North America Smart Insulin Pens Market

North America Smart Insulin Pens Market Size (2024 to 2029)

The North America Smart Insulin Pens Market Size is projected to witness a CAGR of 10.3% from 2024 to 2029.

Smart insulin pens are often used for external insulin delivery, making diabetes treatment more convenient. Insulin pens have grown significantly in popularity in recent years due to a rise in the number of diabetic patients and the cost-effectiveness of insulin pumps. Moreover, the ease with which they operate and the precision with administering insulin fuel their popularity.

The need for needle-free insulin delivery devices increases as the prevalence of diabetes rises. As per the Centers for Disease Control & Prevention, diabetes affected roughly 30.3 million people in the U.S in 2015, accounting for 9.4% of the total population. As a result, an increase in diabetes is likely to benefit the industry.

These insulin pens have various advantages over other insulin devices, including being more straightforward than syringes and portable outside the home. Furthermore, the pen enables precise dose dialing, making it easier for persons with eyesight impairments to deliver insulin.

Insulin pen devices have various advantages over the old vial-and-syringe mode of insulin delivery, including enhanced patient satisfaction and adherence to medication, improved convenience of use, and greater dose accuracy. As a result, the North American insulin pen industry is expected to rise.

There are several drawbacks to using an insulin pen, such as that two types of insulin cannot be blended into one, increasing the number of injections required. As a result, market expansion in North America is stifled. Other downsides include:

• Being only accessible for self-injection.

• Has a higher cost than the vial and syringe technique.

• Squandering some insulin with each usage.

• Some insurance providers lack universal coverage.

Patients must be well trained in the practical features and goals of insulin injection, as errors in insulin delivery can result in improper dose administration and, hence, negatively impact clinical outcomes.

This research report on the North America Smart Insulin Pens Market has been segmented and sub-segmented into the categories.

By Type:

• First Generation Pens

• Second Generation Pens

• Bluetooth-Enabled

• USB Connected

By Usability:

• Prefilled

• Reusable

By End User:

• Hospitals & Clinics

• Ambulatory Surgical Centers

• Home Care Settings

By Country:

• U.S

• Canada

• Rest of North America

Geographically, the North American region has a significant prevalence of diabetes. Indirect costs such as greater absenteeism, lower productivity at work for employed people, lower productivity for unemployed people, inability to work owing to disease-related impairment, and lost productive capacity due to early mortality accounted for up to $90 billion in losses. 

The U.S Smart insulin pens market alone accounts for over 80% of the diabetic population in North America. The insulin pen market will grow because insulin pen devices provide various advantages over the traditional vial-and-syringe mode of insulin delivery. These include enhanced patient satisfaction and adherence to medication, improved convenience of use, and greater dose accuracy. The North American Insulin Pens Market in the United States will be worth USD 1573 million by 2027. The United States has the largest North American Insulin Pens Market share.

According to WHO figures from 2014, 2 billion people were overweight, with about 600 million obese. Obesity and being overweight are strongly associated with the development of diabetes, which is increasing at epidemic levels, resulting in a high prevalence of diabetes. As a result, the vast population of diabetics in North America pushes the demand for insulin pens.

The Canadian Smart insulin pens market is predicted to grow significantly during the forecast period.

KEY MARKET PLAYERS

Prominent Companies that play a crucial role in the North America Smart Insulin Pens Market Profiled in the report are Novo Nordisk A/S, Diamesco Co. Ltd, Emperra GmbH, E-Health Technologies, Digital Medics Pvt Ltd, F. Hoffmann-La Roche AG, Insulet Corporation, Jiangsu Delfu medical device Co. Ltd, Bigfoot biomedical, Injex UK, and Smith's Medical.,