The North America Smart Insulin Pens Market would witness market growth of 9.8% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 234.2 thousand units, showcasing a growth of 9.2% (2019-2022).
Diabetes is a long-term medical condition marked by high blood glucose levels. In order to keep levels of blood glucose under control, regular insulin administration is frequently necessary. Therefore, the development and adoption of these pens have become instrumental in enhancing the quality of life for individuals with diabetes, improving treatment outcomes, and streamlining the management of this complex condition.
The requirement for the pens can be traced back to the inherent challenges faced by both patients and healthcare providers in managing diabetes effectively. Traditional insulin delivery methods, such as syringes and vials, are associated with several limitations, including imprecise dosing, difficulties keeping accurate records, and the potential for dosage errors. Patients often struggle with keeping detailed logs of their insulin injections, leading to potential inaccuracies and missed doses. Healthcare providers, on the other hand, face challenges in tracking their patients' progress accurately and may struggle to make informed decisions regarding insulin therapy adjustments.
The Canadian Government committed to investing $35 million in diabetes research, prevention, and surveillance in 2021. Of that amount, $25 million was allocated to create a national framework for diabetes and diabetes research. This includes reaffirming support for the Partnership to Defeat Diabetes between the Canadian Institutes of Health Research (CIHR) and the Juvenile Diabetes Research Foundation (JDRF) by contributing up to $15 million for type 1 diabetes research, with contributions matched by JDRF Canada and its donors. These developments have resulted in an increasing demand for technologically advanced diabetes management devices. Thus, such factors collectively contribute to the growing popularity of these pens as a preferred choice for diabetes management in regional countries.
The US market dominated the North America Smart Insulin Pens Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $52,584.4 Thousands by 2030. The Canada market is experiencing a CAGR of 12.3% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 11.3% during (2023 - 2030).
Based on Usability, the market is segmented into Prefilled, and Reusable. Based on Product, the market is segmented into First Generation Pens, and Second Generation Pens (USB Connected, Bluetooth-Enabled). 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Smart Insulin Pens Market is Predict to reach $199.8 Million by 2030, at a CAGR of 10.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Medtronic PLC, Eli Lilly And Company, Novo Nordisk A/S, F. Hoffmann-La Roche Ltd, Emperra GmbH, Jiangsu Delfu Medical Device Co.,Ltd, Abbott Laboratories and Ypsomed AG.
By Usability (Volume, Thousand Units, Revenue, USD Million, 2019-30)
By Product
By End User (Volume, Thousand Units, Revenue, USD Million, 2019-30)
By Country (Volume, Thousand Units, Revenue, USD Million, 2019-30)
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