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Phase-Xs | Biologics & Biosimilars | Coherent Market Insights

Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

A smart insulin pen is a reusable injector pen with an intuitive smartphone app that can help people with diabetes to manage insulin delivery in a better way. This smart system calculates and tracks doses and provides helpful reminders, alerts, and reports. Smart insulin pen are either reusable or pre-filled for the application of delivering accurate insulin dose in Type 1 Diabetes and Type 2 Diabetes. The company’s producing smart insulin pens are predominantly engaged in designing and manufacturing of first and second generation smart insulin pens.

The Latin America smart insulin pen market is estimated to be valued at US$ 5.83 million in 2021 and is expected to exhibit a CAGR of 8.7% during the forecast period (2021-2028).

Figure 1. Latin America Smart Insulin Pen Market Share (%) in Terms of Value, By Type, 2021

Latin America Smart Insulin Pen   | Coherent Market Insights

High number of individuals with pre-diabetic conditions and increasing prevalence of diabetes are expected to drive the market growth during the forecast period.

The increasing number of diabetes cases in Latin America is expected to drive the Latin America smart insulin pen market growth, as this will result in increased demand for treatment of diabetes. For instance, according to the International Diabetes Federation (IDF) Diabetes Atlas 2019, the prevalence of diabetes in Chile was approximately 1,262.2 out of 100,000 in 2019 and is expected to rise by 1,531.5 out of 100,000 population till 2030.

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Latin America Smart Insulin Pen Market Report Coverage

Report Coverage Details
Base Year: 2020 Market Size in 2021: US$ 5.83 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2021 to 2028
Forecast Period 2021 to 2028 CAGR: 8.7% 2028 Value Projection: US$ 10.42 Mn
Geographies covered:
  • Regions: Brazil, Mexico, Argentina, Colombia, Peru, Venezuela, Chile, Ecuador, Rest of Latin America
Segments covered:
  • By Type: First Generation, Second Generation (Bluetooth enabled pens, USB Connected pens)
  • By Usability: Prefilled, Reusable
  • By Indication: Type 1 diabetes, Type 2 diabetes
  • By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
Companies covered:

Medtronic Plc, Sanofi S.A., Novo Nordisk A/S, Eli Lilly and Company, Owen Mumford Ltd., BIOCORP, Jiangsu Delfu medical device Co., Ltd., BERLIN-CHEMIE AG, and F. Hoffmann-La Roche AG

Growth Drivers:
  • High number of individuals with pre diabetic conditions and increasing prevalence of diabetes
  • High prevalence of needle stick injuries in Latin America
Restraints & Challenges:
  • Availability of substitute products  

Figure 2.Latin America Smart Insulin Pen Market Share (%) in Terms of Value, By Usability, 2021

Latin America Smart Insulin Pen   | Coherent Market Insights

High prevalence of needle stick injuries in Latin America is anticipated to drive the market growth during the forecast period

High prevalence of needle stick injuries in Latin America is expected to drive the Latin America smart insulin pen market growth during the forecast period. For instance, according to the international journal of Epidemiology report on ‘Global prevalence of percutaneous injuries among healthcare workers: a systematic review and meta-analysis’ published in 2018, the prevalence of needle stick injuries in Latin America was approximately 7.7% in 2018

Latin America Smart Insulin Pen Market– Impact of Coronavirus (COVID-19) Pandemic

COVID-19 pandemic has affected the economy in three main ways; 1) by directly affecting the production and demand; 2) by creating disruptions in distribution channels; and 3) through its financial impact on companies and financial markets. Governments of various countries are focusing on the initiatives to fight against COVID-19 pandemic, and to stop the spread of coronavirus infections by implementing various measures in the countries. Moreover, to reduce the spread of COVID-19 in the country Brazil has implemented some measures and guidelines. For instance, in 2020, Brazil government announced economic assistance to the Brazilian population to fight against the economic crises such as unemployment and others observed in Brazil. Moreover, Government of Mexico taking initiatives to facilitate COVID-19 vaccination drive from healthcare facilities. For instance, in December 2020, Government of Mexico announced vaccination campaign drive in each state of Mexico to promote benefits of vaccination in the fight against COVID-19 pandemic

Latin America Smart Insulin Pen Market: Restraint

The major factor that hinders growth of the Latin America smart insulin pen market is availability of substitute products. For instance, according to the study published in Nature Biomedical Engineering February 2020, the researchers from UCLA, UNC School of Medicine developed a smart insulin-delivery patch, which monitors the glucose levels in people with diabetes and deliver the necessary insulin dosage for 24 hours. The adhesive patch has doses of insulin pre-loaded in tiny micro needles, which are less than 1 mm in length and delivers medicine quickly when the blood sugar levels reach a certain threshold. When blood sugar returns to normal, the patch's insulin delivery also slows down. Such patch delivery helps to prevent overdosing of insulin.

