Westford USA, July 03, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest, the increasing awareness among the general population regarding the advantages of smart insulin pens has become a significant driving force for the smart insulin pens market. Smart insulin pens offer precise half-unit dosing, ensuring accurate insulin delivery for patients with diabetes. This feature eliminates the risk of underdosing or overdosing, promoting better glycemic control.
Browse in-depth TOC on the "Smart Insulin Pens Market."
- Pages - 242
- Tables - 143
- Figures – 77
A smart insulin pen market is a revolutionary device designed to assist patients with diabetes in effectively managing their insulin delivery. Unlike traditional insulin pens, the smart insulin pen incorporates advanced technology and integrates with a smartphone app to enhance features and functionalities.
Report Scope & Segmentation:
| Attributes | Details |
| Market Size in 2022 | USD 106.23 million |
| 2030 Value Projection | USD 264.9 million |
| CAGR | 12.1% |
| Forecast Period | 2023-2030 |
| Segments Covered |
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| Regions Covered |
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Prominent Players in the Smart Insulin Pens Market
- Emperra GmbH
- Novo Nordisk A/S
- Medtronic plc
- Eli Lilly and Company
- Sanofi S.A.
- Companion Medical Inc.
- Diabnext
- Insulet Corporation
- Pendiq GmbH
- Digital Medics Pty Ltd.
- F. Hoffmann-La Roche AG
- Ypsomed AG
- Common Sensing Inc.
- InjexUK Ltd.
- Diamesco Co., Ltd.
- Nipro Corporation
- Jiangsu Delfu Co., Ltd.
- Wockhardt Ltd.
- Biocon Ltd.
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Ambulatory Surgical Centers segment are Expected to Grow in the Market Due to their Emphasis on Delivering High-Quality Care to Patients
The ambulatory surgical centers segment is projected to witness moderate growth in the smart insulin pens market during the forecast period due to its emphasis on delivering high-quality care to patients. These centers have advanced facilities and medical technology, enabling them to provide comprehensive medical services without a traditional hospital or clinic setting.
The markets in North America emerged as a significant contributor to the global smart insulin pens market, capturing a major share. This can be attributed to several factors, including the presence of key market players and a high rate of technology adoption in the region. North America boasts a robust healthcare infrastructure and advanced healthcare systems, contributing to the widespread adoption of innovative medical technologies such as smart insulin pens.
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Home Care Settings Segment is Expected to Dominate the Market Due to the Growing Aging Population
The home care settings segment is anticipated to experience the highest growth rate in the smart insulin pens market during the forecast period. This can be attributed to several factors, including the increasing global population of elderly individuals. As the ageing population continues to grow, there is a rising demand for healthcare services that can be provided in the comfort and convenience of one's home.
Regional markets in the Asia Pacific are expected to witness gradual growth in the smart insulin pens market over the forecast period. This growth can be attributed to several factors, including the presence of an ageing population that is more prone to diabetes diagnoses.
A comprehensive analysis of the major players in the smart insulin pens market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in the Smart Insulin Pens Market
- In 2022, Eli Lilly and Abbott, made significant advancements in diabetes management technology. Eli Lilly launched a diabetes platform to monitor blood sugar levels and track insulin pen usage. This platform aims to provide individuals with diabetes with a comprehensive solution for managing their condition, allowing them to monitor their blood sugar levels better and ensure proper insulin administration. The platform combines innovative technology with user-friendly features to improve the overall diabetes management experience.
- Abbott recently introduced an integrated digital solution in the UK specifically for individuals with diabetes. The solution includes the FreeStyle LibreLink app, which is compatible with Novo Nordisk's smart-connected insulin pen. This integration enables seamless connectivity between the insulin pen and the app, allowing users to easily track and monitor their insulin doses, glucose levels, and other vital data.
Key Questions Answered in Smart Insulin Pens Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
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