The Smart Insulin Pens by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Smart Insulin Pens, The smart insulin pens market size has grown strongly in recent years. It will grow from $0.1 billion in 2023 to $0.1 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to increase in diabetes prevalence, strong economic growth in emerging markets, increased geriatric population, increased healthcare expenditure and public health insurance reforms.
The smart insulin pens market size is expected to see strong growth in the next few years. It will grow to $0.13 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to increase in disease burden, government initiatives and technological enhancements . Major trends in the forecast period include collaborating with technology companies, smart insulin delivery devices, new types of insulin delivery, integrating internet of things and increasing mergers and acquisitions.
An accurate dose of insulin can be achieved than a vial or a syringe with an insulin pen. For kids who need to take insulin during school time and visually impaired diabetic patients, an accurate dose of insulin can even be pre-set over the dosage dial which helps inaccurate delivery of dose at the time of injection. Echo Plus by Novo Nordisk which is a pediatric-friendly insulin pen allows even half-unit dosing with a maximum of 30 units. HumaPen Luxura HD from Lilly allows the delivery of insulin in half-unit increments and NovoPen Junior - Insulin Pen by Novo Nordisk can deliver highly accurate doses of insulin and finely adjusts small doses even half-unit increments. The accurate adjustments and delivery of doses of insulin can avoid either over-dosing or low-dosing of the drug which is expected to increase the demand for smart insulin pens and drive the smart insulin pens market growth.
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The smart insulin pens market covered in this report is segmented –
1) By Type: First Generation Pens, Second Generation Pens
2) By Usability: Prefilled, Reusable
3) By Application: Type 1 Diabetes, Type 2 Diabetes
4) By End User: Hospitals & Clinics, Ambulatory Surgical Centres, Home Care Settings
The next generation of smart insulin pens goes far beyond memory storage. They help in calculating personalized doses, track glucose continuously, and connect with apps of smartphones to visualize the data. In April 2021, Biocorp and Roche Diabetes Care France launched the Mallya smart insulin pen device in France. The Mallya smart insulin pen device is designed to enhance the daily routines of diabetes patients by gathering and storing vital treatment data, including insulin units, injection dates, and times. The collected data is seamlessly transmitted to a dedicated mobile app, offering both patients and healthcare professionals convenient access for real-time monitoring and management.
The smart insulin pens market report table of contents includes:
- Executive Summary
- Smart Insulin Pens Market Characteristics
- Smart Insulin Pens Market Trends And Strategies
- Smart Insulin Pens Market - Macro Economic Scenario
- Global Smart Insulin Pens Market Size and Growth
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- Global Smart Insulin Pens Market Competitive Benchmarking
- Global Smart Insulin Pens Market Competitive Dashboard
- Key Mergers And Acquisitions In The Smart Insulin Pens Market
- Smart Insulin Pens Market Future Outlook and Potential Analysis
- Appendix
Top 5 Major Key Players Are:
- Companion Medical
- Novo Nordisk A/S
- Hoffmann-La Roche AG
- Emperra GmbH E-Health Technologies
- Diamesco Co. Ltd
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Smart Insulin Pens Market By Product Type (Smart Pen and Connecting Device), End-User (Hospital/Retail pharmacies and Online) - Forecast till 2027Smart insulin pens are devices used to deliver the accurate dose of insulin to diabetics at the appropriate time.
The global smart insulin pens market report by Market Research Future (MRFR) contains the pertinent drivers and challenges faced by manufacturers during the period of 2018 to 2023.Market OverviewThe global smart insulin pens market is expected to exhibit 10.4% CAGR during the forecast period (2018-2023) due to high prevalence of diabetes.
Furthermore, the use of these devices for the management of diabetes by the general populace in developing countries can bode well for the market during the forecast period.
Awareness of advanced drug delivery methods, need for modern treatments, and the alarming cases of diabetes can bolster the global market demand till 2023.The surge in the adoption rate of glucose monitoring devices, awareness of these devices, and integration of glucose measurement devices are other drivers of the market.
Co-pay assistance and medical reimbursement policies covering the purveying of these devices can ensure the continuous sales.Unfavorable reimbursement policies, risks associated with insulin pens, and increasing costs of insulin pens are challenges faced by the market.Request Free Sample Copy at: https://www.marketresearchfuture.com/sample_request/6789 SegmentationThe global smart insulin pens market has been segmented on the basis of product type, usability, and distribution channel.On the basis of product type, the market has been segmented into first-generation pens and second-generation pens.
Reusable insulin pens segment is likely to be the fastest growing segment during the forecast period.The market, by distribution channel, has been segmented into retail pharmacies, diabetes clinics, online medical stores, and hospital pharmacies.Regional AnalysisThe Middle East & Africa (MEA), Americas, Asia Pacific (APAC), and Europe are regions discussed in the global smart insulin pens market report.The Americas can be the leading region of the global market till 2023 due to favorable policies by regulatory authorities, adoption of advanced technology, and rising prevalence of diabetes among the general populace.
Transparency Market Research (TMR) has published a new report titled, “Smart Insulin Pens Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027”.
Smart insulin pens have additional features such as memory function, time and dose recorder, and data transfer.
However, availability of alternatives for insulin delivery is anticipated to restrain the global market.The report offers detailed segmentation of the global smart insulin pens market based on product, connectivity type, application, and distribution channel.
Expansion of the smart insulin pens segment is attributed to technological advancements such as memory function and accurate dose administration.Request Customization on Smart Insulin Pens Market Report – https://www.transparencymarketresearch.com/sample/sample.php?flag=CR_id=35705 Technological advancements in smart insulin pen to propel marketEmerging technologies in smart insulin pens are projected to boost the global smart insulin pens market during the forecast period.
These include Novo Nordisk A/S, Sanofi (sanofi-aventis US LLC), Eli Lilly and Company, Companion Medical, Emperra GmbH E-Health Technologies, Diabnext, Jiangsu Delfu medical device Co.,Ltd, BERLIN-CHEMIE, DIAMESCO CO., Ltd., and Patients Pending Ltd (Bigfoot Biomedical Inc.).
This product approval enabled the company to strengthen its digital diabetes products portfolio in the U.S.
