Smart Insulin or Glucose Responsive Insulin Market Overview:
The global smart insulin or glucose responsive insulin market size was valued at $2,773.73 million in 2019, and is expected to reach $6,174.30 million by 2027, registering a CAGR of 10.5% from 2020 to 2027. Smart insulin or glucose-responsive insulin is the next generation insulin that automatically responds to changing blood glucose levels. These products help in management of blood glucose level of diabetic patients in minimally invasive manner. Smart insulin works accordingly in response to blood glucose concentration i.e. higher the blood glucose higher is the concentration of insulin released and lower the blood glucose lower is the concentration of insulin released. It is a painless mode of introducing insulin compared to injectable insulin, reducing the risk of skin irritation caused due to needles.In addition, the dose volume is easily calculated in oral & inhalable insulin and helps to maintain the dosage time. The development of smart insulin is accelerating the growth of healthcare and digital science leading to cures and treatments of patients with Type 1 and Type 2 diabetes by advance upcoming approaches.
The market is expected to witness an exponential growth during the forecast period, owing to the benefits of using these advanced devices over conventional products and rise in healthcare expenditure. As per data published by the NCBI (National Center for Biotechnology Information) in 2016, six million people with diabetes used insulin either alone or in combination with an oral medication. Moreover, increase in disposable income among t diabetic patients and technological advancements of smart insulin products are anticipated to fuel the market growth.However, lack of awareness, cost restrains in developing regions, and less variability in products are expected to hinder the market growth. Development of affordable products with fewer side effects and presence of undiagnosed diabetic patients globally are expected to provide opportunities for the smart insulin or glucose responsive insulin market growth.
Global Smart Insulin Or Glucose Responsive Insulin Market Segmentation
The smart insulin or glucose responsive insulin market is segmented on the basis of type, disease, delivery devices, and region. By type, it is divided into rapid-acting, intermediate-acting, long-acting, short-acting and pre-mixed type. On the basis of disease, the market is bifurcated into Type 1 and Type 2 diabetes. On the basis of delivery devices, the smart insulin or glucose responsive insulin market is classified into smart insulin pen and smart insulin pump. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By Delivery Device
Smart Insulin Pumps segment is projected as one of the most lucrative segment.
Delivery Device segment review
By delivery devices, the smart insulin pumps segment accounted for 96% of the total market share in 2019, and is expected to exhibit a prominent growth rate in the future, owing to its increased adoption across the globe for diabetes. In addition, smart insulin pumps release small doses of insulin continuously, meanwhile patients can adjust the amount of insulin to be released pre and post mealtime by configuring the pump.
By Disease
Type 1 Diabetes segment holds a dominant position in 2019 and would continue to maintain the lead over the forecast period.
Disease Type Segment Review
By disease type, type 2 diabetes cases are much more than type 1 diabetes. Most of the products used in the market areeither used for both types of diabetes or only for type 2. Type 2 diabetes is the most important contributor toward the market growth. Moreover, as patients suffering from type 2 diabetes are increasing at a higher rate, it is anticipated to be the fastest growing segment during the forecast period.
By Type
Rapid Acting insulin type segment is projected as one of the most lucrative segment.
Type Segment Review
By type, the rapid acting segment is anticipated to grow at a significant rate during the forecast period. Rapid-acting insulin is one of the fastest acting insulins that start working in 15 minutes of its introduction in the body. The activity of this insulin is supposed to last for 5 hours. Some of the rapid-acting insulin available in the market are Humalog, Flaps and Novo Rapid, and Apia. Rapid-acting insulin are usually preferred in pumps that deliver little amounts of insulin into the body every few minutes.
By Region
North America holds a dominant position in 2019 and would continue to maintain the lead over the forecast period.
Region Segment Review
North America accounted for the majority of the smart insulin or glucose responsive insulin market share in 2019, and is anticipated to continue this trend during the forecast period. North America holds a dominant share in the global smart insulin or glucose responsive insulin market, owing to well-developed supply-side infrastructure, rapid acceptance of innovative technologies, and adequate reimbursements (as compared to other regions).
Comprehensive competitive analysis and profiles of major smart insulin or glucose responsive insulin market players such as CeQur, Diamesco Co, Eli lily and Company, Insulet Corporation, Medtronic Plc, Novo Nordisk A/S, F. Hoffmann-La Roche AG, Sanofi and Zealand Pharma are provided in this report.
Key Benefits For Stakeholders
- Thereport entails a detailed quantitative analysis along with the global smart insulin or glucose responsive insulin market trends from 2019 to 2027 to identify the prevailing opportunities along with the strategic assessment.
- The market trends are studied from 2019 to 2027.
- The smart insulin or glucose responsive insulin market size and estimations are based on a comprehensive analysis of key developments in the industry.
- An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
- The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the market.
Key Market Segments
By Delivery Devices
- Smart Insulin Pen
- Smart Insulin Pump
- Tethered Insulin Pumps
- Insulin Patch Pumps
By Disease
- Type 1 Diabetes
- Type 2 Diabetes
By Type
- Rapid Acting
- Intermediate Acting
- Long Acting
- Short Acting
- Premixed Type
By Geography
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Smart Insulin or Glucose Responsive Insulin Market Report Highlights
| Aspects | Details |
 By DELIVERY DEVICES |
|
 By DISEASE |
|
 By TYPE |
|
 By Region |
|
 Key Market Players | NOVO NORDISK A/S, SANOFI, ZEALAND PHARMA A/S, DIAMESCO CO., LTD., F. HOFFMANN-LA ROCHE LTD., TANDEM DIABETES CARE, INC., CEQUR, ELI LILY AND COMPANY, INSULET CORPORATION, MEDTRONIC PLC. |
Analyst Review
The digital diabetes management market is expected to witness a significant growth, owing to growing usage of healthcare applications by the patients and ever-increasing patient pool suffering from diabetes.
The key factor responsible for the growth of the smart insulin or glucose responsive insulin market is advancements in digital applications for monitoring blood glucose level with the help of augmented & virtual reality for diabetes management. These are painless mode of insulin delivery and reduce the risk of skin irritation caused due to needles. They are expected to replace injectable insulin, owing to their ease of using with improved efficiency. Furthermore, these smart insulin help to improve the adherence to medication, thus providing better diabetes management. The advancement in smart insulin or glucose responsive insulin along with improved effectiveness and usability will help to increase the adoption rate of these products, which will largely contribute towards the market growth. In addition, the rise in disposable income, favorable reimbursement policies, and increase in healthcare expenditure, will help to boost the market growth.
The total market value of smart insulin or glucose responsive insulin market is $6,174.3 milion
The forecast period in the report si from 2020 to 2027
The market value of smart insulin or glucose responsive insulin market in 2019 was $2,773.73 million
The base year for the report is 2019
Yes, smart insulin or glucose responsive insulin companies are profiled in the report
The top companies that hold the market share in smart insulin or glucose responsive insulin market are Eli lily and Company, Insulet Corporation, Medtronic, Novo Nordisk A/S, Roche, Sanofi
The top 5 emerging investments markets in the smart insulin or glucose responsive insulin market are Germany, Canada, France, China and UK
The key trends in the smart insulin or glucose responsive insulin market are surge in incidences of diabetes, rise in healthcare expenditure, and increased adoption of technologically advanced products
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