The global Insulin Pens Market is estimated to reach USD 53.52 Billion by 2030, according to a new report by Reports and Data. This can be mainly associated with the rising predominance of diabetes in different age groups along with developing R&D ventures which are boosting the growth of the market further. Technological improvements in insulin infusion devices are one of the growing trends in the market globally. Also, one of the principal factors leading to the growth of the market is the rising number of diabetics due to obesity, aging, and unhealthy lifestyles. Obesity is believed to be a significant factor influencing the growth of diabetes in individuals.
Diabetes is a significant health condition that is rapidly growing among the world population; therefore, the adoption of smart insulin pens is necessary for safe and effective control of insulin to people who have diabetes. Insulin pens have earned popularity in current years. The demand is due to the rapidly rising number of diabetic patients, and cost-effectiveness of the insulin pens. Also, the accurate and simple delivery function of appropriate dosing adds to the demand.
Nevertheless, some limitations are there that restrain the market growth, such as two types of insulin cannot be mixed in an insulin pen, therefore, leading to more number of injections. The crucial factors that drive the growth of the market include lower cost of insulin pumps, growing diabetic population, and painless injections. The other benefit of the device is that it can be used by people with visual or motor skills impairments easily.
North America accounts for the largest market share of 33.50% in 2018. As the number of diabetic patients increases, it is necessary that insulin pens are used correctly. The growing diabetic population and the convenience of technologically advanced devices are the factors contributing to the rising growth of the market in North America. The number of sale of units of insulin Pens is expected to grow steadily during the forecast period.
Further key findings from the report suggest
To understand how our Insulin Pens Market can bring difference to your business strategy:–Download Summary
For the purpose of this report, Reports and Data have segmented global Insulin Pens Market on the basis of Product, End-User, Usage, and region:
Product Outlook (Revenue, USD Billion; Volume, Thousand Units; 2019-2030)
Usage Type Outlook (Revenue, USD Billion; Volume, Thousand Units; 2019-2030)
End-use Outlook (Revenue, USD Billion; Volume, Thousand Units; 2019-2030)
Regional Outlook (Revenue, USD Billion; Volume, Thousand Units; 2019-2030)
Browse More Reports:
Biotechnology Market By Product Type (Instruments, Reagents, Software & Services), By Technology (Tissue Engineering & Regeneration, DNA Sequencing, Cell-based Assays, Nanobiotechnology), By Application, and By Region Forecast to 2030
Transplantation Market Size, Share, Trends, By Product (Tissue Products, Immunosuppressive Drugs, and Preservation Solutions), By Application (Organ Transplant, Tissue Transplant) By End-use, and By Region Forecast to 2030
Media ContactCompany Name: Reports and DataContact Person: John WatsonEmail: Send EmailPhone: +1-212-710-1370Address:40 Wall St. 28th floor City: New York CityState: NY 10005Country: United StatesWebsite: https://www.reportsanddata.com/press-release/global-insulin-pen-market