Global Diabetes Pen Market Analysis

Diabetes Pen Market Overview

Diabetes Pen Market Size was valued at USD 26.78 Billion in 2023. The Global Diabetes Pen industry is projected to grow from USD 28.045 Billion in 2024 to USD 49.67 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.45% during the forecast period (2024 - 2032).

The pens are mostly available in two forms. One form is the reusable pen, and the other is disposable insulin pens. The disposable pens are the prefilled insulin and are preferred by almost all people for insulin infusion. The diabetes pen needles are thinner and shorter than other forms of syringes. The diabetes pens should not be shared with anybody except the patient itself as there is a risk of transmission of diseases like hepatitis B. the market has more potential for growth due to the large base of an aging population and the continuous rise of diabetes patients. Diabetes occurs due to the pancreas' less secretion of insulin in the body. It is a major chronic disease globally, as many people suffer from this. The cartridges and pens are available in several different types and sizes for the patients' suitability.

Covid-19 analysis 

The pandemic has affected several business sectors and made them suffer. Many markets are trying to cope with the situation and will grow as the situation gets better with time. Due to COVID 19, the Diabetes Pen Market Size decreased as the virus spread more focus was on the pandemic, and less number of production of the medicines impacted the market. The manufacturing companies were also at a halt, due to which many medical needs were also stopped, which impacted the market negatively. However, the market is gaining its position with the improvement of the situation and will experience more growth rate in the upcoming period.

Embecta Corp. opened its new global headquarters office at 300 Kimball Drive, Suite 300, IN Parsippany, N.J., in the year 2023. To develop and offer solutions that improve the lives of those with diabetes, it is anticipated that the site will house members of the leadership team, global support functions as well as North American commercial organization.

In the year 2023, Eli Lilly announced price cuts by 70% for their most commonly prescribed insulins and an extension of its Insulin Value Program which now ensures patient out-of-pocket price does not exceed USD 35 per month. In addition to this a $35 monthly cap on patients’ out-of-pocket costs for insulin-related drugs has been added to Eli Lilly’s Insulin Value Program aimed at broadening the coverage to include more patients. It is positioned to assure that people with diabetes can buy their needed insulin without going bankrupt since it has instituted a maximum amount they will pay out every month on top of the often overpriced rates associated with treating high blood sugar levels.

The first ever smart insulin pens, NovoPen 6 and NovoPen Echo Plus were launched by Novo Nordisk in the UK in 2023.

Finally, in November 2022, Eli Lilly was expected to start rolling out the Tempo Personalized Diabetes Management Platform. The platform comprises three main components: Tempo Smart Button is a compatible app called TempoSmart pre-filled insulin pen – these work together to provide personalized assistance for adults living with diabetes.

By October- November 2022, Novo Nordisk had completed the acquisition of Forma Therapeutics Corporation.

Sanofi and Innate Pharma extended their collaboration into the natural killer cell therapeutics area for oncology in December 2022.

Bigfoot Biomedical received FDA clearance for a smart insulin pen cap that can help people with diabetes know how much insulin to inject based on their blood sugar levels in May 2022.

Diabetes Pen Market Trends

• Key drivers

The increasing prevalence of diabetes has risen, leading to a rise in demand for Diabetes pens. Diabetes pens are injected with the expanding need for insulin pens for patients suffering from diabetes. The continuous technological advancement of various diseases and the manufacturers creating new research for the improvement of the market is driving the market. The formation of new strategies to create new and advanced instruments for diabetic patients are the key market driver of the Diabetes Pen. The changing lifestyle in millennials and the young generation, which is also adopted by the older generation, affects the young and older people. Due to the bad food habits like high intake of carbohydrates and sugar-containing foods are major factors for the Diabetes Pen Market Growth. Bad food habits also lead to obesity, and several other diseases, including diabetes, are propelling the market.

• Market challenges

Several market changes impact the market, and it has to overcome them to hold growth and global space. Limitation in the diabetic pen is a challenge for the key players and the manufacturers, impacting the Diabetes Pen Market Value.

• Market opportunities

Many companies are forming new strategies to improve the needle length, forming new market opportunities. Diabetes pens with thin and short lengths would be easier for overweight patients. The increasing awareness for needle stick injuries is forming ample opportunities for the market. Diabetes management by the patients and therapies for better disease management and the adaptation of connected medical devices increase the Diabetes Pen Market Share.

