The Business Research Company’s Smart Insulin Pens Global Market Report 2021: COVID-19 Growth And Change To 2030
LONDON, GREATER LONDON, UK, March 24, 2021 /EINPresswire.com/ — Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
The next generation smart insulin pens go far beyond memory storage. They help in calculating personalized doses, track glucose continuously and connect with apps of smartphones to visualize the data. In 2019, Novo Nordisk and Abbott partnered to integrate insulin dose data into digital health tools, which aims at connecting key technologies such as continuous glucose monitoring and insulin pens, thus simplifying diabetes management. The NovoPen 6 and the NovoPen Echo Plus pens will be able to connect to the Dexcom G6 CGM and the Diasend diabetes management platform (Glooko). In 2019, Companion Medical announced that the Bluetooth-enabled InPen which takes away the guesswork from dosing of insulin with an in-app bolus calculator that uses precise carbohydrate ratios and correction factors and calculates the personalized insulin doses. This enhances the ease of usage of smart insulin pens which is expected to boost the market.
Other smart insulin pen market trends include partnerships between companies. In February 2020, Senseonics a US-based medical technology company which primarily focuses on the design, development and commercialization of glucose monitoring products announced partnership with Companion Medical. The partnership will benefit both the companies by integrating Eversense® CGM System with the InPen™ smart system for accurate insulin delivery. Companion Medical is a US-based company which aims at achieving desirable diabetes outcomes and manufactured InPen™ which is the US first FDA approved insulin pen.
Major players in the global smart insulin pens industry 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.
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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.
The global smart insulin pens market size is expected grow from $82 million in 2020 to $86 million 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 $114 million in 2025 at a CAGR of 7%.
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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