Global Smart Insulin Pens
Market Report
2024
Delivery Includes:- Market Timeline 2019 till 2031, Market Size, Revenue/Volume Share, Forecast and CAGR, Competitor Analysis, Regional Analysis, Country Analysis, Segment Analysis, Market Trends, Drivers, Opportunities, Restraints, ESG Analysis, Porters Analysis, PESTEL Analysis, Market Attractiveness, Patent Analysis, Technological Trend, SWOT Analysis, COVID-19 Analysis, Consumer Behavior Analysis, etc.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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The global smart insulin pens market was valued at USD 104.3 million in 2022 and is projected to reach USD 245.7 million by 2030, registering a CAGR of 11.3% for the forecast period 2023-2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Smart Insulin Pens Market Sales Revenue 2020 | $ 93.72 Million |
Global Smart Insulin Pens Market Sales Revenue 2030 | $ 256.94 Million |
Global Smart Insulin Pens Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 11.86% |
Market Split by Type |
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Market Split by Usability |
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Market Split by Product |
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Market Split by Connectivity Type |
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Market Split by Indication |
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Market Split by End User |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Report scope is customizable as we have a huge database of Smart Insulin Pens industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Smart Insulin Pens Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Smart insulin pens are advanced medical tools made to assist persons with diabetes in better managing their insulin therapy. Although they are comparable to conventional insulin pens, they include extra features that make them "smarter" and easier to use. This device calculates and tracks doses and provides helpful reminders, alerts, and reports to the users. The majority of smart insulin pens contain a display screen that shows users how much insulin they are injecting, as well as alerts for when to take insulin and other crucial information.
They frequently also have the capacity to send and retain data, enabling patients and their medical professionals to track and keep track of how much insulin is being used over time. Some intelligent insulin pens can even establish a connection with smartphone applications, enabling users to monitor their insulin usage as well as other health indicators including blood sugar levels and food intake. This can be especially helpful for people with diabetes who need to monitor their blood sugar levels and adjust their insulin doses accordingly.
There are several factors that have contributed to the increasing prevalence of diabetes. One of the main factors responsible for the increasing diabetes cases is the global rise in obesity rates, which is closely linked to unhealthy diets and sedentary lifestyles. In addition, other factors that have been identified include an aging population, urbanization, and changes in environmental factors such as air pollution. For instance, according to the U.S. Department of Health & Human Services, about 37.3 million people or 11.3% of the US population had diabetes (diagnosed or undiagnosed) in 2019.
Diabetes patients need constant monitoring of their insulin levels. Timely administration of insulin in these patients is necessary. Further, the record management of diabetes patients can be time-consuming and laborious it necessitates extensive data gathering and processing. As a result, the use of smart insulin pens is increased as all the processes like dose amount, dose timing, insulin quality, and reminders are performed in this device.
Although the technologically advanced features of smart insulin pens, the presence of alternative products such as traditional insulin pens, and insulin syringes can hamper the growth of the market. The availability of alternative products may increase competition in the market, which could lead to pricing pressures and reduced demand for smart insulin pens. In addition, the cost of alternative products is less than the smart insulin pens, which can hamper the growth of the market.
The global pandemic f COVID-19 has impacted both positively and negatively impacted the smart insulin pens market. Some studies show that patients with diabetes were more likely to have chances of COVID-19 infection. As result, there was an increase in demand for smart insulin pens in the initial stages of the lockdown. But due to stringent rules regarding lockdown, the supply of devices was temporarily halted, as raw material supply and other resources were not available. But, later, with the upturn of raw materials and other resources, the market for smart insulin pens again picked up momentum. On the hand, as time passed, the demand for home healthcare devices or solutions increased which enhanced the demand for smart insulin pens.
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May 2021
Lilly collaborated internationally with leading diabetes technology companies to integrate connected insulin pen solutions for people with diabetes
Eli Lilly and Company signed strategic international agreements with four companies, DexCom, Inc., Glooko Inc., myDiabby Healthcare, and Roche, to advance connected solutions and streamline care for people living with diabetes in markets outside of the United States.
March 2022
Novo Nordisk launched first smart connected insulin pens in the UK
Novo Nordisk announced that it is launching two smart connected insulin pens, NovoPen 6 and NovoPen Echo Plus. These pens are available on prescription for people living with diabetes treated with Novo Nordisk insulin in the UK.
November 2020
Medtronic launched a connected smart insulin pen gained in the Companion Medical deal
Medtronic plc has announced the launch of InPen integrated with real-time Guardian Connect CGM data. InPen is the first and only FDA-cleared smart insulin pen on the market for people on multiple daily injections (MDI).
Top Companies Market Share in Smart Insulin Pens Industry: (In no particular order of Rank)
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North America holds the largest market share of the smart insulin pens market, owing to the quick adoption of advanced medical technologies, the rising prevalence of diabetes in different countries, growing healthcare expenditure, and increasing demand for connected medical devices in this region. According to WHO, between 2000 and 2019, there was a 3% increase in diabetes mortality rates by age., and in 2019, diabetes and kidney disease due to diabetes caused an estimated 2 million deaths.
