A recent report published by Infinium Global Research on the smart insulin pens market provides an in-depth analysis of segments and sub-segments in the global as well as regional smart insulin pens market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional smart insulin pens market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global smart insulin pens market. According to the report, the global smart insulin pens market is projected to grow at a CAGR of 10.40% over the forecast period of 2019-2025.
Insulin pen is used to deliver insulin to diabetic patients. The global smart insulin pens market is expected to grow at a success rate over the forecast period. Technological improvements in insulin infusion devices are one of the rising trends in the market across the globe.
The increasing occurrence of diabetes raises the demand for needle-free insulin delivery devices across the globe. According to the international diabetes federation, approximately 425 million adults were living with diabetes in 2017 and it is expected to rise to 629 million by 2045. Also, 79% of adults with diabetes were living in low- and middle-income countries and the greatest number of people with diabetes were between 40 and 59 years of age. Hence, the rise in diabetics is likely to have a positive impact on the market. Lesser cost of insulin pumps and painless injections are further driving the growth of the market. The other advantage of smart insulin pens is that it can be used by people with visual or motor skills disorders easily. However, limited usage of smart insulin pens for patients requiring a mixture of two types of insulin may hinder the growth of the market. Moreover, advancements in technology and joining resources from all around the world creates opportunities for the growth of the smart insulin pens market in the next few years.
In terms of region, the global smart insulin pens market is classified into North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa. Among, North America is leading the global smart insulin pens market and is estimated to dominate the market during the forecast period. This is attributed to the presence of key players and a high rate of adoption of technologically advanced devices in the region. The number of sales of items of insulin Pens is anticipated to grow steadily during the forecast period in the region. However, Asia-Pacific is projected to expand at a rapid pace during the forecast period. Rise in the geriatric population with diabetes is the major factor for the growth of the smart insulin pens market in this region.
The report on the global smart insulin pens market covers segments such as type, usability, and end user. On the basis of type, the sub-markets include first generation pens, and second generation pens. On the basis of usability, the sub-markets include prefilled, and reusable. On the basis of end user, the sub-markets include hospitals & clinics, ambulatory surgical centers, and home care settings.
The report provides profiles of the companies in the market such as Digital Medics Pty Ltd., Companion Medical Inc., Eli Lilly and Company, Novo Nordisk A/S, Diamesco Co., Ltd., F. Hoffmann-La Roche AG, Emperra GmbH E-Health Technologies, Insulet Corporation, Jiangsu Delfu medical device Co. Ltd., Bigfoot Biomedical, and other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the smart insulin pens market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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