Diabetes Pen Market Growth, Demands, CAGR, Sales Volume, Opportunities, Types, Applications and Forecast up to 2027

 Insulin is a hormone produced by the pancreas.  A diabetes pen is used to inject insulin for the treatment of diabetes. It is composed of an insulin cartridge (integrated or bought separately) and a dial to measure the dose, and is used with disposable pen needles to deliver the dose. Diabetes is a major chronic disease across the globe. Changing lifestyle, high intake of carbohydrates and sugar, and obesity are major factors elevating the prevalence of the disease. Increasing prevalence of diabetes and obesity and growing demand for diabetes pen drive the market for diabetes pen.

The global diabetes pen market is expected to grow at a CAGR of approximately 8.45% during the forecast period 2017-2023.

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Market Highlights
The global diabetes pens market is estimated to progress over the upcoming years due to increasing prevalence of diabetes and corresponding rise in the patients in need of regular insulin administration. Introduction of insulin pens and smart insulin pens have significantly contributed to rapid proliferation of diabetes injection pens market. Growing incidence of needle stick injury corresponding to the growing users of insulin injections is additionally driving patients to opt for diabetes injection pens.  
During forecast period 2017 to 2023, the global diabetes pen market is expected to reach USD 9.85 billion by 2023 at a CAGR of 8.45%
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Global Diabetes Pen Market Players
Key players in diabetes pen market: AstraZeneca (U.K), Teruma Medical Corporation (Japan), Greinier Bio One International GmBH (U.S.), F. Hoffman La Roche AG (Switzerland), Becton, Dickinson and Company (U.S.), Bayer Cropscience Ltd. (Germany), and HTL STREFA SA (Poland)

Regional Analysis
Globally, diabetes pen market consists of four regions: North America, Europe, Asia Pacific. and Middle East & Africa. North America is expected to be the largest market for diabetes pen. Reimbursement for diabetes management and technological advancement in production of diabetes pens to administer accurate and safe dose drive this market.  Extensive research and development to enhance the quality of diabetes pens as well as to increase their reliability is also another reason for the growth of this market in North America. Large number of diabetes pen users have been found in European countries, especially in the U.K. leading to an increase in their demand.  Asia Pacific is expected to be fastest growing market for diabetes pen with India being the largest market due to growing expenditure in the healthcare to curb lifestyle disease and improved healthcare infrastructure. The Middle East & Africa, major drivers for rise in this market are initiative to control the elevated levels of diabetes and awareness regarding lifestyle diseases.

Segmentation:

The global diabetes pen market is segmented on the basis of product, which includes insulin pens and insulin pen needle. On the basis of usage, the market is segmented into includes reusable pens and disposable pens used of diabetes pen. And on the basis of distribution channel, the market is segmented into hospital pharmacy, retail pharmacy, online sales, and diabetes clinics.

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