Europe Insulin Pens Market Growth, Size, Trends, Demand, Share, Revenue and Future Outlook
Europe Insulin Pens Market Size- By Product Type- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Mar-2024 | Report ID: HLCA2431 | Pages: 1 - 155 | Formats*: |
| Category : Healthcare | |||
Europe Insulin Pens Market Introduction and Overview
According to SPER Market Research, the Europe Insulin Pens Market is estimated to reach USD 2.29 Billion by 2033 with a CAGR of 2.1%.
The report includes an in-depth analysis of the Europe Insulin Pens Market, including market size and trends, product mix, applications, and supplier analysis. Insulin pens are devices that help diabetics give insulin in a more convenient and efficient manner. They consist of an insulin cartridge, a disposable needle, and a pen-like device that allows users to dial in the desired amount. Insulin pens are classified into two types: reusable pens, which may be refilled with insulin cartridges, and disposable pens, which are pre-filled and discarded after use.
- August 2022: Lilly achieved CE (Conformité Européenne or European Conformity) marking approval for the Tempo Smart Button and intends to launch small-scale pilots in select countries in collaboration with existing diabetes treatment ecosystems.
- June 2022: Cequr, the market leader in wearable diabetes technology, has unveiled the Insulin Pen 2.0TM, its most revolutionary insulin delivery device to date. The pen is small enough to be always worn on the user's body, and it also contains a built-in blood glucose meter so that users may track their blood sugar throughout the day. The insulin pen also features an integrated injection mechanism that eliminates the need for manual pumping or priming when injecting insulin into the body, making it much easier and faster to administer than other types of insulin pumps on the market.
Market Opportunities and Challenges
The CAGR of the European insulin Pens market is increasing as the number of diabetics grows. A large portion of the global population leads unhealthy lifestyles and consumes large amounts of carbohydrates in their diets, which can raise blood sugar levels and increase the risk of diabetes complications such as vision loss, nerve damage, kidney disease, retinopathy, neuropathy, and other chronic illnesses. The increasing number of diabetes patients worldwide is pushing the demand for effective glucose monitoring and smart insulin pens, which let blood sugar permeate the body's cells and be used for energy, thereby keeping glucose levels under control. The growing number of diabetes patients worldwide has resulted in higher healthcare costs, increasing demand for smart insulin pens for glucose control. Furthermore, the growing elderly population, rising prevalence of diabetes type 2 condition, and the introduction of new products by leading market players, as well as tactics such as mergers and acquisitions, are likely to drive insulin pens market revenue during the forecast period.
There are various problems in the European insulin pen industry. For starters, money is a big hurdle, especially in economically deprived places, where the initial cost of purchasing an insulin pen device and the continuous costs of insulin cartridges or pre-filled pens can strain budgets. Furthermore, low awareness and limited access to healthcare institutions prevent widespread adoption. Furthermore, despite the ease with which insulin pens are used, safety issues remain. These concerns include potential needlestick injuries, mismanagement, and contamination risks associated with shared use by numerous people. Addressing these issues is critical to ensuring greater acceptability and use of insulin pens across Europe.
Market Competitive Landscape
Leading market players invest extensively in R&D to expand their product ranges, helping the insulin pens market to grow even further. Market participants are also engaging in a variety of strategic initiatives to expand their presence, with key market outcomes including new product launches, contractual agreements, mergers and acquisitions, higher-level investments, and collaboration with other organisations. To thrive and prosper in a more competitive, expanding market, the insulin pens sector must provide low-cost products. The major key players in the Europe Insulin Pens Market are: Biocon, Eli Lilly, Medtronic, Novo Nordisk, Sanofi, Wockhardt, Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Product Type |
| Regions covered | France, Germany, Italy, Russia, Spain, United Kingdom, Rest of Europe |
| Companies Covered | Biocon, Eli Lilly, Medtronic, Novo Nordisk, Sanofi, Wockhardt, Others |
COVID-19 Impact on Europe Insulin Pens Market
The COVID-19 pandemic has had a substantial impact on the European Insulin Pens Market, notably on Type 1 diabetes patients, who are more susceptible to severe consequences. During the pandemic, manufacturers worked with local governments to guarantee that diabetic patients continued to receive insulin devices. Medical professionals encourage enhanced blood glucose monitoring to successfully control diabetes, which has led to an increase in the use of insulin pens. Furthermore, the increased prevalence of diabetes, including Type 2 patients who require insulin, drives market expansion. Technological developments in insulin pen devices are fueling this growth trajectory, showing favourable market prospects in the near future.
