The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s insulin pens, syringes, pumps and injectors market report forecasts the insulin pens, syringes, pumps and injectors market size to grow to $29.75 Billion by 2027, with a CAGR (compound annual growth rate) of almost 7%.

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Insulin Pens, Syringes, Pumps And Injectors Market Size Forecast

The global insulin pens, syringes, pumps and injectors market is expected to grow from $21.09 billion in 2022 to $22.81 billion in 2023 at a compound annual growth rate (CAGR) of 8.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The insulin pens, syringes, pumps and injectors market size is expected to grow to $29.75 billion in 2027 at a CAGR of 6.9%.

North America held the largest insulin pens, syringes, pumps and injectors market share.

Key Insulin Pens, Syringes, Pumps And Injectors Market Driver ­– Increase In The Prevalence Of Diabetes Globally

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.

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Key Insulin Pens, Syringes, Pumps And Injectors Market Trend – Technological Advancement

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.

Insulin Pens, Syringes, Pumps And Injectors Market Segment

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

Insulin Pens, Syringes, Pumps And Injectors Market Major Players and Strategies

Major players in the insulin pens, syringes, pumps and injectors market are Novo Nordisk A/S, Eli Lilly and Company, Medtronic PLC., Abbott, Insulet Corporation, Sanofi, Roche F. Hoffmann-La Roche Ltd., Becton, Animas Corporation, and Ypsomed Holding AG.

In 2020, Medtronic, an Irish medical device company agreed to acquire Companion Medical, a manufacturer of InPen, for an undisclosed amount. The connected insulin pen helps users to manage their diabetes by tracking insulin doses and active insulin. This acquisition is an ideal strategic fit for Medtronic, to further simplify diabetes management and improve outcomes by optimizing dosing decisions for a large number of people using multiple daily injections (MDI). Companion Medical was founded by people with diabetes that fuels their drive to create insulin technologies that enable users to live their lives with diabetes solutions that make sense.

The Insulin Pens, Syringes, Pumps And Injectors Global Market Report 2023 covers regional data on insulin pens, syringes, pumps and injectors market size, insulin pens, syringes, pumps and injectors market trends and drivers, opportunities, strategies, and insulin pens, syringes, pumps and injectors market competitor analysis. The countries covered in the insulin pens, syringes, pumps and injectors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Insulin pens, syringes, pumps, and injectors are used to administer insulin to diabetic patients to control blood glucose levels. These devices are reusable or disposable tools used to inject the desired dose of insulin into the blood of a diabetic patient.

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