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The Europe Smart Insulin Pen Market would witness market growth of 9.8% CAGR during the forecast period (2018 – 2024).
Diabetes is a major health condition that is rapidly growing among the world population; therefore, the adoption of smart insulin pens is vital for a safe and effective administration of insulin to people suffering from Diabetes. The other benefit of the device is that, it can be easily used by people with visual or motor skills impairments, which adds to the market growth. Insulin pens have gained popularity in recent years. Smart insulin pens are used in delivering insulin externally, and as a result, offering better diabetes management system. The major factors behind boosting the growth of the market include growing diabetic population, lower cost of insulin pumps, and painless injections.
The demand is due to rapidly rising number of diabetic patients, and cost-effectiveness of the smart insulin pens. In addition, the simple functioning and accurate delivery of appropriate dosing adds to the demand. Nevertheless, some limitations prevail that limit the market growth, such as such as two types of insulin cannot be mixed in an insulin pen, therefore, leading more number of injections. Additionally, demand for personalized or patient centric devices and need for limiting needle stick injury are the factors that add to the market expansion during the forecast period. The blood sugar control is the most challenging aspect nevertheless and security concern is still a restraining factor for the market growth.
Based on Product, the market is segmented into Second Generation Pens and First Generation Pens. Based on Usability, the market is segmented into Prefilled and Reusable. Based on End User, the market is segmented into Hospitals & Clinics, Ambulatory Surgical Centers and Home care settings. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Companion Medical Inc., Digital Medics Ptd Ltd., Eli Lilly and Company, Novo Nordisk A/S, Diamesco Co., Ltd., F. Hoffmann-La Roche AG, Insulet Corporation, Emperra GmbH E-Health Technologies, Jiangsu Delfu medical device Co. Ltd., Bigfoot biomedica.
Scope of the Study
- Second Generation Pens
- USB Connected Smart Insulin Pen
- Bluetooth-Enabled Smart Insulin Pen
- First Generation Pens
By End User
- Hospitals & Clinics
- Ambulatory Surgical Centers
- Home care settings
- Rest of Europe
- Companion Medical Inc.
- Digital Medics Ptd Ltd.
- Eli Lilly and Company
- Novo Nordisk A/S
- Diamesco Co., Ltd.
- F. Hoffmann-La Roche AG
- Insulet Corporation
- Emperra GmbH E-Health Technologies
- Jiangsu Delfu medical device Co. Ltd.
- Bigfoot biomedica.
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