Key Target Audience:
- Diabetic Patients
- Healthcare Professionals
- Hospitals and Clinics
- Pharmaceutical Companies
- Distributors and Suppliers
- Regulatory Authorities
- Research Institutions
- Insulin Pen Manufacturers
- Others
Our in-depth analysis of the Europe Insulin Pens Market includes the following segments:
| By Product Type: |
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| By Region: |
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Key Topics Covered in the Report:
- Europe Insulin Pens Market Size (FY’2024-FY’2033)
- Overview of Europe Insulin Pens Market
- Segmentation of Europe Insulin Pens Market By Product Type (Cartridges in Reusable Pens, Disposable Insulin Pens)
- Statistical Snap of Europe Insulin Pens Market
- Expansion Analysis of Europe Insulin Pens Market
- Problems and Obstacles in Europe Insulin Pens Market
- Competitive Landscape in the Europe Insulin Pens Market
- Impact of COVID-19 and Demonetization on Europe Insulin Pens Market
- Details on Current Investment in Europe Insulin Pens Market
- Competitive Analysis of Europe Insulin Pens Market
- Prominent Players in the Europe Insulin Pens Market
- SWOT Analysis of Europe Insulin Pens Market
- Europe Insulin Pens Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the Europe Insulin Pens Market
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Europe Insulin Pens Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Europe Insulin Pens Market
7. Europe Insulin Pens Market, By Product Type (USD Million)
7.1. Europe Insulin Pens Market Value Share and Forecast, By Product Type, 2024-20337.2. Cartridges in Reusable Pens7.3. Disposable Insulin Pens
8. Europe Insulin Pens Market Forecast, 2020-2033 (USD Million)
8.1. Europe Insulin Pens Market Size and Market Share
9. Europe Insulin Pens Market, By Product Type, 2020-2033 (USD Million)
9.1. Europe Insulin Pens Market Size and Market Share By Product Type (2020-2026)9.2. Europe Insulin Pens Market Size and Market Share By Product Type (2027-2033)
10. Europe Insulin Pens Market, By Region, 2020-2033 (USD Million)
10.1. Europe Insulin Pens Market Size and Market Share By Region (2020-2026)10.2. Europe Insulin Pens Market Size and Market Share By Region (2027-2033)10.3. France10.4. Germany10.5. Italy10.6. Russia10.7. Spain10.8. United Kingdom10.9. Rest of Europe
11. Company Profile
11.1. Biocon11.1.1. Company details11.1.2. Financial outlook11.1.3. Product summary11.1.4. Recent developments11.2. Eli Lilly11.2.1. Company details11.2.2. Financial outlook11.2.3. Product summary11.2.4. Recent developments11.3. Medtronic11.3.1. Company details11.3.2. Financial outlook11.3.3. Product summary11.3.4. Recent developments11.4. Novo Nordisk11.4.1. Company details11.4.2. Financial outlook11.4.3. Product summary11.4.4. Recent developments11.5. Sanofi11.5.1. Company details11.5.2. Financial outlook11.5.3. Product summary11.5.4. Recent developments11.6. Wockhardt11.6.1. Company details11.6.2. Financial outlook11.6.3. Product summary11.6.4. Recent developments11.7. Others
12. List of Abbreviations
13. Reference Links
14. Conclusion
15. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Europe Insulin Pens Market is projected to reach USD 2.29 Billion by 2033, growing at a CAGR of 2.1% during the forecast period.
Europe Insulin Pens Market size from 2022. The Market is expected to reach USD 2.29 Billion by 2033, at a CAGR of 2.1% during the forecast period.
Europe Insulin Pens Market CAGR of 2.1% during the forecast period.
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Europe Insulin Pens Market size is 2.29 Billion from 2024 to 2033.
Europe Insulin Pens Market Segment is covered By Offering, By Deployment, By End User-
The Europe is anticipated to have the highest market share in the Europe Insulin Pens Market.
The key players in the market include Companies Covered Biocon, Eli Lilly, Medtronic, Novo Nordisk, Sanofi, Wockhardt, Others.
Furthermore, the growing elderly population, rising prevalence of diabetes type 2 condition, and the introduction of new products by leading market players.
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