Vertical: HealthcareBase Year: 2019
Market Size (2019)
—
Projected (2027)
—
CAGR (2016–2027)
N/A
Key Players
7+
This report covers Smart Insulin Pens Market with forecasts from 2016 to 2027. 7 key companies are profiled.
Smart Insulin Pens Market is a key focus area for market intelligence and strategic research.
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View Subscription PlansThe evolution of technologies to manage diabetes has led to the emergence of smart insulin pens. It helps both patients and health care professionals overcome problems such as poor insulin adherence, incorrect insulin initiation, and medication errors. Smart insulin pens are used for external insulin delivery and offer an easy to carry solution to diabetes management. In recent years, the demand for insulin pens has increased owing to the rise in the incidence of diabetic patients coupled with their cost-effective nature as compared to insulin pumps. In addition, their simple functioning and accuracy-related to insulin dosing further stimulate their demand.
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View Subscription PlansThis report applies a rigorous multi-stage research process combining primary interviews, secondary data sources, and bottom-up market modelling to ensure accuracy and completeness across all segments and geographies.
Base Year
2019
Historical Period
2016 – 2018
Forecast Period
2020 – 2027
Primary Interviews
150+
Historical data (2016–2019) and forecast period (2019–2027)
Our research process spans primary interviews with industry stakeholders combined with comprehensive secondary data analysis, validated through triangulation across multiple independent sources.
The global smart insulin pens market is characterized by the presence of many global, regional, and local vendors catering to the demand created by a large patient pool suffering from underlying conditions such as diabetes and contagious diseases. The market is highly competitive, with players competing and collaborating to gain a substantial market share in the global smart insulin pens market. Expansion into newer untapped markets, novel product launches, rising collaborative agreements, and decisions undertaken to achieve operational efficiency are key factors that aid market growth. Our analysis revealed that market players have adopted different strategies and innovative research & development techniques to expand their business and secure their position in the global smart insulin pens market. In recent years, strategic collaborations by major players for product development and regional expansion into untapped markets have been used as a strategy to obtain operational efficiency.
Companion Medical (US) is a leading provider of easy-to-use, affordable diabetes technology focused on advanced insulin delivery and real-time actionable insights. The company received US Food and Drug Administration (FDA) approval for InPen, a smart insulin pen used to improve diabetes care. In April 2020, Companion Medical launched a new version of the InPen app for people with Type 1 or Type 2 insulin-dependent diabetes by providing a fixed dose and meal estimation dose calculator. Its innovative product line would help the company to gain maximum share in the market.
Novo Nordisk (Denmark) is a leading global healthcare company. The company has a strong clinical pipeline of drugs for diabetes and other serious chronic diseases. In September 2019, Novo Nordisk A/S and Medtronic plc announced a collaboration that will develop solutions to integrate insulin dosing data from future Novo Nordisk smart insulin pens into Continuous Glucose Monitoring (CGM) devices from Medtronic, such as the Guardian Connect system. The company’s strong R&D pipeline and inorganic growth efforts would help it garner a larger share in the market.
The global pharmaceutical company, Eli Lily and Company, made an early investment in the market with the launch of HumaPen. In December 2017, it started feasibility studies to create a connected ecosystem of diabetes management using its automated insulin delivery (AID) system. With this system, the company is aiming to bring a hybrid closed-loop platform to the market that can help patients dose their insulin based on real-time continuous glucose monitoring (CGM).
Michael Porter’s five forces model gives a framework that models the global smart insulin pens market, which is influenced by five forces. The strategic business managers trying to create an edge over competing firms in the smart insulin pens market and can utilize this model to comprehend better the industry connection in which the firm operates. The components of each of the forces and the degree or impact of each component in the context of the global smart insulin pens industry have been broken down and analyzed.
BARGAINING POWER OF SUPPLIERS
The suppliers in the global smart insulin pens industry are the developers and manufacturers of smart insulin pens. There are a low number of suppliers in the global smart insulin pens market, leading to an averagely low amount of bargaining power in the market. The switching cost of these suppliers is less as suppliers tend to enter into long term associations with the smart insulin pens manufacturers. Due to the low bargaining power of suppliers, the profit potential of the global smart insulin pens industry is increasing.
