Smart Insulin Pens Market: Current Analysis and Forecast (2021 - 2027)

Smart Insulin Pens Market: Current Analysis and Forecast (2021 - 2027)

  • UnivDatos Market Insight
  • July 2021
  • Healthcare
  • 121 pages

Report Description

Smart insulin pens are used for external insulin delivery thus offering an easy to carry solution to diabetes management. The demand for the insulin pens has increased considerably in the recent years owing to the increase in incidence of diabetic patients coupled with their cost-effective nature as compared to insulin pumps.

Smart insulin pens offer several benefits as compared to other insulin delivery devices such as it is easier to use than syringe and being portable in nature, can be easily used outside home. In addition, the pen allows to dial the dose accurately, which helps the people with vision problems to administer insulin easily. Increasing prevalence of diabetes among the population, rising government initiatives and widening margins of healthcare spending are some of the factors significantly impacting the demand of smart diabetes management solutions. However, stringent government regulatory policies and long, tedious approval procedure, lack of healthcare infrastructure and unavailability of resources to support R&D work in poor countries has been restricting the growth of smart insulin pens market

Based on types, the market is fragmented into first generation and second-generation devices. The second-generation segment generated revenue of USD XX million in 2020. The market is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX million by 2027F owing to its easy portability and wireless connectivity

Based on the end-users, the market is fragmented into hospitals, ambulatory surgery centers, and home care settings. The homecare settings segment on account of increasing geriatric population and rise self-administration among patients has generated revenue of USD XX million in 2020 and is anticipated to reach USD XX million by the year 2027F, growing at a CAGR of XX% over the forecast period (2021-2027)

Based on the distribution channel, the market is fragmented into hospital pharmacy, online sales, retail pharmacy, and diabetes clinics/centres. The retail pharmacy segment generated revenue of USD XX million in 2020 and is anticipated to reach USD XX million by the year 2027F, growing at a CAGR of XX% over the forecast period (2021-2027)

For a better understanding of the market adoption of the Single Pair Ethernet market, the market is analyzed based on its worldwide penetration in the countries such as North America (United States, Canada, and Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America constitutes a major market for the Smart Insulin Pens industry and generated revenue of USD XX million in 2020 owing to the high prevalence for diabetes. The North American and Caribbean region spent some 325 billion U.S. dollars on health care for people with diabetes in 2019. However, the Asia Pacific region would grow at the highest CAGR during the forecast period due to its high population base and increase in incidence of diabetic patients

Some of the major players operating in the market include Eli Lilly and Company, Novo Nordisk, Companion Medical, DIAMESCO, Emperra GmbH, Companion Medical, Ypsomed holding AG, F. Hoffmann-La Roche AG, Insulet Corporation, Jiangsu Delfu medical device Co., Medtronics, etc. Several M&A’s along with partnerships have been undertaken by these players to boost their presence in different regions

Smart insulin pens are employed for external insulin delivery, providing a convenient option to diabetes treatment. Insulin pens is observing a significant growth in demand in recent years, owing to an increase in the number of diabetic patients, as well as their cost-effectiveness when compared to insulin pumps. Diabetes affected 463 million people worldwide in 2019, accounting for 9.3% of the global adult population (20–79 years). In 2030, this number is predicted to rise to 578 million (10.2%) and 700 million (10.9%) in 2045. In 2019, the prevalence of diabetes was expected to be 9.0 percent in women and 9.6 percent in men. Diabetes prevalence rises with age, with a prevalence of 19.9% (111.2 million) in adults aged 65-79 years. Smart insulin pens have various advantages over other insulin administration devices, including being easier to use than a syringe and being portable enough to be used outside the home.

In South-East Asia, nearly 600,000 persons died before the age of 60 because of diabetes in 2019, whereas the Western Pacific experienced about 480,000 diabetes-related deaths. These regions also have the highest number of people aged 20 to 79 who have undiagnosed diabetes: the Western Pacific region had nearly 91 million undiagnosed diabetes cases in 2019, whereas approximately 50 million Southeast Asians had undiagnosed diabetes. These reasons have caused rise in awareness among individuals and is expected to drive the growth of the market. Furthermore, increase in per capita healthcare spending has positively impacted the sale of insulin pumps. For instance, according to OECD data from 2019, the United States had the highest per capita GDP at 17%, followed by Switzerland and Germany at 12.1% and 11.7%, respectively. The market for Smart Insulin Pens is predicted to grow due to improvements in healthcare.

Eli Lilly and Company, Novo Nordisk, DIAMESCO, Emperra GmbH, Ypsomed holding AG, F. Hoffmann-La Roche AG, Insulet Corporation, Jiangsu Delfu medical device Co., and Medtronics are some of the prominent players operating in the global Smart Insulin Pens market. Several M&A’s along with partnerships have been undertaken by these players to facilitate costumers with hi-tech and innovative products.

Insights Presented in the Report

“Amongst Type, Second Generation segment holds the major share”

Based on the therapy type, the market is fragmented into first and second generation. The second- generation segment on account of increasing geriatric population and rise self-administration among patients dominated the market with a share of XX% in 2020 and is expected to maintain its dominance during the forecast period owing to owing to its easy portability and wireless connectivity.

