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Global Smart Insulin Pens Market Report By Product (Smart insulin pens, Adaptors for conventional pens), 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, 2021-2028
ID:VMR11213952
April 2021
Report Formats: Electronic (PDF), MS EXCEL
Global Smart Insulin Pens Market Overview
The global smart insulin pens market size was valued at USD 81.5 million by 2019 and expected to reach over USD 145 million in 2027with a CAGR of 8.5% during the forecast period of 2020-2026. 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 Sanofi (Sanofi-Aventis US LLC), Novo Nordisk A/S, Companion Medical, Eli Lilly and Company, Jiangsu Delfu medical device Co, Emperra GmbH E-Health Technologies, Diabnext, BERLIN-CHEMIE, Patients Pending Ltd (Bigfoot Biomedical Inc.), DIAMESCO CO., Ltd., 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
By Application
By Distribution Channel
By Region
The global smart insulin pens market size was valued at USD 81.5 million by 2019 and expected to reach over USD 145 million in 2027with a CAGR of 8.5% during the forecast period of 2020-2026. 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 Sanofi (Sanofi-Aventis US LLC), Novo Nordisk A/S, Companion Medical, Eli Lilly and Company, Jiangsu Delfu medical device Co, Emperra GmbH E-Health Technologies, Diabnext, BERLIN-CHEMIE, Patients Pending Ltd (Bigfoot Biomedical Inc.), DIAMESCO CO., Ltd., 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 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
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TABLE OF CONTENTS
1 . PREFACE
1.1. Report Description
1.1.1. Objective
1.1.2. Target Audience
1.1.3. Unique Selling Proposition (USP) & offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Market Research Process
1.3.2. Market Research Methodology
2 . EXECUTIVE SUMMARY
2.1. Highlights of Market
2.2. Global Market Snapshot
3 . SMART INSULIN PENS – INDUSTRY ANALYSIS
3.1. Introduction - Market Dynamics
3.2. Market Drivers
3.3. Market Restraints
3.4. Opportunities
3.5. Industry Trends
3.6. Porter’s Five Force Analysis
3.7. Market Attractiveness Analysis
3.7.1 By Product
3.7.2 By Application
3.7.3 By Distribution Channel
3.7.4 By Region
4 . VALUE CHAIN ANALYSIS
4.1. Value Chain Analysis
4.2. Raw Material Analysis
4.2.1. List of Raw Materials
4.2.2. Raw Material Manufactures List
4.2.3. Price Trend of Key Raw Materials
4.3. List of Potential Buyers
4.4. Marketing Channel
4.4.1. Direct Marketing
4.4.2. Indirect Marketing
4.4.3. Marketing Channel Development Trend
5 . IMPACT ANALYSIS OF COVID-19 OUTBREAK
5.1. Impact Analysis of Covid-19 Outbreak
5.1.1. Direct Impact on Production
5.1.2. Supply Chain and Market Disruption
5.1.3. Financial Impact on Firms and Financial Markets
5.2. COVID-19 Impact Analysis by Production, Import, Export and Demand
5.3. Market: Pre V/S Post COVID-19
5.4. Estimated Impact of the Coronavirus (COVID-19) Epidemic
5.5. COVID-19: Micro and Macro Factor Analysis
6 . GLOBAL SMART INSULIN PENS MARKET ANALYSIS BY PRODUCT
6.1 Overview by Product
6.2 Historical and Forecast Data
6.3 Analysis by Product
6.4 Smart insulin pens Market by Regions
