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The Latin America, Middle East and Africa Smart Insulin Pen Market would witness market growth of 11.9% CAGR during the forecast period (2018 – 2024).
Smart insulin pens are used in delivering insulin externally, and as a result, offering better diabetes management system. Insulin pens have gained popularity in the recent years. 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 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.
The major factors that drive the growth of the market include growing diabetic population, lower cost of insulin pumps, and painless injections. 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. Furthermore, the necessity 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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
- Hospitals & Clinics
- Ambulatory Surgical Centers
- Home care settings
- Saudi Arabia
- South Africa
- Rest of LAMEA
- 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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