Smart Insulin Pens Market: Current Analysis and Forecast (2021-2027)


Emphasis on Type (First Generation, Second Generation), Usability (Pre-Filled, Reusable); End-User (Hospitals, Ambulatory Surgery Centers, Home Care Settings); and Region & Country.







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Report Description
Table of content
Research Methodology

Report Description

Smart insulin pens are employed for external insulin delivery, providing a convenient option to diabetes treatment. Insulin pens is observing a significant growth in demand in recent years, owing to an increase in the number of diabetic patients, as well as their cost-effectiveness when compared to insulin pumps. Diabetes affected 463 million people worldwide in 2019, accounting for 9.3% of the global adult population (20–79 years). In 2030, this number is predicted to rise to 578 million (10.2%) and 700 million (10.9%) in 2045. In 2019, the prevalence of diabetes was expected to be 9.0 percent in women and 9.6 percent in men. Diabetes prevalence rises with age, with a prevalence of 19.9% (111.2 million) in adults aged 65-79 years. Smart insulin pens have various advantages over other insulin administration devices, including being easier to use than a syringe and being portable enough to be used outside the home.

In South-East Asia, nearly 600,000 persons died before the age of 60 because of diabetes in 2019, whereas the Western Pacific experienced about 480,000 diabetes-related deaths. These regions also have the highest number of people aged 20 to 79 who have undiagnosed diabetes: the Western Pacific region had nearly 91 million undiagnosed diabetes cases in 2019, whereas approximately 50 million Southeast Asians had undiagnosed diabetes. These reasons have caused rise in awareness among individuals and is expected to drive the growth of the market. Furthermore, increase in per capita healthcare spending has positively impacted the sale of insulin pumps. For instance, according to OECD data from 2019, the United States had the highest per capita GDP at 17%, followed by Switzerland and Germany at 12.1% and 11.7%, respectively. The market for Smart Insulin Pens is predicted to grow due to improvements in healthcare.

Major landmark events in the evolution of insulin delivery devices

Eli Lilly and Company, Novo Nordisk, DIAMESCO, Emperra GmbH, Ypsomed holding AG, F. Hoffmann-La Roche AG, Insulet Corporation, Jiangsu Delfu medical device Co., and Medtronics are some of the prominent players operating in the global Smart Insulin Pens market. Several M&A’s along with partnerships have been undertaken by these players to facilitate costumers with hi-tech and innovative products.

Insights Presented in the Report

“Amongst Type, Second Generation segment holds the major share”

AnchorBased on the therapy type, the market is fragmented into first and second generation. The second- generation segment on account of increasing geriatric population and rise self-administration among patients dominated the market with a share of XX% in 2020 and is expected to maintain its dominance during the forecast period owing to owing to its easy portability and wireless connectivity.

“Amongst Usability, Pre-filled is anticipated to grow at the highest CAGR during the analyzed period”

Based on usability, the market is fragmented into Pre-filled and Reusable. In 2020, home care settings accounted for a maximum market revenue share of XX% and is expected to remain dominant during the analyzed period.

Amongst End-User, Homecare Setting segment holds the major share”

Based on end-user, the market is fragmented into hospitals, ambulatory surgery centers, and home care settings. In 2020, home care settings accounted for a maximum market revenue share of XX% and is expected to remain dominant during the analyzed period.

“North America signifies one of the largest markets of Smart Insulin Pens Market”

For a better understanding of the market dynamics of the Smart Insulin Pens market, a detailed analysis was conducted for different regions across the globe including North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of APAC), Rest of World has been conducted. North America dominated the market and generated revenue of USD XX million in 2020. The North American and Caribbean region spent some 325 billion U.S. dollars on health care for people with diabetes in 2019. However, the Asia Pacific region would grow at the highest CAGR during the forecast period due to its high population base and increase in incidence of diabetic patients.

Reasons to buy this report:

  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts
  • The report presents a quick review of overall industry performance at one glance
  • The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
  • The study comprehensively covers the market across different segments
  • Deep dive regional level analysis of the industry

Customization Options:

Smart Insulin Pens Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

1.1Market Definitions 
1.2Objective of the Study
1.4Stake Holders 
1.5Currency Used in Report
1.6Scope of the Global Smart Insulin Pens Market Study
2.1Research Methodology for the Global Smart Insulin Pens Market
 2.1.1Main Objective of the Global Smart Insulin Pens Market
8.1First Generation
8.2Second Generation
10.2Ambulatory Surgery Centers
10.3Homecare Settings 
 11.1.1United States
 11.1.3Rest of North America
 11.2.3United Kingdom
 11.2.6Rest of Europe
 11.3.5South Korea
 11.3.6Rest of Asia Pacific
12.1Market Drivers 
12.2Market Challenges
12.3Impact Analysis
14.1Demand Side Analysis
14.2Supply Side Analysis
 14.2.1Top Product Launches
 14.2.2Top Business Partnerships
 14.2.3Top Merger & Acquisitions
18.1Porter’s Five forces analysis
 18.1.1Bargaining power of Supplier
 18.1.2Bargaining power of Buyer
 18.1.3Industry Rivalry
 18.1.4Availability of Substitute
 18.1.5Threat of new Entrants
 19.1.1Key Facts 
 19.1.2Business Description
 19.1.3Key Product/Services Offerings
 19.1.4Growth Strategy
 19.1.5SWOT Analysis
 19.1.6Key Financials Split Overview of Medtronics
 19.1.7Recent Developments Launch Expansion and Investments and Acquisition
19.2Eli Lilly and Company
19.3Novo Nordisk 
19.4Companion Medical, DIAMESCO
19.5Emperra GmbH 
19.6Companion Medical 
19.7Ypsomed holding AG
19.8F. Hoffmann-La Roche AG
19.9Insulet Corporation 
19.1Snuza International 

Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the Global Smart Insulin Pens Market were the three major steps undertaken to create and analyze the adoption of insulin pens for the different diseases across major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Smart Insulin Pens sector. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detailed secondary study was conducted to obtain the historical market size of the Smart Insulin Pens through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Smart Insulin Pens market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments for major regions. Major segments included in the report are type, end-user, and distribution channel. Further country-level analyses were conducted to evaluate the overall adoption of Smart Insulin Pens in every region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Smart Insulin Pens. Further, we conducted factor analysis using dependent and independent variables such as increasing cancer incidence and growing geriatric population. A thorough analysis was conducted for demand and supply-side scenario considering top partnerships, merger and acquisition, business expansion, and product launches in the Smart Insulin Pens industry across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Smart Inulin Pens market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e. top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of value (USD) and the adoption rate of Smart Insulin Pens across the major markets domestically
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in the Smart Insulin Pens market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Smart Insulin Pens market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type, end-user, and distribution channel of the Smart Insulin Pens market.

Main Objective of the Smart Insulin Pens Market Study

The current & future market trends of Smart Insulin Pens were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

  • Analyze the current and forecast market size of Smart Insulin Pens in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
  • Segments in the study include areas of type, end-user, and distribution channel
  • Define and analysis of the regulatory framework for the Smart Insulin Pens industry
  • Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
  • Analyze the current and forecast market size of the Smart Insulin Pens market for the major region
  • Major regions studied in the report include North America (the United States and Canada), Europe (Germany, France, Italy, Spain, and United Kingdom), Asia-Pacific (China, Japan, India, and Australia), and Rest of the World
  • Company profiles of the Smart Insulin Pens market and the growth strategies adopted by the market players to sustain in the fast-growing market
  • Deep dive regional level analysis of the industry