Global Smart Insulin Pens Market Is Expected to Reach $298.8 Million by 2030: Allied Market Research

GlobeNewsWire
Tuesday, June 28, 2022 at 11:00pm UTC

Portland, OR, June 28, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Smart Insulin Pens Market generated $94.7 million in 2020, and is projected to reach $298.8 million by 2030, witnessing a CAGR of 12.1% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.

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Surge in incidence of diabetic patients and simple functioning & accuracy related to insulin dosing drive the growth of the global smart insulin pens market. However, there are certain disadvantages associated with the use of insulin pen such as two types of insulin cannot be mixed in an insulin pen, thus increasing the frequency of injections needed. This in turn impedes the smart insulin pens industry growth. The upsurge in demand for smart insulin pens, rise in disposable incomes, and growth prospects in emerging economies of Asia-Pacific and LAMEA are expected to provide numerous opportunities for smart insulin pens market size growth.

COVID-19 scenario:

  • The outbreak of the COVID-19 pandemic has had a negative impact on the growth of the global smart insulin pens market. Due to the implementation of global lockdown, patients faced difficulty in procuring smart insulin pens due to less production.
  • The lockdown further disrupted the whole supply chain, leading to disruptions in the supply of raw materials and hampered the market demand.

The report offers detailed segmentation of the global smart insulin pens market based on type, end user, usability, and region.

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Based on end user, the hospital and clinics segment held the highest market share in 2020, holding nearly two-fifths of the total market share, and is expected to continue its leadership status during the forecast period. However, the home care settings segment is estimated to register the highest CAGR of 12.7% from 2021 to 2030. 

Report AttributeDetails
Revenue forecast in 2030USD 298.87 Million
Growth rateCAGR of 12.1% from 2021 to 2030
Forecast period2022 - 2030
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
Regional scopeNorth America, Europe, Asia Pacific, Latin America, MEA
Country scopeU.S., Canada, Germany, U.K., France, Italy, Spain, Japan, China, India, South Korea, Australia, Brazil, Mexico, South Africa, Saudi Arabia
Key companies profiledBerlin-Chemie, Bigfoot Biomedical, Digital Medics Pty Ltd., Eli Lilly and Company, Emperra GmbH, Jiangsu Deflu Medical Device Co. Ltd., Medtronic PLC, Novo Nordisk, Pendiq, and Sanofi.

Based on usability, the reusable segment held the largest market share in 2020, holding nearly three-fourths of the total market share, and is expected to continue its leadership status during the forecast period. However, the prefilled segment is projected to register the highest CAGR of 12.5% from 2021 to 2030.

Based on region, Europe contributed to the highest share in terms of revenue in 2020, holding more than two-fifths of the total market share, and is estimated to continue its dominant share by 2030. However, LAMEA is projected to manifest the fastest CAGR of 13.4% during the forecast period.

Leading players of the global smart insulin pens market analyzed in the research include Berlin-Chemie, Bigfoot Biomedical, Digital Medics Pty Ltd., Eli Lilly and Company, Emperra GmbH, Jiangsu Deflu Medical Device Co. Ltd., Medtronic PLC, Novo Nordisk, Pendiq, and Sanofi.

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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”


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