Global Smart Insulin Pens Market Research Report—Forecast till 2027

Global Smart Insulin Pens Market Research Report—Forecast till 2027

Market Overview
Global Smart Insulin Pens Market accounted for USD 72.97 Million in 2019 and is evaluated to exhibit a CAGR of 10.77% during the projected timeframe of 2020 to 2027. The advanced technologies and inventions in the healthcare sector have led to the evolution of smart insulin pens. It is beneficial for both patients’ poor insulin adherence, incorrect insulin initiation, and medication errors. These pens are used for external insulin delivery and offer an accessible solution to diabetes management. The adoption of smart insulin pens is increasing owing to the growing prevalence of diabetic patients, user-friendly operation, and the economic option as compared to insulin pumps.
Global Smart Insulin Pens Market is expected to witness a tremendous surge during the review period owing to the rising cases of diabetes, increasing product launches and approvals, growing geriatric population, sedentary lifestyle, and unhealthy diet, and increasing awareness and funding for the treatment of diabetes. As per the International Diabetes Federation (IDF), more than 1.1 million children and adolescents were living with type 1 diabetes worldwide in 2019. However, the increasing adoption of non-invasive drug delivery systems is expected to restrain market growth during the review period.
Market Segmentation
Global Smart Insulin Pens Market has been bifurcated based on Product Type and End User.
Based on product type, the market is categorized into a smartpen and connecting device.
By end-user category, the market is segmented into hospital/retail pharmacies and online.
Regional Analysis
Geographically, Global Smart Insulin Pens Market has been classified into the Americas, Europe, Asia-Pacific, and Middle East & Africa.
The Americas is likely to drive the biggest market owing to the faster uptake of medicines & diagnostic measures by affected patients, and the advanced medical device industry in the region. Furthermore, the regional market growth is driven by various growth strategies, such as partnerships, collaborations, and advancement in the field of disease management creates awareness of products in medical professionals and patients. Europe is expected to drive the second-largest market share of the global smart insulin pens market followed by Asia-Pacific. The regional market growth is expected to drive the new product approvals and the existence of well-established healthcare infrastructure in many European countries.
Asia-Pacific is expected to be the fastest-growing market in the global market due to the increasing penetration of the diagnostic health sector, increasing awareness regarding pen needles, the rising number of a campaigns associated with smart insulin pens, and the rising prevalence of diabetes patients in this region. The smart insulin pens market in Middle East & Africa is estimated to witness stable market expansion during the study period owing to rising strategic initiatives by private and public firms and organizations.
Major Players
The Key Players in the Global Smart Insulin Pens Market are Companion Medical, Eli Lily and Company, Diamesco Co., Ltd., Ypsomed Holding AG, Emperra GmbH E-Health Technologies, Digital Medics Pty Ltd. and Novo Nordisk A/S.

COVID 19 Impacts
We are continuously tracking the impact of COVID-19 pandemic on various industries and verticals within all domains. Our research reports include the same and help you understand the drop and rise, owing to the impact of COVID-19 on the industries. Also, we help you to identify the gap between the demand and supply of your interested market. Moreover, the report helps you with the analysis, amended government regulations, and many other useful insights.