6.6 Adaptors for conventional pens Market by Regions
7 . GLOBAL SMART INSULIN PENS MARKET ANALYSIS BY APPLICATION
7.1 Overview by Application
7.2 Historical and Forecast Data
7.3 Analysis by Application
7.4 Type 1 diabetes Market by Regions
7.5 Type 2 diabetes Market by Regions
8 . GLOBAL SMART INSULIN PENS MARKET ANALYSIS BY DISTRIBUTION CHANNEL
8.1 Overview by Distribution Channel
8.2 Historical and Forecast Data
8.3 Analysis by Distribution Channel
8.4 Hospitals pharmacy Market by Regions
8.5 Online sales Market by Regions
8.6 Retail pharmacy Market by Regions
8.7 Diabetes clinics/centers Market by Regions
9 . GLOBAL SMART INSULIN PENS MARKET ANALYSIS BY GEOGRAPHY
9.1. Regional Outlook
9.2. Introduction
9.3. North America
9.3.1. Overview, Historic and Forecast Data
9.3.2. North America By Segment
9.3.3. North America By Country
9.3.4. United State
9.3.5. Canada
9.3.6. Mexico
9.4. Europe
9.4.1. Overview, Historic and Forecast Data
9.4.2. Europe by Segment
9.4.3. Europe by Country
9.4.4. United Kingdom
9.4.5. France
9.4.6. Germany
9.4.7. Italy
9.4.8. Russia
9.4.9. Rest Of Europe
9.5. Asia Pacific
9.5.1. Overview, Historic and Forecast Data
9.5.2. Asia Pacific by Segment
9.5.3. Asia Pacific by Country
9.5.4. China
9.5.5. India
9.5.6. Japan
9.5.7. South Korea
9.5.8. Australia
9.5.9. Rest Of Asia Pacific
9.6. Latin America
9.6.1. Overview, Historic and Forecast Data
9.6.2. Latin America by Segment
9.6.3. Latin America by Country
9.6.4. Brazil
9.6.5. Argentina
9.6.6. Peru
9.6.7. Chile
9.6.8. Rest of Latin America
9.7. Middle East & Africa
9.7.1. Overview, Historic and Forecast Data
9.7.2. Middle East & Africa by Segment
9.7.3. Middle East & Africa by Country
9.7.4. Saudi Arabia
9.7.5. UAE
9.7.6. Israel
9.7.7. South Africa
9.7.8. Rest Of Middle East And Africa
10 . COMPETITIVE LANDSCAPE OF THE SMART INSULIN PENS COMPANIES
10.1. Smart Insulin Pens Market Competition
10.2. Partnership/Collaboration/Agreement
10.3. Merger And Acquisitions
10.4. New Product Launch
10.5. Other Developments
11 . COMPANY PROFILES OF SMART INSULIN PENS INDUSTRY
11.1. Company Share Analysis
11.2. Market Concentration Rate
11.3. Sanofi (Sanofi-Aventis US LLC)
11.3.1. Company Overview
11.3.2. Financials
11.3.3. Products
11.3.4. Recent Developments
11.4. Novo Nordisk A/S
11.4.1. Company Overview
11.4.2. Financials
11.4.3. Products
11.4.4. Recent Developments
11.5. Companion Medical
11.5.1. Company Overview
11.5.2. Financials
11.5.3. Products
11.5.4. Recent Developments
11.6. Eli Lilly and Company
11.6.1. Company Overview
11.6.2. Financials
11.6.3. Products
11.6.4. Recent Developments
11.7. Jiangsu Delfu medical device Co
11.7.1. Company Overview
11.7.2. Financials
11.7.3. Products
11.7.4. Recent Developments
11.8. Emperra GmbH E-Health Technologies
11.8.1. Company Overview
11.8.2. Financials
11.8.3. Products
11.8.4. Recent Developments
11.9. Diabnext
11.9.1. Company Overview
11.9.2. Financials
11.9.3. Products
11.9.4. Recent Developments
11.10. BERLIN-CHEMIE
11.10.1. Company Overview
11.10.2. Financials
11.10.3. Products
11.10.4. Recent Developments
11.11. Patients Pending Ltd
11.11.1. Company Overview
11.11.2. Financials
11.11.3. Products
11.11.4. Recent Developments
11.12. (Bigfoot Biomedical Inc.)
