The rising predominance of diabetes in different age groups is an essential factor encouraging the growth of the insulin pen market globally. Also, developing R&D ventures are also advancing the market. However, concerns related to the usage of infusion pen and stringent laws for new product developments are restraining the growth of the market.
Market Size – USD 21.71 Billion in 2018, Market Growth - CAGR of 4.4%, Market Trends –
Technological improvements in insulin infusion devices and new product developments are fuelling the market growth.
NEW YORK, April 15, 2019 (GLOBE NEWSWIRE) -- The global Insulin Pens Market is estimated to reach USD 41.80 Billion by 2026, 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.
Request free sample of this research report at: https://www.reportsanddata.com/sample-enquiry-form/1285
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.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/insulin-pens-market
Further key findings from the report suggest
Order Now: https://www.reportsanddata.com/checkout-form/1285
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:
End-User Outlook (Volume, Thousand Units; and Revenue, USD Million; 2016-2026)
Product Outlook (Volume, Thousand Units; and Revenue, USD Million; 2016-2026)
Usage Outlook (Volume, Thousand Units; and Revenue, USD Million; 2016-2026)
Regional Outlook (Volume, Thousand Units; and Revenue, USD Billion; 2016-2026)
Browse more reports of Medical Devices category at: https://www.reportsanddata.com/report/category/medical-devices
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power, and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
Contact Us:
John Watson
Head of Business Development
Reports And Data | Web: www.reportsanddata.com
Direct Line: +1-800-819-3052
E-mail: sales@reportsanddata.com