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Glucose Responsive Insulin Market Report On The Latest Revenue And Future Scope | CAGR of 10.5%
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Drivers:
Increase in Incidence and Prevalence of Diabetes: The growing prevalence of diabetes worldwide is a major driver for the smart insulin or glucose-responsive insulin market. As diabetes rates rise, there is an increasing need for advanced insulin delivery systems.
Rise in Healthcare Expenditure: The increase in healthcare spending allows for greater investment in advanced medical technologies, including smart insulin devices.
Surge in Adoption of Technologically Advanced Products: Technological advancements in the field of insulin delivery systems have led to a surge in adoption of smart insulin devices, driven by their enhanced efficacy and convenience.
Restraints:
Adverse Effects and Safety Issues: Despite the benefits, smart insulin devices may come with adverse effects and safety concerns, which impede their widespread adoption.
Opportunities:
Rise in Awareness Toward Smart Insulin Devices: Increasing awareness among healthcare professionals and patients about the benefits of smart insulin devices presents significant growth opportunities for the market.
Untapped Opportunities in Developing Regions: There is a considerable untapped market in developing regions, where awareness about diabetes management and access to advanced insulin delivery systems are still limited.
COVID-19 Scenario:
The global smart insulin market experienced slow growth due to disruptions in supply chains and trade restrictions during the COVID-19 pandemic. However, with relaxations on regulations by government bodies, the market is expected to regain momentum.
Market Segmentation:
Smart Insulin Pump Segment Dominance: The smart insulin pump segment is expected to dominate the market by 2027, driven by increased demand for home infusion therapy and advancements in traditional insulin pumps.
Type 1 Diabetes Segment Leading: The type 1 diabetes segment is projected to maintain dominance due to a large patient pool, while the type 2 diabetes segment will witness the fastest growth, fueled by increasing prevalence and product approvals.
Geographical Insights:
North America Leading Market: North America held the largest share in 2019, driven by a high number of patients opting for advanced diabetes treatments.
Asia-Pacific Growth Potential: Asia-Pacific is expected to exhibit the fastest growth rate, attributed to the increasing diabetic population in the region.
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Key Players:
Diamesco Co
Eli Lilly and Company
Zealand Pharma
F. Hoffmann-La Roche AG
Novo Nordisk A/S
Insulet Corporation
Medtronic Plc
CeQur
Sanofi
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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