Smart Insulin Pens Market to Gain Value of US$ 90.1 Mn by 2031, States TMR Study

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Aug 30, 2022, 09:30 ET

The smart insulin pens market is projected to expand at a CAGR of 11.2% from 2022 to 2031
Rise in number of older people with diabetes in Asia Pacific is boosting the product demand in the region

WILMINGTON, Del., Aug. 30, 2022 /PRNewswire/ -- The global smart insulin pens market size is prognosticated to expand at notable pace and reach a value of US$ 90.1 Mn by the end of 2031, according to a research report by Transparency Market Research (TMR). Furthermore, the market is expected to expand at a CAGR of 11.2% during the forecast period, from 2022 to 2031.

The report by TMR performs the global smart insulin pens market analysis and enlightens readers on the growth opportunities, restrains, challenges, and R&Ds in the market. Moreover, it covers dependable data on the smart insulin pens market trends and recent developments.

A rise in inclination among the patient population toward the use of integrated technologies in the disease management is creating significant demand opportunities in the global smart insulin pens market, note analysts at TMR. Patient pool across the globe is increasing the use of the Internet and smartphone in order to keep the track record of their insulin doses owing to surge in the availability of advancements in the device connectivity technology. Moreover, the popularity of integrated technology is being increasing as it can assist in detecting the blood glucose levels and calculating insulin dose of a patient. This aside, these pens can provide a preset time interval for the administration of insulin. Due to such advantages of these pens, the global smart insulin pens market is anticipated to gain sizable sales avenues in the forthcoming years.

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Smart Insulin Pens Market: Key Findings

The prevalence of different types of lifestyle-related diseases such as diabetes is being increasing across the globe in the recent years. Moreover, diabetes is considered one of the prominent reason for death among people from across the globe. The disease is found in older as well as child population. Considering this factor, the government authorities of several nations are focusing on spreading awareness about the health condition and the present treatment solutions for the same. This factor is expected to generate profitable prospects in the global smart insulin pens market during the forecast period.
Different types of smart insulin pens are gaining traction today owing to their ability to help in proper diabetes management. These pens hold varied features that assist a patient in keeping a record of their insulin doses. This factor is resulting into rapid adoption of smart insulin pens among people across the globe, according to analysts of a research report by TMR.

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Smart Insulin Pens Market: Growth Boosters

Surge in the number of diabetic people across the globe is boosting the demand for smart insulin pens
Increase in the adoption of next-gen and connected devices in the healthcare sector is anticipated to drive the expansion of the smart insulin pens market size

Smart Insulin Pens Market: Regional Analysis

The smart insulin pens market is expected to gain notable growth prospects in North America owing to many factors including a rise in the cases of diabetes, existence of numerous key players, and increase in the adoption of advanced technologies in the region
The Asia Pacific smart insulin pens market is estimated to show growth at notable CAGR during the forecast period due to the surge in the older diabetic population in the region

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Smart Insulin Pens Market: Key Players

Some of the key players profiled in the report are:

Sanofi (Sanofi-Aventis US LLC)
Novo Nordisk A/S
Medtronic plc
Eli Lilly and Company
Bigfoot Biomedical
Emperra GmbH
Diamesco Co. Ltd.
Jiangsu Deflu Medical Device Co. Ltd.
Ypsomed Holding AG

Smart Insulin Pens Market Segmentation

Product

Smart Insulin Pens
Adaptors for Conventional Pens

Connectivity Type

Bluetooth
USB

Application

Type 1 Diabetes
Type 2 Diabetes

Distribution Channel

Hospital Pharmacies
Online Sales
Retail Pharmacies
Diabetes Clinics / Centers

Regions Covered

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

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