Global Smart Insulin Pens Market Opportunities And Strategies For Major Players In The Smart Insulin Pens Market 2021-2030
23 Aug, 2021
The smart insulin pens market consists of sales of smart insulin pens and related services by entities (organizations, sole traders and partnerships) that manufacture smart insulin pens. Smart insulin pens are insulin delivery devices that keep track of the volume, time, and type of dosage. These devices may also perform tasks such as generating reports to be shared with healthcare professionals. The companies engaged in manufacturing smart insulin pens invest in the designing and manufacturing of first- and second-generation smart insulin pens which are either reusable or pre-filled for the application of delivering an accurate insulin dose to manage Type 1 Diabetes and Type 2 Diabetes. The revenue generated by these companies is through sales of these pens to hospitals & clinics, ambulatory surgical centers, and home care settings.
Global Smart Insulin Pens Market Size And Drivers:
The global smart insulin pens market reached a value of nearly $85.82 million in 2020, having increased at a compound annual growth rate (CAGR) of 7.1% since 2015. The market is expected to grow from $85.82 million in 2020 to $119.4 million in 2025 at a rate of 6.8%. The growth is mainly due to the increasing prevalence of diabetes which is expected to drive the demand for smart insulin pens. The market is expected to grow from $119.4 million in 2025 to $164.25 million in 2030 at a CAGR of 6.6%. Rising numbers of diabetic cases will continue to be a driver of this market during the forecast period.
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Trends In The Global Smart Insulin Pens Market
The companies in the market are increasingly investing in improving smart insulin pens, to ease the burden of diabetes self-management and improve patient outcomes. The companies in the market are investing in developing smart insulin pens that calculate personalized doses, track glucose continuously and connects with apps of smartphones to visualize the data.
Global Smart Insulin Pens Market Segments:
The global smart insulin pens market is further segmented based on type, end user, usability, application and geography.
By Type: First Generation Pens, Second Generation Pens (Bluetooth Enabled, USB Connected)
By End User: Hospitals & Clinics, Ambulatory Surgical Centers, Home Care Settings
By Usability: Prefilled, Reusable
By Application: Type 1 Diabetes, Type 2 Diabetes
By Geography: The global smart insulin pens market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global smart insulin pens market, accounting for 51.8% of the total in 2020.
Read More On The Report For The Global Smart Insulin Pens Market At:https://www.thebusinessresearchcompany.com/report/smart-insulin-pens-market
Smart Insulin Pens Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides smart insulin pens market overviews, analyzes and forecasts market size and growth for the global smart insulin pens market, smart insulin pens market share, smart insulin pens market players, smart insulin pens market segments and geographies, smart insulin pens market’s leading competitors’ revenues, profiles and market shares. The smart insulin pens market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.