The diabetic pens market is expected to grow by USD 3.65 billion during 2021-2025, according to Technavio. The report offers a detailed analysis of the impact of the COVID-19 pandemic on the diabetic pens market in optimistic, probable, and pessimistic forecast scenarios.
The diabetic pens market will witness a negative impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio's pandemic-focused market research, market growth is likely to increase in 2021 as compared to 2020.
With the continuing spread of the coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through response, recovery, and renew phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis towards the Next Normal.
Key Considerations for Market Forecast:
Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
Pre- as well as post-COVID-19 market estimates
Quarterly impact analysis and updates on market estimates
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Major Three Diabetic Pens Market Participants:
AstraZeneca Plc: The company offers diabetic pens such as BYDUREON Pen. It is a non-insulin pen used to treat type 2 diabetes.
Becton, Dickinson and Co.: The company offers diabetic pens such as BD Vystra. It is a disposable pen used by diabetic patients.
The company offers diabetic pens such as INSUPen. INSUPen is a reusable insulin pen that can deliver insulin doses from 1 unit (0.01mL) to 60 units (0.60 mL) in increments of 1 unit.
The diabetic pens market is driven by the increasing prevalence of diabetes. In addition, the increasing demand for diabetic injection pens is expected to trigger the diabetic pens market toward witnessing a CAGR of over 8% during the forecast period.
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