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According to Stratistics MRC, the Global Smart Insulin Pens Market is accounted for $58 million in 2016 and expected to grow at a CAGR of 12.2% to reach $130 million by 2023. Factors influencing the market growth are concerns for continuous glucose monitoring, introducing devices with smart connectivity and increasing diabetic patient pool. In addition, demand for personalized or patient centric devices and preventing the needle stick injury provide opportunity for the market. However, blood sugar control is the most challenging aspect as well as security concern and high costs of smart pens are restraining the market growth.
Based on type, Bluetooth connected smart insulin pens logs injected insulin doses directly to the patient's digital blood glucose through the Bluetooth wireless interface. The software records each dose accurately and transfers readings into MRAM, and waits for activation of the Bluetooth Smart radio. If, the insulin delivery data doesn't transfer to the phone then, it's stored in the pen, gets ready for the next attempt as soon as the capacitor is recharged. Bluetooth Smart SoC is a unique and effective concept for insulin delivery pens. The pen has combination with other electronic tools, which can lead to glucose control accessible and affordable, which in turn assists in reducing complications and helps patients lead longer lives. BULE or Bluetooth Smart technology provides secure 128 bit encrypted data transfer capabilities.
North America dominated the smart insulin pens market owing to high persistence of obsolete syringe technology and rising prevalence of diabetes. However, Asia Pacific is the fastest growing market due to increase in prevalence with age and provides new treatment opportunities.
Some of the key players in the Global Smart Insulin Pens market are Companion Medical Inc, Digital Medics Ptd Ltd, Eli Lilly and Company, Novo Nordisk A/S, DIAMESCO, Roche, Insulet, Cardiocomm Solutions, BioSampling, Megasan Medical, Emperra GmbH EHealth Technologies, Nipro, Jiangsu Delfu medical device Co.,Ltd and Sanofi Diabetes.
Diabetes Type I
Diabetes Type II
Second Generation Pens
o USB connected pens
o Bluetoothenabled pens
First Generation Pens
Distribution Channels Covered:
Ambulatory Surgical Centers
Home Care Settings
o Rest of Europe
o New Zealand
o South Korea
o Rest of Asia Pacific
o Rest of South America
Middle East Africa
o Saudi Arabia
o South Africa
o Rest of Middle East Africa
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Market share analysis of the top industry players
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Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets
Market Trends Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations
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