Smart Insulin Pens and Pumps Market Size To Hit USD 6.3 Billion By 2026Posted by Neha Bora on March 17th, 2020 San Francisco, 17 March 2020: The Report Smart Insulin Pens And Pumps Market Size, Share & Trends Analysis Report By Product (MiniMed, Accucheck, Tandem, Omnipod, Inpen, Pendiq 2.0), By End Use, By Region, And Segment Forecasts, 2019 – 2026 The global smart insulin pens and pumps market size is expected to reach USD 6.3 billion by 2026, registering around 10.0% CAGR over the forecast period according to a new report by Grand View Research, Inc. Major market drivers include continuous technological advancements in the field of diabetes care along with growing adoption of advanced diabetes management methods. The rising geriatric population coupled with the increasing incidence of diabetes as lifestyle associated disease are the factors expected to drive the product demand. Self-injection devices with integrated connectivity have become an important element of the digital ecosystem. Smart insulin pens and pumps have created new standards for diabetes care. With the advent of Artificial Intelligence (AI), the entire paradigm of diabetes management has been transformed from simple Bluetooth enabled insulin delivery devices to an artificial pancreas. Furthermore, increasing investment and rising number of new product launches are expected to widen growth opportunities. For Instance, in July 2017, Cellnovo a French medtech company announced to raise USD 19.27 million to improve its product and to continue the R&D in artificial pancreas system. Many key players are focusing on technological collaborations, which is expected to have a long-term positive impact on the market. For instance, in September 2019, Medtronic collaborated with Novo Nordisk to integrate Novo future smart insulin pen dosage data with Medtronic CGM devices. Further key findings from the report suggest:
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