Smart Insulin Pen Market - The second generation pens segment is expected to register the highest CAGR of 12.3%
Smart insulin pens are used to supply insulin to diabetics. Increased demand for autosamplers, increased prevalence of diabetes, and accuracy of insulin doses are expected to drive market growth. However, failure to use a smart insulin pen in patients who need to mix two types of insulin limits market growth.
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The major companies profiled in the report are
• Eli Lilly and Company
• Novo Nordisk
• Companion Medical
• Emperra GmbH.
The first-generation pen is expected to dominate the market throughout the analysis period. However, the second-generation pen division is expected to record a CAGR of 12.3% a year.
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Key Findings of the Smart Insulin Pens Market:
• The first generation pens is projected to grow at the CAGR of 9.7% during the forecast period.
• USB connected pens is projected to register the highest growth rate of 12.7% during the forecast period.
• Bluetooth-enabled pens segment accounted nearly two-thirds share of the global second generation smart insulin pens market in 2016.
• Home care settings is expected to grow at the highest CAGR of 10.9% during the forecast period.
• France and Germany collectively contributed for more than one-third share of the European smart insulin pens market in 2016.
• Japan was the major shareholder in 2016, accounting for more than one-third share of the Asia-Pacific smart insulin pens market.
Asia-Pacific is projected to register the highest CAGR of 12.0%, owing to rise in incidence of diabetes coupled with rising geriatric population. In addition, surge in awareness of benefits of smart insulin pens, such as it is beneficial for people with vision problems, offers a lucrative opportunity for the market growth.
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