Since last decade the technological advancements and innovations have come up with key modifications in the diabetes management industry. Mobile phones with functions such as memory and timing have significantly improved its connectivity with smart insulin pens in the past few years. This connected device technology helps the patient to track the timings of the medicine dosage taken by the patient during the course of time. Manufacturers are thus focusing on the introduction of smart insulin pens with the feature of Bluetooth connectivity is driving the growth of the market in the near future.
The new report published by QY Research titled, “Global Smart Insulin Pens Industry Research Report, Growth Trends and Competitive Analysis 2018-2025,” is thus focusing on the long-term and short-term forecast and its current market size along with its revenue opportunity for 7-years, i.e. between 2018 and 2025. According to this report, the global smart insulin pens market is likely to touch the valuation at US$ 16 Mn By the end of 2025. The market is likely to expand with a robust CAGR of 8.6% during the anticipated period.
Global Smart Insulin Pens Market: Drivers and Restraints
The global market for smart insulin pens is growing at a significant rate during the predicted period. Some of the factors such as rising spending power on healthcare, increasing per capita income, improving reimbursement scenarios, and increasing awareness of consumers are likely to fuel the growth of the smart insulin pens market in the years to come. The rising incidence of diabetes is one of the key drivers that drive the growth of the market. The increasing usage of smart insulin pens over regular insulin pens are expected to boost the growth of the global market for smart insulin pens over the projected period.
However, the growing adoption of substitute product such as insulin patches and insulin pumps are creating a negative impact on the growth of the global market for smart insulin pens in the years to come.
Global Smart Insulin Pens Market: Segmental Analysis
The smart insulin pens market is segmented into applications and product type. The product type segment is sub-segmented into Smart Pen Caps and Smart Insulin Pens. On the basis of application, the smart insulin pens market is segmented into Home Care Settings and Hospitals and Clinics.
Global Smart Insulin Pens Market: Regional Outlook
Europe is likely to capture a remarkable market share during the forecasted period. North America is also expected to show significant market growth for smart insulin pens in the years to come. China and India are two nations which are having high number of patients diagnosed with diabetes. Market players are taking lot of efforts to expand the business of smart insulin pens in Asia Pacific countries which is offering huge potential for the revenue generation.
Global Smart Insulin Pens Market: Key Players
Dnurse, Emperra, Jiangsu Delfu, Roche, Common Sensing, Diamesco, Patients Pending, and Companion Medical. These are the top 8-players that are functioning in the global market for smart insulin pens.
Financial Year 2020 Earnings Forecast for Roche
The stock analyst at Jefferies Financial Group lifted the FY2020 earnings of the company Roche. According to Zacks investment research, the earnings per share of the Roche estimation has been issued on February 4, 2019. The analyst of Jefferies Financial Group, P. Welford has predicted that the firm will earn $2.46 per share in this year as compared to the previous year which was $2.37 per share. The Jefferies Financial Group has also issued an estimation for the company’s holdings earnings for the financial year for 2021 at $2.61 earnings per share, the financial year 2022 earnings at $2.79 earnings per share, and the earnings for the financial year 2023 will be $3.08 earnings per share.