Key Players

Major players operating in the Latin America smart insulin pen market are Medtronic Plc, Sanofi S.A., Novo Nordisk A/S, Eli Lilly and Company, Owen Mumford Ltd., BIOCORP, Jiangsu Delfu medical device Co., Ltd., BERLIN-CHEMIE AG, and F. Hoffmann-La Roche AG

A smart insulin pen is an insulin delivery tool that offers some of the features of an insulin pump but without the always-connected experience required with pumps. A smart insulin pen can calculate each dose based on current blood sugar level, carbohydrate amounts, meal size, active insulin, and settings prescribed by patients doctor, deliver accurate half-unit doses, help prevent skipped or missed doses, send diabetes data to health care team whenever needed and work with patients smart phone or watch and popular diabetes data tracking platforms. Diabetes is a major public health problem that is approaching epidemic proportions globally, therefore, it is necessary to use smart insulin pens for a safe and effective administration of insulin to people suffering from Diabetes.

Market Dynamics

Key players operating in the market are focusing on acquisitions and partnerships, which is expected to drive the growth of the market over the forecast period. For instance, in February 2021, BIOCORP a company that designs, develops, manufactures delivery systems and innovative medical devices, entered into a partnership with Health2Sync, a Taiwan-based digital healthcare company, and SocialDiabetes, a Spain-based digital healthcare solution provider, for management of diabetes by integration of Mallya, a smart insulin pen cap manufactured by Biocorp with the digital applications developed by SocialDiabetes and Health2Sync. Furthermore, in September 2019, Sanofi S.A. and Abbott, a U.S.-based multinational medical devices and health care company, collaborated to integrate glucose sensing and insulin delivery technologies that would help to further simplify how people with diabetes manage their condition. The two companies would focus on developing FreeStyle Libre technology with insulin dosing information for future smart pens, insulin titration apps, and cloud software.

Key features of the study:

  • This report provides in-depth analysis of the Latin America smart insulin pen market and provides market size (US$ Mn) and compound annual growth rate (CAGR%) for the forecast period (2021–2028), considering 2020 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the Latin America smart insulin pen market based on the following parameters – Company Highlights, Types Portfolio, Key Highlights, Financial Performance, Market Strategies
  • Key companies covered as a part of this study include Medtronic Plc., Sanofi S.A., Novo Nordisk A/S, Eli Lilly and Company, Owen Mumford Ltd., BIOCORP, Jiangsu Delfu medical device Co., Ltd., BERLIN-CHEMIE AG, and F. Hoffmann-La Roche AG
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The Latin America smart insulin pen market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the Latin America smart insulin pen market

Detailed Segmentation:

