PORTLAND, Oregon and PUNE, India, October 4, 2017 /PRNewswire/ --
According to a new report published by Allied Market Research, titled, "Smart Insulin Pens Market by Type, Usability, and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global smart insulin pens market
Smart insulin pen is used to deliver insulin into diabetic patients. Increase in demand for self-injection devices, rise in prevalence of diabetes, and accuracy in dosage delivery of insulin are expected to drive the market growth. However, limited usage of smart insulin pens for patients requiring a mixture of two types of insulin restrict the market growth.
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First generation pens are expected to dominate the market throughout the analysis period. However, the second generation pens segment is expected to register the highest CAGR of 12.3%.
According to Pallavi Jaiswal, Research Analyst, Healthcare Research at Allied Market Research, "The benefits offered by smart insulin pens is the major factor driving the growth of the market. For instance, a patient experiences less injection pain while using smart insulin pen, which in turn propels the market growth."
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KEY FINDINGS OF THE STUDY
Asia-Pacific is projected to register the highest CAGR of 12.0%, owing to rise in incidence of diabetes coupled with rising geriatric population. In addition, surge in awareness of benefits of smart insulin pens, such as it is beneficial for people with vision problems, offers a lucrative opportunity for the market growth.
The major companies profiled in the report are Eli Lilly and Company, Novo Nordisk, Companion Medical, DIAMESCO, and Emperra GmbH.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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SOURCE Allied Market Research
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