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Increasing number of product launches a significant factor driving the global smart insulin pens market revenue growth

VANCOUVER, BC, CANADA, January 12, 2023 /EINPresswire.com/ -- The global smart insulin pens market size is expected to reach USD 302.1 Million at a steady revenue CAGR of 12.1% in 2030, according to the latest analysis by Emergen Research. Technological advancement can be attributed to the steady revenue growth of the smart insulin pens market. The smart insulin pen is a recent innovation in the smart lexicon following the introduction of smartwatches and phones. Simply described, a ‘smart pen’ is an insulin pen that has the ability to remotely transfer data through Bluetooth to an associated mobile app while also recording the quantity and timing of each insulin dose it administers.

The three main obstacles that insulin users currently encounter are missed and forgotten insulin doses, insufficient insulin dose increases, and risk of hypoglycemia (low blood glucose levels). These smart pen aims to create a diabetes care ecosystem that can track not only the doses of insulin, but also link up with the glucose sensor and suggest appropriate doses of insulin based on blood glucose levels - in effect, a low-cost insulin pump - by creating an interface through which the pen can keep track of insulin doses, store the data in an app, and share the data with users, caregivers, and healthcare professionals.

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Smart Insulin Pens business analysis covers techniques of key players including comprehensive information on key business developments, Company Overview, Financial Highlights, Product Portfolio, SWOT Analysis, Key Strategies, and Developments.

Berlin-Chemie AG, Bigfoot Biomedical, Inc., Digital Medics Pty Ltd., Eli Lilly and Company, Emperra GmbH E-Health Technologies, Jiangsu Deflu Medical Device Co. Ltd., Medtronic plc, Novo Nordisk A/S, Pendiq, and Sanofi S.A. and others as well as new entrants in the market.

 It focuses on the recent mergers & acquisitions, joint ventures, collaborations, partnerships, licensing agreements, brand promotions, and product launches, among others. The report also provides details about the company overview, business expansion plans, product portfolio, manufacturing and production capacity, global market position, financial status, and consumer base.

Further key findings from the report suggest

On 8 November 2022, Eli Lilly was poised to step up the pace now that the U.S. Food and Drug Administration (FDA) approved its Bluetooth-connected insulin dose-tracking system. According to Lilly, the Big Pharma intended to launch its Tempo diabetes management platform in a few U.S. clinics in the last weeks of 2022 before extending its availability countrywide until 2023. The platform combines Tempo Pens from Lilly, which are prefilled, disposable insulin delivery devices, with the TempoSmart mobile app, which is compatible with them, and the Tempo Smart Button, which is intended to track the Tempo Pens insulin doses.

The first generation pens segment is expected to account for largest revenue share in the global market over the forecast period. The first generation pen segment is expected to maintain its dominance due to advancements in healthcare Research and Development (R&D) operations and a rise in the number of diabetics. Furthermore, a rise in public awareness of innovative insulin administration methods is expected to drive revenue growth of the market.

Read more on the global Smart Insulin Pens market report at: https://www.emergenresearch.com/industry-report/smart-insulin-pens-market

The report further segments the global Smart Insulin Pens market on the basis of product types and applications and provides insights into key factors influencing the revenue growth of the segments.

For the purpose of this report, Emergen Research has segmented global smart insulin pens market on the basis of type, usability, end-use, and region:

Type Outlook (Revenue, USD Million; 2019–2030)

First Generation Pens

Second Generation Pens

Usability Outlook (Revenue, USD Million; 2019–2030)

Prefilled

Reusable

End-Use Outlook (Revenue, USD Million; 2019–2030)

Hospitals & Clinics

Ambulatory Surgical Centers

Home Care Settings

Regions Covered in the 2022 Global Market Report:

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

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The Smart Insulin Pens market research process can be done by conducting surveys, conducting interviews, and other similar processes. The main objective of conducting industry research is to understand or take a look at the business related to a specific product or service. The data acquired from conducting research can be used to tailor marketing activities or to decide what the feature priorities require.

What Questions Should You Ask before Buying a Market Research Report?

• How is the Smart Insulin Pens market evolving?

• What is driving and restraining the Smart Insulin Pens market?

• How will each Smart Insulin Pens submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2030?

• How will the market shares for each Smart Insulin Pens submarket develop from 2022 to 2030?

• What will be the main driver for the overall market from 2022 to 2030?

• Will leading Smart Insulin Pens markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?

• How will the market shares of the national markets change by 2030 and which geographical region will lead the market in 2030?

• Who are the leading players and what are their prospects over the forecast period?

• What are the Smart Insulin Pens projects for these leading companies?

Thank you for reading our report. Customization of the report is available according to the requirements of clients. In case of further queries about the report, do get in touch with us. Our team will make sure your report is tailored according to your needs.

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The global smart insulin pens market size is expected to reach USD 302.1 Million at a steady revenue CAGR of 12.1% in 2030

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