BARGAINING POWER OF BUYERS
The bargaining power of smart insulin pens buyers is moderate in the global smart insulin pens market; this is because of a large number of economical insulin pens providers in the industry. There are a limited number of manufacturers or suppliers of smart insulin pens present in the industry, which makes it a medium competitive market. Hence, the availability of a low number of manufacturers expands the selection arena of the sellers for the buyers, which leads to a reduction in the bargaining power.
THREAT OF NEW ENTRANTS
The threat of new entrants is high in the global smart insulin pens market. The smart insulin pens market is also characterized by a reasonable degree of brand loyalty, where establishing a brand name is difficult for newcomers. The availability of standard insulin pens in the market would help manufacturers to adopt the technological change in the products and launch innovative products in the market. Furthermore, the cost involved in the manufacturing setup is medium, which discreetly comforts the new entrants to enter the market easily.
THREAT OF SUBSTITUTES
The threat of substitutes in the global smart insulin pens market is very moderate. The buyer’s propensity to substitute is less due to the brand loyalty of customers in this market. In addition, the availability of the standard insulin pens in the market can affect the purchasing decisions of the buyers.
INTENSITY OF RIVALRY
The degree of competition in the global smart insulin pens market is considered to be moderate. The reserved degree of product differentiation among existing players increases the intensity of rivalry in the market. Smart insulin pens manufacturing companies are trying to develop products with high quality and enhanced safety to increase the demand for these products in the developed countries and developing regions. To overcome the competition, players are engaged in developing a process to lower their manufacturing costs. Moreover, the players are also developing advanced products for differentiating their brand from their competitors.
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Analytical insights on Smart Insulin Pens Market covering market dynamics, competitive landscape, and strategic outlook.
Smart Insulin Pens Market represents a significant market opportunity with multiple growth drivers across regions and segments.
The growing prevalence of diabetes globally, rising product launches and approvals, increasing geriatric population, sedentary lifestyle and unhealthy diet, and growing awareness and funding for treatment of diabetes are driving the global smart insulin pens market. However, the rising adoption of non-invasive drug delivery systems is expected to hamper the growth of this market during the forecast period. Nevertheless, untapped markets are likely to set a lucrative opportunity for the growth of this market in the near future.
Smart insulin pens are primarily used for diabetes management. The Increasing prevalence of diabetes is anticipated to boost the demand for these devices in the coming years. According to the data by the Centers for Disease Control and Prevention in 2017, an estimated 30.3 million people in the US were diagnosed with diabetes. Similarly, in the UK, according to the British Diabetic Association, about 3.69 million were diagnosed with diabetes in 2016, and it reached to 3.92 million in 2019. The increasing number of diabetic patients is expected to support the growth of the market.
Moreover, in 2019, according to the International Diabetes Federation (IDF), more than 1.1 million children and adolescents were living with type 1 diabetes across the globe. Similarly, according to the research article published in the National Center for Biotechnology Information (NCBI), the diabetic population in India is estimated to reach 69.9 million by 2025 and 80 million by 2030. The increasing population of diabetes is expected to boost the growth of the market during the forecast period.
The companies into the manufacturing of drugs and devices for diabetes treatment and prevention can expand their business by licensing their diabetes treatment products or signing distributor agreements with smaller companies present in untapped markets. Russia and South Africa are untapped markets as compared to China, India, or Brazil. Also, the prevalence of diabetes is increasing in these nations. According to the data published by the International Diabetes Federation in 2017, the incidence of diabetes in South Africa and Russia was 5.4% and 7.9%, respectively. South Africa reported 1,826,100 cases, and Russia reported 8,455,300 cases of diabetes in 2017. Therefore, the rising prevalence in these untapped markets is creating immense opportunities for companies to expand their businesses.
