Smart Insulin Pens Market Overview
An insulin pen, simply put, is a device that is used for injecting insulin. It is of two types- disposable and reusable. The presence or lack of insulin, a hormone used for producing sugar in the body, can lead to type I or type II diabetes. An accuracy, tracking timing and dose history, data sharing, and cost-effectiveness are some of its alluring features that have led to its immense popularity.
Smart insulin pens have changed the way people manage their diabetes and thus are used over vials and traditional syringe. These pens possess the ability of recording time logs and insulin dosages. It has been specially designed to prevent extra dosages, convert dosage information into reports that are computer-based, and maintain systematic dosage record.
The Global Smart Insulin Pens Market is predicted to touch USD 60 million at a 10.4% CAGR over the forecast period (2018-2023).
Market Factor Analysis
Porter’s Five Forces Analysis
Bargaining Power Of Suppliers
Bargaining Power Of Buyers
Threat Of New Entrants
Threat Of Substitutes
Intensity Of Rivalry
Value Chain Analysis
Investment Feasibility Analysis
Patients with hectic work schedules or living in urban regions require the need for special devices to ensure the continuous intake of insulin. Insulin pumps are computerized devices which have a similar functioning to human pancreas and deliver small doses of insulin during or after meal consumption.
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Increasing focus on diabetes management is projected to push the sales of insulin pumps. Awareness initiatives by governments and vendor sponsored programs can influence patients and propel market demand.
Key players have used numerous strategies to create a niche in the market such as mergers and acquisitions, product launches and innovations, research and development, collaboration, partnership, and others.
Globally Major Leading players in the smart insulin pens Industry are, InjexUK, NIPRO Medical Corporation, Smiths Medical, Diamesco Co., Ltd., Biocorp, Emperra GmbH E-Health Technologies, Companion Medical, Digital Medics Pty Ltd., Lilly Novo Nordisk A/S, USA, LLC, and Sanofi-Aventis US LLC., among others.
The MRFR report offers a wide segmental analysis of the smart insulin pens market on the basis of usability, distribution channel, and product type.
Global Smart Insulin Pens Market, by Product Type
- First Generation Pens
- Second Generation Pens
- USB Connected
Global Smart Insulin Pens Market, by Usability
- Disposable Pens
- Reusable Pens
Global Smart Insulin Pens Market, by Reusable Pens
- Online Medical Stores
- Retail Pharmacies
- Diabetes Clinics
- Hospital Pharmacies
- Insulin pen manufacturers
- Insulin pen distributors and suppliers
- Healthcare providers
- Medical device manufacturers
- Research institutes and academic centers
- Contract research organizations (CROs)
- Government associations
- Market research and consulting
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Popularity of insulin pump systems are driven by efforts by non-profit organizations such as the American Diabetes Association will be fruitful for the market. the market include sedentary lifestyles of patients, consumption of junk food, and adoption of insulin pumps. Furthermore, insulin pump accessories designed for women and kids can bode augment the market size.
Based on the region, the smart insulin pens market report covers the latest trends and growth opportunities across Europe, North America, the Asia Pacific, and the Middle East and Africa. Chapter 9. Global Smart Insulin Pens Market, By Region
9.2.1 North America
9.2.2 South America
9.3.1 Western Europe
22.214.171.124 Rest Of Western Europe
9.3.2 Eastern Europe
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9.4.5 South Korea
9.4.6 Rest Of Asia-Pacific
9.5 Middle East & Africa
9.5.1 Middle East
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