Market Size of MEA Insulin Pens Industry
Study Period | 2018 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Market Size (2024) | USD 1.02 Billion |
Market Size (2029) | USD 1.13 Billion |
CAGR (2024 - 2029) | 2.19 % |
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?
Middle East and Africa Insulin Pens Market Analysis
The MEA Insulin Pens Market size is estimated at USD 1.02 billion in 2024, and is expected to reach USD 1.13 billion by 2029, growing at a CAGR of 2.19% during the forecast period (2024-2029).
The COVID-19 pandemic has substantially impacted the Middle East and Africa Insulin Pens Market. Type-1 diabetes patients are impacted more during Covid-19. People with diabetes are having a weak immune system so, with COVID-19, the immune system gets weaker very fast. People with diabetes will have more chances to get into serious complications rather than normal people. The manufacturers of Insulin delivery devices have taken care during COVID-19 to deliver insulin devices to diabetes patients with the help of local governments. Novo Nordisk stated on their website that 'Since the start of COVID-19, our commitment to patients, our employees and the communities where we operate has remained unchanged, we continue to supply our medicines and devices to people living with diabetes and other serious chronic diseases, safeguard the health of our employees, and take actions to support doctors and nurses as they work to defeat COVID-19.' Doctors around the world suggested diabetes patients should check their diabetes levels more often to be careful and maintain normal blood glucose levels, which led to an increase in the usage of insulin pens.
Insulin cartridges in reusable pens are an upgraded version of insulin vials. Most types of insulins are manufactured in the form of cartridges, making them easily accessible. These devices have all the functional benefits of reusable pens and are cost-effective, as these cartridges are less expensive compared to disposable insulin pens in the long run. Due to the increasing demand for insulin cartridges, most insulin device manufacturing companies have produced reusable insulin pens that are compatible with various insulin manufacturers' cartridges. These insulin cartridges are considered more consumer-friendly, as they are smaller and less noticeable than the classic vial-and-syringe. These devices are also more portable for consumers on the go. Cartridges that are open do not need to be refrigerated, making storage very easy for consumers.
Technological advancements have increased over the period in Insulin delivery devices for safer and more accurate administration of insulin. Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period.
Middle East and Africa 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 Middle East and Africa insulin pens market is segmented into products (disposable insulin pens and cartridges in reusable pens) and geography (Saudi Arabia, Iran, Egypt, Oman, South Africa, and the rest of the Middle East and Africa). The report offers the value (in USD million) and volume (in units million) 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 | |
Saudi Arabia | |
Iran | |
Egypt | |
Oman | |
South Africa | |
Rest of Middle East and Africa |
MEA Insulin Pens Market Size Summary
The Middle East and Africa insulin pens market is poised for growth, driven by the increasing prevalence of diabetes and the rising demand for advanced insulin delivery devices. The market is characterized by a shift towards reusable insulin pens and cartridges, which offer cost-effective and consumer-friendly alternatives to traditional vials and syringes. These advancements are supported by technological innovations that enhance the safety and accuracy of insulin administration. The region's diabetes epidemic, fueled by factors such as obesity, unhealthy diets, and sedentary lifestyles, has prompted governments to implement policies and initiatives aimed at combating the disease. Despite these efforts, the market remains consolidated, with a few major players like Novo Nordisk, Sanofi, and Eli Lilly dominating the landscape.
Saudi Arabia stands out as a significant contributor to the market's growth, with a substantial portion of its population living with diabetes. The government's commitment to improving healthcare access and quality, alongside private sector collaborations, is expected to further stimulate market expansion. Recent partnerships and initiatives, such as those between Eli Lilly and EVA Pharma, aim to enhance the supply of affordable insulin in Africa, highlighting the region's potential for growth. The market's trajectory is supported by ongoing efforts to address the healthcare needs of diabetic patients, ensuring the availability of essential medical devices and treatments.
MEA 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 Saudi Arabia
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2.2.2 Iran
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2.2.3 Egypt
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2.2.4 Oman
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2.2.5 South Africa
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2.2.6 Rest of Middle East and Africa
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MEA Insulin Pens Market Size FAQs
How big is the MEA Insulin Pens Market?
The MEA Insulin Pens Market size is expected to reach USD 1.02 billion in 2024 and grow at a CAGR of 2.19% to reach USD 1.13 billion by 2029.
What is the current MEA Insulin Pens Market size?
In 2024, the MEA Insulin Pens Market size is expected to reach USD 1.02 billion.