Increasing the adoption of non-invasive drug delivery devices such as the inhalation drug delivery system is likely to hamper the growth of the market during the forecast period. There are many advantages of non-invasive methods over invasive drug delivery systems that reduce the preference of invasive drug delivery systems in diabetic care management. The inhalation drug delivery system is a user-friendly technology, and aids self-administration and pain-free dosing for patients as compared to subcutaneous and intravenous methods. The MannKind Corporation (US) offers Afrezza, an inhalation drug used in the treatment of diabetes mellitus. According to a research study, the number of prescriptions of Afrezza increases by approximately 28% year on year (YoY).Hence, the increasing adoption of non-invasive drug delivery systems is expected to hamper the growth of the market during the forecast period.
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Longer horizon, organoid and microphysiological adoption may reshape segment mix; teams that invest early in assay interoperability and cloud QC hooks are better positioned to capture upside without fragmenting their analytics stack.
Profiles of 103 companies operating in the Smart Insulin Pens Market market, including revenue, employee count, and market positioning where available.
Showing 103 of 103 companies
Company Headquarters: Burgdorf, Switzerland Founded: 2003 Workforce: 1,604 Company Working: Ypsomed Holding AG (Ypsomed) develops, manufactures, and sells injection and infusion systems to pharmaceutical and biotechnology companies. The three business segments of the company include – Ypsomed Diabetes Care, Ypsomed Delivery Systems, and others. The company promotes and sells its products, directly to patients or through pharmacies and clinics under the umbrella brand, mylife Diabetes care. The company offers business-to-business (B2B) to pharmaceutical companies under Ypsomed Delivery Systems (YDS). Ypsomed operates in Switzerland, other European countries, North America, and internationally.
Company Headquarters: Sydney, Australia Founded: 2006 Workforce: ~ 11-50 Company Working: Digital Medics Pty Ltd (Digital Medics) offers innovative SmartPlus Digital Insulin Pen and the Diabetes IQ App for better diabetes care and control. Digital Medics Pty Ltd is the international representative for the SmartPlus insulin pen in Australia under the approval of the Therapeutic Goods Administration (TGA) in Australia.
Company Headquarters: Potsdam, Germany Founded: 2008 Workforce: ~51-100 Company Working: Emperra GmbH E-Health Technologies is a research and development-driven medical technology start-up company. It offers innovative concepts and solutions in the fields of e-health technologies and telediabetology. In its Esysta system, the company is known for combining innovative software with future-oriented hardware such as the first digitally connected insulin pen. The Esysta system is available and reimbursed in Germany. The company’s diabetic care product line is used for tracking, monitoring, and transmission of diagnostic and therapeutic data of diabetic patients such as insulin doses, blood sugar levels, and carbohydrates.
Company Headquarters: California, US Founded: 2013 Workforce: ~51-200 Company Working: Companion Medical is a leader in the development of innovative solutions & advanced technology for the management of diabetes. It is the first company to received US Food and Drug Administration (FDA) approval for InPen, a smart insulin pen used to improve diabetes care. The InPen system is consists of a Bluetooth-enabled pen that is connected to an app that offers dose reminders for patients. The company offers its products in the treatment of Type 1 and Type 2 diabetes. The firm has a strong presence in North America and Europe.
