Market Size of Asia-Pacific Insulin Pens Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Market Size (2024) | USD 17.46 Billion |
Market Size (2029) | USD 20.03 Billion |
CAGR (2024 - 2029) | 2.70 % |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Asia-Pacific Insulin Pens Market Analysis
The Asia-Pacific Insulin Pens Market size is estimated at USD 17.46 billion in 2024, and is expected to reach USD 20.03 billion by 2029, growing at a CAGR of 2.70% during the forecast period (2024-2029).
Patients with diabetes, infected with COVID-19 experienced elevated blood glucose, abnormal glucose variability, and diabetic complications. The prevalence of diabetes in people with COVID-19 caused a significant increase in the severity and mortality of COVID-19 in people with either type 1 or type 2 diabetes mellitus, especially in association with poor glycemic control. While new-onset hyperglycemia and new-onset diabetes were increasingly recognized in the context of COVID-19 and were associated with worse outcomes. To avoid aggravation, a patient's blood glucose had to be monitored and maintained. The pandemic emergency created a rise in remote care from both patients and providers and removed many long-standing regulatory barriers.
A disposable insulin pen is a prefilled pen and is thrown away after a single use whereas reusable pens permit the insertion of a pen fill (cartridge), allowing repeated usage. The needles on a reusable pen should be replaced periodically. Insulin Pens are the most widely used devices for the administration of insulin among diabetic patients. The ease of use and accuracy in administration make insulin pen usage convenient for insulin users. The main types of diabetes are type 1 diabetes and type 2 diabetes. For a patient with type 1 diabetes, insulin therapy is important for replacing the insulin that the body doesn't produce. People with type 2 diabetes or gestational diabetes need insulin therapy if other treatments such as diabetes medications and other lifestyle changes are not able to keep blood glucose levels within the desired range.
The Asia-Pacific region has witnessed an alarming increase in the prevalence of diabetes in recent years. In developing countries, such as China and India, the rate of diabetes is at an all-time high, mainly due to lifestyle changes. According to the International Diabetes Federation's latest estimates, 90 million adults were living with diabetes in the IDF South-East Asia Region. This figure is estimated to increase to 152 million by 2045 and 206 million adults were living with diabetes in the IDF Western Pacific Region which is estimated to increase to 260 million by 2045. Diabetes is associated with many health complications. Patients with diabetes require many corrections throughout the day to maintain nominal blood glucose levels, such as oral anti-diabetic medication, insulin administration, or ingestion of additional carbohydrates by monitoring their blood glucose levels.
Owing to the aforementioned factors the market is expected to grow over the forecast period.
Asia-Pacific Insulin Pens Industry Segmentation
An insulin pen is a device used to inject insulin. Mainly, two types of insulin pens are available: disposable and reusable. The Asia-Pacific insulin pens market is segmented by products (disposable insulin pens and cartridges in reusable pens) and geography (Japan, South Korea, China, India, Australia, Vietnam, Malaysia, Indonesia, Philippines, Thailand, and the rest of Asia-Pacific). The report offers the value (USD) and volume (units) for the above segments. Further, the report will cover a segment-wise breakdown (value and volume) for all the countries covered under the table of contents.
Product | |
Disposable Insulin Pens | |
Cartridges in Reusable Pens |
Geography | |
Japan | |
South Korea | |
China | |
India | |
Australia | |
Vietnam | |
Malaysia | |
Indonesia | |
Philippines | |
Thailand | |
Rest of Asia-Pacific |
Asia-Pacific Insulin Pens Market Size Summary
The Asia-Pacific insulin pens market is poised for steady growth over the forecast period, driven by the increasing prevalence of diabetes and the rising demand for convenient insulin delivery methods. The region has seen a significant rise in diabetes cases, particularly in developing countries like China and India, attributed to lifestyle changes and genetic factors. Insulin pens, both disposable and reusable, are becoming the preferred choice for diabetes management due to their ease of use, portability, and accuracy in insulin administration. The market is characterized by a shift towards smart insulin pens that integrate with mobile applications for better monitoring and management of blood glucose levels. Technological advancements in insulin delivery devices are further enhancing the safety and accuracy of insulin administration, contributing to market growth.
Japan holds a significant share of the Asia-Pacific insulin pens market, supported by a well-organized healthcare system that covers diabetes management costs and promotes self-injection insulin therapy. The country's proactive public health policies and disease management programs have facilitated the adoption of insulin pens. The market is moderately fragmented, with major global players like Novo Nordisk, Sanofi, and Eli Lilly, alongside regional manufacturers. Recent strategic partnerships and acquisitions, such as Novo Nordisk's collaboration with Kakao Healthcare and its negotiations with BIOCORP, highlight the ongoing efforts to enhance smart healthcare services and innovative delivery systems in the region. These developments are expected to sustain the market's growth trajectory in the coming years.
Asia-Pacific Insulin Pens Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Product
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2.1.1 Disposable Insulin Pens
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2.1.2 Cartridges in Reusable Pens
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2.2 Geography
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2.2.1 Japan
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2.2.2 South Korea
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2.2.3 China
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2.2.4 India
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2.2.5 Australia
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2.2.6 Vietnam
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2.2.7 Malaysia
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2.2.8 Indonesia
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2.2.9 Philippines
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2.2.10 Thailand
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2.2.11 Rest of Asia-Pacific
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Asia-Pacific Insulin Pens Market Size FAQs
How big is the Asia-Pacific Insulin Pens Market?
The Asia-Pacific Insulin Pens Market size is expected to reach USD 17.46 billion in 2024 and grow at a CAGR of 2.70% to reach USD 20.03 billion by 2029.
What is the current Asia-Pacific Insulin Pens Market size?
In 2024, the Asia-Pacific Insulin Pens Market size is expected to reach USD 17.46 billion.