Smart Insulin Pens Market Revenue, Business Growth, Demand, and Applications by 2026

Smart Insulin Pens Market

Smart insulin pens are smart devices that are used externally to inject insulin to patients with an easy-to-use medium. These devices are further added with features, such as recording data, time, date, and dosage of insulin injected by a patient, which enables efficient diabetes management. Continuous efforts towards the advancement of technologies to manage diabetes have led to the emergence of smart insulin pens. These devices help both patients and health care professionals to overcome technical problems, such as poor insulin adherence, incorrect insulin dosage, and medication errors.

The Major Players Covered in this Report:
Novo Nordisk A/S
Sanofi
Eli Lilly and Company
Companion Medical
Emperra GmbH E-Health Technologies
Diabnext
Ypsomed Holding AG
Digital Medics Pty Ltd.
Jiangsu Delfu medical device Co.Ltd
BERLIN-CHEMIE
Patients Pending Ltd. (Bigfoot Biomedical Inc.) 

The smart insulin pens market was valued at USD 73.8 million in 2019 and is expected to grow with a CAGR of 10.8%.

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By Product
Smart Insulin Pen
Adaptors for Conventional Pen

By Usability
Disposable Pen
Reusable Pen

By Application
Type 1 Diabetes
Type 2 Diabetes

By Mode of Distribution
Hospital Pharmacy
Retail Pharmacy
Diabetic Clinics
E-commerce

Rising Prevalence of Diabetes across the Globe 

The world is burdened with the growing diabetic population, where diagnosed people are spread across all regions. For instance, the International Diabetes Federation (IDF) in Diabetes Atlas Ninth edition 2019 reported that roughly 463 million adults across the globe were suffering from diabetes in 2019. This number is expected to reach 700 million patients by the year 2045. In 2019, as per the International Diabetes Federation (IDF), over 1.1 million people in the lower age group were diagnosed with type 1 diabetes. Medically, the management of diabetes requires timely intervention and routine medication that are prescribed throughout the lifetime.

Regional Analysis For Smart Insulin Pens Market:

North America (United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

In this study, the years considered to estimate the market size of the Smart Insulin Pens are as follows:

History Year: 2014-2019
Base Year: 2019
Estimated Year: 2020
Forecast Year 2021 to 2026

The study objectives of this report are:

To study and forecast the market size of the Smart Insulin Pens in the global market.
To analyze the global key players, SWOT analysis, value, and global market share for top players.
To define, describe and forecast the market by type, end-use, and region.
To analyze and compare the market status and forecast among global major regions.
 Analyze the potential of the global market and the advantages, opportunities and challenges, constraints, and risks of key regions.
Identify the key trends and factors that are driving or holding back market growth.
To analyze the opportunities in the market for stakeholders by identifying the high-growth segments.
Strategic analysis of each submarket in light of individual growth trends and market contributions.
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
Complete analysis of the strategic strategy and growth of key players

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