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Smart Insulin Pens Market Trends

  • Report ID: GMI8271
  • Published Date: Feb 2024
  • Report Format: PDF

Smart Insulin Pens Market Trends

The evolution of smart insulin pens has been driven by the integration of digital technology into healthcare. Modern smart insulin pens can connect to mobile apps via Bluetooth and near-field communication (NFC), allowing for the automatic recording and tracking of dosing information.

  • Technological advancements, particularly the integration of smart insulin pens with continuous glucose monitoring (CGM) systems, have significantly contributed to the growth of the market. This integration allows users to make more informed decisions about insulin dosage by providing real-time glucose level data. The synergy between smart insulin pens and CGM enhances precision and optimizes diabetes management, making these devices increasingly attractive to both patients and healthcare professionals.
  • Moreover, the incorporation of Bluetooth connectivity and mobile applications in smart insulin pens have revolutionized diabetes care devices. For instance, the InPen, a Bluetooth-enabled smart insulin pen by Medtronic, works in conjunction with a companion app. This feature enables users to wirelessly transmit data, such as insulin doses and blood glucose levels, to their smartphones or other connected devices.
  • The accessibility of this information promotes better self-management, empowers patients with insights, and facilitates remote monitoring by healthcare providers, thereby fostering the market growth of smart insulin pens. Consequently, these innovations are anticipated to drive overall business expansion in the healthcare industry.
Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The global smart insulin pens industry was valued at around USD 850.6 million in 2023 and is estimated to reach USD 1.9 billion by 2032, attributed to factors such as the rising prevalence of diabetes coupled with enhanced awareness of self-management of diabetes.

The Bluetooth segment is anticipated to witness substantial expansion at 9.3% rate from 2024 to 2032 owing to a high level of accessibility and control over diabetes management for patients.

North America smart insulin pens market accounted for USD 329.3 million in 2023 and is predicted to witness substantial growth through 2032 owing to prevalence of both Type 1 and Type 2 diabetes, and the widespread reliance on insulin for effective diabetes management.

Cambridge Consultants Ltd., Eli Lilly and Company, Emperra GmbH, Jiangsu Delfu medical device Co., Ltd., Medtronic plc, Novo Nordisk, and Ypsomed Group.

Smart Insulin Pens Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 7
  • Tables & Figures: 251
  • Countries covered: 22
  • Pages: 165
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