North America Insulin Pens Market Size (2024 - 2029)

The North America Insulin Pens Market is projected to experience growth over the forecast period, driven by increased demand for diabetes management solutions, particularly during the COVID-19 pandemic. The pandemic highlighted the vulnerability of diabetes patients, leading to a heightened focus on monitoring and managing blood glucose levels, which in turn boosted the market. The need for insulin pens has been amplified by the challenges diabetes patients face in maintaining stable blood glucose levels, as well as the increased healthcare costs associated with diabetes-related complications. These factors collectively contribute to the anticipated expansion of the market size in the coming years.

Market Size of North America Insulin Pens Industry

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North America Insulin Pens Market Summary
Study Period 2018 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Market Size (2024) USD 11.99 Billion
Market Size (2029) USD 14.87 Billion
CAGR (2024 - 2029) 4.87 %

Major Players

North America Insulin Pens Market Major Players

*Disclaimer: Major Players sorted in no particular order

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North America Insulin Pens Market Analysis

The North America Insulin Pens Market size is estimated at USD 11.99 billion in 2024, and is expected to reach USD 14.87 billion by 2029, growing at a CAGR of 4.87% during the forecast period (2024-2029).

The COVID-19 pandemic has substantially impacted the North America 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 diabetes care products 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.

In North America, till April 2022, the United States had the highest number of COVID cases with 82 million, the country also registered the highest death rate. According to the Diabetes Voice, close to 40,000 people died were having diabetes. In the North American region diabetes patients were more concerned about stocking up the monitoring and managing devices due to this the market increased during these years.

Diabetes is associated with many health complications. 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. Patients with Type 2 diabetes require many corrections throughout the day for maintaining nominal blood glucose levels, such as the administration of additional insulin or ingestion of additional carbohydrates. 

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 therapy.

Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period.

North America 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 North American insulin pens market is segmented into products (disposable insulin pens and cartridges in reusable pens) and geography (Canada, United States, and the Rest of North America). The report offers the value (in USD) and volume (in 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
Canada
United States
Rest of North America
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North America Insulin Pens Market Size Summary

The North American insulin pens market is poised for significant growth, driven by the increasing prevalence of diabetes and the demand for effective diabetes management solutions. The market is characterized by a shift towards more user-friendly and portable insulin delivery systems, such as reusable pens with insulin cartridges. These devices offer cost-effective and convenient alternatives to traditional vial-and-syringe methods, aligning with patient preferences for minimally intrusive treatment options. The COVID-19 pandemic has further underscored the importance of insulin pens, as individuals with diabetes faced heightened health risks, prompting increased usage and demand for these devices. The market landscape is moderately consolidated, with major players like Novo Nordisk, Sanofi, and Eli Lilly & Company leading the charge in innovation and accessibility.

The United States holds a dominant position in the North American insulin pens market, with a robust growth trajectory anticipated over the forecast period. The rising incidence of diabetes, coupled with supportive healthcare policies and initiatives, such as Medicare coverage for insulin and related supplies, underscores the market's potential. The World Health Assembly's resolution to integrate diabetes prevention and treatment into primary health services further bolsters the market outlook. Additionally, advancements in technology and increased awareness about diabetes present lucrative opportunities for market players. Recent developments, such as Novo Nordisk's price reductions and Cequr's innovative insulin delivery device, highlight the ongoing efforts to enhance diabetes care and improve patient outcomes in the region.

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North America Insulin Pens Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Product

      1. 2.1.1 Disposable Insulin Pens

      2. 2.1.2 Cartridges in Reusable Pens

    2. 2.2 Geography

      1. 2.2.1 Canada

      2. 2.2.2 United States

      3. 2.2.3 Rest of North America

North America Insulin Pens Market Size FAQs

The North America Insulin Pens Market size is expected to reach USD 11.99 billion in 2024 and grow at a CAGR of 4.87% to reach USD 14.87 billion by 2029.

In 2024, the North America Insulin Pens Market size is expected to reach USD 11.99 billion.

North America Insulin Pens Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)