Coty is a fragrance-led global beauty company and, by its own description, one of the world's largest beauty groups, with FY2026 net revenues of USD 5.81bn split roughly two-thirds Prestige (licensed and owned luxury fragrance, prestige cosmetics and skincare — Burberry, Hugo Boss, Calvin Klein, Chloé, Marc Jacobs, Davidoff, Kylie Cosmetics, Gucci until mid-2027) and one-third Consumer Beauty (mass color cosmetics such as CoverGirl, Rimmel, Max Factor and Sally Hansen; mass fragrance; and Brazilian body care). Its core competitive asset is an end-to-end fragrance platform — licensing, innovation, ~81% in-house manufacturing and global prestige distribution — that has produced blockbuster franchises such as Burberry Goddess. After five years of deleveraging under Sue Nabi, Coty entered 2026 in a reset: revenue and margins are declining, the Gucci licence exits a year early, mass color and Brazil are under strategic review, and new interim leadership is executing a "Coty.Curated" focus-and-simplify framework with leverage of 3.4x. --- **Company's own description (paraphrased from FY2026 10-K, Item 1).** Coty describes itself as one of the world's largest beauty companies with an iconic brand portfolio across fragrance, color cosmetics, and skin and body care. It states that it is focused on leveraging its leadership position and capabilities in global fragrances to fuel expansion, strengthening its presence in a limited number of structurally profitable and growing categories, and prioritising growth channels such as e-commerce and Travel Retail. Under the Coty.Curated framework it emphasises fewer, bigger initiatives, marketing sufficiency, supply reliability, consumer advocacy, more productive innovation and portfolio choices, a return to market-share growth, and AI-powered, data-driven operations. It is also evaluating its central organisation, manufacturing and asset base to resize after the Gucci exit. **What the company does.** Coty designs, manufactures (≈81% in-house, ≈19% via third-party manufacturers in FY2026), markets and distributes beauty products. The essential oils in its fragrances are generally sourced from specialist fragrance houses; Coty owns the brand development, juice selection/briefing, bottle and packaging design, filling and assembly, marketing and commercial execution. Principal raw materials are essential oils, alcohols and specialty chemicals (10-K FY2026). **Business model and revenue model.** **Value-chain position.** Coty sits between ingredient suppliers (fragrance houses, alcohol and packaging suppliers) and retailers. Its economic moat lies in (i) licence portfolio scale in prestige fragrance, (ii) innovation and launch capability (brief-to-shelf), and (iii) owned manufacturing in the U.S., Europe and Brazil. It is structurally exposed to licensors (who own the trademarks) and to concentrated retailers (Sephora, Ulta, Douglas, Walmart, drug chains, travel-retail operators). **End markets.** Prestige fragrance (core), prestige cosmetics (Kylie Cosmetics, Marc Jacobs Beauty, Gucci Beauty until FY2027), prestige skincare (Lancaster, philosophy), mass color cosmetics, mass fragrance and mists, mass skin & body care (concentrated in Brazil). **Independent characterisation.** Coty is effectively two businesses with very different economics: a high-quality, licence-dependent prestige fragrance franchise generating ~20% adjusted EBITDA margins (Prestige FY2026 adjusted EBITDA margin 20.5% per Q4 FY2026 call), and a structurally challenged mass color cosmetics/Brazil business whose segment adjusted EBITDA margin collapsed to the low single digits in FY2026 (derived). The 2025–2026 strategic actions (Wella exit, Gucci monetisation, Consumer Beauty review) are converting Coty into a narrower fragrance pure-play with lower leverage but higher licence concentration.
Codexis is a Redwood City-based enzyme engineering company in the middle of a deliberate transition. It is moving from a diversified "protein engineering" platform company, whose revenue was historically dominated by custom biocatalysts for small-molecule drug manufacturing, toward a focused provider of enzymatic manufacturing solutions for oligonucleotide therapeutics, chiefly siRNA/RNAi. Its proprietary CodeEvolver® directed-evolution platform underpins two businesses. The first is a cash-generating but lumpy pharma biocatalysis franchise, anchored by long-standing relationships with Merck & Co. and other large pharmaceutical companies, which supports about 14 commercial products. The second is the pre-commercial ECO Synthesis® Manufacturing Platform, which aims to replace solid-phase phosphoramidite chemistry with enzymatic routes, together with a commercially launched dsRNA ligase. The company is a sub-$200 million market capitalization micro-cap and remains loss-making. It has about $80 million of pro forma