The Asia Pacific is estimated to grow at the highest Compound Annual Growth Rate during the projection period of 2023-2030. This growth is attributed to the, increasing awareness about smart insulin pens, the increasing importance of the diagnostic healthcare sector, and ongoing marketing campaigns for use of Smart Insulin pens. However, the growing population of diabetic patients continues to fuel the growth of smart insulin pens.
The current report Scope analyzes Smart Insulin Pens Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only. To learn more about geographical trends request the free sample pages. Contact US!
Global Smart Insulin Pens Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Smart Insulin Pens Industry growth. Smart Insulin Pens market has been segmented with the help of its Type, Usability Product, and others. Smart Insulin Pens market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Based on present and future trends, the market size is estimated from 2019 to 2031. Moreover, study also provides quantitative and qualitative analysis of each type to understand the driving factors for the fastest growing type segment for Smart Insulin Pens market.
Type of Smart Insulin Pens analyzed in this report are as follows:
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Smart Insulin Pens Industry. Request a Free Sample PDF!
The reusable smart insulin pens segment dominated the market in 2020. This growth is attributed to its cost-effectiveness and environmental friendliness. Reusable smart insulin pens are more environmentally friendly than prefilled pens, which generate more waste. On the other hand, prefilled insulin pens can be more costly, as they can be used only one time. Reusable smart insulin pens are generally more cost-effective in the long run than prefilled insulin pens, as patients only need to purchase a reusable pen once and can use it for multiple doses. In contrast, prefilled pens must be replaced after each use, which can cost more than reusable ones.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Smart Insulin Pens market report 2024 Edition by contacting our team.
Research Associate at Cognitive Market Research
Anushka Gore is a seasoned market researcher specializing in the dynamic landscape of the Pharmaceutical industry. With a keen analytical mind and a deep passion for healthcare advancements, she has dedicated herself unraveling the intricate market trends and consumer behaviors that shape the future of medical technologies and services.
Anushka is a highly motivated and detail-oriented research analyst with a passion for uncovering valuable insights from data. Her expertise in Market Research and business intelligence has equipped her with the skills necessary to analyze complex information and provide strategic recommendations. She thrives in dynamic environments where her analytical abilities and research expertise can contribute to informed decision-making for businesses
I played a pivotal role in conducting market research and competitive analysis. I have a demonstrated ability to synthesize diverse data sources, identify trends, and translate findings into actionable recommendations. My collaborative approach facilitated effective communication of insights, fostering a data-driven culture within the organization. I am committed to maintaining excellence through continuous learning and staying ahead of industry trends. Regular participation in conferences and professional development opportunities keeps my skills sharp and relevant.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Smart Insulin Pens Market is witnessing significant growth in the near future.
In 2023, the Second Generation Pens segment accounted for noticeable share of global Smart Insulin Pens Market and is projected to experience significant growth in the near future.
The Reusable segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Jiangsu Deflu Medical Device Co. Ltd. , Medtronic plc and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Disclaimer:
Type | Second Generation Pens, First Generation Pens |
Usability | Reusable, Prefilled |
Product | Adaptors for Conventional Pen, Smart Insulin Pen |
Connectivity Type | Bluetooth, USB |
Indication | Type 1 Diabetes, Type 2 Diabetes |
End User | Ambulatory Surgical Centers, Hospitals and Clinics, Home Care Settings |
List of Competitors | Jiangsu Deflu Medical Device Co. Ltd., Emperra GmbH, Medtronic plc, Pendiq, Novo Nordisk, Berlin-Chemie, Sanofi, Bigfoot Biomedical, Eli Lilly and Company, Digital Medics Pty Ltd. And others. |
This chapter will help you gain GLOBAL Market Analysis of Smart Insulin Pens. Further deep in this chapter, you will be able to review Global Smart Insulin Pens Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
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Qualitative Analysis for the North America Market: North America Smart Insulin Pens Market Trends North America Smart Insulin Pens Technological Road Map North America Smart Insulin Pens Market Drivers North America Smart Insulin Pens Market Restraints North America Smart Insulin Pens Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
You can purchase only the Executive Summary North America Market (2019 vs 2024 vs 2031)
Chapter 3 Europe Market Analysis
You can purchase only the Executive Summary Europe Market (2019 vs 2024 vs 2031)
Chapter 4 Asia-Pacific Market Analysis
You can purchase only the Executive Summary Asia Pacific Market (2019 vs 2024 vs 2031)
Chapter 5 South America Market Analysis
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Chapter 6 Middle East and Africa Market Analysis
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Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2019 -2031
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Chapter 11 Market Split by Usability Analysis 2019 -2031
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Chapter 12 Market Split by Product Analysis 2019 -2031
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Chapter 13 Market Split by Connectivity Type Analysis 2019 -2031
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Chapter 14 Market Split by Indication Analysis 2019 -2031
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Chapter 15 Market Split by End User Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Smart Insulin Pens market
Chapter 16 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Second Generation Pens have a significant impact on Smart Insulin Pens market? |
What are the key factors affecting the Second Generation Pens and First Generation Pens of Smart Insulin Pens Market? |
What is the CAGR/Growth Rate of Reusable during the forecast period? |
By type, which segment accounted for largest share of the global Smart Insulin Pens Market? |
Which region is expected to dominate the global Smart Insulin Pens Market within the forecast period? |
Segmentation Level Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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