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Smart Insulin Pens Market Report and Forecast 2023-2031

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    Report

  • 160 Pages
  • July 2023
  • Region: Global
  • Expert Market Research
  • ID: 5855118
The global smart insulin pens market attained a value of USD 74.7 million in 2022, driven by increasing prevalence of diabetes worldwide. The market is expected to grow at a CAGR of 12.26% during the forecast period of 2023-2031 to attain a value of USD 211.2 million by 2031.

Smart Insulin Pens: Introduction

Smart insulin pens are technologically advanced devices used by individuals with diabetes to administer insulin. These pens are equipped with electronic components and connectivity features that allow for enhanced tracking, monitoring, and management of insulin administration. Smart insulin pens offer several uses and benefits in diabetes management.

The benefits of smart insulin pens include:

  • Accurate Insulin Dosing: Smart insulin pens offer precise insulin dosing capabilities, reducing the risk of dosing errors and ensuring individuals receive the correct amount of insulin. This enhances insulin therapy efficacy and improves overall glycaemic control
  • Simplified Insulin Management: Smart insulin pens streamline insulin management by automating data tracking and logging. Individuals no longer need to manually record their insulin doses, as the pens automatically capture and store the information. This simplifies diabetes self-care and provides a comprehensive record of insulin administration
  • Enhanced Treatment Monitoring: The connectivity features of smart insulin pens facilitate improved treatment monitoring. The recorded insulin data can be analysed over time, allowing individuals and healthcare providers to identify patterns, make adjustments to insulin dosing, and optimize diabetes management
  • Adherence Support: Smart insulin pens can help individuals adhere to their insulin regimen by providing reminders for insulin injections and tracking missed doses. These features promote medication adherence and help individuals stay on track with their treatment plan
  • Patient Empowerment and Engagement: Smart insulin pens empower individuals to take an active role in their diabetes management. The availability of real-time insulin data, personalized dose recommendations, and tracking capabilities fosters self-monitoring, engagement, and better understanding of insulin therapy
It is important to note that individuals using smart insulin pens should receive proper training on their operation, maintenance, and data management. Regular communication and collaboration with healthcare providers are essential to ensure the appropriate use of smart insulin pens and to optimize insulin therapy.

Smart Insulin Pens Market Segmentations

The market can be categorised into products, type, connectivity type, application, and region.

Market Breakup by Products

  • Smart Insulin Pens
  • Adaptors for Conventional Pens
  • Disposable
  • Reusable

Market Breakup by Type

  • First Generation Pens
  • Second Generation Pens

Market Breakup by Connectivity Type

  • Bluetooth
  • USB

Market Breakup by Application

  • Type 1 Diabetes
  • Type 2 Diabetes
Smart Insulin Pens Market Breakup by Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Smart Insulin Pens Market Overview

The market has experienced significant growth and is expected to continue expanding in the coming years. One of the primary drivers of market growth is the increasing prevalence of diabetes worldwide. The rising global incidence of diabetes, particularly type 1 and type 2 diabetes, has created a growing population of individuals who require insulin therapy for managing their condition. Smart insulin pens offer advanced features and benefits over traditional insulin pens, making them an attractive option for diabetes management.

Moreover, advancements in technology and the development of smart insulin pens with enhanced capabilities have fuelled market expansion. These pens are equipped with electronic components, connectivity features, dose calculators, data logging, and reminders, providing individuals with diabetes convenient and user-friendly tools for insulin dosing and management. The integration of mobile apps and cloud-based platforms further enhances the functionality and accessibility of smart insulin pens.

Furthermore, the shift towards personalized and connected healthcare has played a crucial role in market demand for smart insulin pens. These devices align with the growing trend of patient-centred care and self-management in diabetes management. Smart insulin pens empower individuals with diabetes to actively monitor and track their insulin doses, facilitating better treatment adherence, personalized dose adjustments, and improved glycaemic control.

Key Players in the Global Smart Insulin Pens Market

The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the smart insulin pens market are as follows:
  • Emperra GmbH
  • Medtronic Plc
  • Novo Nordisk
  • Pendiq
  • Sanofi FA
  • Berlin-Chemie AG
  • Bigfoot Biomedical
  • Digital Medics Pty Ltd
  • Eli Lilly and Company
  • Jiangsu Deflu Medical Device Co. Ltd
*The publisher always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.