  • Latin America Smart Insulin Pen Market, By Type:
    • First Generation
    • Second Generation
      • Bluetooth enabled pens
      • USB Connected pens
  •  Latin America Smart Insulin Pen Market, By Usability:
    • Prefilled
    • Reusable
  • Latin America Smart Insulin Pen Market, By Indication:
    • Type 1 diabetes
    • Type 2 diabetes
  • Latin America Smart Insulin Pen Market, By Distribution Channel:
    • Hospital Pharmacies
    • Retail Pharmacies
    • Online Pharmacies
  • Latin America Smart Insulin Pen Market, By Country:
    • Brazil
      • By Type :
        • First Generation
        • Second Generation
          • Bluetooth enabled pens
          • USB Connected pens
      • By Usability :
        • Prefilled
        • Reusable
      • By Indication :
        • Type 1 diabetes
        • Type 2 diabetes
      • By Distribution Channel
        • Hospital Pharmacies
        • Retail Pharmacies
        • Online Pharmacies
    • Mexico
      • By Type :
        • First Generation
        • Second Generation
          • Bluetooth enabled pens
          • USB Connected pens
      • By Usability :
        • Prefilled
        • Reusable
      • By Indication :
        • Type 1 diabetes
        • Type 2 diabetes
      • By Distribution Channel
        • Hospital Pharmacies
        • Retail Pharmacies
        • Online Pharmacies
    • Argentina
      • By Type :
        • First Generation
        • Second Generation
          • Bluetooth enabled pens
          • USB Connected pens
      • By Usability :
        • Prefilled
        • Reusable
      • By Indication :
        • Type 1 diabetes
        • Type 2 diabetes
      • By Distribution Channel
        • Hospital Pharmacies
        • Retail Pharmacies
        • Online Pharmacies
    • Colombia
      • By Type :
        • First Generation
        • Second Generation
          • Bluetooth enabled pens
          • USB Connected pens
      • By Usability :
        • Prefilled
        • Reusable
      • By Indication :
        • Type 1 diabetes
        • Type 2 diabetes
      • By Distribution Channel
        • Hospital Pharmacies
        • Retail Pharmacies
        • Online Pharmacies
    • Peru
      • By Type :
        • First Generation
        • Second Generation
          • Bluetooth enabled pens
          • USB Connected pens
      • By Usability :
        • Prefilled
        • Reusable
      • By Indication :
        • Type 1 diabetes
        • Type 2 diabetes
      • By Distribution Channel
        • Hospital Pharmacies
        • Retail Pharmacies
        • Online Pharmacies
    • Venezuela
      • By Type :
        • First Generation
        • Second Generation
          • Bluetooth enabled pens
          • USB Connected pens
      • By Usability :
        • Prefilled
        • Reusable
      • By Indication :
        • Type 1 diabetes
        • Type 2 diabetes
      • By Distribution Channel
        • Hospital Pharmacies
        • Retail Pharmacies
        • Online Pharmacies
    • Chile
      • By Type :
        • First Generation
        • Second Generation
          • Bluetooth enabled pens
          • USB Connected pens
      • By Usability :
        • Prefilled
        • Reusable
      • By Indication :
        • Type 1 diabetes
        • Type 2 diabetes
      • By Distribution Channel
        • Hospital Pharmacies
        • Retail Pharmacies
        • Online Pharmacies
    • Ecuador
      • By Type :
        • First Generation
        • Second Generation
          • Bluetooth enabled pens
          • USB Connected pens
      • By Usability :
        • Prefilled
        • Reusable
      • By Indication :
        • Type 1 diabetes
        • Type 2 diabetes
      • By Distribution Channel
        • Hospital Pharmacies
        • Retail Pharmacies
        • Online Pharmacies
    • Rest of Latin America
      • By Type :
        • First Generation
        • Second Generation
          • Bluetooth enabled pens
          • USB Connected pens
      • By Usability :
        • Prefilled
        • Reusable
      • By Indication :
        • Type 1 diabetes
        • Type 2 diabetes
      • By Distribution Channel
        • Hospital Pharmacies
        • Retail Pharmacies
        • Online Pharmacies
  • Company Profiles
    • Medtronic Plc.*
      • Company Highlights
      • Types Portfolio
      • Key Highlights
      • Financial Performance
      • Market Strategies
    • Sanofi S.A.
    • Novo Nordisk A/S
    • Eli Lilly and Company
    • Owen Mumford Ltd.
    • BIOCORP
    • Jiangsu Delfu medical device Co., Ltd.
    • BERLIN-CHEMIE AG
    • F. Hoffmann-La Roche AG

