The Europe Diabetes Pen Market Share is expected to grow at a notable CAGR of 8.45% during the forecast period between 2022 and 2030. Moreover, Market Research Future (MRFR) forecasts that the global Europe Diabetes Pen Market will garner a valuation of USD 9.85 billion by the end of the forecast period.
Insulin is a hormone that is produced by the help of pancreas. However,
during diabetes, the pancreas fails to produce the requisite insulin for the
body. In order to inject insulin, a diabetes pen is required for the treatment
of diabetes. The product consists of an insulin cartridge, one which is either
integrated or bought separately, and a dial that is used to measure the dosage
level. This is used with disposable pen needles that helps deliver the dosage.
The high intake of sugar and carbs, increasing cases of obesity, and the
evolving consumer lifestyle are some of the major factors spreading the
prevalence of this disease.
Competitive Landscape
The Europe
Diabetes Pen Market Players, including Becton, Dickinson and Company (U.S.),
AstraZeneca (U.K), Teruma Medical Corporation (Japan), F. Hoffman La Roche
AG (Switzerland), Greinier Bio One International GmBH (U.S.), Bayer Cropscience
Ltd. (Germany), and HTL STREFA SA (Poland). The players are innovating with
new products and consistently conducting research and development activities to
edge past the competition and strengthen their global reach.
Market Segmentation
The Europe Diabetes Pen Market Outlook segmentation is classified on the
basis of usage, distribution/sales channel, and product type.
·
By product type, the market divides into insulin pen needles and insulin pens.
·
By usage,
the market segments into disposable pens and reusable pens.
·
By distribution channel, the market comprises of online sales, retail pharmacy, hospital
pharmacy, and diabetes clinics.
Regional Analysis
The Europe
Diabetes Pen Market Overview is geographically segmented into the following
four major regions: Asia Pacific, Europe, Americas, and the Middle East &
Africa.
North
America holds the largest share of the Europe Diabetes Pen Market. Moreover,
the region is expected to garner consistent growth and expansion in the near
future. The factor influencing this positive growth trajectory of the market is
the presence of a large diabetic population, improved awareness of the
consumers, and the reimbursement policies for diabetes management. Add to this,
continual advancements in diabetes pen technology and increasing research and
development activities are also expected to drive the regional market of North
America.
Europe is
the second-largest market in the global landscape and is expected to witness
negligible growth during the forecast period. Herein, the growth of the region
is attributed to the extensive usage of diabetes pen in the United Kingdom.
The Asia
Pacific region is another key market in the global scenario. The region is
positioned to grow in the fastest manner and cement its position as one of the
leading regional markets over the forecast period. The Asia Pacific region is
driven by the large pool of patients, improving awareness among the consumers,
evolving healthcare infrastructure, and the increasing expenditure in
healthcare. Additionally, new and innovative product launches and supportive
regulations imposed by the government help speed up the market growth in this
region. Countries like India, China, and Japan are expected to contribute
majorly to the success of the market.
India is
known to have a major percentage of people suffering from diabetes. Due to the
rising old-age population with diabetic conditions and an irregular change in
sugar levels, India is contributing significantly to the diabetes pen market.
Lastly, the
Middle East & Africa region is expected to attain steady and decent growth
owing to the increasing awareness among the consumers concerning
lifestyle-based diseases and the emergence of an influx of preventive measures
to tackle the elevated sugar levels of individuals.
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Research Future (MRFR), enable customers to unravel the complexity of various
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