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Report
MEA Insulin Pens - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2018 - 2029
Market Report I 2024-02-17 I 90 Pages I Mordor Intelligence
The MEA Insulin Pens Market size is estimated at USD 1.02 billion in 2024, and is expected to reach USD 1.13 billion by 2029, growing at a CAGR of 2.19% during the forecast period (2024-2029).
The COVID-19 pandemic has substantially impacted the Middle East and Africa 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 insulin devices 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.
Insulin cartridges in reusable pens are an upgraded version of insulin vials. Most types of insulins are manufactured in the form of cartridges, making them easily accessible. These devices have all the functional benefits of reusable pens and are cost-effective, as these cartridges are less expensive compared to disposable insulin pens in the long run. Due to the increasing demand for insulin cartridges, most insulin device manufacturing companies have produced reusable insulin pens that are compatible with various insulin manufacturers' cartridges. These insulin cartridges are considered more consumer-friendly, as they are smaller and less noticeable than the classic vial-and-syringe. These devices are also more portable for consumers on the go. Cartridges that are open do not need to be refrigerated, making storage very easy for consumers.
Technological advancements have increased over the period in Insulin delivery devices for safer and more accurate administration of insulin. Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period.
Middle East and Africa Insulin Pens Market Trends
Increasing diabetes prevalence
The diabetes population in the Middle East and African region is expected to rise by more than 3.5% over the forecast period.
The Middle East and African region has witnessed an alarming increase in the prevalence of diabetes in recent years. The rate of newly diagnosed Type-1 and Type-2 diabetes cases is seen to increase, mainly due to obesity, an unhealthy diet, and physical inactivity. According to IDF 2021 reports, 73 million adults are living with diabetes in the IDF MENA Region. This figure is estimated to increase to 95 million by 2030. 48 million adults in the IDF MENA Region live with impaired glucose tolerance, which places them at increased risk of developing type 2 diabetes. The rapidly increasing incidence and prevalence of diabetic patients and healthcare expenditure are indications of the increasing usage of diabetes products.
Governments in the Middle East have identified the threat of diabetes and started to respond with various policies, initiatives, and programs. Six out of 15 countries in this region still do not have a national operational action policy for diabetes. Many countries still do not have a national strategy to reduce overweight, obesity, and physical inactivity, which are important risk factors for diabetes. Most counties have fully implemented national diabetes treatment guidelines. However, constant measures are being taken to minimize diabetic complications; therefore, owing to the aforesaid factors, the growth of the studied market is anticipated in the Middle East and African region.
Saudi Arabia holds the highest market share in the Middle East and Africa Insulin Pens Market in the current year
Saudi Arabia held the largest share in the insulin pen market in the Middle East and African region in the current year and is expected to register a CAGR of over 1.8% over the forecast period.
More than one in ten people in Saudi Arabia is living with diabetes, and the prevalence of the disease will almost double by 2045, according to the IDF 2021 report. The IDF report mentioned that 4.27 million people in Saudi Arabia, which has a population of about 34.8 million, have diabetes, while a further 1.86 million have the disease but are yet to be diagnosed. The rise in the number of people with diabetes is driven by a complex interplay of socio-economic, demographic, environmental, and genetic factors. Key contributors include urbanization, an aging population, decreasing levels of physical activity, and increased levels of overweight and obesity.
In July 2022, the Saudi Government announced that Saudi Arabia saw growing demand for quality healthcare services spurred by changes, including an increasing and aging population and a growing prevalence of lifestyle diseases such as diabetes and obesity. The government and private sector are both involved in working on healthcare entities, certifications, and regulations. The government is taking steps to have 100 percent of Saudi citizens covered by insurance and is working towards ensuring affordability, access, and quality digital healthcare and primary care with cost-effectiveness.
Therefore, owing to the aforesaid factors, the growth of the studied market is anticipated in the Middle East and Africa region.
Middle East and Africa Insulin Pens Industry Overview
The Middle East and Africa insulin pens market is consolidated in nature due to the presence of only a few major companies operating globally as well as regionally, namely Novo Nordisk, Sanofi, Eli Lilly and Company, Julphar, etc., among others.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
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 Saudi Arabia
5.2.2 Iran
5.2.3 Egypt
5.2.4 Oman
5.2.5 South Africa
5.2.6 Rest of Middle East and Africa
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 Wockhardt
7.1.6 Julphar
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
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