“*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snapshot, By Type
      • Market Snapshot, By Usability
      • Market Snapshot, By Indication
      • Market Snapshot, By Distribution Channel
      • Market Snapshot, By Country
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Opportunity
    • Impact Analysis
    • PEST Analysis
    • Key Difference in Disposable Pen & Non-disposable Smart Insulin Pen
    • Technology Advancements
    • New Product Launch
    • Major Brand Analysis
    • Regulatory Scenario
    • Reimbursement Scenario
    • PORTER’S Analysis
    • Acquisition and Partnership
  4. Latin America Smart Insulin Pen Market – Impact of Coronavirus (COVID-19) Pandemic
    • Government Initiatives
    • COVID 19 Epidemiology
    • Impact on Supply and Demand
  5. Latin America Smart Insulin Pen Market, By Type, 2017 – 2028, (US$ Mn)
    • Overview
      • Market Share Analysis, 2021 and 2028 (%)
      • Y-o-Y Growth Analysis, 2017 – 2028
      • Segment Trends
    • First Generation
      • Overview
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Million)
    • Second Generation
      • Overview
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Million)
        • Bluetooth enabled pens
          • Overview
          • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Million)
        • USB Connected pens
          • Overview
          • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Million)        
  6. Latin America Smart Insulin Pen Market, By Usability, 2017 – 2028, (US$ Mn)
    • Overview
      • Market Share Analysis, 2021 and 2028 (%)
      • Y-o-Y Growth Analysis, 2017 – 2028
      • Segment Trends
    • Prefilled
      • Overview
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Million)
    • Reusable
      • Overview
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Million)
  7. Latin America Smart Insulin Pen Market, By Indication, 2017 – 2028, (US$ Mn)
    • Overview
      • Market Share Analysis, 2021 and 2028 (%)
      • Y-o-Y Growth Analysis, 2017 – 2028
      • Segment Trends
    • Type 1 diabetes
      • Overview
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Million)
    • Type 2 diabetes
      • Overview
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Million)
  8. Latin America Smart Insulin Pen Market, By Distribution Channel, 2017 – 2028, (US$ Mn)
    • Overview
      • Market Share Analysis, 2021 and 2028 (%)
      • Y-o-Y Growth Analysis, 2017 – 2028
      • Segment Trends
    • Hospital Pharmacies
      • Overview
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Million)
    • Retail Pharmacies
      • Overview
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Million)
    • Online Pharmacies
      • Overview
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Million)
  9. Latin America Smart Insulin Pen Market, By Country, 2017 – 2028, (US$ Mn)
    • Overview
      • Market Share Analysis, 2021 and 2028 (%)
      • Y-o-Y Growth Analysis, 2017–2028
      • Regional Trends
    • Brazil
      • Overview
      • Market Size and Forecast, and Y-o-Y Growth, By Type, 2017 – 2028, (US$ Million)
      • Market Size and Forecast, and Y-o-Y Growth, By Usability, 2017 – 2028, (US$ Million)
      • Market Size and Forecast, and Y-o-Y Growth, By Indication, 2017 – 2028, (US$ Million)
      • Market Size and Forecast, and Y-o-Y Growth, By Distribution Channel, 2017 – 2028, (US$ Million)
    • Mexico
      • Overview
      • Market Size and Forecast, and Y-o-Y Growth, By Type, 2017 – 2028, (US$ Million)
      • Market Size and Forecast, and Y-o-Y Growth, By Usability, 2017 – 2028, (US$ Million)
      • Market Size and Forecast, and Y-o-Y Growth, By Indication, 2017 – 2028, (US$ Million)
      • Market Size and Forecast, and Y-o-Y Growth, By Distribution Channel, 2017 – 2028, (US$ Million)
    • Argentina
      • Overview
      • Market Size and Forecast, and Y-o-Y Growth, By Type, 2017 – 2028, (US$ Million)
      • Market Size and Forecast, and Y-o-Y Growth, By Usability, 2017 – 2028, (US$ Million)
      • Market Size and Forecast, and Y-o-Y Growth, By Indication, 2017 – 2028, (US$ Million)
      • Market Size and Forecast, and Y-o-Y Growth, By Distribution Channel, 2017 – 2028, (US$ Million)
    • Colombia
      • Market Size and Forecast, and Y-o-Y Growth, By Type, 2017 – 2028, (US$ Million)
      • Market Size and Forecast, and Y-o-Y Growth, By Usability, 2017 – 2028, (US$ Million)
      • Market Size and Forecast, and Y-o-Y Growth, By Indication, 2017 – 2028, (US$ Million)
      • Market Size and Forecast, and Y-o-Y Growth, By Distribution Channel, 2017 – 2028, (US$ Million)
