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.