boost market growth over the years. However, it is likely that alternatives to insulin delivery pens and the limitation associated with insulin pens hinder market growth. However, the growing market in developing regions is likely to offer significant growth opportunities in the near future to improve the market share of industry players.
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The list of companies – Insulinpens Markt
1. Novo Nordisk A / S.
2. Owen Mumford
4. Ypsomed AG
6. Companion Medical
7. BERLIN CHEMIE AG
8. Eli Lilly and Company
9. Pendiq GmbH
10. Emperra GmbH E-Health Technologies
The key factors driving market growth are the increasing incidence of diabetes, the growing geriatric population and the increasing use of insulin pens over traditional vials and syringes. However, the factors that inhibit market growth are the high cost of insulin pens and the availability of alternatives to insulin pens on the market. On the other hand, the high market growth potential in the emerging markets is one of the growth opportunities for market participants. There has been considerable development in the field of drug delivery devices in recent years. Insulin administration is a common procedure among diabetics. Conventional insulin syringes have several disadvantages, including the occurrence of pain in patients due to repeated stings, Discomfort when carrying both the insulin bottle and the syringe, the risk of reusing the needle and related needlestick injuries, and difficulty in dispensing a mixture of two or more liquids together in one syringe. In addition, self-administration of insulin by syringes and vials is time-consuming and difficult, which has reduced the introduction of traditional insulin injection methods in recent years and has led to an increased introduction of injection pens.
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