Global Smart Insulin Pens Market Report By Product (Smart Insulin Pens, Adaptors For Conventional Pens), By Connectivity (Bluetooth, USB), By Application (Type 1 Diabetes, Type 2 Diabetes), By Distribution Channel (Hospitals Pharmacy, Online Sales, Retail Pharmacy, Diabetes Clinics/Centers) And By Regions - Industry Trends, Size, Share, Growth, Estimation and Forecast, 2023-2032

Global Smart Insulin Pens Market Overview

The global smart insulin pens market size was valued at USD 33.42 million by 2022 and expected to reach over USD 84.66 million in 2030 with a CAGR of 12.32% during the forecast period of 2023-2030. The key driver impacting the smart insulin pens market is the rising incidence of diabetic patients. As per the World Health Organization, in 2016, there is around 1.6 million deaths occurred due to diabetes. According to the International Diabetic Federation (IDF), there was approximately 463 million adults (20-79 years) were living with diabetes in the year 2019 and is expected to reach 700 million by 2045. In addition to this, the simple functioning and accuracy-related to insulin dosing is anticipated to increase the smart insulin pens market demand under the forecast period. 

The high adoption of smart insulin pens due to the rising usage of connected medical devices globally is also estimated to be a key determinant adding growth to the market. Also, the current trend of integrating glucose monitoring devices and therapeutics for better management of diabetes at the global level is considered as the key factor that is positively impacting the market. However, there are some disadvantages associated with the use of an insulin pen, such as two insulin types cannot be mixed in an insulin pen, which leads to the frequency in the need for injections. This is likely to restrict smart insulin pens market growth in the long run. The current industry trends show the growing awareness of people regarding the use of smart insulin pens, and the rising focus on brand protection in the coming decade is creating new market opportunities for the key players.



The smart insulin pens market is vast, with a large number of local and global players. The key leaders follow various strategies to improve their market position, such as mergers, acquisitions, expansions, and improved quality products at the best prices to enhance their market share across the world. For instance, In January 2018, BIOCORP received clearance in Europe for EASY LOG, an adaptor for insulin pens connected through the internet. This product approval helps the company substantiate its market position, improving its product portfolio in the European region. The report studies a few key players of the global smart insulin pens market in detail, covering the company profile, product list, and financial information. The dominating key players included in the report are Novo Nordisk A/S, Sanofi (Sanofi-Aventis US LLC), Eli Lilly and Company, Medtronic plc, Emperra GmbH, Jiangsu Deflu Medical Device Co. Ltd., Bigfoot Biomedical, DIAMESCO Co Ltd., Ypsomed Holding AG. always been the primary targets of smart insulin pens companies and many others. 

In this market research report, the market is segmented by product, applications, distribution channel, and region. 

Analysis By Product 
By product, the report is categorized into smart insulin pens and adaptors for conventional pens.  Smart insulin dominates the product segment in 2019 with a maximum market share. It is due to the numerous benefits of smart insulin pens than other insulin delivery devices, such as it is easy to use as compared to the syringe and portable nature. In addition, the pen enables patients to dial the dose precisely, which also helps the consumers having vision problems to control insulin doses easily. 

Analysis By Applications
By applications, the report is categorized into Type 1 and Type 2 diabetes. Type 2 diabetes dominates the application segment in 2019 with a maximum market share. It is expected to maintain its dominance over the forecast period because of its widespread prevalence across the globe. As per the IDF proportion of people with type 2 diabetes is rising in most countries. For instance, According to the Centers for Disease Control and Prevention's 2020 National Diabetes Statistics Report, there are 34.2 million people in the United States who are living with diagnosed or undiagnosed diabetes in 2018. Among them, around 95% of people are diagnosed with type 2 diabetes.

Analysis By Distribution Channel 
By distribution channel, the report is categorized into online sales, hospital pharmacy, diabetes clinics/centers and retail pharmacy.

Analysis By Region
In the regional outlook of the global smart insulin pens market, North America dominates with the highest share of 32% in 2019. North American region is the significant region globally driving the market share over a forecast period. The rising prevalence of the diabetic population and the high rate of adoption of smart technologies by consumers are the primary growth factors contributing at a regional level. Moreover, the presence of key players in this region positively impacts the smart insulin pen market. The APAC market is anticipated to provide lots of lucrative opportunities during the forecast period due to its high population base and rise in the incidence of diabetic patients. Also, the low cost of the device than the insulin pen further leads to the demand for pens in the region. 

Market Segmentation covered in the Report:

By Product

• Smart Insulin Pens
• Adaptors for Conventional Pens

By Connectivity

• Bluetooth
• USB

By Application

• Type 1 Diabetes
• Type 2 Diabetes

By Distribution Channel

• Hospitals Pharmacy
• Online Sales
• Retail Pharmacy
• Diabetes Clinics/Centers

By Region

• North America
• Europe
• The Asia Pacific
• Latin America
• The Middle East and Africa