• Market restraints

The availability of different other insulin pens is hindering the market from growth. The limitation in the Diabetes Pen and the competition's availability of other new technology is a restraining factor for the market. The strict rules by the government of several countries for the new product development are also pulling the market downward. People getting aware of the health conditions and adaptation to healthier lifestyles will restrain the market in the forecast period. The safety issues in the Diabetes Pen are pulling the market for a slow growth rate.

Cumulative Evaluation Of The Market  

The cumulative evaluation of the market different factors that are impacting the market to become successful. Factors that are impacting negatively are also impacting the market. Key drivers and opportunities positively impact the market of Diabetes Pen, and it is expected that it will remain the same and multiply in the forecast period. Restrains and challenges show the factors that hinder the market, and the market players must take a strong note about the factors. COVID has impacted the market negatively as the manufacturing industries were halted due to pandemics. The market is again gaining the growth pace and will showcase foster shortly.

Diabetes Pen Market Segment Insights

The market for Diabetes Pen is classified into product, usage and distribution channel. The segments are boosting the market, and due to all the segments, the market will register high CAGR.

Diabetes Pen Product Insights

Based on the product, the market is analyzed into Insulin Pens And Insulin Pen Needle. The pen needle segment dominates the Diabetes Pen Market Trends in the forecast period. The segment is dominating due to the ease of the products. People undergoing dexterity problems and taking large daily doses are also boosting the market. It also helps to minimize the injuries that happen due to the needlestick. Another segment will also be growing significantly.

Diabetes Pen Usage Insights

The market segment usage of the Diabetes Pen is bifurcated into Reusable Pens And Disposable Pens. The reusable variable holds the largest CAGR due to the growing demand for diabetic patients and increasing awareness about the self-administration of insulin. The cost-effectiveness of reusable insulins is also fostering the market growth.

Diabetes Pen Distribution Channels Insights

Based on the distribution channel segment, the market of Diabetes Pen variables are Hospital Pharmacy, Retail Pharmacy, Online Sales, And Diabetes Clinics. The retail pharmacy segments dominate the market and are expected to grow at the same growth rate. The factors associated with it are the growing retail industry and wide adoption in emerging economies is driving the market growth. The Diabetes Pen Market Analysis shows that the other segment is growing slowly and will increase in size in the future.

Diabetes Pen Market Regional Insights

The Diabetes Pen Market Outlook is analyzed in North America, Asia Pacific, Europe and other parts of the world. North America is dominating the market due to the large diabetic population, and a better reimbursement policy for the management of diseases will drive the market in the region. The pen usage is more in the U.K., increasing market growth. The improvement in the healthcare sector, growth in the healthcare expenditure and awareness among people in Asia pacific region make region show significant growth in the forecast period. Most people face obesity, which is a risk factor for diabetes, propelling the market of Diabetes Pen.

Diabetes Pen Market Key Players

Several key players are investing in the market and profit from it. The competitive landscape is increasing with time as people acquire newer and better products that can develop market value. The prominent market players are: 

• AstraZeneca in the U.K


• Teruma Medical Corporation in Japan


• Greinier Bio One International GmBH in U.S.


• F. Hoffman La Roche AG in Switzerland


• Becton, Dickinson and Company in the U.S.


• Bayer Cropscience Ltd. in Germany 


• HTL STREFA SA in Poland

Recent development  

• For the first time in NHS in Scotland, a smart insulin injection pen allows people with type one diabetes to easily manage their condition more efficiently.


• The U.K. diabetes patients will soon receive smart insulin pens that will enable them to self-administer insulin record dosing information and other functions.

Report Overview 

The report provides recent and future developments of the market. It shows if the market will showcase growth shortly. Several methodologies and research are used in this report to captivate information on the market. The market report of the Diabetes Pen involves analysis, validation, strategies that will propel the market. Several market factors involved, such as drivers, restraints, and challenges that boost the market. It also shows COVID impact, recent development and prominent key players of several regions who are uplifting the value involves analysis, validation, strategies that will propel the market. Diabetes Pen Market Forecast depicts that the market will hold a high CAGR in the forecast period.

Diabetes Pen Market segmentation 

Diabetes Pen Product Outlook

• Insulin Pens 


• Insulin Pen Needle

Diabetes Pen Usage Outlook

• Reusable Pens 


• Disposable Pens

Diabetes Pen Distribution Channels Outlook

• Hospital Pharmacy


• Retail Pharmacy


• Online Sales


• Diabetes Clinics