Disposable Insulin Pen Market Trends

Growth Drivers

• Growing Diabetes Population To Drive The Growth Of Overall Market: Diabetes is increasingly becoming common across major parts of the world. The growing incidence of type I and type II diabetes, especially among the geriatric population, raises the demand for insulin therapy. Moreover, data presented by the World Bank suggests that diabetes was prevalent in about 10.8% of the total population of the United States and 8.8% of the total world’s population in 2019. On account of these factors, the market for disposable insulin pens is anticipated to grow at a notable rate in the coming years.
• User-Friendly Design Of Insulin Pens To Promote Market Growth: Disposable insulin pens are created in such a way that they can be used by people who are newly diagnosed with diabetes as well as old-aged people. Use of insulin pens ensures supply of accurate insulin dosage and makes the process of delivery easier. Further, the increasing demand for self-administration of insulin, ease of use and lower risk of infection through disposable insulin pens are some factors anticipated to lead to the growth of this market.

Challenges

• High Cost Of Disposable Insulin Pens To Restrict The Market Growth: Disposable insulin pens might be more expensive than insulin bottles and syringes. This is estimated to restrict a large section of the population from purchasing these pens, which becomes a restraint to the market growth.