“Amongst Usability, Pre-filled is anticipated to grow at the highest CAGR during the analyzed period”

Based on usability, the market is fragmented into Pre-filled and Reusable. In 2020, home care settings accounted for a maximum market revenue share of XX% and is expected to remain dominant during the analyzed period. 

Amongst End-User, Homecare Setting segment holds the major share”

Based on end-user, the market is fragmented into hospitals, ambulatory surgery centers, and home care settings. In 2020, home care settings accounted for a maximum market revenue share of XX% and is expected to remain dominant during the analyzed period. 

“North America signifies one of the largest markets of Smart Insulin Pens Market”

For a better understanding of the market dynamics of the Smart Insulin Pens market, a detailed analysis was conducted for different regions across the globe including North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and Rest of APAC), Rest of World has been conducted. North America dominated the market and generated revenue of USD XX million in 2020. The North American and Caribbean region spent some 325 billion U.S. dollars on health care for people with diabetes in 2019. However, the Asia Pacific region would grow at the highest CAGR during the forecast period due to its high population base and increase in incidence of diabetic patients.

Reasons to buy this report:

  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts
  • The report presents a quick review of overall industry performance at one glance
  • The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
  • The study comprehensively covers the market across different segments
  • Deep dive regional level analysis of the industry

Customization Options:

Smart Insulin Pens Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

Companies Covered

  • Eli Lilly and Company
  • Novo Nordisk
  • DIAMESCO
  • Emperra GmbH
  • Ypsomed holding AG
  • F. Hoffmann-La Roche AG
  • Insulet Corporation
  • Jiangsu Delfu medical device Co.
  • Medtronics

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Table of Content

1 MARKET INTRODUCTION
1.1 Market Definitions
1.2 Objective of the Study
1.3 Limitation
1.4 Stake Holders
1.5 Currency Used in Report
1.6 Scope of the Global Smart Insulin Pens Market Study

2 RESEARCH METHODOLOGY OR ASSUMPTION
2.1 Research Methodology for the Global Smart Insulin Pens Market
2.1.1 Main Objective of the Global Smart Insulin Pens Market

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 TOP START-UPs UNDER SMART INSULIN PENS INDUSTRY

6 COVID-19 IMPACT

7 GLOBAL SMART INSULIN PENS MARKET REVENUE

8 MARKET INSIGHTS BY TYPE

8.1 First Generation
8.2 Second Generation

9 MARKET INSIGHTS BY USABILITY
9.1 Pre-Filled
9.2 Reusable

10 MARKET INSIGHTS BY END-USER
10.1 Hospitals
10.2 Ambulatory Surgery Centers
10.3 Homecare Settings

11 MARKET INSIGHTS BY REGION
11.1 NORTH AMERICA SMART INSULIN PENS MARKET
11.1.1 United States
11.1.2 Canada
11.1.3 Rest of North America
11.2 EUROPE SMART INSULIN PENS MARKET
11.2.1 Germany
11.2.2 France
11.2.3 United Kingdom
11.2.4 Spain
11.2.5 Italy
11.2.6 Rest of Europe
11.3 ASIA PACIFIC SMART INSULIN PENS MARKET
11.3.1 China
11.3.2 Japan
11.3.3 India
11.3.4 Australia
11.3.5 South Korea
11.3.6 Rest of Asia Pacific
11.4 REST OF THE WORLD SMART INSULIN PENS MARKET

12 SMART INSULIN PENS MARKET DYNAMICS
12.1 Market Drivers
12.2 Market Challenges
12.3 Impact Analysis

13 LEGAL & REGULATORY FRAMEWORK

14 DEMAND AND SUPPLY SIDE ANALYSIS

14.1 Demand Side Analysis
14.2 Supply Side Analysis
14.2.1 Top Product Launches
14.2.2 Top Business Partnerships
14.2.3 Top Merger & Acquisitions
15 VALUE CHAIN ANALYSIS

16 SMART INSULIN PENS MARKET OPPORTUNITIES

17 SMART INSULIN PENS MARKET TRENDS & INSIGHTS

18 COMPETITIVE SCENARIO

18.1 Porter’s Five forces analysis
18.1.1 Bargaining power of Supplier
18.1.2 Bargaining power of Buyer
18.1.3 Industry Rivalry
18.1.4 Availability of Substitute
18.1.5 Threat of new Entrants

19 COMPANY PROFILED
19.1 Medtronics
19.1.1 Key Facts
19.1.2 Business Description
19.1.3 Key Product/Services Offerings
19.1.4 Growth Strategy
19.1.5 SWOT Analysis
19.1.6 Key Financials
19.1.6.1 Revenue Split
19.1.6.2 Financial Overview of Medtronics
19.1.7 Recent Developments
19.1.7.1 Product Launch
19.1.7.2 Partnerships
19.1.7.3 Business Expansion and Investments
19.1.7.4 Merger and Acquisition
19.2 Eli Lilly and Company
19.3 Novo Nordisk
19.4 Companion Medical, DIAMESCO
19.5 Emperra GmbH
19.6 Companion Medical
19.7 Ypsomed holding AG
19.8 F. Hoffmann-La Roche AG
19.9 Insulet Corporation
19.10 Snuza International

20 DISCLAIMER

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