Smart Insulin Pens Market Share, Growth, Size and Industry Forecast 2022-2027

The latest research study “Smart Insulin Pens Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group

The global smart insulin pens market size reached US$ 103.86 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 214.05 Million by 2027 exhibiting a CAGR of 12.10% during 2022-2027.

Covid-19 Impact:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Industry Definition and Application:

A smart insulin pen represents a reusable injector pen with an intuitive smartphone app that facilitates patients with diabetes in better managing their insulin delivery efficiently. It is more affordable, easy to utilize, and provides helpful reminders, alerts, and reports when compared to conventional insulin.

Smart insulin pens aid in calculating doses of the blood sugar levels, carbohydrate quantities, meal size, and active insulin. They notify the expiration date or the temperature range of insulin so that the cartridge is replaced in a timely manner. As a result, smart insulin pens find extensive applications in hospitals, clinics, ambulatory surgical centers, and home care units across the global.

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Smart Insulin Pen Market Trends And Drivers: 

The escalating awareness among the masses about the product benefits, such as delivering accurate half-unit doses, preventing skipped or missed doses, tracking time and number of doses, etc., is among the key factors stimulating the smart insulin pens market. Apart from this, the rising prevalence of diabetes, on account of the increasing obesity rate and the expanding geriatric population, and the growing healthcare sector across the globe are also propelling the market growth.

Besides this, the inflating investments in research and development (R&D) activities by key market players for introducing insulin pens with memory and timing functions that provide intelligent injections for patients are further fueling the global market. Additionally, the increasing focus on developing Bluetooth-connected smart insulin pens is also driving the market growth.

Furthermore, the elevating adoption of home treatment models, as they are more comfortable, convenient, and personalized, is acting as another significant growth-inducing factor. Moreover, the escalating demand for needle-free insulin delivery devices, owing to the rising risk of needle stick injuries while using, handling, disassembling, or disposing of needles, is expected to positively influence the smart insulin pens market over the forecasted period.

Smart Insulin Pens Market Report Scope
Report Coverage	Details
Market size value in 2021	US$ 103.86 Million
Market forecast in 2027	US$ 214.05 Million
Growth Rate	CAGR of 12.10% from 2022 to 2027
Base year for estimation	2021
Historical data	2016-2021
Forecast period	2022-2027
Report coverage	Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, And Trends
Segments covered	Type, Usability, Indication, Connectivity And End User.
Regional scope	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Key companies profiled	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.
Market Dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

 

Report Segmentation:

The report has been segmented the market into following categories:

 

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

By Geography:

• 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

Key highlights of the report:

• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
  If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

List of Major Key Players:

The major players in the market are 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.

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