11.12.1. Company Overview
11.12.2. Financials
11.12.3. Products
11.12.4. Recent Developments
11.13. DIAMESCO CO., Ltd.
11.13.1. Company Overview
11.13.2. Financials
11.13.3. Products
11.13.4. Recent Developments
*Note - in company profiling, financial details and recent development are subject to availability or might not be covered in case of private companies
LIST OF TABLES
- Market Snapshot
- Drivers : Impact Analysis
- Restraints : Impact Analysis
- List of Raw Material
- List of Raw Material Manufactures
- List of Potential Buyers
- COVID-19 Impact Analysis by Production, Import, Export and Demand
- Pre V/S Post COVID-19
- Estimated Impact Of The Coronavirus (Covid-19) Epidemic
- COVID-19: Micro and Macro Factor Analysis
- Analysis by Product (USD MN)
- Smart insulin pens Market by Geography (USD MN)
- Adaptors for conventional pens Market by Geography (USD MN)
- Analysis Market by Application (USD MN)
- Type 1 diabetes Market by Geography (USD MN)
- Type 2 diabetes Market by Geography (USD MN)
- Analysis by Distribution Channel (USD MN)
- Hospitals pharmacy Market by Geography (USD MN)
- Online sales Market by Geography (USD MN)
- Retail pharmacy Market by Geography (USD MN)
- Diabetes clinics/centers Market by Geography (USD MN)
- Global Smart Insulin Pens Market by Geography (USD MN)
- North America Market Analysis (USD MN)
- United State Market Analysis (USD MN)
- Canada Market Analysis (USD MN)
- Mexico Market Analysis (USD MN)
- Europe Market Analysis (USD MN)
- Europe Market Estimate by Country (USD MN)
- United Kingdom Market Analysis (USD MN)
- France Market Analysis (USD MN)
- Germany Market Analysis (USD MN)
- Italy Market Analysis (USD MN)
- Russia Market Analysis (USD MN)
- Spain Market Analysis (USD MN)
- Rest of Europe Market Analysis (USD MN)
- Asia Pacific Market Analysis (USD MN)
- China Market Analysis (USD MN)
- Japan Market Analysis (USD MN)
- India Market Analysis (USD MN)
- South Korea Market Analysis (USD MN)
- Australia Market Analysis (USD MN)
- Rest of Asia Pacific Market Analysis (USD MN)
- Latin America Market Analysis (USD MN)
- Brazil Market Analysis (USD MN)
- Argentina Market Analysis (USD MN)
- Peru Market Analysis (USD MN)
- Chile Market Analysis (USD MN)
- Rest of Latin America Market Analysis (USD MN)
- Middle East & Africa Market Analysis (USD MN)
- Saudi Arabia Market Analysis (USD MN)
- UAE Market Analysis (USD MN)
- Israel Market Analysis (USD MN)
- South Africa Market Analysis (USD MN)
- Rest of Middle East and Africa Market Analysis (USD MN)
- Partnership/Collaboration/Agreement
- Mergers And Acquisiton
LIST OF FIGURES
- Research Scope of Smart Insulin Pens Report
- Market Research Process
- Market Research Methodology
- Global Smart Insulin Pens Market Size, by Region (USD MN)
- Porters Five Forces Analysis
- Market Attractiveness Analysis by Product
- Market Attractiveness Analysis by Application
- Market Attractiveness Analysis by Distribution Channel
- Market Attractiveness Analysis by Region
- Value Chain Analysis
- Global Market Analysis by Product (USD MN)
- Smart insulin pens Market by Geography (USD MN)
- Adaptors for conventional pens Market by Geography (USD MN)
- Global Market Analysis by Application (USD MN)
- Type 1 diabetes Market by Geography (USD MN)
- Type 2 diabetes Market by Geography (USD MN)
- Global Market Analysis by Distribution Channel (USD MN)
- Hospitals pharmacy Market by Geography (USD MN)
- Online sales Market by Geography (USD MN)
- Retail pharmacy Market by Geography (USD MN)
- Diabetes clinics/centers Market by Geography (USD MN)
- Global Market by Revenue
- North America Market by Revenue
- Europe Market by Revenue
- Asia Pacific Market by Revenue
- Latin America Market by Revenue
- Middle East & Africa Market by Revenue
- Recent Development in Industry
- Company Market Share Analysis
* Kindly note that the above listed are the basic tables and figures of the report and are not limited to the TOC.
Related Categories
Medical Devices
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Objectives of Study
- Define and measure the global market
- Volume or revenue forecast of the global market and its various sub-segments with respect to main geographies
- Analyze and identify major market trends along with the factors driving or inhibiting the market growth
- Study the company profiles of the major market players with their market share
- Analyze competitive developments