Global Smart Insulin Pens Market to Reach US$ 319.5 Million by 2032, Impelled by Increasing Awareness About Benefits of Smart Insulin Pens

April 17, 2023 | Healthcare

According to the latest report by IMARC Group, titled "Smart Insulin Pens Market Report by Type (First Generation Pens, Second Generation Pens), Usability (Prefilled, Reusable), Indication (Type 1 Diabetes, Type 2 Diabetes), Connectivity (Bluetooth, USB), End User (Hospitals and Clinics, Ambulatory Surgical Centers, Home Care Settings), and Region 2024-2032," the global smart insulin pens market reached a value of US$ 131.7 Million in 2023. Smart insulin pens are digital devices that help patients with diabetes manage insulin therapy. They work by allowing patients to track and monitor their insulin doses, making it easier to manage their blood glucose levels. The pens are equipped with Bluetooth or Wi-Fi connectivity, which allows them to be synced with a smartphone app or other electronic device. They offer several advantages over traditional insulin pens. One of the main benefits is that they help reduce the risk of hypoglycemia, a condition where the blood glucose level drops too low as the pens allow patients to monitor their insulin dosages more accurately, which can help prevent over- or under-dosing. In addition, smart pens help patients better understand their insulin requirements, which helps them make more informed decisions about their diabetes management. They offer a range of benefits over traditional insulin pens, including improved accuracy, better data tracking, and greater convenience.

Global Smart Insulin Pens Market Trends:

The global market is primarily driven by the increasing prevalence of diabetes. In line with this, the rapid adoption of digital smart health technologies is significantly contributing to the market growth. Furthermore, the rising need for more personalized diabetes management solutions is positively influencing the market. Apart from this, the presence of well-established healthcare systems and the escalating awareness of diabetes management are catalyzing the market. Moreover, the key players are investing in research and development to develop new and innovative smart insulin pen solutions that help improve diabetes management and patient outcomes. Additionally, the product's remote monitoring and data analysis capabilities and improved patient adherence to insulin therapy are strengthening the product demand. Some of the other factors driving the market growth include the development of user-friendly smart insulin pen devices, an increasing number of collaborations and partnerships between pharmaceutical companies and device manufacturers, heavy investment in research and development activities for diabetes management technologies, and favorable government initiatives to improve diabetes management and reduce healthcare costs. On account of the factors above, the market is anticipated to reach a value of US$ 319.5 Million by 2032, exhibiting a CAGR of 10% during 2024-2032.

Market Summary:

On the basis of the type, the market has been categorized into first generation pens and second generation pens.
Based on usability, the market has been classified into prefilled and reusable.
Based on indication, the market has been segmented into type 1 diabetes and type 2 diabetes.
Based on connectivity, the market has been categorized into Bluetooth and USB.
Based on end user, the market has been classified into hospitals and clinics, ambulatory surgical centers, and home care settings.
On the basis of the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others) and the Middle East and Africa.
The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market. Some of the key players include Bigfoot Biomedical Inc., Digital Medics Pty Ltd., Emperra GmbH E-Health Technologies, Jiangsu Delfu Medical Device Co. Ltd., Medtronic plc, Novo Nordisk A/S, pendiq GmbH, Ypsomed AG.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Million
Segment Coverage	Type, Usability, Indication, Connectivity, End User, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Bigfoot Biomedical Inc., Digital Medics Pty Ltd., Emperra GmbH E-Health Technologies, Jiangsu Delfu Medical Device Co. Ltd., Medtronic plc, Novo Nordisk A/S, pendiq GmbH and Ypsomed AG
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

IMARC Group
134 N 4th St.
Brooklyn, NY 11249, USA
Email: Sales@imarcgroup.com
Americas:- +1 631 791 1145 | Africa and Europe :- +44-753-713-2163 | Asia: +91-120-433-0800

Need more help?

Speak to our experienced analysts for insights on the current market scenarios.
Include additional segments and countries to customize the report as per your requirement.
Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
For further assistance, please connect with our analysts.

Global Smart Insulin Pens Market to Reach US$ 319.5 Million by 2032, Impelled by Increasing Awareness About Benefits of Smart Insulin Pens

Purchase options

Single User License ~~$3899~~ $2999
Five User License ~~$4899~~ $3999
Corporate User License ~~$5899~~ $4999

Inquire Before Buying

Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Speak to an Analyst

Request Brochure

Get in Touch With Us

UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-714-6104

Email: sales@imarcgroup.com

Client Testimonials

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.