As stated in our extensive report; the Global Smart Insulin Pens Market accounted forUSD 92.1 Millionin 2021.
The COVID-19 outbreak has affected almost all the industry and businesses severely. The government has imposed lockdowns and restrictions in many regions to control the spread of covid. Due to this, the economy was severely hampered. The supply chain was disrupted, and the product manufacturing rates were meager. The pandemic has hampered the Global Smart Insulin Pens Market. Due to a reduction in the production of Smart Insulin Pens, patients faced difficulty in getting the Smart Insulin Pens on time as the healthcare system was more focused on COVID-19 during that time.
The Smart Insulin Pens is helpful for diabetes patients as it provides an external insulin delivery. Smart Insulin Pens delivers accurate half-unit doses, keeping track of the time and amount of each dose. Also, it helps to prevent skipped doses and notify when the insulin has expired or exceeded its temperature range, which allows a diabetes patient to work with popular diabetes data tracking platforms such as smartphones and smartwatches by sending the diabetes data. The demand for these Smart Insulin Pens has increased considerably owing to the increasing number of geriatric populations with diabetics.
Based on the EndUserssegment, the Hospitals &Clinics segment is estimated to witness the fastest market growth in the forecasted period. Many market players are striving to expand the availability of Bluetooth connected Smart Insulin Pens as they are surging in demand owing to their easy-to-use and convenient nature. Therefore, this application segment is expected to lead the Global Smart Insulin Pens Market growth. Furthermore, hospitals and clinics are well equipped with diabetes management products among the treatment type-2 is estimated to witness a significant incline in the Global Smart Insulin Pens Market growth in the forecasted period.
The Global Smart Insulin Pens Market based on the region is divided into and the rest of the world. However, the has been dominating the Smart Insulin Pens Market over the past few years and is expected to grow more in the future. Furthermore, the Smart Insulin Pens Market is estimated to grow in the forecasted period owing to a large volume of diabetes patients and the geriatric population. Therefore, the Smart Insulin Pens is estimated to grow at an exponentially increasing compound annual growth rate in the region.
Some of the prominent players in the Global Smart Insulin Pens Market include- Emperra GmbH, Jiangsu Deflu Medical Device Co. Ltd., Medtronic PLC, Novo Nordisk, Pendiq, Sanofi, Berlin-Chemie, Bigfoot Biomedical, Digital Medics Pty Ltd., Eli Lilly & Company and others.