APAC Insulin Syringe Market Size
| Study Period | 2018 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 1.04 Billion |
| Market Size (2029) | USD 1.08 Billion |
| CAGR (2024 - 2029) | 0.85 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
APAC Insulin Syringe Market Analysis
The Asia-Pacific Insulin Syringe Market size is estimated at USD 1.04 billion in 2024, and is expected to reach USD 1.08 billion by 2029, growing at a CAGR of 0.85% during the forecast period (2024-2029).
The demand for insulin syringes in the Asia-Pacific region is experiencing a notable increase, mainly due to the rising prevalence of diabetes. As the number of individuals with diabetes continues to rise, there is a growing requirement for efficient insulin delivery systems, which in turn is fueling the market for insulin syringes in the region. This article delves into the factors that are contributing to the expansion of the Asia-Pacific insulin syringe market amidst the escalating diabetes epidemic.
The Asia-Pacific region is currently facing a significant health issue with the emergence of diabetes. This problem is prevalent in countries such as China, India, Japan, and others. The rise in diabetes cases can be attributed to various factors including sedentary lifestyles, unhealthy eating habits, and genetic predisposition. The International Diabetes Federation (IDF) reports that the Asia-Pacific region has the highest number of individuals living with diabetes, making up a considerable portion of the global diabetic population.
The prevalence of diabetes in the region has led to a strong need for insulin delivery systems, such as syringes. Insulin injections are vital for managing diabetes, particularly for those with type 1 diabetes and some individuals with type 2 diabetes who rely on insulin therapy. Insulin syringes are essential for accurately administering insulin, guaranteeing the correct dosage and successful glycemic control.
Diabetes poses an emerging healthcare burden across the region. 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.
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.
Owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period.
APAC Insulin Syringe Market Trends
Rising diabetes prevalence
Diabetes is associated with many health complications. Patients with diabetes require many corrections throughout the day for maintaining normal blood glucose levels, such as oral anti-diabetic medication, insulin administration, or the ingestion of additional carbohydrates by monitoring their blood glucose levels.
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.
Moreover, the increasing adoption of insulin-delivery devices and the rising prevalence of diabetes are driving market growth. Leading manufacturers are focusing on technological innovations and the development of advanced products to gain a substantial share of the market.
Therefore, owing to the aforementioned factors, the studied market is anticipated to witness growth over the analysis period.
India is expected to dominate the Asia-Pacific Insulin Syringe Market over the forecast period
Nearly 10% of India's population is likely to be affected by diabetes over the forecast period. Obesity, especially central obesity, increased visceral fat due to physical inactivity, and consumption of high-calorie, high-fat, and high-sugar diets are the major contributing factors to diabetes in Indians. The most prominent work culture perpetuated in the country, which includes sitting for hours in one position and eating fast food with little or no physical activity, is a significant contributor to diabetes in the working-age group, causing this rapid increase in diabetes cases in India.
Authorities and healthcare institutions in India are placing a growing emphasis on the significance of managing and preventing diabetes. Efforts to increase awareness about diabetes, encourage healthy lifestyle decisions, and guarantee access to crucial diabetes care supplies such as insulin syringes are being rolled out in different regions. Furthermore, continuous enhancements in healthcare facilities and availability are bolstering the expansion of the insulin syringe market in the nation.
According to the Ministry of Health and Family Welfare of the Government of India, in 2022, out of all deaths in India, 60% were related to non-communicable diseases like diabetes, cardiovascular diseases, cancer, chronic respiratory diseases, etc. To prevent and control major NCDs, the National Program for Prevention and Control of Cancer, Diabetes, Cardiovascular Diseases, and Stroke (NPCDCS) has been launched. This program includes medical education, health awareness in schools, and urban planning for diabetes.
Such factors have contributed to the rise in the adoption of these products in the Indian market.
APAC Insulin Syringe Industry Overview
The Asia-Pacific insulin syringe market is fragmented and has been driven by constant innovations by manufacturers, such as Becton Dickinson, Terumo Corporation, and HMD Healthcare Ltd. etc. which resort 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.
APAC Insulin Syringe Market Leaders
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Becton and Dickinson
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Terumo Corporation
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Nipro Corporation
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HMD Healthcare Ltd.
