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The global smart insulin pens market is valued at USD 4.31 billion in 2024 and is poised to reach USD 10.36 billion by 2035, representing a CAGR of 8.30% during the forecast period.
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Smart insulin pen is a form of connected drug delivery device integrated with intuitive applications, sensors and injectors in order to deliver and manage the precise insulin dosage in the diabetic patients. These smart insulin pens can be connected wirelessly with smart phones / tablets in order to track the dosage time and amount of dosage to be administered in real time.
Through the information collected using smart sensors, these connected insulin pens allow the end user to change their exercise regimen, dietary habits and glucose intake. It is worth mentioning here that diabetic patients, specifically those living with Type 1 diabetes, are required to administer insulin regularly to maintain blood glucose levels and to reduce the risk of developing complications. Although conventional injections are available to self-administer the insulin dosage, the lack of knowledge about dosage quantity and injection techniques may reduce the patient compliance.
Considering the challenge, smart insulin pens emerge as a potential solution to administer insulin dosage precisely, with real time monitoring of time and quantity of dosage, thereby increasing patient satisfaction. Notably, the growing awareness about remote patient monitoring devices and benefits of diabetes management has further increased the adoption rate of smart insulin pens on a global level. As stated by Nancy Kapila, Associate at Roots Analysis, “Driven by the growing concern for diabetes across the world, we are led to believe that the market for smart insulin pens is anticipated to grow at a steady pace during the projected period.”
It is worth noting here that government organizations and key stakeholders are increasing strategic initiatives followed by investments, latest product launches, acquisitions, partnerships and collaboration, thereby, collectively contributing to the growth of this market during the forecast period. It is worth mentioning that Novo Nordisk had launched NovoPen 6 and NovoPen Echo Plus, its first smart insulin pens in the UK market in 2022. In the same year, Eli Lilly rolled out Tempo® personalized diabetes management platform in the US. The platform consists of three components, namely Tempo Smart Button®, TempoSmart™ (a compatible app) and Tempo Pen® (a prefilled insulin pen), to support the diabetic patients.
More recently, several industry players are focusing on the technological innovations in smart insulin pens for better connectivity, data collection and accurate dosage administration. However, the primary aim pertains to cost-effectiveness and easy administration in the end user.
The research report provides invaluable market insights of the industry stakeholders who are active across various segments of the growing industry as mentioned in the table below.
| Key Report Attributes | Details | |
| Historical Trend | Since 2019 | |
| Forecast Period | Till 2035 | |
| Market Size 2035 | USD 10.36 billion | |
| Market CAGR (Till 2035) | 8.30% | |
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| Type of Connectivity |
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| Type of Disease Indication |
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| Distribution Channel |
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| Geographical Regions |
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| Key Companies Profiled |
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| PowerPoint Presentation Complimentary) |
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| Customization Scope | 15% Free Customization | |
| Excel Data Packs (Complimentary) |
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One of the key objectives of the market report was to estimate the current smart insulin pens market size, opportunity and the market growth potential, over the forecast period, till 2035. We have provided informed estimates on the likely evolution of the market for the forecast period.
Additionally, the market report features the likely distribution of smart insulins pens market by type of usability (prefilled and reusable), type of connectivity (Bluetooth and USB), type of disease indication (Type 1 Diabetes, and Type 2 Diabetes), distribution channel (hospital pharmacies, online sales and retail pharmacies), geographical regions (North America, Europe, Asia Pacific, Middle East and North Africa, and Latin America) and leading players.
To account for the uncertainties associated with the development of smart insulin pens and to add robustness to our model, we have provided three market forecast scenarios, portraying the conservative, base and optimistic tracks of the market’s evolution.
All actual figures have been sourced and analyzed from publicly available information forums and primary research discussions. Financial figures mentioned in this market research report are in USD, unless otherwise specified.
Based on the device usability, the global smart insulin pens market value is segmented into prefilled insulin pens and reusable insulin pens. Presently, reusable insulin pens segment occupies the highest share (62%) of the market. This dominance is due to the fact that reusable smart insulin pens feature the timing and memory function that helps patients to adhere their dosage time.
However, the prefilled insulin pens segment is expected to grow at a higher CAGR driven by the growing awareness of advanced method for delivering insulin to manage diabetes. In September 2023, Sanofi launched SoloSmart®, the first smart data sensor, which can be linked to prefilled insulin pens, in order to record the insulin injection in real time.
This segment highlights the distribution of global insulin pens market value by type of connectivity into Bluetooth and USB. It is worth highlighting here that bluetooth connectivity accounts for the highest share of the market. This can be attributed to the fact that bluetooth technology supports a wide range of devices and platforms, offering better flexibility to the users for connecting smart insulin pens from a distance for drug administration.
Driven by the advantages offered by bluetooth technology, this segment will continue to grow at a higher CAGR during the projected period. It is worth noting here that several industry players are also focusing on the development of smart insulin pens with bluetooth connectivity, which further contributed to the growth of the segment during the forecast period.
Notably, the first smart insulin pen Esysta, that can transfer the blood glucose levels data via Bluetooth, was launched by Emperra in 2016. At the time of launch, Christian Krey, Chief Executive Officer, Emperra stated that “The smart insulin pen and corresponding software appeal to patients and doctors who prefer state-of-the-art technical solutions and who have recognized that the digitalization of diabetes management is a simple and reliable solution.”
The global smart insulin pens industry is distributed across Type 1 diabetes and Type 2 diabetes. According to our market study, currently Type 1 diabetes accounts for the highest smart insulin pens market share, driven by the increase in the number of insulin-dependent patients and growing understanding about self-management of diabetes.
