Smart Insulin Pens Market Global Trends, Market Share, Industry Size, Growth, Opportunities

Global Smart Insulin Pens Market is estimated to value over USD 113 million by 2026 end and register a CAGR of over 10.5% during the forecast period 2019 to 2026.

The insistence for the smart insulin pens has considerably increased over the past few years owing to the increase in the prevalence of patients diagnosed with diabetes along with their cost-effectiveness in comparison with insulin pumps. Additionally, their accurate insulin dosing and simplified functioning further boost their demand. Although, there are certain issues in using insulin pens, for instance, two different types of insulin cannot be mixed in one insulin pen, therefore increasing the number of injections needed. This, in turn, restrains the smart insulin pens market growth.

North America held a major smart insulin pens market share in 2018. The North American market is primarily steered by the adoption of novel technologies and the presence of major players in the region. Moreover, a rise in the number of incidences associated with diabetes and approving and launching of new products shall possible accelerate the market growth in North America.

As per the National Diabetes Statistics Report 2017, an estimated 30 million people had diabetes in 2016. As per the Canadian Chronic Disease Surveillance System (CCDSS), there were around 2.9 million people in Canada who were diagnosed with diabetes between 2014 and 2015. The European market is steered by the rise in the occurrence of diabetes. As per the survey conducted by the International Diabetes Federation (IDF), over 350 million people were on the borderline of getting type 2 diabetes in the European region.

Key market players included in the global smart insulin pens industry are Novo Nordisk, Sanofi, Eli Lilly and Co., Companion Medical, Emperra GmbH E-Health Technologies, Diabnext, Jiangsu Delfu Medical Device Co. Ltd., Berlin Chemie, Diamesco Co. Ltd., Patients Pending Ltd.

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Global Smart Insulin Pens Market Segmentation:

By Product

• Smart Insulin Pen
• Adaptors for Conventional Pen

By Connectivity

• Bluetooth
• USB

By Diabetes Type

• Type 1 Diabetes
• Type 2 Diabetes

By Distribution Channel

• Hospital Pharmacy
• Online Sales
• Retail Pharmacy
• Diabetes Clinics/Centres

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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FutureWise Key Takeaways:

• Growth prospects
• SWOT analysis
• Key trends
• Key data-points affecting market growth

Objectives of the Study:

• To provide with an exhaustive analysis on the global smart insulin pens market by product, by connectivity, by diabetes type, by distribution channel and by region
• To cater comprehensive information on factors impacting market growth (drivers, restraints, industry-specific restraints and opportunities)
• To forecast and evaluate micro-markets and the overall market
• To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific, Latin America and Middle East & Africa
• To record, evaluate and analyse competitive landscape mapping- technological advancements, product launches, expansions and mergers

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About FutureWise Research: We specialise in high-growth niche markets, assuring flexibility, agility and customised solutions for our clients.