Smart Insulin Pen Market to Reach US$ 43.9 million by 2023
The global Smart Insulin Pen Market is estimated to be valued at US$ 43.9 million in 2023 and is expected to exhibit a CAGR of 11.3% over the forecast period of 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Smart insulin pens are advanced devices used for the delivery of insulin to diabetic patients. These pens are equipped with Bluetooth technology and sensors that help in tracking and recording vital information such as insulin dosage and injection timing. The advantages of smart insulin pens include improved accuracy, ease of use, and reduced risks of incorrect dosages. The rising prevalence of diabetes globally, along with the increasing demand for effective diabetes management systems, is driving the growth of the smart insulin pen market. These devices not only allow for precise insulin delivery but also provide valuable insights into patient behavior and treatment effectiveness, thereby improving overall patient care.
Market Key Trends:
One of the key trends in the smart insulin pen market is the increasing integration of artificial intelligence (AI) technology. AI-powered smart insulin pens can analyze data collected from patient insulin injections and provide personalized recommendations for insulin dosage adjustments. This integration of AI enables patients to better manage their diabetes by effectively monitoring their blood sugar levels and adapting their treatment plans accordingly. Furthermore, AI technology can also assist healthcare providers in analyzing large datasets, identifying patterns, and making informed decisions for diabetic patients. The combination of smart insulin pens and AI technology has the potential to revolutionize diabetes management and enhance patient outcomes.
Segment Analysis:
The segment analysis of the Smart Insulin Pen market reveals that the market is dominated by the Digital Medics segment. This segment is expected to exhibit significant growth over the forecast period due to several factors. Firstly, the increasing prevalence of diabetes worldwide is driving the demand for smart insulin pens, as they offer convenience and improved accuracy in insulin delivery. Moreover, the growing adoption of advanced healthcare technologies, such as Internet of Things (IoT) and artificial intelligence, is further propelling the growth of the Digital Medics segment. Digital Medics Pty. Ltd., Emperra GmbH E-Health Technologies, and Novo Nordisk are some of the key players operating in this dominating segment.
Key Takeaways:
The global Smart Insulin Pen Market Share is expected to witness high growth, exhibiting a CAGR of 11.3% over the forecast period. This growth can be attributed to the increasing prevalence of diabetes worldwide, along with the rising adoption of advanced healthcare technologies. The market is projected to reach a value of US$ 43.9 million in 2023.
In terms of regional analysis, North America is expected to be the fastest-growing and dominating region in the Smart Insulin Pen market. This can be attributed to the high prevalence of diabetes in this region, along with the presence of well-established healthcare infrastructure and increased awareness about smart insulin pen devices among healthcare professionals and patients.
Key players operating in the Smart Insulin Pen market include Digital Medics Pty. Ltd., Emperra GmbH E-Health Technologies, Novo Nordisk, Companion Medical Inc., Jiangsu Deflu Medical Device Co. Ltd., Medtronic PLC, Pendiq GmbH, Sanofi, Berlin Chemie Companion Medical Inc., Bigfoot Biomedical, Digital Medics Pty Ltd, Eli Lilly and company, Ypsomed Holding AG, and Diabnext Diamesco Co. Ltd. These key players are actively involved in product development, strategic collaborations, and mergers and acquisitions to gain a competitive edge in the market.
Read More,
A new market report titled “United States Smart Insulin Pen Market” has been added to the repository of DPI Research.
This report provides comprehensive assessment of the current trends, restrains and futuristic opportunities, which are anticipated to provide lucrative avenues for market proliferation.Download Free Sample Report @ https://dpiresearch.com/request-a-free-sample-reportThe United States smart insulin pen market is expected to witness a CAGR of more than 35% to reach market value of around US$ 392 Million by 2026.The market has witnessed steady growth in the past few years and development in technology with the introduction of advanced products has increased the acceptance of smart insulin pen in the market.“Smart Insulin Pen Market Outlook 2026: United States Opportunity and Demand Analysis, Market Forecast 2019 – 2026” presents an in–depth assessment of the United States smart insulin pen market dynamics, opportunities, future road map, competitive landscape and discusses major trends.
The report includes historical data from 2018 and forecasts until 2026.The report contains a granular analysis of the present industry situations, market demands, reveal facts on the market size, volume, revenues for smart insulin pen and illustrative forecast to 2026.
Additionally, the report includes an assessment of reimbursement pattern and offers a clear view of the regulatory landscape of the insulin pens.
The key market players are evaluated on various parameters such as business overview, products offered and recent development.The Major Companies Dominating this Market for its Products, Services and Continuous Product Developments are:Companion MedicalDiabnextDigital Medics Ptd Ltd.Emperra GmbH E–Health TechnologiesDiamesco Co., Ltd.The Latest Industry Data Included in this Report:United States Diabetes Population and Forecast (2013 – 2026)United States Insulin Users and Forecast (2013 – 2026)Smart Insulin Pen Users and Forecast (2018 – 2026)Smart Insulin Pen Market and Forecast (2018 – 2026)United States Insulin Pen Reimbursement PoliciesUnited States Insulin Pen Regulation SystemMarket Definition for the Specified Topic Along with Identification of Key Drivers and Inhibitors for the MarketA Comprehensive List of Key Market Players Along with the Analysis of their Current Products Offered and Recent DevelopmentFor More Information@ https://bit.ly/34ifQ1nThe report is readily available and can be dispatched immediately after payment confirmation.Would like to place an order or any question, please feel free to contact at [email protected] of the Report:DPI Research provides customization of the report as per your need.
Get in touch with our sales team, who will guarantee you to get a report that suits your necessities.Contact Us:Maria RaiHead of Business DevelopmentDPI Research | Web: https://dpiresearch.comDirect Line: +91-766-764-8693E-mail: [email protected] Us:DPI Research is a leading market research publisher which offer bespoke market research reports, custom research and consulting services across multi geographies and industry verticals.
The global insulin pen needles market is estimated to witness a significant growth in forthcoming years, says TMR.
In order increase their global reach, firms are investing heavily in the research and development activities.
The firms leading in the global pen needle market are Dickinson and Company, Becton, Novo Nordisk A/S, Ypsomed Holding AG, Ultimed, Inc., Artsana S.P.A., B. Braun Melsungen, Allison Medical, Inc., Terumo Corporation, Owen Mumford, Ltd., and Htl-Strefa S.A.
As per Transparency Market Research the global market of insulin pen needles is likely to expand at a steady CAGR of 8.0% during 2017 to 2026.
Request Brochure –https://www.transparencymarketresearch.com/sample/sample.php?flag=B_id=34937On the basis of application type, the segment of type II diabetes is foreseen to experience a strong rise as per the revenue, holding a value of more than US$ 1,000 mn by the end of forecast period.
Organizations in the medical sectors are primarily concentrating on creating therapeutic gadgets, for example, 'Timesulin', which is insulin pens that enables the patients to manage dose measurements through pumps.
