Market Size of Asia-Pacific Insulin Syringe Industry
| Study Period | 2018 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 1.04 Billion |
| Market Size (2029) | USD 1.08 Billion |
| CAGR (2024 - 2029) | 0.85 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
APAC Insulin Syringe Market Analysis
The Asia-Pacific Insulin Syringe Market size is estimated at USD 1.04 billion in 2024, and is expected to reach USD 1.08 billion by 2029, growing at a CAGR of 0.85% during the forecast period (2024-2029).
The demand for insulin syringes in the Asia-Pacific region is experiencing a notable increase, mainly due to the rising prevalence of diabetes. As the number of individuals with diabetes continues to rise, there is a growing requirement for efficient insulin delivery systems, which in turn is fueling the market for insulin syringes in the region. This article delves into the factors that are contributing to the expansion of the Asia-Pacific insulin syringe market amidst the escalating diabetes epidemic.
The Asia-Pacific region is currently facing a significant health issue with the emergence of diabetes. This problem is prevalent in countries such as China, India, Japan, and others. The rise in diabetes cases can be attributed to various factors including sedentary lifestyles, unhealthy eating habits, and genetic predisposition. The International Diabetes Federation (IDF) reports that the Asia-Pacific region has the highest number of individuals living with diabetes, making up a considerable portion of the global diabetic population.
The prevalence of diabetes in the region has led to a strong need for insulin delivery systems, such as syringes. Insulin injections are vital for managing diabetes, particularly for those with type 1 diabetes and some individuals with type 2 diabetes who rely on insulin therapy. Insulin syringes are essential for accurately administering insulin, guaranteeing the correct dosage and successful glycemic control.
Diabetes poses an emerging healthcare burden across the region. Comparing the population with and without diabetes, those with diabetes have a 300% increased risk of being hospitalized and thus incur more healthcare expenses compared to non-diabetic people.
Furthermore, patients attempting to control their blood glucose levels tightly to prevent the long-term complications associated with fluctuations in blood glucose levels are at greater risk for overcorrection and the resultant hypoglycemia. Achieving nominal results can be very difficult without multiple daily injections of insulin or insulin pump therapy.
Owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period.
APAC Insulin Syringe Industry Segmentation
Insulin syringes are used for self-injection and are available in multiple sizes to help deliver different doses of insulin. The Asia-Pacific insulin syringe market is segmented by geography. The report offers the value (in USD) and volume (in units) for the above segments.
| Geography | |
| Australia | |
| China | |
| India | |
| Japan | |
| Indonesia | |
| Malaysia | |
| Philippines | |
| Vietnam | |
| South Korea | |
| Thailand | |
| Rest of Asia-Pacific |
Asia-Pacific Insulin Syringe Market Size Summary
The Asia-Pacific insulin syringe market is poised for growth, driven by the increasing prevalence of diabetes in the region. This surge in diabetes cases, particularly in countries like China, India, and Japan, is attributed to factors such as sedentary lifestyles and unhealthy dietary habits. As diabetes becomes a significant health concern, the demand for efficient insulin delivery systems, including syringes, is on the rise. Insulin syringes play a crucial role in managing diabetes, especially for individuals with type 1 diabetes and some with type 2 diabetes who depend on insulin therapy. The need for accurate insulin administration to ensure proper dosage and glycemic control is propelling the market forward.
In India, the situation is exacerbated by lifestyle choices and dietary patterns, leading to a substantial portion of the population being affected by diabetes. Efforts by authorities and healthcare institutions to raise awareness, promote healthy living, and ensure access to essential diabetes care supplies are contributing to market expansion. The market is characterized by constant innovations from leading manufacturers like Becton Dickinson and Terumo Corporation, who are employing both organic and inorganic growth strategies to maintain their market positions. Recent product launches and technological advancements, such as the integration of connected technology for better therapy adherence, underscore the dynamic nature of the market.
Asia-Pacific Insulin Syringe Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Market Overview
-
1.2 Market Drivers
-
1.3 Market Restraints
-
1.4 Porter's Five Forces Analysis
-
1.4.1 Bargaining Power of Suppliers
-
1.4.2 Bargaining Power of Consumers
-
1.4.3 Threat of New Entrants
-
1.4.4 Threat of Substitute Products and Services
-
1.4.5 Intensity of Competitive Rivalry
-
-
-
2. MARKET SEGMENTATION
-
2.1 Insulin Syringe
-
2.2 Geography
-
2.2.1 Australia
-
2.2.2 China
-
2.2.3 India
-
2.2.4 Japan
-
2.2.5 Indonesia
-
2.2.6 Malaysia
-
2.2.7 Philippines
-
2.2.8 Vietnam
-
2.2.9 South Korea
-
2.2.10 Thailand
-
2.2.11 Rest of Asia-Pacific
-
-
Asia-Pacific Insulin Syringe Market Size FAQs
How big is the Asia-Pacific Insulin Syringe Market?
The Asia-Pacific Insulin Syringe Market size is expected to reach USD 1.04 billion in 2024 and grow at a CAGR of 0.85% to reach USD 1.08 billion by 2029.
What is the current Asia-Pacific Insulin Syringe Market size?
In 2024, the Asia-Pacific Insulin Syringe Market size is expected to reach USD 1.04 billion.
