Diabetic Pen Cap Market Growing with Healthy CAGR by 2022

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Sarasota, FL — (SBWIRE) — 11/07/2017 — Diabetic Pen Cap Market: Overview

People suffering from diabetes have to maintain a carefully tracked and frequent regimen of insulin injections in order to regulate their sugar levels in the body. Forgetting a dose may prove hazardous for the patient’s health. Diabetic pen caps are useful for reminding the patients about the insulin shots on a regular basis. Using diabetic pen caps is very easy and does not require any technical expertise. A diabetic pen cap has a built-in timer on an LCD display. This built-in timer resets the time when the diabetic pen cap is removed and when the cap is attached, the time gets saved.

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Diabetic Pen Cap Market: Facts

Common Sensing, an organization that has spun out from the MIT wanted efficiency in managing diabetes thus they developed their smart insulin pen cap which was named as Gocap. Gocap is a data-driven smart cap which can fit over the injection needle of a normal insulin pen.

Diabetic Pen Cap Market: Regional Analysis

Diabetic pen cap was initially introduced in the European countries. The highly positive response garnered from the European consumers and the huge revenues that were collected from the European countries such as the U.K., Germany, Italy, and France propelled the growth of the market. The product was later launched in the North American markets. Large-scale demand for the diabetic pen caps has been observed in the North American region especially in the countries of the U.S. and Canada. Diabetic pen caps have now penetrated into the Asia Pacific, Latin America, and the Middle East and African markets and a steady growth will be observed in these regions in the coming periods.

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Diabetic Pen Cap Market: Segmentation

The global diabetic pen cap market is fragmented into its end-user industry and geography. Based on the end-user industry, the market is divided into online pharmacies, clinics, retail pharmacies, and hospitals. The regional diversification of the diabetic pen cap market includes North America, Western Europe, Asia Pacific, the Middle East and Africa, Eastern Europe, and Latin America.

Diabetic Pen Cap Market: Growth Factors

There has been a general increase in the occurrence of diabetes in the recent years. This will be a driving factor for the diabetic pen caps market. Also, other factors such as the increasing awareness among the people, increased disposable income, better standards of living, and rising expenditures over convenient healthcare products have been influencing the market growth. Growth is further escalated through the advertisements and internet connectivity. Since the product is still new in the market, the scope of the market growth opportunities for the existing players has significantly increased. However, the short lifespan of the product and the strict regulatory policies from various government regulatory authorities may cause a hindrance to the growth of the market.

Diabetic Pen Cap Market: Competitive Players

Some of the major players in the global diabetic pen cap market include The bee, Novopen Echo, Timesulin, and Common Sensing.

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Diabetic Pen Cap Market: Regional Segment Analysis

North America
Asia Pacific
Latin America
Middle East and Africa

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About the Author: Karen Green

Karen grew up in a small town in northern Quebec. She studied chemistry in college, graduated, and married her husband one month later. They were then blessed with two baby boys within the first four years of marriage. Having babies gave their family a desire to return to the old paths – to nourish their family with traditional, homegrown foods; rid their home of toxic chemicals and petroleum products; and give their boys a chance to know a simple, sustainable way of life. They are currently building a homestead from scratch on two little acres in central Texas. There’s a lot to be done to become somewhat self-sufficient, but they are debt-free and get to spend their days living this simple, good life together with their five young children. Karen writes articles covering Quebec