Smart Insulin Pens Market Size, Share, Growth Analysis, By Product(Smart insulin pen, adaptors for conventional pen), By Connectivity type (Bluetooth, and USB), By Indication(Type 1 diabetes, type 2 diabetes), By End-user(Hospitals & clinics, ambulatory surgical centers, home care settings), By Region(North America, Europe, Asia-Pacific, Latin America), By Region - Industry Forecast 2024-2031

Global Smart Insulin Pens Market size was valued at USD 3.66 billion in 2022 and is expected to rise from USD 4.03 billion in 2023 to reach a value of USD 8.63 billion by 2031, at a CAGR of 10% during the forecast period (2024–2031).

Smart insulin pens are a better solution for  diabetes management because they help in external administration of insulin to diabetic patients. The smart insulin pens are designed in such a manner that they aid in the administration of doses on a regular basis as a result of the system's timely reminders and alerts. Owing to their ease of use, smart insulin pens are becoming increasingly popular. The smart device can be attached to an existing insulin pen of a diabetic patient. The market for smart insulin pens is expanding due to the ability to provide timely alerts or periodic reminders, which aids in providing the correct insulin dosage. It also aids in monitoring any missed doses, which is critical for diabetic patients. This smart insulin pen has provided a very convenient solution for the management of type 1 and type 2 diabetes. Maintaining a record of the patient's diabetes profile by monitoring the diabetes levels at a specific time and date, as well as the sequential order is crucial. The smart insulin pen is an expert at determining the temperature range of the insulin dose and moreover keeps a close eye on the expiry date of the medicine to ensure the safety of patients from health hazards. The COVID-19 pandemic had a significant negative impact on the smart insulin pen market, thereby, restricting growth. The government's strict lockdown and restrictions, as well as restricted movement, had kept people at home, preventing laboratory testing and resulting in unchecked diabetes profiles. As a result, the medical sector's diabetic services were severely hampered.

US Smart Insulin Pens Market  is poised to grow at a sustainable CAGR for the next forecast year.