Rising Diabetic Patients Pool Prompts High Demand for Smart Insulin Pens, Market Estimated to be valued at US$ 70.4 Mn by 2027 End: TMR

- Smart insulin pens market is slated to expand at an attractive CAGR of 10.3% during 2019–2027. This growth can be attributed to rise in diabetic patients across major parts of the globe.

- Presence of larger patient pool and increased acceptance of advanced technologies makes North America as one of the prominent market regions.

ALBANY, N.Y., June 21, 2021 /PRNewswire/ -- Smart insulin refers to advanced insulin that is capable to respond automatically to varying blood glucose levels. Thus, higher or lower blood sugar levels are, more or less insulin is released, respectively. The insulin is available in the form of pill or injection. The main function of this hormone is to keep the levels of blood glucose normal in the body of an individual.

The experts at Transparency Market Research (TMR) opine that the global smart insulin pens market is likely to gather the valuation of around US$ 70.4 Mn by the end of assessment period 2019­–2027. The market was accounted for about US$ 29.2 Mn in 2018.

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Smart Insulin Pens Market: Key Findings

• Burgeoning Number of Deaths Owing to Diabetes Increases Product Demand

As per the American Diabetes Association, an estimated 30.3 Million populace from the U.S. was suffering from diabetes during 2015. Of them, around 1.25 Million patients were children. Besides, a World Health Organization highlighted approximately 1.6 Million demises owing to diabetes, in 2016. All these statistics emphasize the severity of the disease and the prompt need to address this issue.

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• Growing Adoption of Advanced Technologies Pushes Market Sales

Growing awareness about the health condition has resulted into increased acceptance of various advanced technologies such as incorporation of glucose monitoring devices and therapeutics as well as connected medical devices in order to achieve better diabetes management. This scenario is working as a key driver for fueling the sales numbers in the global smart insulin pens market.

• Players Focus on New Product Launch Activities

The companies engaged in global smart insulin pens market are growing focus on the development of technologically advanced products. As a result, they are seen increasing investments toward the research and development activities.

Explore 251 pages of superlative research, current market scenario, and extensive geographical projections. Gain insights into Smart Insulin Pens Market (Product - Smart Insulin Pen, Adaptors for Conventional Pen; Connectivity Type - Bluetooth, USB; Application - Type 1 Diabetes, Type 2 Diabetes; Distribution Channel - Hospital Pharmacy, Online Sales, Retail Pharmacy, Diabetes Clinics/Centers) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027 at https://www.transparencymarketresearch.com/report-toc/35705

Smart Insulin Pens Market: Growth Boosters

• Smart insulin pens are gaining traction owing to diverse features they offer. Some of the key features of this device include precise dose administration, time and dose recorder, data transfer, and memory function.
• Over the period of past few years, there is noteworthy growth in the patient pool suffering from type 1 and type 2 diabetes. This includes patients of all age groups including children as well as older population. Some of the key reasons for triggering the number of patients are changing lifestyles, changing dietary habits, and obesity. Thus, increasing number of patients with this health issue is boosting the demand avenues in the smart insulin pens market.

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Smart Insulin Pens Market: Competitive Landscape

The nature of the global smart insulin pens market seems to be highly fragmented. Companies engaged in the global market for smart insulin pens are growing efforts to maintain their prominent position in the global smart insulin pens market. As a result, they are seen consistently engaging in various strategic moves such as mergers, acquisitions, partnerships, and collaborations. This scenario is likely to help in the expansion of the market at decent pace in the years to come.

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Smart Insulin Pens Market: Well-Established Participants

The report offers list of well-entrenched as well as new players operating in the global smart insulin pens market. It also performs profiling of all these players. Thus, study provides crucial data such as financial status, research and development activities, revenues, sales, and production of each market player.

Some of the key players profiled in this report are:

• Sanofi (sanofi-aventis US LLC)
• Novo Nordisk A/S
• Companion Medical
• Eli Lilly and Company
• Diabnext
• Emperra GmbH E-Health Technologies
• BERLIN-CHEMIE
• DIAMESCO CO., Ltd.
• Patients Pending Ltd (Bigfoot Biomedical Inc.)
• Jiangsu Delfu medical device Co., Ltd

Explore Transparency Market Research's award-winning coverage of the global Healthcare Industry:

Diabetes Devices Market: https://www.transparencymarketresearch.com/diabetes-devices-market.html

Insulin Pen Needles Market: https://www.transparencymarketresearch.com/global-insulin-pen-needles-market.html

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