Smart Insulin Pens Market Technological Advancements and Latest Trends 2019: Comprehensive Research on Strong Growth Opportunities and Demand Analysis
Smart Insulin Pens Market are medical devices used to inject the insulin in patients’ body. Smart insulin pens are less painful and more effective than other drug delivery devices.
According to the International Diabetic Federation, about 415 million people across the globe were reported to have diabetes in 2015 and this number is expected to reach 642 million by 2040. It also stated that 98.4 million and 65.1 million diabetic population lived in China and India respectively.
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Global Smart Insulin Pens Market Accounted for USD 60 Million And Is Expected to Register A 10.4% CAGR During the Forecast Period (2018–2023).
Global Smart Insulin Pens Market Information by Product Type (First Generation Pens & Others), Usability (Disposable Pens & Others), and Distribution Channel (Online Medical Stores, Retail Pharmacies, Hospital Pharmacies, & Others)–Global Forecast till 2023
Some of the key players in the global smart insulin pens market are
- Sanofi-Aventis US LLC.
- Lilly Novo Nordisk A/S
- USA, LLC
- Digital Medics Pty Ltd.
- Companion Medical
- Emperra GmbH E-Health Technologies
- Biocorp, Diamesco Co., Ltd.
- Smiths Medical
- NIPRO Medical Corporation
- and InjexUK.
The global smart insulin pens market has been segmented on the basis of product type, usability, and distribution channel.
The product type segment has been classified as first-generation pens and second-generation pens. The second-generation pens segment has been further divided into Bluetooth-enabled and USB connected.
The market, by usability, has been segmented into disposable pens and reusable pens. Reusable insulin pens segment is likely to be the fastest growing segment during the forecast period.
The distribution channel, the market has been divided into online medical stores, retail pharmacies, diabetes clinics, and hospital pharmacies.
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Intended Audience: Insulin pen manufacturers, Insulin pen distributors and suppliers, Healthcare providers, Medical device manufacturers, Research institutes and academic centers, Contract research organizations (CROs), Government associations and Market research and consulting.
The Americas are likely to dominate the global smart insulin pens market due to the increasing prevalence of diabetes, favorable policies government and regulatory policies, and high adoption rate of advanced technology.
The European market is expected to be the second-largest smart insulin pens market. The growing acceptance of advanced drug delivery devices, the presence of major market players in the region, and rising diabetic population in the region are the factors responsible for the growth of the smart insulin pens market in the region.
Asia-Pacific is anticipated to be the fastest-growing smart insulin pens market during the forecast period owing to the increase in population, rising prevalence of diabetes, and government initiatives for the development of the healthcare sector.
The market in the Middle East & Africa is likely to account for the smallest share of the global smart insulin pens market.
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