Smart Insulin Pens Market Analysis, Segments, Growth and Value Chain 2016-2026
Diabetes is a metabolic disease in which a person is suffering from high blood sugar or high blood glucose owing to inadequate response to insulin by the body. Patients with high blood glucose will experience symptoms of frequent urination or polyuria, disproportionate thirst, fatigue, slow healing of wounds and intense hunger. According to National Health and Nutrition Examination Survey 2012, around 11.2 million people aged 65 and above are suffering from diabetes which account for 26% of the U.S. population. There are various treatments available to overcome diabetes. Insulin pens are alternative to traditional syringe method to inject insulin. Moving towards the advanced high-technology for managing diabetes condition new feature is added to smart insulin pen devices with inbuilt Bluetooth feature in insulin pens which enables patients to track their doses, send alerts and reminders, and can transfer the insulin data to a smartphone. In addition to that, a smartphone app is also developed and are compatible with other Bluetooth devices which help in sharing the data for the most complete picture of blood sugar level for patients who prefer latest technology solution and immediate data for self-management. Smart insulin pens also help in transfer the insulin data wirelessly and made visible to physicians and patients who want an easy solution and still not willing to use smartphones or other devices.
Smart Insulin Pens Market: Drivers and Restraints
Smart insulin pens market is witnessing a maximum growth owing to increase in prevalence of diabetes among geriatric population, technology advancement in insulin delivery, accuracy with the device and awareness about diabetes care. Also, the surge in the adoption of smartphones to have data available at every point of time that simplify the treatment leads to the surge in mobile health technologies and services is expected to expand the smart insulin pens market during the forecast period. However, the cost of the pen is high compared to syringes, alternative treatment options, lack of dose flexibility for what patient need and device inaccuracy may hamper the growth of smart insulin pens market.
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Smart Insulin Pens Market: Segmentation
The smart insulin pens market has been classified on the basis of product, application and end user.
Based on products, the smart insulin pens market is segmented into the following:
- Reusable/ Durable Insulin Pens
- Prefilled/ Disposable Insulin Pens
- Insulin Cartridge
- Pen Needles
- Timesulin Pen Cap
Based on Fabrication Material, the smart insulin pens market is segmented into the following:
Based on Technology, the smart insulin pens market is segmented into the following:
- Spring loaded
- Jet Injectors
Based on end users, the Smart Insulin Pens Market is segmented into the following:
- Hospital Pharmacies
- Retail Pharmacies
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Smart Insulin Pens Market: Overview
With the rapid increase in the modern high-technology and e-healthcare services include healthcare apps on smartphone devices which help patients with dose reminders or alerts to witness the growth of smart insulin pens market in near future. Moreover, with an increase in the healthcare infrastructures for patients suffering from diabetes, an advanced wireless technology that transmits data to a mobile app, positive outcomes of devices, digitalization of diabetes management and wide acceptance of device among patients exhibits the growth of smart insulin pens in near future.
Smart Insulin Pens Market: Region-wise Outlook
Depending on the geographic region, Smart Insulin Pens Market is segmented into seven key regions: North America, Latin America, Eastern Europe, Western Europe, Asia-Pacific, Japan, and the Middle East & Africa. North America held the largest share in the Smart Insulin Pens Market followed by Europe, Japan, and Asia Pacific owing to the high prevalence of diabetes, growing aging population, reimbursement for treatment by health insurance companies and developed healthcare infrastructure. The developing nations in Asia Pacific, the Middle East and Africa hold huge potential for growth in the smart insulin pens market, due to increasing in the acceptance of insulin pens among diabetic patients which reduces dependency on others and increasing prevalence and awareness about diabetes.
Smart Insulin Pens Market: Key Players
Key players of Smart Insulin Pens Market are Emperra GmbH, Jiangsu Delfu medical device Co.,Ltd, Eli Lilly and Company, Novo Nordisk A/S and Digital Medics Ptd Ltd and Vigihealth.
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