Smart Insulin Pens Market 2020 Enhancements and Demand Analysis – Medical, Eli Lilly and Company, Novo Nordisk A/S, Diamesco Co. Ltd

Smart Insulin Pens Global Market Report 2020-30: Covid 19 Growth and Change

The report will make detailed analysis mainly on in-depth research on the development environment, Market size, development trend, operation situation and future development trend of Smart Insulin Pens Market on the basis of stating current situation of the industry in 2020.

This is a latest report, covering the current COVID-19 impact on the market. The pandemic of Coronavirus (COVID-19) has affected every aspect of life globally. This has brought along several changes in market conditions. The rapidly changing market scenario and initial and future assessment of the impact is covered in the report. It offers critical information pertaining to the current and future growth of the market.

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Major players in the smart insulin pens market are Companion Medical, Eli Lilly and Company, Novo Nordisk A/S, Diamesco Co. Ltd., Emperra GmbH E-Health Technologies, Digital Medics Pvt Ltd., F. Hoffmann-La Roche AG, Insulet Corporation, Jiangsu Delfu medical device Co. Ltd., and Bigfoot biomedica.

The global smart insulin pens market is expected to grow from $75.8 million in 2019 and to $77 million in 2020 at a growth rate of 1.6%. The slow growth is due to disruption in supply chains and restrictions on trade of medical products across countries owing to the COVID-19 outbreak. The market is then expected to grow and reach $98.4 million in 2023 at CAGR of 8.51%.

Market Segmentation by Types:

1) By Type: First Generation Pens; Second Generation Pens (Bluetooth Enabled, USD Connected)
2) By End User: Hospitals & Clinics; Ambulatory Surgical Centres; Home Care Settings
3) By Usability: Prefilled; Reusable
4) By Application: Type 1 Diabetes; Type

The smart insulin pens market consists of sales of smart insulin pens which allows to dial the insulin dose accurately and related products. The companies manufacturing the smart insulin pens are primarily engaged in designing and manufacturing of first- and second-generation smart insulin pens which are either reusable or pre-filled for the application of delivering accurate insulin dose in Type 1 Diabetes and Type 2 Diabetes. The revenue generated by these companies is through sales of these pens to Hospitals & Clinics, Ambulatory surgical centres and Home care settings.

In February 2020, Senseonics a US-based medical technology company which primarily focuses on the design, development and commercialization of glucose monitoring products announced partnership with Companion Medical. The partnership will benefit both the companies by integrating Eversense CGM System with the InPen smart system for accurate insulin delivery. Companion Medical is a US-based company which aims at achieving desirable diabetes outcomes and manufactured InPen which is the US first FDA approved insulin pen.

The Main objectives of this report are:

• To analyze global Smart Insulin Pens status, future forecast, growth opportunity, key market and key players.
• To present the Smart Insulin Pens development in United States, Europe and China.
• To strategically profile the key players and comprehensively analyze their development plan and strategies.
• To define, describe and forecast the market by product type, market and key regions.

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Diabetics may be prescribed with two types of insulin for better control over blood glucose levels. They usually prefer a pre-mixed insulin (combination) or a method in which the insulin doses could be mixed and once puncture is necessary to deliver the different types of insulin doses required. Multiple punctures for the insulin delivery can lead to poor adherence of the medication which in turn results in poor glycemic control. In 2018, a study published states that poor glycemic control (A1c>7%) was reported in 68% of respondents and there was an association between A1c >7% and poor adherence levels. Dislike towards injection to a large extent and needle phobia can result in poor adherence levels. It is estimated that over 10% of population have needle phobia. These factors can reduce the adherence of smart insulin pens where two types of insulin can't be mixed and results in multiple needle punctures which thereby effect the purpose of the insulin being administered which is expected to hinder the market growth.

The next generation smart insulin pens go far beyond memory storage. They help in calculating personalized doses, track glucose continuously and connects with apps of smartphones to visualize the data. In 2019, Novo Nordisk and Abbott partnered to integrate insulin dose data into the digital health tools which aims at connecting key technologies such as continuous glucose monitoring and insulin pens thus simplifying diabetes management. The NovoPen 6 and the NovoPen Echo Plus pens will be able to connect to the Dexcom G6 CGM and the Diasend diabetes management platform (Glooko). In 2019, Companion Medical announced that the Bluetooth-enabled InPen which takes away the guesswork from dosing of insulin with an in-app bolus calculator that uses precise carbohydrate ratios and correction factors and calculates the personalized insulin doses. This enhances the ease of usage of smart insulin pens which is expected to boost the market.

The research includes historic data from 2015 to 2020 and forecasts until 2026 which makes the report’s an invaluable resource for industry executives, Marketing, Sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

Table of Contents: -

1. Global Smart Insulin Pens Market Overview
2. Global Smart Insulin Pens Market Competitions by Manufacturers
3. Global Smart Insulin Pens Capacities, Production, Revenue (Value) by Region
4. Global Smart Insulin Pens Supply (Production), Consumption, Export, Import by Region
5. Global Smart Insulin Pens Productions, Revenue (Value), Price Trend by Type
6. Global Smart Insulin Pens Market Analyses by Application
7. Global Smart Insulin Pens Manufacturers Profiles/Analysis
8. Smart Insulin Pens Manufacturing Cost Analysis
9. Industrial Chain, Sourcing Strategy and Downstream Buyers
10. Marketing Strategy Analyses, Distributors/Traders
11. Market Effect Factors Analysis
12. Global Smart Insulin Pens Market Forecast
13. Research Findings and Conclusion
14. Appendixes

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