North America Insulin Pens Market Size
| 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
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
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 Market Trends
Insulin cartridges in reusable pens are expected to witness significant growth over the forecast period
Insulin cartridges in reusable pens hold the highest share in the North American insulin pens market in the current year.
Most insulins are easily accessible as they are manufactured in the form of cartridges. Cartridges are cost-effective, compared to disposable insulin pens in the long run. Most insulin device manufacturing companies produce reusable insulin pens that are compatible with various insulin manufacturers' cartridges. These insulin cartridges are consumer-friendly, as they are smaller and less noticeable compared to classic vial-and-syringes and are more portable for consumers. Open cartridges do not need to be refrigerated, making storage easy for consumers.
The North American region has witnessed an alarming increase in the prevalence of diabetes in recent years. In developed countries, such as the United States and Canada, the rate of diabetes is at an all-time high, mainly due to lifestyle changes. According to the Division of Metabolism and Endocrinology Products in the FDA's Center for Drug Evaluation and Research, "Patients want effective treatment options for diabetes that are as minimally intrusive on their lives as possible, and the FDA welcomes the advancement of new therapeutic options that can make it easier for patients to control their condition".
According to Diabetes Canada, new 2022 figures showed the continued rising trend of diabetes rates in Canada with no signs of leveling or decreasing. Diabetes continues to affect more Canadians than ever before. The new diabetes figures show a steady, continued increase in diabetes in the country, with 11.7 million Canadians living with diabetes or prediabetes; more than 5.7 million Canadians are living with diagnosed diabetes (type-1 or type-2 diabetes).
Therefore, owing to the rising prevalence of diabetes and improved patient compliance, the insulin cartridges in reusable pens segment is anticipated to witness growth over the analysis period.
The United States holds the highest market share in the North America Insulin Pens Market in the current year
The United States held the highest market share in the North American insulin pen market in the current year and is expected to register a CAGR of about 5% over the forecast period.
An estimated 1.4 million Americans are diagnosed with diabetes every year, according to the American Diabetes Association. Diabetes is one of the leading causes of death in Canada and other North American countries. The growing incidence, prevalence, and progressive nature of the disease have encouraged treatment options for diabetic patients. The ADA also helps with the costs of insulin and diabetes medication. Medicare drug plans cover insulin not used in an insulin pump and other drugs necessary to treat diabetes. In addition to providing prescription drug coverage, Medicare Part D plans may cover supplies necessary to inject insulin, including syringes, needles, alcohol swabs, and gauze.
The World Health Assembly Resolution 2022 recommended the integration of prevention and treatment of diabetes into primary health services, the development of pathways for a substantial increase in access to insulin, the promotion of convergence and harmonization of regulatory requirements for diabetes medicines and technologies, and improved diabetes monitoring and surveillance. Furthermore, it involves the WHO advising the Member States to ensure the uninterrupted treatment of people living with diabetes in humanitarian emergencies. This important milestone provides a global mandate for diabetes efforts for the next decade.
The roll-out of many new products, increasing international research collaborations in technological advancement, and increasing awareness about diabetes among people are some of the market opportunities for the players in the market.
North America Insulin Pens Industry Overview
The North American insulin pens market is moderately consolidated in nature due to the presence of a few major companies operating globally as well as regionally namely Novo Nordisk, Sanofi, Eli Lilly and Company, Biocon, etc. among others.
North America Insulin Pens Market Leaders
Novo Nordisk
Eli Lilly
Biocon
Sanofi
Medtronic
*Disclaimer: Major Players sorted in no particular order
North America Insulin Pens Market News
- March 2023: Novo Nordisk announced that the company would drop prices for vials and pens of NovoLog and other insulin brands by 75 percent beginning January 1, 2024, in the United States. There is expected to be a 65 percent price reduction for some of the other Novo Nordisk insulin brands.
- June 2022: Cequr, the leader in wearable diabetes technology, released its newest and most innovative insulin delivery device yet, the Insulin Pen 2.0TM. The pen was small enough to always be worn on the user's body, and it also featured a built-in blood glucose meter so that users could track their blood sugar throughout the day. The insulin pen also had an integrated injection system that did not require any manual pumping or priming to inject insulin into the body, making it much easier and faster to administer than other types of insulin pumps currently on the market.
North America Insulin Pens Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Product
5.1.1 Disposable Insulin Pens
5.1.2 Cartridges in Reusable Pens
5.2 Geography
5.2.1 Canada
5.2.2 United States
5.2.3 Rest of North America
6. MARKET INDICATORS
6.1 Type-1 Diabetes Population
6.2 Type-2 Diabetes Population
7. COMPETITIVE LANDSCAPE
7.1 COMPANY PROFILES
7.1.1 Novo Nordisk
7.1.2 Sanofi
7.1.3 Eli Lilly
7.1.4 Biocon
7.1.5 Medtronic
7.1.6 Wockhardt
7.1.7 Cequr
- *List Not Exhaustive
7.2 COMPANY SHARE ANALYSIS
7.2.1 Novo Nordisk
7.2.2 Sanofi
7.2.3 Eli Lilly
7.2.4 Other Company Share Analyses
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
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 |
North America Insulin Pens Market Research FAQs
How big is the North America Insulin Pens Market?
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.
What is the current North America Insulin Pens Market size?
In 2024, the North America Insulin Pens Market size is expected to reach USD 11.99 billion.
Who are the key players in North America Insulin Pens Market?
Novo Nordisk, Eli Lilly, Biocon, Sanofi and Medtronic are the major companies operating in the North America Insulin Pens Market.
What years does this North America Insulin Pens Market cover, and what was the market size in 2023?
In 2023, the North America Insulin Pens Market size was estimated at USD 11.41 billion. The report covers the North America Insulin Pens Market historical market size for years: 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the North America Insulin Pens Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
North America Insulin Pens Industry Report
Statistics for the 2024 North America Insulin Pens market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. North America Insulin Pens analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
