North America Insulin Syringe Market Size
| Study Period | 2018 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 255.03 Million |
| Market Size (2029) | USD 277.47 Million |
| CAGR (2024 - 2029) | 1.70 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
North America Insulin Syringe Market Analysis
The North America Insulin Syringe Market size is estimated at USD 255.03 million in 2024, and is expected to reach USD 277.47 million by 2029, growing at a CAGR of 1.7% during the forecast period (2024-2029).
The COVID-19 pandemic has substantially impacted the North America Insulin Syringe Market. People with diabetes have 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 diabetes care devices have taken care during COVID-19 to deliver the diabetes care devices to diabetes patients with the help of local governments. Doctors around the world suggested diabetes patients should monitor and manage their blood glucose levels more often which leads to an increase in the usage of insulin syringes.
Diabetes is associated with many health complications. Comparing the population with and without diabetes, those with diabetes have a 300% increased risk of being hospitalized and thus incur more healthcare expenses compared to non-diabetic people. Patients with Type 2 diabetes require many corrections throughout the day for maintaining nominal blood glucose levels, such as the administration of additional insulin or ingestion of additional carbohydrates.
Furthermore, patients attempting to control their blood glucose levels tightly to prevent the long-term complications associated with fluctuations in blood glucose levels are at greater risk for overcorrection and the resultant hypoglycemia. Achieving nominal results can be very difficult without multiple daily injections of insulin or insulin pump therapy.
Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period.
North America Insulin Syringe Market Trends
Rising diabetes prevalence
The diabetes population in the North American region is expected to rise by more than 1% over the forecast period.
The Centers for Disease Control and Prevention (CDC) National Diabetes Statistics Report 2022 estimated that more than 130 million adults are living with diabetes or prediabetes in the United States. Type 2 diabetes is more common, and diabetes is more consequential among communities of color, those who live in rural areas, and those with less education, lower incomes, and lower health literacy.
According to Diabetes Canada, new 2022 figures show the continued rising trend of diabetes rates in Canada with no signs of leveling or decreasing. Diabetes continues to affect more Canadians than ever before. The new diabetes figures show a steady, continued increase in diabetes in the country, with 11.7 million Canadians living with diabetes or prediabetes. More than 5.7 million Canadians are living with diagnosed diabetes, and people living with diabetes or prediabetes, which, if left unmanaged, can develop into type 2 diabetes.
According to the Division of Metabolism and Endocrinology Products in the FDA's Center for Drug Evaluation and Research, 'Patients want effective treatment options for diabetes that are as minimally intrusive on their lives as possible, and the FDA welcomes the advancement of new therapeutic options that can make it easier for patients to control their condition.' The frequency of insulin administration varies from patient to patient. Type-1 diabetic patients must check their blood glucose levels regularly, monitor their blood glucose levels, and adjust the insulin dosing accordingly.
Therefore, owing to the rising diabetes prevalence, the market studied is anticipated to grow over the analysis period.
The United States holds the highest market share in the North America Insulin Syringe Market in the current year
The United States holds the highest market share of more than 74% in the current year in the North America Insulin Syringe Market.
An estimated 1.4 million Americans are diagnosed with diabetes every year, according to the American Diabetes Association. The disease's growing incidence, prevalence, and progressive nature encouraged treatment options for diabetic patients. The ADA also helps with the costs of insulin and diabetes medication. Medicare drug plans cover insulin not used in an insulin pump and other drugs necessary to treat diabetes. In addition to providing prescription drug coverage, Medicare Part D plans may cover supplies necessary to inject insulin, including syringes, needles, alcohol swabs, and gauze.
The World Health Assembly Resolution recommends the integration of prevention and treatment of diabetes into primary health services, developing pathways for a substantial increase in access to insulin, promoting convergence and harmonizing regulatory requirements for diabetes medicines and technologies, and improving diabetes monitoring and surveillance. Furthermore, it involves the WHO advising the Member States to ensure the uninterrupted treatment of people living with diabetes in humanitarian emergencies. This important milestone provides a global mandate for diabetes efforts for the next decade.
The roll-out of many new products, increasing international research collaborations in technology advancement, and increasing awareness about diabetes among people are some market opportunities for the players.
North America Insulin Syringe Industry Overview
The North American Insulin Syringe Market is fragmented and driven by constant innovations by manufacturers such as Becton Dickinson, Cardinal Health, and Ultimed Inc. It resorts to inorganic market strategies, such as mergers and acquisitions, to establish market dominance while also adhering to organic growth strategies, which is evident from the R&D spending of these companies.
North America Insulin Syringe Market Leaders
-
Becton Dickinson
-
Cardinal Health Inc.
-
Trividia Health Inc.
-
Arkray Inc.
-
Ultimed Inc.
*Disclaimer: Major Players sorted in no particular order
North America Insulin Syringe Market News
- Decmber 2023: FDA advises against using plastic syringes made in China amid reports of quality failures. Officials began the investigation after receiving information about quality issues associated with 鈥渟everal Chinese manufacturers of syringes.鈥�
- October 2022: Becton, Dickinson, and Company and Biocorp signed an agreement to use connected technology to track adherence to self-administered drug therapies, like biologics. To support biopharmaceutical companies in their efforts to improve the adherence and outcomes of injectable drugs, the two companies will integrate Biocorp's Injay technology. It is a solution designed to capture and transmit injection events using Near Field Communication technology to the BD UltraSafe Plus Passive Needle Guard used with pre-fillable syringes.
North America Insulin Syringe Market Report - Table of Contents
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 Insulin Syringe
5.2 Geography
5.2.1 United States
5.2.2 Canada
5.2.3 Rest of North America
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 Becton Dickinson
7.1.2 Cardinal Health
7.1.3 Trividia Health
7.1.4 Arkray
7.1.5 Ultimed
- *List Not Exhaustive
7.2 Company Share Analysis
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
North America Insulin Syringe Industry Segmentation
Insulin syringes are used for self-injection and are available in multiple sizes to help deliver different insulin doses. The North America Insulin Syringe Market is segmented into Geography. The North America Insulin Syringe Market is segmented into geography. The report offers the value (in USD) and volume (in units) for the above segments.
| Geography | |
| United States | |
| Canada | |
| Rest of North America |
North America Insulin Syringe Market Research FAQs
How big is the North America Insulin Syringe Market?
The North America Insulin Syringe Market size is expected to reach USD 255.03 million in 2024 and grow at a CAGR of 1.7% to reach USD 277.47 million by 2029.
What is the current North America Insulin Syringe Market size?
In 2024, the North America Insulin Syringe Market size is expected to reach USD 255.03 million.
Who are the key players in North America Insulin Syringe Market?
Becton Dickinson, Cardinal Health Inc., Trividia Health Inc., Arkray Inc. and Ultimed Inc. are the major companies operating in the North America Insulin Syringe Market.
What years does this North America Insulin Syringe Market cover, and what was the market size in 2023?
In 2023, the North America Insulin Syringe Market size was estimated at USD 250.69 million. The report covers the North America Insulin Syringe Market historical market size for years: 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the North America Insulin Syringe Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
North America Insulin Syringe Industry Report
Statistics for the 2024 North America Insulin Syringe market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. North America Insulin Syringe analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
