The global smart insulin pens market size reached US$ 131.7 Million in 2023. Looking forward, the market is projected to reach US$ 319.5 Million by 2032, exhibiting a growth rate (CAGR) of 10.35% during 2023-2032.
A smart insulin pen is a reusable injector pen with a smartphone app that facilitates patients with diabetes in managing their insulin delivery efficiently. It is more affordable, easy to use, and provides helpful reminders, alerts, and reports compared to conventional insulin. It helps calculate doses of the blood sugar level, carbohydrate amounts, meal size, and active insulin. In addition, it notifies the expiration date or exceeding the temperature range of insulin to replace the cartridge timely. As a result, smart insulin pen finds extensive applications in hospitals, clinics, ambulatory surgical centers, and home care units across the globe.
They are also focusing on developing Bluetooth-connected smart insulin pens. Moreover, there is an increase in the adoption of home treatment as it is more comfortable, convenient, and personalized. This, coupled with the escalating demand for needle-free insulin delivery devices due to the rising needle stick injuries while using, handling, disassembling, or disposing of needles, is bolstering the growth of the market.
2. What is the expected growth rate of the global smart insulin pens market during 2024-2032?
3. What are the key factors driving the global smart insulin pens market?
4. What has been the impact of COVID-19 on the global smart insulin pens market?
5. What is the breakup of the global smart insulin pens market based on the type?
6. What is the breakup of the global smart insulin pens market based on the usability?
7. What is the breakup of the global smart insulin pens market based on the end user?
8. What are the key regions in the global smart insulin pens market?
9. Who are the key players/companies in the global smart insulin pens market?
A smart insulin pen is a reusable injector pen with a smartphone app that facilitates patients with diabetes in managing their insulin delivery efficiently. It is more affordable, easy to use, and provides helpful reminders, alerts, and reports compared to conventional insulin. It helps calculate doses of the blood sugar level, carbohydrate amounts, meal size, and active insulin. In addition, it notifies the expiration date or exceeding the temperature range of insulin to replace the cartridge timely. As a result, smart insulin pen finds extensive applications in hospitals, clinics, ambulatory surgical centers, and home care units across the globe.
Smart Insulin Pens Market Trends
At present, the growing awareness among the masses about the benefits of smart insulin pens, such as delivering accurate half-unit doses, preventing skipped or missed doses, and tracking time and number of doses, represents one of the key factors driving the market. Besides this, there is a rise in the prevalence of diabetes due to the increasing obesity and geriatric population across the globe. This, along with the burgeoning healthcare industry, is strengthening the growth of the market. In addition, key market players are extensively investing in research and development (R&D) activities to introduce smart insulin pens with memory and timing function that provides intelligent injection for patients.They are also focusing on developing Bluetooth-connected smart insulin pens. Moreover, there is an increase in the adoption of home treatment as it is more comfortable, convenient, and personalized. This, coupled with the escalating demand for needle-free insulin delivery devices due to the rising needle stick injuries while using, handling, disassembling, or disposing of needles, is bolstering the growth of the market.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global smart insulin pens market report, along with forecasts at the global, regional and country levels from 2024-2032. The report has categorized the market based on type, usability, indication, connectivity and end user.Breakup by Type:
- First Generation Pens
- Second Generation Pens
Breakup by Usability:
- Prefilled
- Reusable
Breakup by Indication:
- Type 1 Diabetes
- Type 2 Diabetes
Breakup by Connectivity:
- Bluetooth
- USB
Breakup by End User:
- Hospitals and Clinics
- Ambulatory Surgical Centers
- Home Care Settings
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players being Bigfoot Biomedical Inc., Digital Medics Pty Ltd., Emperra GmbH E-Health Technologies, Jiangsu Delfu Medical Device Co. Ltd., Medtronic plc, Novo Nordisk A/S, pendiq GmbH and Ypsomed AG.Key Questions Answered in This Report
1. What was the size of the global smart insulin pens market in 2023?2. What is the expected growth rate of the global smart insulin pens market during 2024-2032?
3. What are the key factors driving the global smart insulin pens market?
4. What has been the impact of COVID-19 on the global smart insulin pens market?
5. What is the breakup of the global smart insulin pens market based on the type?
6. What is the breakup of the global smart insulin pens market based on the usability?
7. What is the breakup of the global smart insulin pens market based on the end user?
8. What are the key regions in the global smart insulin pens market?
9. Who are the key players/companies in the global smart insulin pens market?
Table of Contents
1 Preface3 Executive Summary13 Value Chain Analysis15 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Smart Insulin Pens Market
6 Market Breakup by Type
7 Market Breakup by Usability
8 Market Breakup by Indication
9 Market Breakup by Connectivity
10 Market Breakup by End User
11 Market Breakup by Region
12 SWOT Analysis
14 Porters Five Forces Analysis
16 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Bigfoot Biomedical Inc.
- Digital Medics Pty Ltd.
- Emperra GmbH E-Health Technologies
- Jiangsu Delfu Medical Device Co. Ltd.
- Medtronic plc
- Novo Nordisk A/S
- pendiq GmbH
- Ypsomed AG
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 138 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 131.7 Million |
| Forecasted Market Value ( USD | $ 319.5 Million |
| Compound Annual Growth Rate | 10.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 8 |
