Overview and Scope
Smart insulin pens are insulin delivery devices that keep track of the volume, time, and type of dosage. These devices may also perform tasks such as generating reports to be shared with healthcare professionals.
Sizing and Forecast
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.
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Segmentation & Regional Insights
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
North America was the largest region in the smart insulin pens market in 2023. Western Europe was the second largest region in the global smart insulin pens market share. The regions covered in the smart insulin pens market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the smart insulin pens market report are Companion Medical, Novo Nordisk A/S, F. Hoffmann-La Roche AG, Emperra GmbH E-Health Technologies, Diamesco Co. Ltd., Digital Medics Pvt Ltd., Bigfoot Biomedical, Diabnext, Insulet Corporation, Jiangsu Delfu Medical Device Co. Ltd., Sanofi India, Becton Dickinson, Roche, Biocon Ltd, Mehar healthcare, Johnson & Johnson, GE Healthcare, Covidien Healthcare, Philips Healthcare India, Shandong WeiGao Group Medical Polymer Company Limited, Yuwell medical equipment & supply Co, Terumo, NIPRO, Olympus Medical Systems, Hitachi Medico, Nihon Koden, Fukuda Denshi, Medtronic, Ypsomed Holding AG, Berlin-Chemie AG, Patients Pending Ltd, Dexcom, Ok biotech, Insujet, Eli Lilly., Abbott Laboratories, Acon Laboratories, Tandem Diabetes Care, Inc.
The smart insulin pens market report table of contents includes:
1. Executive Summary
2. Smart Insulin Pens Market Characteristics
3. Smart Insulin Pens Market Trends And Strategies
4. Smart Insulin Pens Market – Macro Economic Scenario
5. Global Smart Insulin Pens Market Size and Growth
…
32. Global Smart Insulin Pens Market Competitive Benchmarking
33. Global Smart Insulin Pens Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Smart Insulin Pens Market
35. Smart Insulin Pens Market Future Outlook and Potential Analysis
36. Appendix
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