liquidity, a $40 million term loan, and guidance for FY2026 revenue of $72–76 million. --- ### Company's own description (FY2025 10-K / standard press-release boilerplate, paraphrased) Codexis describes itself as a leading provider of enzymatic solutions for efficient, scalable therapeutics manufacturing. It discovers, develops and improves high-performance enzymes using its proprietary CodeEvolver® technology. According to the company, its enzymes address real-world problems in small-molecule pharmaceutical manufacturing and nucleic acid synthesis. Codexis is developing the ECO Synthesis® Manufacturing Platform to enable scaled manufacture of RNAi therapeutics through an enzymatic route. It says its enzymes can raise yields, cut energy use and waste, improve manufacturing efficiency, and increase sensitivity in genomic and diagnostic applications (Codexis Q4 FY2025 and Q2 FY2026 press releases). The FY2025 10-K states that headquarters is both the administrative centre and the centre of research, development and business operations, with limited internal manufacturing capacity. In-house manufacturing produces Codex® biocatalyst panels and kits, plus enzymes for customers' pilot-scale and clinical production. The ECO Synthesis Innovation Lab sits inside headquarters and is designed to supply non-GMP material in quantities that support customers' preclinical development. The company expects to partner with CDMOs for bulk GMP-grade siRNA production for clinical supply and beyond. ### Independent characterization Codexis is best understood as a technology-licensing and specialty-enzyme supplier whose economics depend on a small number of very large pharmaceutical relationships. In FY2025 a single customer accounted for about 51% of total revenue (FY2025 10-K, "Customers"). Given the $37.8 million Merck agreement recognised mainly in Q4 FY2025, that customer is almost certainly Merck. The business model has three monetization layers. The first layer is product revenue: sales of engineered enzymes (biocatalysts), pharmaceutical intermediates, Codex® biocatalyst screening panels and kits, and, increasingly, ligase and ECO enzyme supply. Product revenue is driven by customers' commercial manufacturing schedules and is therefore volatile quarter to quarter. Product gross margin has improved structurally, from 56% in FY2024 to 64% in FY2025 and 71–73% in Q1–Q2 FY2026. Management attributes this to a shift toward higher-margin products and the run-off of lower-margin legacy products. The second layer is research and development revenue: CodeEvolver platform licence fees, technology-transfer payments, milestone payments, feasibility and evaluation fees, and ECO Synthesis manufacturing services (for example, the low-seven-figure contract to supply 50 g of siRNA). In FY2025 R&D revenue exceeded product revenue for the first time in the period analysed ($44.4 million vs. $26.0 million). The main reason was the Merck technology transfer. The third layer is royalty and contingent consideration from out-licensed or divested assets. These include the Nestlé Health Science CDX-7108 sale (up to $45 million in milestones plus a single-digit royalty), the Aldevron HiCap RNA polymerase licence (milestones and royalties), and the Roche dsDNA ligase licence (upfront and technical milestones). These are largely back-ended and uncertain. **Value-chain position.** Codexis sits upstream of drug-substance manufacturing. It supplies process technology (enzymes and the know-how to use them) to innovator pharma companies, generic manufacturers and CDMOs, which then run the commercial processes. In the oligonucleotide chain it is trying to move one step downstream. Its planned ECO GMP Manufacturing Center would make siRNA material for preclinical and Phase 1 supply. This hybrid "tool supplier plus early-phase manufacturer" model is a new risk profile for the company. **Customer types:** large innovator pharma (Merck, plus historically Pfizer, GSK and Novartis); high-growth RNAi biotech innovators (unnamed counterparties in 2025–2026 agreements); CDMOs (Bachem, Nitto Denko Avecia, Axolabs); and life-science tools companies (Roche, Aldevron, seqWell). **End-markets served:** small-molecule API manufacturing (biocatalysis); oligonucleotide/RNAi therapeutic manufacturing; and, as a residual licensing stream, life-science tools and genomics reagents. ### Revenue model mix (FY2021–FY2025) *Sources: Q4 FY2022 press release (FY2021–FY2022 PAXLOVID figures); FY2023 10-K (product revenue); Q4 FY2023 press release (ex-PAXLOVID revenue of $62.0 million implies about $8.1 million PAXLOVID-related revenue in FY2023, largely the release of deferred Pfizer fees); Q4 FY2025 8-K Exhibit 99.1 (FY2024–FY2025). Shares are computed.*
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Historical performance and future projections (2020–2030, USD Billion)
