Key players and the manufacturers of the medical devices are taking immense efforts in developing ground-breaking products due to the rapid increase in diabetic patients across the globe. This step in turn will benefit the market for smart insulin pens on a larger basis. Besides, increasing reliability of medical professionals and patients on the data attained from the clinical trials have been driving the production sales of smart insulin pens across the globe.
A well-known research company has come up with certain facts as well figures with regards to the report on market for smart insulin pens. The report so far has delivered that the market for smart insulin pens will be growing at an outstanding pace by 17.9% CAGR over the projection period 2017-2027. Also, the market for smart insulin pens are expected to reach an estimation of nearly US$ 0.86Mn by the end of 2027. Apart from all this, the most important companies operating in the market for smart insulin pens include Companion Medical, Inc., Sanofi S.A., Common Sensing, Inc., Novo Nordisk, Eli Lilly and Company, DiabNext and Patients Pending Ltd amongst others.
The aforesaid companies are likely to witness a notable growth in the coming years across the globe, which will be positively impacting the expansion of market for smart insulin pens. Leading players and manufacturers will be driving their focus on developing strategies that would be beneficial for the expansion of market for smart insulin pens on a larger basis, which includes advancement, innovation and growth of product portfolio.
Companion Medical, Inc. Introduced an Innovative System for Smart Insulin Pens
The leading companies and the manufacturers must note the point that Companion Medical, Inc. recently introduced Insights by InPen, which is considered as diabetes management system. This innovative system analyzes and aggregates data from the linked insulin injection pen of Companion Medical, Inc. Customers must note that this system can be beneficial for them with regards to information on missed doses, dose calculator usage, average over-all daily insulin dose as well as average glucose. In developed countries such as the U.S., these data are available only when prescribed by the physician.
Besides, the MDI users can receive accessible, actionable and meaningful data, which can be exchanged directly between the patient and physician through mobile phones. Most of all, the innovative Insights by InPen can benefit healthcare providers with optimization of treatments for the MDI users, similar to ones utilized for the insulin pump users.
Common Sensing, Inc. Together with Haselmeier to Develop Smart Monitoring Solution for Smart Insulin Pens
A new collaboration has taken place between Common Sensing, Inc. and Haselmeier for the purpose of developing smart connected monitoring as well as support solutions that would be highly beneficial for the injectable medicine users. The focal point is that subcutaneous drug delivery system of Haselmeier for self-administration is likely to be combined with the Gocap injectors monitoring technology of Common Sensing, Inc. This would help in delivering the first ever smart disposable injector pens platform.
Customers can take account of the point that Haselmeier is planning to sell its platform, thereby expecting to attract attention from both existing as well as emerging customers. This new technology can be utilized for over-all injectable drugs, which are to be delivered through injectable pens.
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