Dublin, Oct. 11, 2022 (GLOBE NEWSWIRE) -- The "Smart Insulin Pens Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global smart insulin pens market size reached US$ 103.86 Million in 2021. Looking forward, the publisher expects the market to reach US$ 214.05 Million by 2027, exhibiting a CAGR of 12.81% during 2021-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
A smart insulin pen is a reusable injector pen with a smartphone app that facilitates patients with diabetes in managing their insulin delivery efficiently. It is more affordable, easy to use, and provides helpful reminders, alerts, and reports compared to conventional insulin. It helps calculate doses of the blood sugar level, carbohydrate amounts, meal size, and active insulin. In addition, it notifies the expiration date or exceeding the temperature range of insulin to replace the cartridge timely. As a result, smart insulin pen finds extensive applications in hospitals, clinics, ambulatory surgical centers, and home care units across the globe.
Smart Insulin Pens Market Trends:
At present, the growing awareness among the masses about the benefits of smart insulin pens, such as delivering accurate half-unit doses, preventing skipped or missed doses, and tracking time and number of doses, represents one of the key factors driving the market. Besides this, there is a rise in the prevalence of diabetes due to the increasing obesity and geriatric population across the globe. This, along with the burgeoning healthcare industry, is strengthening the growth of the market.
In addition, key market players are extensively investing in research and development (R&D) activities to introduce smart insulin pens with memory and timing function that provides intelligent injection for patients. They are also focusing on developing Bluetooth-connected smart insulin pens. Moreover, there is an increase in the adoption of home treatment as it is more comfortable, convenient, and personalized. This, coupled with the escalating demand for needle-free insulin delivery devices due to the rising needle stick injuries while using, handling, disassembling, or disposing of needles, is bolstering the growth of the market.
Key Market Segmentation
Breakup by Type:
- First Generation Pens
- Second Generation Pens
Breakup by Usability:
- Prefilled
- Reusable
Breakup by Indication:
- Type 1 Diabetes
- Type 2 Diabetes
Breakup by Connectivity:
- Bluetooth
- USB
Breakup by End User:
- Hospitals and Clinics
- Ambulatory Surgical Centers
- Home Care Settings
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Key Questions Answered in This Report:
- How has the global smart insulin pens market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global smart insulin pens market?
- What are the key regional markets?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the usability?
- What is the breakup of the market based on the indication?
- What is the breakup of the market based on the connectivity?
- What is the breakup of the market based on the end user?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global smart insulin pens market and who are the key players?
- What is the degree of competition in the industry?
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
5 Global Smart Insulin Pens Market
6 Market Breakup by Type
7 Market Breakup by Usability
8 Market Breakup by Indication
9 Market Breakup by Connectivity
10 Market Breakup by End User
11 Market Breakup by Region
12 SWOT Analysis
13 Value Chain Analysis
14 Porters Five Forces Analysis
15 Price Analysis
16 Competitive Landscape
Companies Mentioned
- Bigfoot Biomedical Inc.
- Digital Medics Pty Ltd.
- Emperra GmbH E-Health Technologies
- Jiangsu Delfu Medical Device Co. Ltd.
- Medtronic plc
- Novo Nordisk A/S
- pendiq GmbH
- Ypsomed AG.
For more information about this report visit https://www.researchandmarkets.com/r/c6tuls
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