It is important to highlight here that Type 2 diabetes is expected to grow at a higher CAGR during the forecast period. This can be attributed to the growing preferences for advanced drug device combination products for the management of type 2 diabetes.
Based on the distribution channel, the global market is segmented into hospital pharmacies, online sales, and retail pharmacies. Currently, sales through hospital pharmacies account for the highest smart insulin pens market share (43%). Hospitals serve as the primary healthcare centers that help in managing diabetes in patients who require insulin therapy frequently. Moreover, hospitals offer advanced medical devices, infrastructure and clinical experts who can operate smart insulin devices adequately.
However, in the future, retail pharmacies and online sales are anticipated to grow at a higher CAGR during the forecast period. This lucrative growth is expected to be driven by the growing preferences for smart insulin delivering devices remotely and shift towards online sales owing to ease of access.
On the basis of geographical regions, the global smart insulin pens market value is distributed across North America, Europe, Asia Pacific, Middle East and North Africa, and Latin America. According to our market analysis, presently North America holds the highest share (35%) of the market, driven by the growing cases of diabetes in this region. As per the recent report of Centers for Disease Control and Prevention, in 2024, around 38.4 million people in the United States suffer from diabetes. Thus, the increasing prevalence of diabetes has surged the demand for smart insulin delivery devices for self-administration which is anticipated to be the key driver for propelling growth of the market in this region.
Furthermore, the increasing efforts by the leading players established in this region for the development of advanced smart insulin pens has further contributed to the growth of this region. It is important to highlight here that in Asia Pacific, the market for smart insulin pens is likely to grow at a higher CAGR during the forecast period owing to the increasing geriatric population with diabetes.
The “Smart Insulin Pens Market: Industry Trends and Global Forecast, till 2035” industry research report also features an in-depth analysis, highlighting the capabilities of various industry stakeholders engaged in this market. The market report highlights the efforts of several stakeholders engaged in this market segment of various domains. Key takeaways of the market analysis are briefly discussed below.
Currently, the market landscape is characterized by the presence of various established players and startup companies who are currently engaged in this market for technological innovations in insulin delivery devices. The majority of the industry leaders are focusing on the integration of advanced technologies, features and seamless connectivity features in smart insulin pens that enable patients to track and monitor their dosage accurately.
Overall, the market seems highly competitive witnessing the presence of several small, mid-sized and large entrepreneurs. In order to maintain a robust presence, these stakeholders are leveraging partnerships and acquisitions. As more device developers enter into the market for the development of innovative drug delivery devices, we believe that smart insulin pens industry will continue to grow at a steady pace.
The global smart insulin pens market is primarily driven by the growing incidence of diabetes globally and preferences of smart insulin pens over traditional injections. Smart insulin pens are integrated with advanced technologies and applications that help in tracking previous insulin dosage taken by the patients and also enable monitoring of blood glucose levels in real time.
This real time analysis helps patients to administer desired dosage in appropriate quantity, thereby enabling them to manage diabetes in a home care setting wherein the end user is not a healthcare expert. Moreover, the emerging technological advancements in smart insulin pens such as injection site optimization, temperature and dosage consumption monitoring are likely to propel the market during the forecast period.
Smart insulin pens offer several significances to the patients, offering self-administering, dosage monitoring and real time glucose levels analysis in the body. Despite growing demand, the market witness several challenges that may impede growth during the forecast period.
Some of the potential challenges are high cost and limited availability of smart insulin pens. It is worth noting here that the integration of advanced technologies enhances the overall cost of smart insulin pens. The high cost may limit the adoption rate, which further impacts the overall market growth during the forecast period.
Some of the potential opportunities that accelerate market growth include integration of innovative technologies and smart app connectivity. For instance, industrial leaders are focusing on the development of smart insulin pens that can seamlessly connect with technological tools and applications such as armbands, smart apps and smartwatches. These apps helps in the tracking of blood glucose levels, physical activities, daily dosage and requirement of insulin to maintain diabetes. For instance,
Novo Nordisk developed NovoPen® 6 and NovoPen Echo® Plus smart insulin pens that can save and record data of 800 insulin doses and airshots. The data collected through this device further supports in managing the insulin dose. In addition to technological advancements, the growing shift towards smart drug delivery devices has created an abundance of opportunities for the industry stakeholders to drive innovations in this field.
The industry research shows that the 2024 market size for smart insulin pens is valued at USD 4.31 billion. Driven by the growing preferences for advanced insulin delivery devices, the market is poised to reach USD 10.36 billion by 2035, representing a higher CAGR of 8.30% during the forecast period. Over the years, the stakeholders have focused on strengthening their capabilities for the development of connected insulin pens, through acquiring other players working in this domain.
The acquisition of Glycostatis by Eli Lilly (2016), Companion Medical by Medtronic (2020), BIOCORP by Novo Nordisk (2023) have shown the remarkable interest of the big players in this domain. With more such acquisitions, we are led to believe that the industry will observe the development of novel digital insulin pens.
Examples of key companies who are currently engaged in the market (which have also been profiled in this market report; the complete list of items is available in the full report) include Berlin-Chemie, Bigfoot Biomedical, Digital Medics, Eli Lilly, Emperra, Medtronic, Novo Nordisk, Pendiq and Sanofi. This market report includes an easily searchable excel database of all the protein engineering companies worldwide.
Several recent developments have taken place in the field of smart insulin pens. We have outlined some of these recent initiatives below.