Smart Insulin Pen Market Is Gaining Robust Traction Due to Increasing Prevalence of Diabetes Worldwide
A smart insulin pen is a Bluetooth-enabled wireless device with an intuitive smartphone app that can help people with diabetes to manage insulin delivery. Insulin is an important compound for the management of diabetes, especially for type 2 diabetes. Smart insulin pens track critical data such as date, time, and the amount of insulin to offer safe/efficient diabetes management. The major factor driving the growth of the smart insulin pen market is the increasing prevalence of diabetes around the world. According the International Diabetes Federation (IDF), in 2019, around 463 million adults (aged 20 to 79 years) were living with diabetes, and this number is expected to reach 700 million by 2045. This in turn is expected to increase the demand for smart insulin pens, driving the growth of the smart insulin pens market. Prevalence has been rising more rapidly in low- and middle-income countries than in high-income countries. According to the World Health Organization (WHO), in 2...