The Business Research Company’s Smart Insulin Pens Global Market Report 2021: COVID-19 Growth And Change To 2030
LONDON, GREATER LONDON, UK, June 28, 2021 /EINPresswire.com/ — A dose of insulin can be achieved more accurately than vial or a syringe with an insulin pen. 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 in accurate 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 of smart insulin pens and drive the market growth.
The smart insulin pens market consists of sales of smart insulin pens which allows to dial the insulin dose accurately and related products. The companies manufacturing the smart insulin pens are primarily engaged in designing and manufacturing of first- and second-generation smart insulin pens which are either reusable or pre-filled for the application of delivering accurate insulin dose in Type 1 Diabetes and Type 2 Diabetes. The revenue generated by these companies is through sales of these pens to Hospitals & Clinics, Ambulatory surgical centers and Home care settings.
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The global smart insulin pens market is expected grow from $0.082 billion in 2020 to $0.086 billion in 2021 at a compound annual growth rate (CAGR) of 4.9%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global smart insulin pens market is expected to reach $0.114 billion in 2025 at a CAGR of 7%.
Major players in the global 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.
The smart insulin pens market covered in this report is segmented by type into first generation pens, second generation pens (Bluetooth enabled, USB connected); by end user into hospitals & clinics, ambulatory surgical centers, home care settings; by usability into prefilled, reusable; by application into type 1 diabetes, type 2 diabetes.
Smart Insulin Pens Global Market Report 2021: COVID-19 Growth And Change To 2030 is one of a series of new reports from The Business Research Company that provides smart insulin pens market overview, forecast smart insulin pens market size and growth for the whole market, smart insulin pens market segments, and geographies, smart insulin pens market trends, smart insulin pens market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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Source: EIN Presswire