Global Smart Insulin Pens Market size is estimated to expand at a emerging CAGR of 10.4% during the forecast period from 2018 to 2023. This growth is attributable to the increasing prevalence of diabetes, coupled with increasing awareness about the availability of several advanced techniques and drugs in the market. Additionally, increasing inclination toward the adoption of advanced technology for monitoring diabetes and insulin dosage is fueling growth of the market.
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Competitive Analysis:
Some of the major companies in the global smart insulin pens market include Sanofi-Aventis US LLC., Novo Nordisk A/S, Lilly USA, LLC, Emperra GmbH E-Health Technologies, Digital Medics Pty Ltd., Companion Medical, Diamesco Co., Ltd., Biocorp, Smiths Medical, InjexUK, and NIPRO Medical Corporation.
Industry News:
In 2019, the companies – Novo Nordisk and Abbott – announced that Novo Nordisk’s connected insulin pens would be mounted with the Abbott Freestyle Libre system. This will allow Freestyle Libre users to monitor the data about their insulin along with their glucose readings.
Smart Insulin Pens Market Segmentation:
The global market has been segmented on the basis of usability, product type, distribution channel, and region.
the Smart Insulin Pens Market on the basis of product type is classified into second-generation pens and first-generation pens. Of these, the second-generation pens segment is further divided into USB connected and Bluetooth-enabled.
the Smart Insulin Pens Market on the basis of the usability is segmented into reusable pens and disposable pens. Of these, the reusable insulin pens segment is estimated to be the fastest growing segment over the assessment period.
the Smart Insulin Pens Market By distribution channel is segmented into retail pharmacies, online medical stores, hospital pharmacies, and diabetes clinics.
LIST OF TABLES
Table 1 Global Smart Insulin Pens Market Synopsis, 2018–2023
Table 2 Global Smart Insulin Pens Market Estimates and Forecast, 2018–2023 (USD Million)
Table 3 Global Smart Insulin Pens Market, By Region, 2018–2023 (USD Million)
Table 4 Global Smart Insulin Pens Market, By Product Type, 2018–2023 (USD Million)
Table 5 Global Smart Insulin Pens Market, By Usability, 2018–2023 (USD Million)
Table 6 Global Smart Insulin Pens Market, By Distribution Channel, 2018–2023 (USD Million)
Table 7 North America: Smart Insulin Pens Market, By Product Type, 2018–2023 (USD Million)
Table 8 North America: Smart Insulin Pens Market, By Usability, 2018–2023 (USD Million)
Continued…
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Regional Analysis:
Regionally, the smart insulin pens market is segmented into the Americas, Asia Pacific, Europe, and Middle East & Africa. Of these, the Americas are estimated to remain dominant in the global smart insulin pens market in the coming period. Additionally, increasing approvals by the U.S. Food and Drugs Administration (FDA) for the advanced and newer drugs and drug delivery systems are estimated to benefit the market growth in the coming years as well.
Europe is estimated to follow the region during the forecast period and account for second leading revenue share owing to the increasing physical presence of the key players in the region. For the reference, the data from World Diabetes Foundation suggested that more than 59 Million patients are having diabetes, which accounts for approximately 9.1% of the total population in the region, and this number is estimated to increase in the coming years.
However, the Asia Pacific is estimated to be the fastest-growing CAGR during the forecast period owing to the presence of several key players with newer technologies.
TABLE OF CONTENTS:
Chapter 1. Report Prologue
Chapter 2. Market Introduction
Chapter 3. Research Methodology
Chapter 4. Market Dynamics
Chapter 5. Market Factor Analysis
Chapter 6. Global Smart Insulin Pens Market, By Product Type
6.1 Introduction
6.2 First Generation Pens
Market Estimates & Forecast, By Region, 2018–2023
Market Estimates & Forecast, By Country, 2018–2023
6.3 Second Generation Pens
6.3.1 Bluetooth-Enabled
Market Estimates & Forecast, By Region, 2018–2023
Market Estimates & Forecast, By Country, 2018–2023
6.3.2 USB Connected
Market Estimates & Forecast, By Region, 2018–2023
Market Estimates & Forecast, By Country, 2018–2023
Chapter 7. Global Smart Insulin Pens Market, By Usability
7.1 Introduction
7.2 Disposable Pens
Market Estimates & Forecast, By Region, 2018–2023
Market Estimates & Forecast, By Country, 2018–2023
Continued…
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