According to a new report, published by KBV research, The Global Smart Insulin Pens Market size is expected to reach $199.8 million by 2030, rising at a market growth of 10.5% CAGR during the forecast period. In the year 2022, the market attained a volume of 797.8 thousand units experiencing a growth of 9.9% (2019-2022).
The Prefilled segment is registering a CAGR of 10.1 % during the forecast period. Prefilled smart insulin pens come preloaded with insulin cartridges, eliminating the need for manual filling, which can be a cumbersome and error-prone process. Since prefilled pens are designed for single-patient use, there is a reduced risk of cross-contamination between different users. For users who may not require a large volume of insulin or prefer the convenience of prefilled pens, these devices can be cost-effective, as they eliminate the need to purchase separate insulin cartridges or vials.
The First Generation Pens segment led the Global Smart Insulin Pens Market, By Product in 2022; thereby, achieving a market value of $112 million by 2030. First-generation smart insulin pens are equipped with features to track insulin doses accurately. These devices often have user-friendly interfaces and are relatively easy to use. The demand for them is growing as they serve a large customer base, including those who might not be as tech-savvy. Some first-generation smart insulin pens may offer limited connectivity options, such as Bluetooth, to enable data transfer to mobile apps for basic tracking and analysis.
The Hospitals & Clinics segment is growing at a CAGR of 10.1 % during the forecast period. The growth of the segment is driven by the increasing recognition of the value that these devices bring to diabetes management in clinical settings. They offer a comprehensive solution for healthcare providers, enabling them to provide more personalized, efficient, and data-driven care to patients with diabetes. As healthcare systems continue to embrace digital health technologies, the adoption of smart insulin pens in hospitals and clinics is likely to expand further.
The North America region dominated the Global Smart Insulin Pens Market, By Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $73.4 Million by 2030. The Europe region is anticipated to grow at a CAGR of 10.3% during (2023 - 2030). Additionally, The Asia Pacific region would witness a CAGR of 11.4% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/smart-insulin-pen-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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 Geography (Volume, Thousand Units, Revenue, USD Million, 2019-30)
Companies Profiled
Unique Offerings 
