Smart Insulin Pens Market Overview and Scope 2019 to 2029 | Novo Nordisk A/S, Sanofi, Eli Lilly and Company etc.

Smart Insulin Pens Market Size 2019 Industry Share, Strategies, Growth Analysis, Regional Demand, Revenue, and 2026 Forecast Research Report:

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%.

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 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.

Asia-Pacific is anticipated to be the most rapidly growing market for smart insulin pens on account of the growing diabetic population that requires routine administration of insulin. As per the World Health Organization (WHO), about 10% of the Chinese population suffers from diabetes and the number is expected to reach 150 million by 2040. The high prevalence of diabetes in emerging regions is also expected to aid in market growth. As per the International Diabetes Federation, the prevalence of Type 2 diabetes in Asia-Pacific is expected to increase by 150% between 2000 and 2035. Other factors that promote market growth include growing penetration of medical devices, increasing awareness regarding pen needles, and a surging number of campaigns aimed at spreading awareness.

A recent marketing research report added to the repository of 'Straits Research' is an in-depth analysis of the worldwide Smart Insulin Pens Market. On the idea of historic growth analysis and current scenario of Smart Insulin Pens marketplace, the report intends to supply actionable insights on Global market growth projections. Authenticated data presented within the report is predicated on findings of in-depth primary and secondary research. Insights are drawn from data function excellent tools that facilitate a deeper understanding of multiple aspects of the worldwide Smart Insulin Pens market.

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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.), & More...

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

View this report with a detailed description and TOC @ https://straitsresearch.com/report/smart-insulin-pens-market/toc

Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for Smart Insulin Pens in the APAC Region:
Asia-Pacific region is anticipated to hold the largest market share in the global Smart Insulin Pens market during the forecast period 2019-2029. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region. India is one of the largest producers of Smart Insulin Pens and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of Smart Insulin Pens. The favorable climatic conditions and growth of agricultural inputs and allied services like cold storage and warehousing in India are prompting higher production.

Recent Developments
In June 2019, Companion Medical partnered with Rimidi, a cloud-based medical care software solution provider, to support enable clinicians to analyze insulin dosage integrated with connected glucometers and CGMs in real-time to remotely monitor patients.

In January 2020, Bigfoot Biomedical, a startup focused on automated insulin delivery using smart insulin pens, started the Series C round with an initial budget of USD 45 million.

View Full Report @ https://straitsresearch.com/report/smart-insulin-pens-market/

The report covers exhaustive analysis on:
Overview of the parent market
Global Smart Insulin Pens Market Segments, Dynamics, Market Size, Share, Price, Volume, and Cost
Historical, current and projected market size in terms of volume and value
Global Smart Insulin Pens Market Forecast 2019 to 2026
Supply & Demand Value Chain
Global Smart Insulin Pens Market dynamics, including the current trends/drivers/threats/restraints/challenges
Potential and niche segments/regions exhibiting promising growth
Market landscape, competition, and leading companies involved
Strategies of leading companies and product offerings
Technological advancements

Key Questions Answered in the Report:

What is the current scenario of the Global Smart Insulin Pens market? How is the market going to prosper throughout the forecast period?
What are the emerging technologies and related tools that are going to profit the market?
What is the current size of the Global Smart Insulin Pens Market?
Which segments are the fastest growing and the largest in the market? What is their market potential?
What are the driving factors contributing to market growth during the short, medium, and long term?

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This release was published on openPR.