Global Diabetes Injection Pens Market: Growing Number of Insulin Syringe Needle Stick Injury Cases Date: 03-08-2017 08:45 PM CET Category: Health & Medicine Press release from: Transparency Market Research - Pharmaceutical
Diabetes Injection Pens Market: Snapshot The global diabetes injection pens market has expanding at a remarkable pace over the years owing to the soaring number of diabetics around the world and a consequent rise in awareness about this disease and its management. The development of smart insulin pen technology products such as pen caps connected with mobile apps has also significantly propelled this market. In addition to this, the preference for insulin pens over syringes has greatly increased owing to the rising incidence of needlestick injuries. The opportunity in the global diabetes injection pens market was pegged at US$4.9 bn in 2015 and is expected to be worth US$9.7 bn by 2024. If these values hold true, the market is poised to expand at a healthy CAGR of 7.9% during the forecast period. Download Exclusive Brochure of This Report : www.transparencymarketresearch.com/sample/sample.php?flag... Insulin Pens Gain Preference over Pen Needles Insulin pens and pen needles are the two major product types in the diabetes injection pens market. Among these, insulin pens garnered the larger share, accounting for just over 65.0% in 2015. Europe and Asia are among the leading consumers of insulin pens, where 90.0% of the diabetic population prefer these devices to pen needles. Although the U.S. lagged behind in the usage of insulin pens in the past, the country is likely to gain prominence in the coming years owing to the many benefits these devices offer. Pen needles also generate significant revenue; although these products are lower in cost, they are sold in large numbers among the diabetic population. Based on distribution channel, diabetes injection pens are sold via retail pharmacies, hospital pharmacies, online methods, and
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