    • Peru
      • Overview
      • Market Size and Forecast, and Y-o-Y Growth, By Type, 2017 – 2028, (US$ Million)
      • Market Size and Forecast, and Y-o-Y Growth, By Usability, 2017 – 2028, (US$ Million)
      • Market Size and Forecast, and Y-o-Y Growth, By Indication, 2017 – 2028, (US$ Million)
      • Market Size and Forecast, and Y-o-Y Growth, By Distribution Channel, 2017 – 2028, (US$ Million)
    • Venezuela
      • Overview
      • Market Size and Forecast, and Y-o-Y Growth, By Type, 2017 – 2028, (US$ Million)
      • Market Size and Forecast, and Y-o-Y Growth, By Usability, 2017 – 2028, (US$ Million)
      • Market Size and Forecast, and Y-o-Y Growth, By Indication, 2017 – 2028, (US$ Million)
      • Market Size and Forecast, and Y-o-Y Growth, By Distribution Channel, 2017 – 2028, (US$ Million)
    • Chile
      • Overview
      • Market Size and Forecast, and Y-o-Y Growth, By Type, 2017 – 2028, (US$ Million)
      • Market Size and Forecast, and Y-o-Y Growth, By Usability, 2017 – 2028, (US$ Million)
      • Market Size and Forecast, and Y-o-Y Growth, By Indication, 2017 – 2028, (US$ Million)
      • Market Size and Forecast, and Y-o-Y Growth, By Distribution Channel, 2017 – 2028, (US$ Million)
    • Ecuador
      • Overview
      • Market Size and Forecast, and Y-o-Y Growth, By Type, 2017 – 2028, (US$ Million)
      • Market Size and Forecast, and Y-o-Y Growth, By Usability, 2017 – 2028, (US$ Million)
      • Market Size and Forecast, and Y-o-Y Growth, By Indication, 2017 – 2028, (US$ Million)
      • Market Size and Forecast, and Y-o-Y Growth, By Distribution Channel, 2017 – 2028, (US$ Million)
    • Rest of Latin America
      • Overview
      • Market Size and Forecast, and Y-o-Y Growth, By Type, 2017 – 2028, (US$ Million)
      • Market Size and Forecast, and Y-o-Y Growth, By Usability, 2017 – 2028, (US$ Million)
      • Market Size and Forecast, and Y-o-Y Growth, By Indication, 2017 – 2028, (US$ Million)
      • Market Size and Forecast, and Y-o-Y Growth, By Distribution Channel, 2017 – 2028, (US$ Million)
  10. Competitive Landscape
    • Medtronic Plc.
      • Company Highlights
      • Types Portfolio
      • Key Highlights
      • Financial Performance
      • Market Strategies
    • Sanofi S.A.
      • Company Highlights
      • Types Portfolio
      • Key Highlights
      • Financial Performance
      • Market Strategies
    • Novo Nordisk A/S
      • Company Highlights
      • Types Portfolio
      • Key Highlights
      • Financial Performance
      • Market Strategies
    • Eli Lilly and Company
      • Company Highlights
      • Types Portfolio
      • Key Highlights
      • Financial Performance
      • Market Strategies
    • Owen Mumford Ltd.
      • Company Highlights
      • Types Portfolio
      • Key Highlights
      • Financial Performance
      • Market Strategies
    • BIOCORP
      • Company Highlights
      • Types Portfolio
      • Key Highlights
      • Financial Performance
      • Market Strategies
    • Jiangsu Delfu medical device Co., Ltd.
      • Company Highlights
      • Types Portfolio
      • Key Highlights
      • Financial Performance
      • Market Strategies
    • BERLIN-CHEMIE AG
      • Company Highlights
      • Types Portfolio
      • Key Highlights
      • Financial Performance
      • Market Strategies
    • Hoffmann-La Roche AG
      • Company Highlights
      • Types Portfolio
      • Key Highlights
      • Financial Performance
      • Market Strategies
    • Analyst Views
  11. Section
    • Research Methodology
    •  About us and Services

*Browse 50 market data tables and 30 figures on "Latin America Smart Insulin Pen Market” - Global forecast to 2028

FAQgrowicon

Frequently Asked Questions

The Latin America Smart Insulin Pen Market size is estimated to be valued at US$ 5.83 million in 2021 and is expected to exhibit a CAGR of 8.7% between 2021 and 2028.
Factors such as high number of individuals with pre diabetic conditions and increasing prevalence of diabetes and high prevalence of needle stick injuries in Latin America are expected to drive the market growth during the forecast period.
First Generation segment is expected to hold a major market share during the forecast period.
The major factors hampering growth of the Latin America smart insulin pen market include availability of substitute products
Major players operating in the market are Medtronic Plc, Sanofi S.A., Novo Nordisk A/S, Eli Lilly and Company, Owen Mumford Ltd., BIOCORP, Jiangsu Delfu medical device Co., Ltd., BERLIN-CHEMIE AG, and F. Hoffmann-La Roche AG
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