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The smart insulin pens market is forecasted to achieve significant growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 6%, as per The Business Research Company’s market report!

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The Smart Insulin Pens Market Size In 2022 And Forecast

The global smart insulin pens market grew from $0.09 billion in 2021 to $0.09 billion in 2022 at a compound annual growth rate (CAGR) of 7.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The smart insulin pens market is expected to grow to $0.12 billion in 2026 at a CAGR of 6.1%.

The smart insulin pens market consists of sales of smart insulin pens which allows to dial the insulin dose accurately and related products.

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Accurate Dose Of Insulin Increase The Demand For Smart Insulin Pens Is Driving The Growth Of The Smart Insulin Pens Market

For kids who need to take insulin during school time and visually impaired diabetic patients, an accurate dose of insulin can even be pre-set over the dosage dial which helps inaccurate delivery of dose at the time of injection. Echo Plus by Novo Nordisk which is a pediatric-friendly insulin pen allows even half-unit dosing with a maximum of 30 units. HumaPen Luxura HD from Lilly allows the delivery of insulin in half-unit increments and NovoPen Junior – Insulin Pen by Novo Nordisk can deliver highly accurate doses of insulin and finely adjusts small doses even half-unit increments. The accurate adjustments and delivery of doses of insulin can avoid either over-dosing or low-dosing of the drug which is expected to increase the demand for smart insulin pens and drive the market growth.

Competitive Landscape And The Regional Analysis Of The Smart Insulin Pens Market

Major players in the smart insulin pens market are Companion Medical, Eli Lilly and Company, Novo Nordisk A/S, Diamesco Co. Ltd., Emperra GmbH E-Health Technologies, Digital Medics Pvt Ltd., F. Hoffmann-La Roche AG, Insulet Corporation, Jiangsu Delfu medical device Co. Ltd., and Bigfoot Biomedical.

Additionally, as per TBRC’s research – North America was the largest region in the smart insulin pens market in 2021 holding the largest market share.

The Smart Insulin Pens Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the smart insulin pens market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the smart insulin pens market.

Next Generation Of Smart Insulin Pens – A Key Trend In The Smart Insulin Pens Market

The next generation of smart insulin pens goes far beyond memory storage. They help in calculating personalized doses, track glucose continuously, and connect with apps of smartphones to visualize the data.

Smart Insulin Pens Market Segmentation By The Business Research Company

1) By Type: First Generation Pens, Second Generation Pens (Bluetooth Enabled, USB Connected)

2) By End User: Hospitals & Clinics, Ambulatory Surgical Centres, Home Care Settings

3) By Usability: Prefilled, Reusable

4) By Application: Type 1 Diabetes, Type 2 Diabetes

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