By Infinium Global Research Aug, 2020
The Global Automated Insulin Delivery System Market is expected to grow at a CAGR of 8.03% between 2019 and 2025 in terms of value. 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 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 up-gradation of existing insulin pumps and new product development are contributing to the growth of this region. European market expected to grow at 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.