A smart insulin pen is a reusable injector pen with a natural smartphone application that can assist individuals with diabetes in better overseeing insulin conveyance. This smart framework ascertains and tracks dosages and gives supportive updates, cautions, and reports. Smart insulin is cutting-edge insulin that consequently reacts to changing blood glucose levels. The lower or higher glucose levels are, less or more insulin is delivered, separately. The insulin, keeps blood glucose levels ordinary for the duration of the day and may be taken in the form of an injection or a pill. This disposes of hyperglycemia and hypoglycemia as well as different every day injections and carb counting.
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The interest for insulin pens has expanded extensively as of late attributable to the increment in the frequency of diabetic patients combined with their financially savvy nature when contrasted with insulin siphons. What’s more, their basic working and precision identified with insulin dosing further invigorate their interest. Be that as it may, there are sure weaknesses related to the utilization of an insulin pen, for example, two sorts of insulin can’t be blended in an insulin pen, in this manner expanding the recurrence of injections required. This may serve as a challenging factor hindering the growth of this market in the coming years.
Manufacturers of the worldwide smart insulin pen market are centered around taking on association methodologies to upgrade their portion of the overall industry. Smart insulin pens offer a few advantages when contrasted with other insulin conveyance gadgets all things being equal simpler to use than needles and being convenient in nature, can be effortlessly utilized external the home. Also, the pen permits to dialing of the portion precisely, which assists individuals with vision issues to oversee insulin without any problem. The ascent in the commonness of diabetes raises the interest in sans needle insulin conveyance gadgets.
Global Smart Insulin Pens Market – Snapshot
Smart insulin pens are devices that are used to administer insulin for the treatment of diabetes. The global smart insulin pens market was valued at US$ 29.2 Mn in 2018 and is projected to reach US$ 70.4 Mn by 2027, expanding at a CAGR of 10.3% from 2019 to 2027. Rise in prevalence of diabetes in people of all ages and increase in awareness about chronic diseases, such as diabetes, is anticipated to drive the global market for smart insulin pens. Additionally, a surge in adoption of connected medical devices and integration of glucose monitoring devices and therapeutics for better management of diabetes is likely to propel the smart insulin pens market across the globe. According to World Health Organization, an estimated 1.6 million deaths occurred due to diabetes, in 2016. According to American Diabetes Association, in 2015, an estimated 30.3 million people in the U.S. had diabetes, among them 1.25 million were children.
smart insulin pens market
In terms of product, the smart insulin pens market has been categorized into smart insulin pens and adaptors for conventional pens. Based on connectivity type, the market has been classified into Bluetooth and USB. In terms of application, the market segmented into type 1 and type 2 diabetes. Based on distribution channel, the market has been divided into hospital pharmacy, online sales, retail pharmacy, and diabetes clinics/centers
In terms of region, the global smart insulin pens market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for a major share of the global market in 2018. The market in North America is driven by the presence of key players and a high rate of adoption of technologies in the region. Additionally, a rise in the prevalence of diabetes and new product launches and approval are likely to propel the market in the region. According to National Diabetes Statistics Report 2017, In the U.S., an estimated 30.3 million people had diabetes in 2015. According to Canadian Chronic Disease Surveillance System, there were estimated 3.0 million people in Canada are living with diabetes between 2013 and 2014. The market in Europe is driven by an increase in prevalence of diabetes. According to International Diabetes Federation, in 2017, approximately, 352 million people were at a risk of developing type 2 diabetes in Europe. The market in Asia Pacific is projected to expand at a rapid pace during the forecast period, due in an increase in the geriatric population with diabetes.
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The global smart insulin pens market is highly fragment, due to the presence of a large number of players. Major players operating in the global smart insulin pens market include Novo Nordisk A/S, Sanofi (sanofi-aventis US LLC), Eli Lilly and Company, Companion Medical, Emperra GmbH E-Health Technologies, Diabnext, Jiangsu Delfu medical device Co.,Ltd, BERLIN-CHEMIE, DIAMESCO CO., Ltd., and Patients Pending Ltd (Bigfoot Biomedical Inc.). In January 2018, BIOCORP received clearance in Europe for EASYLOG, an adaptor for insulin pens connected via the internet. This product approval enabled the company to strengthen its position in the market and enhance its product portfolio in Europe. In December 2017, Companion Medical launched the InPen, in the U.S. This product launch enabled the company to strengthen its diabetes management portfolio in the U.S. In August 2016, Emperra GmbH launched the ESYSTA BT Bluetooth Insulin Pen. This product launched enabled the company to strengthen the ESYSTA product portfolio.
