Smart Insulin Pens Global Market Report 2022: Key Players Investing Heavily in R&D and Boosting Growth

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Oct 25, 2022, 12:15 ET

DUBLIN, Oct. 25, 2022 /PRNewswire/ -- The "Smart Insulin Pens Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.

The global smart insulin pens market size reached US$ 103.86 Million in 2021. Looking forward, the publisher expects the market to reach US$ 214.05 Million by 2027, exhibiting a CAGR of 12.81% during 2021-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

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

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

Key Questions Answered in This Report:

How has the global smart insulin pens market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global smart insulin pens market?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the usability?
What is the breakup of the market based on the indication?
What is the breakup of the market based on the connectivity?
What is the breakup of the market based on the end user?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global smart insulin pens market and who are the key players?
What is the degree of competition in the industry?

Key Topics Covered:

1 Preface

2 Scope and Methodology

3 Executive Summary

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

13 Value Chain Analysis

14 Porters Five Forces Analysis

15 Price Analysis

16 Competitive Landscape

Companies Mentioned