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| Global Smart Insulin Pen Market Size |
Insulin pens are one of the most commonly used drug delivery devices for
patients suffering from diabetes. Smart insulin pens integrate key features
like dosage memory, connectivity and Bluetooth capabilities that provides
real-time data to patients as well as healthcare providers. These smart devices
not only improve treatment outcomes but also simplify medication management.
The global
Smart Insulin Pen Market is estimated to be valued at US$ 43.9 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period
2023 to 2030, as highlighted in a new report published by Coherent Market
Insights.
Market key trends:
Increased adoption of smart insulin pens.
The smart insulin pen market is expected to gain significant traction over the
forecast period owing to the growing adoption of smart insulin pens among
diabetes patients and healthcare providers. Smart insulin pens offers advanced
features like dosage tracking, data collection and wireless data sharing
capabilities which helps in improving medication adherence and manage diabetes
more efficiently. The real-time data and connectivity helps healthcare
providers to remotely monitor patients and suggest timely changes in therapy.
Thus, rapid technological advancements and enhanced features of smart insulin
pens is a major factor responsible for accelerated growth of this market.
Segment Analysis
The global smart insulin pen market is dominated by prefilled insulin pens sub
segment. Prefilled insulin pens are preferred more as it reduces the step of
filling insulin before every injection making the process more convenient. The
pens come prefilled with standardized insulin doses making dosage measurement
easy. It also minimizes insulin wastage as it allows accurate dosage delivery
with every use.
Key Takeaways
The Global
Smart Insulin Pen Market Size is expected to witness high growth over
the forecast period. The rising prevalence of diabetes worldwide owing to
changing lifestyle and growing geriatric population is driving the growth of
smart insulin pen market.
Regional analysis related content comprises
Europe dominates the smart insulin pen market and is expected remain the
fastest growing region during the forecast period. High prevalence of diabetes,
favorable reimbursement policies, rising healthcare expenditure are some
factors fueling the market growth in the region.
Key players related content comprises
Key players operating in the smart insulin pen market are 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, Diabnext Diamesco Co. Ltd.
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