Smart Insulin Pens Market – Overview
Smart insulin is a next-generation insulin that automatically responds to changing blood glucose levels. The lower or higher blood sugar levels are, less or more insulin is released, respectively. The insulin, whether taken as an injection or pill, keeps blood glucose levels normal throughout the day. This eliminates not just hypoglycemia and hyperglycemia but also multiple daily injections and carb counting. All smart insulin projects are at a very early stage and, in some cases, the drug is still being tested in animal studies.
Today, “smart” insulin pens are poised to offer not only a more user-friendly insulin delivery option but also track dosing data that can be shared on digital platforms and integrated with other vital diabetes care information. A growing body of research Trusted Source shows the benefits of smart insulin pens, including a 2019 clinical study from Joslin Diabetes offering evidence that the ability of Bluetooth-enabled pens to track insulin dosing and timing helps improve diabetes management.
We’ve come a long way since the first insulin pen products were introduced in the late 1980s, from the pens becoming fully disposable to the introduction of digital caps that record data and beam it to mobile apps and online platforms, and now Bluetooth-enabled smart insulin pens that build in data-tracking inside the device itself. More digital options for these pens are in the works, including connecting them to closed loop systems that can automatically adjust insulin doses, which traditionally was only considered an option when using an insulin pump.
Notably, in August 2020, Medtronic Diabetes acquired Companion and its InPen, adding this unique insulin delivery device to its leading lineup of insulin pumps. Now, Medtronic will have a delivery product to offer non-pumpers as well.
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The predecessor to smart insulin pens were ‘data tracking caps’ that could be fitted on top of the insulin pen. Some memorable names in that market were Timesulin, InsulCheck, and Common Sensing. Several of these are still around in different forms, being integrated into other systems.
The global smart insulin pens market has been segmented as below:
- Smart Insulin Pen
- Adaptors for Conventional Pen
- Type 1 Diabetes
- Type 2 Diabetes
- Hospital Pharmacy
- Online Sales
- Retail Pharmacy
- Diabetes Clinics/Centers
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
TABLE OF CONTENT
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary : Global Smart Insulin Pens Market
4. Market Overview
4.1.1. Product Definition
4.1.2. Industry Evolution / Developments
4.3. Market Dynamics
188.8.131.52. Rise in prevalence of diabetes
184.108.40.206. Increase in awareness about diabetes
220.127.116.11. Integration of diabetes monitoring and therapeutics for better disease management
18.104.22.168. Surge in adoption of connected medical devices
22.214.171.124 Availability of alternatives to insulin delivery devices
126.96.36.199. Not suitable for combination of insulin
4.4. Global Smart Insulin Pens Market Analysis and Forecast, 2019–2027
5. Market Outlook
5.2. New Product Launch & FDA Approvals
5.3. Diabetes Prevalence in Key Countries
6. Global Smart Insulin Pens Market Analysis and Forecast, by Product
6.1. Introduction & Definition
6.2. Key Findings / Developments
6.3. Global Smart Insulin Pens Market Value Forecast, by Product, 2019–2027
6.3.1. Smart Insulin Pen
6.3.2. Adaptors for Conventional Pen
6.4. Global Smart Insulin Pens Market Attractiveness, by Product
7. Global Smart Insulin Pens Market Analysis and Forecast, by Connectivity Type
7.1. Introduction & Definition
7.2. Key Findings / Developments
7.3. Global Smart Insulin Pens Market Value Forecast, by Connectivity Type, 2019–2027
7.4. Global Smart Insulin Pens Market Attractiveness, by Connectivity Type
8. Global Smart Insulin Pens Market Analysis and Forecast, by Application
8.1. Introduction & Definition
8.2. Key Findings / Developments
8.3. Global Smart Insulin Pens Market Value Forecast, by Application, 2019–2027
8.3.1. Type 1 Diabetes
8.3.2. Type 2 Diabetes
8.4. Global Smart Insulin Pens Market Attractiveness, by Application
9. Global Smart Insulin Pens Market Analysis and Forecast, by Distribution Channel
9.1. Introduction & Definition
9.2. Key Findings / Developments
9.3. Global Smart Insulin Pens Market Value Forecast, by Distribution Channel, 2019–2027
9.3.1. Hospital Pharmacy
9.3.2. Online Sales
9.3.3. Retail Pharmacy
9.3.4. Diabetes Clinics/Centers
9.4. Global Smart Insulin Pens Market Attractiveness, by Distribution Channel
10. Global Smart Insulin Pens Market Analysis and Forecast, by Region
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