The global Insulin Delivery Pens Market is expected to enjoy a valuation of US$ 22.4 Bn by the end of the year 2022, and further expand at a CAGR rate of 8.0% to reach a valuation of ~US$ 48.6 Bn by the year 2032. Insulin pens are an effective diabetes management solution. With current technological advancements, insulin now comes in a variety of forms, such as reusable pens that can be used by simply loading insulin cartridges sold in packs. Disposable insulin pens contain a prefilled cartridge and are disposed of or thrown away after providing convenient insulin delivery. The most recent advancement in diabetes management is the use of smart insulin pens. These smart insulin pens are either Bluetooth enabled wireless devices that allow automatic data sharing or devices that require data sharing through a dedicated USB data cable. These pens also include a clinician-configured bolus calculator and the ability to deliver multiple insulin doses safely and discreetly every day.
Global Insulin Delivery Pens Market: Dynamics
Several factors contribute to the global insulin delivery pens market's expansion. One major driver is the shift away from unit-priced payment models, which are more commonly used to self-administer treatment for chronic diseases like diabetes, and toward value-based compensation models for therapies. The shift is most noticeable in regions such as the United States and Europe. This shift, in turn, increases demand for technology-driven insulin delivery systems with higher levels of accuracy and patient compliance, as well as the necessary coaching and education. Global demand for smart insulin pens has also increased as healthcare stakeholders seek useful information from clinical trials and the real world. Furthermore, because diabetes is a chronic and expensive disease, people seek ways to reduce the costs associated with regular diabetes check-ups. Smart insulin pens provide patients with all of the necessary dosage data pertaining to the disease and its effective management.
Global Insulin Delivery Pens Market: Segmental Highlights
The global market for insulin delivery pens is divided into several segments based on product type, indication, distribution channel, and region. The report analyses each market segment, including the yearly growth rate, revenue share, and pricing analysis. The following are some of the report's key segmental highlights:
Among the regional markets, North America is expected to emerge as the revenue leader, with a market value of nearly US$ 2,000 Mn in 2017 and an estimated market value of more than US$ 5,500 Mn by the end of the forecast period in 2027.
Reusable insulin pens are expected to dominate the market in terms of revenue share in the product type segmentation. Refillable insulin pens are expected to maintain a high market valuation throughout the forecast period, reaching an estimated US$ 9,183.0 Mn by 2027, with a CAGR of 10.2%.
The market is divided into Diabetes Type 1 and Diabetes Type 2, with the Diabetes Type 2 segment leading the market, with a market valuation expected to exceed US$ 12,300 Mn by the end of 2027, growing at a CAGR of 10.5% during the forecast period.
The hospital pharmacy segment is expected to maintain its dominance in the distribution channel category, with a market value of more than US$ 1,900 Mn in 2017. This segment competes with the online sales segment, which has a higher CAGR than the hospital pharmacy segment, growing at a rate of 11.7% during the forecast period.
Global Insulin Delivery Pens Market: Competitive Landscape
This research report includes a brief profile of some of the major players in the global insulin delivery pens market. These descriptive profiles provide information on the overall development of the companies along with their future strategies. Some of the companies featured in the report are Sanofi S.A., Companion Medical, Inc., Patients Pending Ltd, Diamesco Co., Ltd., DiabNext, Owen Mumford Ltd, and Emperra GmbH E-Health Technologies.
Read More@ https://www.futuremarketinsights.com/reports/insulin-delivery-pens-market
Global Insulin Delivery Pens Market: OverviewPeople suffering from diabetes make use of insulin pens to administer insulin in their bodies.
Insulin is a vital hormone for people suffering from diabetes.
These pens are convenient, accurate, and are quite simple to use as compared to syringe and vial.
Such detailed analysis of the market comes with the sole purpose to provide stakeholders with a detailed and clear analysis of the global insulin delivery pens market.To gauge the scope of customization in our reports Ask for a SampleGlobal Insulin Delivery Pens Market: Notable DevelopmentsOne of the developments that offer a glimpse of the market dynamics about the global insulin delivery pens market is mentioned below:In January, 2019, US-based medical technology provider Bigfoot Biomedical, Inc. is utilizing artificial intelligence to come up with solutions for the purpose of optimization of delivery and dosing of insulin.
The company has entered into an agreement of non-exclusive cooperation with a pharmaceutical company, Eli Lilly and Company.
The cooperation is to support integration of the latter’s insulin products into the former’s highly advanced and latest systems.Some of the prominent organizations in the global insulin delivery pens market comprise the below-mentioned:Becton, Dickinson and Company (BD)Novo Nordisk A/SRoche Holding AGBigfoot Biomedical, Inc.Insulet CorporationBraunLooking for Regional Analysis or Competitive Landscape in Global Insulin Delivery Pens market , ask for a customized reportGlobal Insulin Delivery Pens Market: Key TrendsThe global insulin delivery pens market is characterized by the presence of the following restraints, drivers, and opportunities.Convenience in the Use to Popularize Insulin Delivery Pens amongst Diabetic PopulationThese pens can be easily fitted with a specific insulin filled refill and easy to carry from one place to another.
