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Illuminating the Future: Smart Lighting Industry Overview 2024
Smart Insulin Pens Market Industry
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According to The Business Research Company's, The smart insulin pens market size has grown strongly in recent years. It will grow from $0.1 billion in 2023 to $0.1 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to increase in diabetes prevalence, strong economic growth in emerging markets, increased geriatric population, increased healthcare expenditure and public health insurance reforms.
The smart insulin pens market size is expected to see strong growth in the next few years. It will grow to $0.13 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to increase in disease burden, government initiatives and technological enhancements . Major trends in the forecast period include collaborating with technology companies, smart insulin delivery devices, new types of insulin delivery, integrating internet of things and increasing mergers and acquisitions.
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Market Drivers and Trends:
An accurate dose of insulin can be achieved than a vial or a syringe with an insulin pen. For kids who need to take insulin during school time and visually impaired diabetic patients, an accurate dose of insulin can even be pre-set over the dosage dial which helps inaccurate delivery of dose at the time of injection. Echo Plus by Novo Nordisk which is a pediatric-friendly insulin pen allows even half-unit dosing with a maximum of 30 units. HumaPen Luxura HD from Lilly allows the delivery of insulin in half-unit increments and NovoPen Junior - Insulin Pen by Novo Nordisk can deliver highly accurate doses of insulin and finely adjusts small doses even half-unit increments. The accurate adjustments and delivery of doses of insulin can avoid either over-dosing or low-dosing of the drug which is expected to increase the demand for smart insulin pens and drive the smart insulin pens market growth.
The next generation of smart insulin pens goes far beyond memory storage. They help in calculating personalized doses, track glucose continuously, and connect with apps of smartphones to visualize the data. In April 2021, Biocorp and Roche Diabetes Care France launched the Mallya smart insulin pen device in France. The Mallya smart insulin pen device is designed to enhance the daily routines of diabetes patients by gathering and storing vital treatment data, including insulin units, injection dates, and times. The collected data is seamlessly transmitted to a dedicated mobile app, offering both patients and healthcare professionals convenient access for real-time monitoring and management.
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Major Key Players of the Market:
CK Franchising Inc, 24 Hour Home Care, Home Instead Inc, SE Health, Right at Home Inc., Living Assistance Services, Synergy Home Care, Happier At Home, Senior Helping Seniors, Home Care Assistance, Yingtan Hejia Xiangyi Retirement Industry Development Co. Ltd.,, Shouyang County Xiyang Honglaonian Retirement Service Co. Ltd.,, Avalon Health Care,, Careplus, Choice Care, Care Without Compromise Ltd., SuperCarers, Caritas, Diakonie, German Red Cross and the Paritätische, AssiDom, Oxehealth, Orpea Groupe, CARP Omenia, ProMedicus Home Care Services, ABOS Care Elderly Home IASI SRL , Fushoukang (Shanghai) Medical Elderly Care Service Co. Ltd.,, BAYADA Home Health Care, Home Instead Senior Care, GreatAupair, ICare , Brookdale Senior Living Inc., Senior Care Centers of America, Sunrise Senior Living, Home Bound Healthcare , AddusHomeCare, Interim HealthCare of Lubbock, Phoenix Home Care Agenc, Manzil Health, Pioneer Medical Services LLC. , Aamer Home Healthcare Center, Greymate Care, Bluegate homecare,, AnsMed Home Care Limited
Smart Insulin Pens Market 2024 Key Insights:
• The smart insulin pens market size is expected to see strong growth in the next few years. It will grow to $0.13 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%.
• Precise Insulin Delivery With Smart Insulin Pens Enhancing Diabetes Care And Driving Market Growth
• Revolutionizing Diabetes Care With Advanced Smart Insulin Pens
• North America was the largest region in the smart insulin pens market in 2023
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