Global Smart Insulin Pens market will reach 16 million US$ by the end of 2025

Publisher: QYResearch
Published Date: 2019/8/21

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.

The Smart Insulin Pens market was valued at 8 Million US$ in 2017 and is projected to reach 16 Million US$ by 2025, at a CAGR of 8.6% during the forecast period. In this study, 2017 has been considered as the base year and 2018 to 2025 as the forecast period to estimate the market size for Smart Insulin Pens.

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