Skip to main content

Smart Insulin Pens Market Demand-sales, Industry Size, Share, Technology Advancements

Smart insulin pens are devices used to deliver the accurate dose of insulin to diabetics at the appropriate time. They have gained traction among diabetics due to its simplistic nature and easy to handle mechanism compared to traditional syringes. The global smart insulin pens market report by Market Research Future (MRFR) contains the pertinent drivers and challenges faced by manufacturers during the period of 2018 to 2023.
Market Overview
The global smart insulin pens market is expected to exhibit 10.4% CAGR during the forecast period (2018-2023) due to high prevalence of diabetes. Furthermore, the use of these devices for the management of diabetes by the general populace in developing countries can bode well for the market during the forecast period. Awareness of advanced drug delivery methods, need for modern treatments, and the alarming cases of diabetes can bolster the global market demand till 2023.
The surge in the adoption rate of glucose monitoring devices, awareness of these devices, and integration of glucose measurement devices are other drivers of the market. According to the World Health Organization (WHO), diabetes was accountable for 1.2 million deaths in 2012. This can spark the demand for smart insulin pens for proper management of diabetes. Co-pay assistance and medical reimbursement policies covering the purveying of these devices can ensure the continuous sales.
Unfavorable reimbursement policies, risks associated with insulin pens, and increasing costs of insulin pens are challenges faced by the market.
Major Market Competitive Outlook
These are the notable players of the global smart insulin pens market. Manufacturers are launching new iterations of smart insulin pens for recording the proper dosage amounts and reminders of taking insulin shots at the appropriate time.
InjexUK
Lilly USA
LLC
Digital Medics Pvt Ltd.
Companion Medical
Sanofi-Aventis US LLC
Diamesco Co. Ltd.
Smith’s Medical
NIPRO Medical Corporation
Novo Nordisk A/S
Biocorp
Emperra GmbH E-Health Technologies
and others. For instance, the InPen by Companion Medical can capture mealtime data and shares it on the respective medical mobile application.
Industry News
Recently, Medtronic and Novo Nordisk have decided to pool in their offerings for sharing the data acquired by their smart insulin pens on a common diabetes management platform.
Market Segmentation
The global smart insulin pens market has been segmented on the basis of product type, usability, and distribution channel.
On the basis of product type, the market has been segmented into first-generation pens and second-generation pens. The second-generation pens segment has been further divided into Bluetooth-enabled and USB connected.
By usability, the segment has been divided into disposable pens and reusable pens. Reusable insulin pens segment is likely to be the fastest growing segment during the forecast period.
by distribution channel, has been segmented into retail pharmacies, diabetes clinics, online medical stores, and hospital pharmacies.
Browse Complete Details of “Smart Insulin Pens Market” Here: https://www.marketresearchfuture.com/reports/smart-insulin-pens-market-6789
Regional Analysis
The Middle East & Africa (MEA), Americas, Asia Pacific (APAC), and Europe are regions discussed in the global smart insulin pens market report.
The Americas can be the leading region of the global market till 2023 due to favorable policies by regulatory authorities, adoption of advanced technology, and rising prevalence of diabetes among the general populace. The approval of novel injectable devices by regulatory agencies can drive the global smart insulin pens market growth.
The Europe smart insulin pens market is driven by adoption of advanced drug delivery devices, rising cases of diabetics, and presence of major players. According to the World Diabetes Foundation, more than 59 million have been diagnosed with diabetes, with the number purported to touch 71.1 million by 2040.
Government policies for assisting diabetics and rise in disposable income levels of patients are main drivers of the smart insulin pens market in APAC. Large cases of diabetes recorded in Southeast Asia can drive the regional market growth. As per the International Diabetes Federation, the number of diabetics in the region can touch 156 million by 2045.
About Market Research Future: MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
Contact:
Market Research Future
+1 646 845 9312
Labels:

Comments

Post a Comment

Popular posts from this blog

hyperpigmentation disorders treatment Overview

hyperpigmentation disorders treatment Analysis Hyperpigmentation disorder are harmless skin condition caused by darkened skin patches. Rising demand for outpatient dermabrasion procedures, increasing adoption of lasers and growing cosmetics expenditure are expected to drive the growth of the market. Additionally, rising R&D spending followed aggressive strategies by the key market players is generating awareness for the disease boosting the market to grow. The global hyperpigmentation disorders treatment Market was anticipated to held a market value of USD 3,915 million in the year 2017 and is expected to grow at a CAGR of 7.1% during the forecast period. Browse Complete Premium Research Report Enabled with Respective Tables and Figures at  https://www.marketresearchfuture.com/reports/hyperpigmentation-disorders-treatment-market-7462 Segmentation of The global h yperpigmentation disorders treatment market Segments  has been segmented based on treatment type, dise...
Post a Comment
Read more

Laminated Glass Market Rising Trends, Global Opportunity, demand Analysis and Precise Industry Outlook

Laminated Glass Market Research Overview 2021-2026: Laminated Glass Growth Analysis by Key Players, Types, Applications, Countries, and Forecast. This Laminated Glass research report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole. The Research study also analyses key emerging trends and their impact on present and future development. The process has significantly miniaturized various tools that creates more opportunities for the Laminated Glass section to penetrate the growth is valued at xx million US$ in 2020 and is expected to reach xx million US$ by the end of 2026, at a growing CAGR of xx%. Inquire for Free Sample Pages before Purchase of this Research Report: https://www.industrydataanalytics.com/reports/global-laminated-glass-market/inquiry?Mode=rohit The Laminated Glass Market Dynamics Majorly Targeted the Restraints Factors, Growth Opportunities and Future Challenges d...
Post a Comment
Read more

Medical Vacuum Systems Market Key Growth Drivers, Global Industry Demand and Size with Statistics Data

  Medical Vacuum Systems Market Research Report: By Product (Standalone Vacuum Systems, Centralized Vacuum Systems, Portable, and Compact), Technology (Dry Claw Vacuum Pump Technology), Application (Therapeutic), End User, & Region — Global Forecast till 2023 Market Highlights The global medical vacuum systems market held a market value of USD 1,030.5 million in 2017 and is projected to grow at a CAGR of 7.1% over the forecast period. Vacuum system maintains the pressure inside a chamber under the value of the atmospheric pressure. A medical vacuum system provides a safe, adequate flow of vacuum, and the required pressure to be used in the healthcare facilities such as operating theaters (OTs), intensive care centers, and emergency and respirology/general medicine units. Avail a Free Sample@  https://www.marketresearchfuture.com/sample_request/7569 Regional Analysis The global medical vacuum systems market has been segmented by region into the Americas, Europe, Asia-Pacifi...
Post a Comment
Read more