A recent report published by Infinium Global Research on automated insulin delivery system market provides in-depth analysis of segments and sub-segments in the global as well as regional automated insulin delivery system market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional automated insulin delivery system market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global automated insulin delivery system market. According to the report, the global automated insulin delivery system market is projected to grow at a CAGR of 8.0% over the forecast period of 2019-2025.
Automated insulin delivery is also known as a hybrid closed loop, artificial pancreas, bionic pancreas, and predictive low glucose suspend. The objective of an automated insulin delivery system is using continuous glucose monitors (CGMs) and smart algorithms that automatically decide and adjust insulin delivery via a pump. The aim of this product is to reduce/eradicate hypoglycemia, remove user input from insulin dosing, improve time-in-range, and reduce hyperglycemia. Insulin is the hormone that notifies the cells to take sugar from the blood and utilize it as an energy source. In type 1 diabetes, the immune system destroys beta cells in the pancreas, which makes insulin. In the absence of insulin, there is an escalation in blood sugar levels, resulting in a diabetic coma, and the body burns fat stores and muscle for energy. Thus, in order to maintain blood sugar levels in people with type 1 diabetes, it is necessary to monitor their blood sugar throughout the day continuously. The automated insulin delivery system relies on a transmitter which is attached to a tiny needle inserted into the skin that continuously tracks glucose levels, a pump that delivers accurate doses of insulin as they are required via a separate catheter inserted into the skin, and a computer chip that uses data from both to upgrade the delivery of insulin. The automated insulin delivery system allows people with type 1 diabetes significant freedom to live their lives without having to manually and constantly monitor baseline glucose levels and deliver insulin.
The rising prevalence of diabetes worldwide is the major growth factor for the automated insulin delivery system market. According to WHO reports the number of a diabetic patient has increased from 108 million in 1980 to 422 million in 2014, these rising numbers are augmenting the demand for advanced insulin delivery systems for the hassle-free insulin uptake. Moreover increasing research and development activities for the production of innovative insulin delivery systems and increasing awareness campaigns by various companies are further boosting the growth of the market. However, technology snags may limit the adoption of an automated insulin delivery system. Difficulties with the calibration of a glucose sensor, sensor durability, skin related issues can restrict the use of an automated insulin delivery system. On the other hand, lenient regulatory approval and technical clarity for the use of devices among people can provide a better opportunity for the growth of the market.
Region wise automated insulin delivery system market segmented into North America, Europe, Asia Pacific and Rest of the World. Currently, North America holds the top position in the automated insulin delivery system market. The presence of top manufacturers and large investment in R&D for upgradation of existing insulin pumps and new product development are contributing to the growth of this region. European market expected to grow with a steady rate in the forecast year. In the near future developing countries in Asia-Pacific like India, China and Japan expected to grow with a high CAGR. Large diabetic patient pool and heavy investment in the healthcare sector are fuelling the growth of the market.
The report on global automated insulin delivery system market covers segments such as disease type, and end user. On the basis of disease type, the sub-markets include type I diabetes, and type II diabetes. On the basis of end user, the sub-markets include hospital pharmacies, retail pharmacies, and diabetes clinics.
The report provides profiles of the companies in the market such as Medtronic plc, Eli Lilly and Company, Tandem Diabetes Care, Inc., Insulet Corporation, Bigfoot Biomedical, Inc., and Other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of automated insulin delivery system market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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