TABLE OF CONTENT
1 EXECUTIVE SUMMARY
2 MARKET INTRODUCTION
2.1 DEFINITION 12

2.2 SCOPE OF THE STUDY 12

2.3 RESEARCH OBJECTIVE 12

2.4 MARKET STRUCTURE 12

2.5 ASSUMPTIONS & LIMITATIONS 13

3 RESEARCH METHODOLOGY
3.1 DATA MINING 14

3.2 SECONDARY RESEARCH 15

3.3 PRIMARY RESEARCH 16

3.4 BREAKDOWN OF PRIMARY RESPONDENTS 17

3.5 FORECASTING TECHNIQUES 17

3.6 RESEARCH METHODOLOGY FOR MARKET SIZE ESTIMATION 18

3.6.1 BOTTOM-UP APPROACH 19

3.6.2 TOP-DOWN APPROACH 19

3.7 DATA TRIANGULATION 20

3.8 VALIDATION 20

4 MARKET DYNAMICS
4.1 OVERVIEW 21

4.2 DRIVERS 21

4.2.1 GROWING PREVALENCE OF DIABETES 21

4.2.2 RISING PRODUCT LAUNCHES AND APPROVALS 22

4.2.3 INCREASING GERIATRIC POPULATION, SEDENTARY LIFESTYLE, AND UNHEALTHY DIET 22

4.2.4 GROWING AWARENESS AND FUNDING FOR THE TREATMENT OF DIABETES 23

4.3 RESTRAINTS 23

4.3.1 RISING ADOPTION OF NON-INVASIVE DRUG DELIVERY SYSTEMS 23

4.4 OPPORTUNITIES 24

4.4.1 UNTAPPED MARKETS 24

5 MARKET FACTOR ANALYSIS
5.1 PORTER’S FIVE FORCES MODEL 25

5.1.1 BARGAINING POWER OF SUPPLIERS 26

5.1.2 BARGAINING POWER OF BUYERS 26

5.1.3 THREAT OF NEW ENTRANTS 26

5.1.4 THREAT OF SUBSTITUTES 26

5.1.5 INTENSITY OF RIVALRY 26

5.2 VALUE CHAIN ANALYSIS 27

5.2.1 R&D AND DESIGNING 28

5.2.2 MANUFACTURING 28

5.2.3 DISTRIBUTION & SALE 28

5.2.4 POST-SALES MONITORING 28

5.3 IMPACT OF COVID-19 ON THE GLOBAL SMART INSULIN PENS MARKET 29

6 SMART INSULIN PENS MARKET, BY PRODUCT TYPE
6.1 OVERVIEW 31

6.2 SMART PEN 32

6.3 CONNECTING DEVICE 33

7 SMART INSULIN PENS MARKET, BY DISTRIBUTION CHANNEL
7.1 OVERVIEW 34

7.2 HOSPITAL/RETAIL PHARMACIES 35

7.3 ONLINE 36

8 GLOBAL SMART INSULIN PENS MARKET, BY REGION
8.1 OVERVIEW 37

8.2 AMERICAS 38

SMART INSULIN PENS MARKET, BY PRODUCT TYPE

SMART INSULIN PENS MARKET, BY DISTRIBUTION CHANNEL

8.2.1 NORTH AMERICA 39

SMART INSULIN PENS MARKET, BY PRODUCT TYPE

SMART INSULIN PENS MARKET, BY DISTRIBUTION CHANNEL

8.2.1.1 US 40

SMART INSULIN PENS MARKET, BY PRODUCT TYPE

SMART INSULIN PENS MARKET, BY DISTRIBUTION CHANNEL

8.2.1.2 CANADA 41

SMART INSULIN PENS MARKET, BY PRODUCT TYPE

SMART INSULIN PENS MARKET, BY DISTRIBUTION CHANNEL

8.2.2 SOUTH AMERICA 42

SMART INSULIN PENS MARKET, BY PRODUCT TYPE

SMART INSULIN PENS MARKET, BY DISTRIBUTION CHANNEL

8.3 EUROPE 43

SMART INSULIN PENS MARKET, BY PRODUCT TYPE

SMART INSULIN PENS MARKET, BY DISTRIBUTION CHANNEL

8.3.1 WESTERN EUROPE 44

SMART INSULIN PENS MARKET, BY PRODUCT TYPE

SMART INSULIN PENS MARKET, BY DISTRIBUTION CHANNEL

8.3.1.1 GERMANY 46

SMART INSULIN PENS MARKET, BY PRODUCT TYPE

SMART INSULIN PENS MARKET, BY DISTRIBUTION CHANNEL

8.3.1.2 FRANCE 46

SMART INSULIN PENS MARKET, BY PRODUCT TYPE

SMART INSULIN PENS MARKET, BY DISTRIBUTION CHANNEL

8.3.1.3 UK 47

SMART INSULIN PENS MARKET, BY PRODUCT TYPE

SMART INSULIN PENS MARKET, BY DISTRIBUTION CHANNEL

8.3.1.4 ITALY 47

SMART INSULIN PENS MARKET, BY PRODUCT TYPE

SMART INSULIN PENS MARKET, BY DISTRIBUTION CHANNEL

8.3.1.5 SPAIN 48

SMART INSULIN PENS MARKET, BY PRODUCT TYPE

SMART INSULIN PENS MARKET, BY DISTRIBUTION CHANNEL

8.3.1.6 REST OF WESTERN EUROPE 48

SMART INSULIN PENS MARKET, BY PRODUCT TYPE

SMART INSULIN PENS MARKET, BY DISTRIBUTION CHANNEL

8.3.2 EASTERN EUROPE 49

SMART INSULIN PENS MARKET, BY PRODUCT TYPE

