New Study Offers Detailed Insights on Diabetic Pen Cap Market

Diabetic Pen Cap Market
Augest 2017
Report Id : REP-GB-3483
Status : Ongoing
Category : Healthcare, Pharmaceuticals &
Medical Devices
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Diabetic Pen Cap Market
Diabetic pen cap is a digital device that helps patients remember the last
time when they had their insulin injection. For a diabetic patient forgetting
even a single dose of insulin can be very dangerous and can cause
various severe effects. Diabetic pen cap is a device which is very easy to
use and no technical expertise is required to operate it. In a diabetic pen
cap there is a built-in timer on an LCD display. This built in timer of
diabetic pen cap automatically saves the time when the cap is attached
on to the diabetic pen and resets the time as soon as the diabetic pen cap
is removed. In this way a diabetic patient is saved from the anxiety of not
knowing for sure whether s/he has taken the last shot or not.
According to the data of a recent market research conducted by Novo
Nordisk at least one out of three people skip their insulin doses or do not
follow the dosage as prescribed by the doctor at least three times a
month. This data indicates the potential for the market of diabetic pen
cap to grow.
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Diabetic Pen Cap Market
Diabetic Pen Cap Market: Drivers and Restraints
The market for the diabetic pen cap is expected to be driven by the increase in
the number of diabetic patient. The market can also grow owing to the increasing
awareness of people regarding diabetic pens and diabetic pen caps. The increase
in the disposable income of people can lead to increased expenditures in
convenient healthcare methods like diabetic pen caps. Diabetic pen caps market
can be driven swiftly due to the advertisements and internet connectivity which
is increasing around the globe. As the product is new so there are not much
manufacturers in the market and this can lead to increased profit for the
established players
The major challenges that this market can face is the strict regulatory policies
from various government regulatory authorities like FDA. Also the short life span
of the product can work as a limiting factor for the growth of diabetic pen caps
market.
Diabetic Pen Cap Market: Segmentation
The market for diabetic pen caps can be segmented on the basis of end user and
regions
On the basis of end user
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Diabetic Pen Cap Market
Hospitals, Retail pharmacies, Clinics, Online pharmacies;
On the basis of region
North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan
Middle East and Africa;
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Diabetic Pen Cap Market: Overview
The market for diabetic pen caps is expected to grow in the forecast period as new
technologies are coming that can attract more number of customers. Positive
feedback from consumers can also be a factor for the growth of this market. The
ultra simplicity of a diabetic pen cap can also become the reason behind its
success. The device starts counting the time once the diabetic pen cap is placed
over the diabetic pen. The timer of the diabetic pen cap can count the time upto
100 minutes. Diabetic pen caps can be used for almost a year and this is one
factor that can also challenge the growth of this market. The battery of the
diabetic pen cap is neither required to be changed nor required to be changed till
12 months.
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Diabetic Pen Cap Market
Diabetic Pen Cap Market: Region-wise Outlook
The diabetic pen cap sell was initially started in the European countries
and the response of the people was observed. After the success of the
diabetic pen caps in the European market and the collection of revenue
from the European market the product was launched in the North
American market. Now the diabetic pen caps are also available in the
Asia Pacific and Middle Eastern market.
Diabetic Pen Cap Market: Key Market Participants
The major players involved in the manufacturing of diabetic pen caps
include Timesulin, Novopen Echo, The bee and Gocap.
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