Table of Contents

1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage - Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Global Smart Insulin Pens Market Overview
3.1 Global Smart Insulin Pens Market Historical Value (2016-2022)
3.2 Global Smart Insulin Pens Market Forecast Value (2023-2031)
4 Global Smart Insulin Pens Market Dynamics
4.1 Market Drivers and Constraints
4.2 SWOT Analysis
4.3 Porter’s Five Forces Model
4.4 Key Demand Indicators
4.5 Key Price Indicators
4.6 Industry Events, Initiatives, and Trends
4.7 Value Chain Analysis
5 Global Smart Insulin Pens Market Segmentation
5.1 Global Smart Insulin Pens Market by Products
5.1.1 Market Overview
5.1.2 Smart Insulin Pens
5.1.3 Adaptors for Conventional Pens
5.1.4 Disposable
5.1.5 Reusable
5.2 Global Smart Insulin Pens Market by Type
5.2.1 Market Overview
5.2.2 First Generation Pens
5.2.3 Second Generation Pens
5.3 Global Smart Insulin Pens Market by Connectivity Type
5.3.1 Market Overview
5.3.2 Bluetooth
5.3.3 USB
5.4 Global Smart Insulin Pens Market by Application
5.4.1 Market Overview
5.4.2 Type 1 Diabetes
5.4.3 Type 2 Diabetes
5.5 Global Smart Insulin Pens Market by Region
5.5.1 Market Overview
5.5.2 North America
5.5.3 Europe
5.5.4 Asia Pacific
5.5.5 Latin America
5.5.6 Middle East and Africa
6 North America Smart Insulin Pens Market
6.1 Market Share by Country
6.2 United States of America
6.3 Canada
7 Europe Smart Insulin Pens Market
7.1 Market Share by Country
7.2 United Kingdom
7.3 Germany
7.4 France
7.5 Italy
7.6 Others
8 Asia Pacific Smart Insulin Pens Market
8.1 Market Share by Country
8.2 China
8.3 Japan
8.4 India
8.5 ASEAN
8.6 Australia
8.7 Others
9 Latin America Smart Insulin Pens Market
9.1 Market Share by Country
9.2 Brazil
9.3 Argentina
9.4 Mexico
9.5 Others
10 Middle East and Africa Smart Insulin Pens Market
10.1 Market Share by Country
10.2 Saudi Arabia
10.3 United Arab Emirates
10.4 Nigeria
10.5 South Africa
10.6 Others
11 Regulatory Framework
11.1 Regulatory Overview
11.1.1 US FDA
11.1.2 EU EMA
11.1.3 INDIA CDSCO
11.1.4 JAPAN PMDA
11.1.5 Others
12 Patent Analysis
12.1 Analysis by Type of Patent
12.2 Analysis by Publication year
12.3 Analysis by Issuing Authority
12.4 Analysis by Patent Age
12.5 Analysis by CPC Analysis
12.6 Analysis by Patent Valuation
12.7 Analysis by Key Players
13 Grants Analysis
13.1 Analysis by year
13.2 Analysis by Amount Awarded
13.3 Analysis by Issuing Authority
13.4 Analysis by Grant Application
13.5 Analysis by Funding Institute
13.6 Analysis by NIH Departments
13.7 Analysis by Recipient Organization
14 Clinical Trials Analysis
14.1 Analysis by Trial Registration Year
14.2 Analysis by Trial Status
14.3 Analysis by Trial Phase
14.4 Analysis by Therapeutic Area
14.5 Analysis by Geography
15 Funding and Investment Analysis
15.1 Analysis by Funding Instances
15.2 Analysis by Type of Funding
15.3 Analysis by Funding Amount
15.4 Analysis by Leading Players
15.5 Analysis by Leading Investors
15.6 Analysis by Geography
16 Partnership and Collaborations Analysis
16.1 Analysis by Partnership Instances
16.2 Analysis by Type of Partnership
16.3 Analysis by Leading Players
16.4 Analysis by Geography
17 Supplier Landscape
17.1 Emperra GmbH
17.1.1 Financial Analysis
17.1.2 Product Portfolio
17.1.3 Demographic Reach and Achievements
17.1.4 Mergers and Acquisitions
17.1.5 Certifications
17.2 Medtronic Plc
17.2.1 Financial Analysis
17.2.2 Product Portfolio
17.2.3 Demographic Reach and Achievements
17.2.4 Mergers and Acquisitions
17.2.5 Certifications
17.3 Novo Nordisk
17.3.1 Financial Analysis
17.3.2 Product Portfolio
17.3.3 Demographic Reach and Achievements
17.3.4 Mergers and Acquisitions
17.3.5 Certifications
17.4 Pendiq
17.4.1 Financial Analysis
17.4.2 Product Portfolio
17.4.3 Demographic Reach and Achievements
17.4.4 Mergers and Acquisitions
17.4.5 Certifications
17.5 Sanofi FA
17.5.1 Financial Analysis
17.5.2 Product Portfolio
17.5.3 Demographic Reach and Achievements
17.5.4 Mergers and Acquisitions
17.5.5 Certifications
17.6 Berlin-Chemie AG
17.6.1 Financial Analysis
17.6.2 Product Portfolio
17.6.3 Demographic Reach and Achievements
17.6.4 Mergers and Acquisitions
17.6.5 Certifications
17.7 Bigfoot Biomedical
17.7.1 Financial Analysis
17.7.2 Product Portfolio
17.7.3 Demographic Reach and Achievements
17.7.4 Mergers and Acquisitions
17.7.5 Certifications
17.8 Digital Medics Pty Ltd.
17.8.1 Financial Analysis
17.8.2 Product Portfolio
17.8.3 Demographic Reach and Achievements
17.8.4 Mergers and Acquisitions
17.8.5 Certifications
17.9 Eli Lilly and Company
17.9.1 Financial Analysis
17.9.2 Product Portfolio
17.9.3 Demographic Reach and Achievements
17.9.4 Mergers and Acquisitions
17.9.5 Certifications
17.10 Jiangsu Deflu Medical Device Co. Ltd.
17.10.1 Financial Analysis
17.10.2 Product Portfolio
17.10.3 Demographic Reach and Achievements
17.10.4 Mergers and Acquisitions
17.10.5 Certifications
18 Key Opinion Leaders (KOL) Insights (Additional Insight)
19 Company Competitiveness Analysis (Additional Insight)
19.1 Very Small Companies
19.2 Small Companies
19.3 Mid-Sized Companies
19.4 Large Companies
19.5 Very Large Companies
20 Payment Methods (Additional Insight)
20.1 Government Funded
20.2 Private Insurance
20.3 Out-of-Pocket
  • *Additional insights provided are customisable as per client requirements.

Companies Mentioned

  • Emperra GmbH
  • Medtronic Plc
  • Novo Nordisk
  • Pendiq
  • Sanofi FA
  • Berlin-Chemie AG
  • Bigfoot Biomedical
  • Digital Medics Pty Ltd.
  • Eli Lilly and Company
  • Jiangsu Deflu Medical Device Co. Ltd.

Methodology

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Table Information