The Asia Pacific insulin pen market is expected to reach US$ 1,703.7 Mn in 2027 from US$ 743.4 Mn in 2018. The market is estimated to grow with a CAGR of 9.8% from 2019-2027.
The growth of the market is driven by the factors such as, growing geriatric population, increasing rate of obesity and rising incidence of diabetes. However, the market is likely to get impacted due to availability of alternatives for drug delivery and limitations associated with insulin pens in the region.
Diabetes is a life-threatening chronic disease with no specialized cure. It is mainly caused by the body’s inability to produce or effectively utilize the hormone insulin. This inability prevents the body from adequately regulating blood glucose levels. There are two types of diabetes namely diabetes type-I also known as diabetes insipid us and diabetes type-II also termed as diabetes mellitus. Incidences and prevalence of diabetes is steadily increasing across the globe. Type 2 diabetes is the most prevalent form of diabetes and has increased alongside cultural and societal changes. In high-income countries up to 91% of adults with the disease have type 2 diabetes.
According to the International Diabetes Federation estimated that there were 382 million people with diabetes in 2013, a number exceeding its earlier predictions. Here, more than 60% of the people with diabetes live in Asia, with almost one-half in China and India combined. The Western Pacific is the world’s most populous region, has more than 138.2 million people with diabetes, and the number may rise to 201.8 million by 2035.
PREVALENCE OF DIABETES WORLDWIDE, 2017
|
Country |
People with Diabetes |
|
China |
114,394.82 |
|
Japan |
7,234.23 |
|
India |
72,946.39 |
Source: International Diabetes Federation
Diabetes of all types can lead to various complications in many parts of the body and can increase the overall risk of premature death. Heart attack, stroke, kidney failure, leg amputation, vision loss and nerve damage are the major complications associated with this disease.
Patients suffering from diabetes require frequent monitoring and external administration of insulin that is given through insulin pens and other medical devices. The rising prevalence of diabetes across the globe is expected to drive the growth of the insulin pens market worldwide during the forecast period.
China is expected to lead the market in the Asia Pacific region owing to highest rate of incidences for the type 2 diabetes and increasing awareness in the country. However, rise in the prevalence of the diabetes is likely to add novel opportunities in the forecast period. Therefore, considering the above mentioned factors the growth of the market in the country is likely to contribute largest share in the Asia Pacific region during the forecast period.
ASIA PACIFIC DIABETES CARE DEVICES – MARKET SEGMENTATION
By Product
By End User
By Distribution Channel
By Geography
Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2018 | US$ 743.4 Million |
| Market Size by 2027 | US$ 1,703.7 Million |
| CAGR (2019 - 2027) | 9.8% |
| Historical Data | 2016-2017 |
| Forecast period | 2019-2027 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia Pacific Insulin Pens Market is valued at US$ 743.4 Million in 2018, it is projected to reach US$ 1,703.7 Million by 2027.
As per our report Asia Pacific Insulin Pens Market, the market size is valued at US$ 743.4 Million in 2018, projecting it to reach US$ 1,703.7 Million by 2027. This translates to a CAGR of approximately 9.8% during the forecast period.
The Asia Pacific Insulin Pens Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Insulin Pens Market report:
The Asia Pacific Insulin Pens Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Insulin Pens Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Insulin Pens Market value chain can benefit from the information contained in a comprehensive market report.
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