SMART INSULIN PENS MARKET, BY DISTRIBUTION CHANNEL

8.4 ASIA-PACIFIC 50

SMART INSULIN PENS MARKET, BY PRODUCT TYPE

SMART INSULIN PENS MARKET, BY DISTRIBUTION CHANNEL

8.4.1 CHINA 51

SMART INSULIN PENS MARKET, BY PRODUCT TYPE

SMART INSULIN PENS MARKET, BY DISTRIBUTION CHANNEL

8.4.2 JAPAN 52

SMART INSULIN PENS MARKET, BY PRODUCT TYPE

SMART INSULIN PENS MARKET, BY DISTRIBUTION CHANNEL

8.4.3 INDIA 52

SMART INSULIN PENS MARKET, BY PRODUCT TYPE

SMART INSULIN PENS MARKET, BY DISTRIBUTION CHANNEL

8.4.4 AUSTRALIA 53

SMART INSULIN PENS MARKET, BY PRODUCT TYPE

SMART INSULIN PENS MARKET, BY DISTRIBUTION CHANNEL

8.4.5 SOUTH KOREA 53

SMART INSULIN PENS MARKET, BY PRODUCT TYPE

SMART INSULIN PENS MARKET, BY DISTRIBUTION CHANNEL

8.4.6 REST OF ASIA-PACIFIC 54

SMART INSULIN PENS MARKET, BY PRODUCT TYPE

SMART INSULIN PENS MARKET, BY DISTRIBUTION CHANNEL

8.5 MIDDLE EAST & AFRICA 55

SMART INSULIN PENS MARKET, BY PRODUCT TYPE

SMART INSULIN PENS MARKET, BY DISTRIBUTION CHANNEL

8.5.1 MIDDLE EAST 56

SMART INSULIN PENS MARKET, BY PRODUCT TYPE

SMART INSULIN PENS MARKET, BY DISTRIBUTION CHANNEL

8.5.2 AFRICA 57

SMART INSULIN PENS MARKET, BY PRODUCT TYPE

SMART INSULIN PENS MARKET, BY DISTRIBUTION CHANNEL

9 COMPETITIVE LANDSCAPE
9.1 OVERVIEW 58

9.2 MAJOR PLAYERS IN THE GLOBAL SMART INSULIN PENS MARKET 58

9.3 COMPETITIVE BENCHMARKING 60

9.4 COMPETITOR DASHBOARD 61

9.5 MAJOR GROWTH STRATEGIES IN THE GLOBAL SMART INSULIN PENS MARKET 62

9.6 THE LEADING PLAYERS IN TERMS OF NUMBER OF DEVELOPMENTS IN THE GLOBAL SMART INSULIN PENS MARKET 63

9.7 KEY DEVELOPMENTS & GROWTH STRATEGIES 63

9.7.1 COLLABORATIONS 64

9.7.2 LAUNCHES 64

9.7.3 PARTNERSHIPS 64

9.7.4 APPROVALS 65

9.7.5 EXPANSIONS 65

10 COMPANY PROFILES
10.1 COMPANION MEDICAL 66

10.1.1 COMPANY OVERVIEW 66

10.1.2 FINANCIAL OVERVIEW 66

10.1.3 PRODUCTS/SERVICES OFFERED 66

10.1.4 KEY DEVELOPMENTS 66

10.1.5 SWOT ANALYSIS 67

10.1.6 KEY STRATEGIES 67

10.2 ELI LILY AND COMPANY 68

10.2.1 COMPANY OVERVIEW 68

10.2.2 FINANCIAL OVERVIEW 68

10.2.3 PRODUCTS/SERVICES OFFERED 69

10.2.4 KEY DEVELOPMENTS 69

10.2.5 SWOT ANALYSIS 69

10.2.6 KEY STRATEGIES 69

10.3 DIAMESCO CO., LTD 70

10.3.1 COMPANY OVERVIEW 70

10.3.2 FINANCIAL OVERVIEW 70

10.3.3 PRODUCTS/SERVICES OFFERED 70

10.3.4 KEY DEVELOPMENTS 70

10.3.5 SWOT ANALYSIS 71

10.3.6 KEY STRATEGIES 71

10.4 YPSOMED HOLDING AG 72

10.4.1 COMPANY OVERVIEW 72

10.4.2 FINANCIAL OVERVIEW 72

10.4.3 PRODUCTS/SERVICES OFFERED 73

10.4.4 KEY DEVELOPMENTS 73

10.4.5 SWOT ANALYSIS 73

10.4.6 KEY STRATEGIES 73

10.5 EMPERRA GMBH E-HEALTH TECHNOLOGIES 74

10.5.1 COMPANY OVERVIEW 74

10.5.2 FINANCIAL OVERVIEW 74

10.5.3 PRODUCTS/SERVICES OFFERED 74

10.5.4 KEY DEVELOPMENTS 74

10.5.5 SWOT ANALYSIS 75

10.5.6 KEY STRATEGIES 75

10.6 DIGITAL MEDICS PTY LTD 76

10.6.1 COMPANY OVERVIEW 76

10.6.2 FINANCIAL OVERVIEW 76

10.6.3 PRODUCTS/SERVICES OFFERED 76

10.6.4 KEY DEVELOPMENTS 76

10.6.5 SWOT ANALYSIS 77

10.6.6 KEY STRATEGIES 77

10.7 NOVO NORDISK A/S 78

10.7.1 COMPANY OVERVIEW 78

10.7.2 FINANCIAL OVERVIEW 78

10.7.3 PRODUCTS/SERVICES OFFERED 79

10.7.4 KEY DEVELOPMENTS 79

10.7.5 SWOT ANALYSIS 80

10.7.6 KEY STRATEGIES 80

11 APPENDIX
11.1 REFERENCES 81

11.2 RELATED REPORTS 81