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Cardinal Health Inc.
*Disclaimer: Major Players sorted in no particular order
APAC Insulin Syringe Market News
- November 2023: Terumo India has launched a new insulin syringe designed specifically for patients who need to administer daily insulin injections to manage their diabetes. This sterile delivery device not only ensures patient comfort but also promotes therapy compliance, setting a higher standard in diabetes care.
- October, 2022: Becton, Dickinson, and Company and Biocorp announced that they 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 are expected to integrate Biocorp's Injay technology-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.
APAC 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 Australia
5.2.2 China
5.2.3 India
5.2.4 Japan
5.2.5 Indonesia
5.2.6 Malaysia
5.2.7 Philippines
5.2.8 Vietnam
5.2.9 South Korea
5.2.10 Thailand
5.2.11 Rest of Asia-Pacific
6. MARKET INDICATORS
6.1 Type-1 and Type-2 Diabetes Population
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Becton Dickinson
7.1.2 Terumo Corporation
7.1.3 Nipro Corporation
7.1.4 HMD Healthcare Ltd.
7.1.5 Cardinal Health
- *List Not Exhaustive
7.2 Company Share Analysis
7.2.1 Becton Dickinson
7.2.2 Terumo Corporation
7.2.3 Other Company Share Analyses
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
APAC Insulin Syringe Industry Segmentation
Insulin syringes are used for self-injection and are available in multiple sizes to help deliver different doses of insulin. The Asia-Pacific insulin syringe market is segmented by geography. The report offers the value (in USD) and volume (in units) for the above segments.
| Geography | |
| Australia | |
| China | |
| India | |
| Japan | |
| Indonesia | |
| Malaysia | |
| Philippines | |
| Vietnam | |
| South Korea | |
| Thailand | |
| Rest of Asia-Pacific |
APAC Insulin Syringe Market Research FAQs
How big is the Asia-Pacific Insulin Syringe Market?
The Asia-Pacific Insulin Syringe Market size is expected to reach USD 1.04 billion in 2024 and grow at a CAGR of 0.85% to reach USD 1.08 billion by 2029.
What is the current Asia-Pacific Insulin Syringe Market size?
In 2024, the Asia-Pacific Insulin Syringe Market size is expected to reach USD 1.04 billion.
Who are the key players in Asia-Pacific Insulin Syringe Market?
Becton and Dickinson, Terumo Corporation, Nipro Corporation, HMD Healthcare Ltd. and Cardinal Health Inc. are the major companies operating in the Asia-Pacific Insulin Syringe Market.
What years does this Asia-Pacific Insulin Syringe Market cover, and what was the market size in 2023?
In 2023, the Asia-Pacific Insulin Syringe Market size was estimated at USD 1.03 billion. The report covers the Asia-Pacific Insulin Syringe Market historical market size for years: 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Insulin Syringe Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Asia-Pacific Insulin Syringe Industry Report
The Asia-Pacific Insulin Syringe Market is segmented by geography, including regions such as Australia, China, India, Japan, Indonesia, Malaysia, Philippines, Vietnam, South Korea, Thailand, and the rest of Asia-Pacific. This market overview offers valuable insights into the market size and market share within these regions. The industry analysis provided in the report includes a detailed market forecast and market trends that highlight the anticipated market growth. The market research also delves into the market segmentation and market value, providing a comprehensive market review.
Industry reports and industry research are essential for understanding the industry's outlook and industry statistics, which are crucial for market leaders and research companies. The report example and report PDF are available for a deeper dive into the industry information and industry sales. The market data presented in the report is crucial for understanding the market predictions and market outlook, ensuring a thorough market analysis.
The industry trends and industry size are discussed in detail, offering a complete picture of the market's dynamics. The market forecast and market growth rate are key components of the market review, providing insights into future market conditions. The market leaders and their strategies are highlighted, giving a clear view of the competitive landscape. The report PDF download is available for those who need a detailed understanding of the market value and market segmentation.
Overall, the report provides a holistic view of the Asia-Pacific Insulin Syringe Market, covering all aspects from market data to market predictions, ensuring that stakeholders have all the necessary information to make informed decisions.
