Published by mark itwired
Posted on October 12, 2021
4 min readLast updated: January 29, 2026
The insulin pens market is set to grow at a 4.4% CAGR, reaching $46.9 billion by 2031, driven by innovations in diabetes management.
According to Future Market Insights (FMI), the demand for insulin pens is expected to rise considerably in the coming decade, enabling the market to surpass a valuation of US$ 30,407.5 Mn by the end of 2021.
Insulin pens are used by diabetes patients to avoid problems including cardiovascular diseases that may arise from this lifestyle-based ailment. To overcome problems related to conventional methods of insulin administration, insulin pens make the process easier and faster.
According to the WHO, approximately 1.2 million deaths were caused due to diabetes in 2019 globally. To reduce the number of deaths or sufferings due to diabetes, the development of innovative techniques and products for the treatment and maintenance of diabetes is essential.
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Type 2 diabetes cases are common, but it can be prevented or delayed by a healthy diet, consistent physical activity, maintaining a standard body weight and avoiding the use of tobacco. Diabetes can be treated or managed with medicines and regular checking and treatment. Increasing focus on innovative medical products and research are increasingly driving a transition towards insulin pen by diabetes patients.
Leading manufacturers in the insulin pen market are strengthening their market position through collaborations with various health and research organizations. Governments in developed and developing countries are actively taking initiatives to encourage innovative medical products.
For instance, in November 2020, Medtronic introduced CGM integrated smart insulin delivery pen to manage multiple daily dosage insulin injections. Similarly, Insulet expanded its offering of OmipodDASH into additional countries such as Sweden, Finland, Norway, and Denmark.
Insulin Pen Market
Key Takeaways from Insulin Pen Services Market Study
Who is Winning?
The global insulin pen market is set to expand due to the rising prevalence of type 1 and type 2 diabetes. Leading organizations within the market are set to focus on research and development to offer an early and precise diagnosis of the ailment, besides offering effective patient care.
Some of the leading players in the insulin pen market include but are not limited to NovoNordisk A/S, Sanofi, Eli Lilly, Diamesco Co., Ltd., BigFoot Biomedical, Inc, Medtronic plc, Emperra GmbH E-Health Technologies, YpsoMed AG, and DUKADA Aps.
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Why Future Market Insights?
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Ground breaking research and market player-centric solutions for the upcoming decade according to the present market scenario
About FMI:
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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The post Insulin Pens Market is Rising at a Healthy CAGR of 4.4% to reach US$ 46,906.4 Million between 2021-2031 appeared first on Industry News Analsis.
The article discusses the growth of the insulin pens market, projected to reach $46.9 billion by 2031.
The market is growing due to innovations in diabetes management and increased demand for convenient insulin delivery methods.
Key players include NovoNordisk, Sanofi, Eli Lilly, Medtronic, and others focusing on diabetes care innovations.
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