Insulin Management System Market Poised for Steady Growth in the Future
Insulin Management System Market: Drivers and Restraints
It is being estimated by World Diabetes Foundation that there will be 438 million people with diabetes by year 2030 which interprets demand for insulin management system market or solutions to accompany escalating diabetes population. Insulin management system shows a promising market growth due high global prevalence and incidence, extensive research and advancement in technology for effective insulin delivery systems and support from government and health care centers in making insulin management systems available throughout globe. According to WHO since 1980, the global prevalence of diabetes in adult population has risen from 4.7% to 8.5%. While in past decade the prevalence of Diabetes in low and middle income countries is higher than in higher income countries. Also, according to research carried out in University of Florida the reason for the mortality of children with type I diabetes is lack of access to Insulin management systems due to its high price. Hence unavailability of cheaper or affordable insulin management system thus hinder its market growth while its availability would increase market size and demand in low and middle income countries.
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The market for global Insulin management system is classified on the basis of disease indication, product type, mode of action, route of administration, end user and geography.
Based on product type, the market for global insulin management system is segmented into the following:
Needle and syringe.
Insulin Pen Injectors.
Insulin jet injectors.
External Insulin pumps.
Islet cell transplantation.
Based on disease indication, the global insulin management system market is segmented into the following:
Based on product mode of action, the global insulin management system market is segmented into the following:
Rapid acting insulin.
Short acting insulin.
Intermidiate acting insulin.
Based on product route of administration, the global insulin management system market is segmented into the following:
Based on end user, the global insulin management system market is segmented into the following:
Speciality diabetic clinics.
Home care setting.
Non- Diabetic Clinics.
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Insulin Management System Market: Overview
Insulin treatment for Type II diabetes holds largest share due to its high prevalence and also availability of variety and advances in insulin management systems available to treat type II diabetes. Also in comparison to recombinant human Insulin there is greater share for insulin analogues due to its higher efficacy with fast and long lasting effects. Moreover in comparison to painful traditional methods of insulin administration by injections, use of inhaled insulins are expected to have larger share in insulin management system market. Inhaled insulins are easy to administer, fast acting and is eliminated from body in less time. Thus, Insulin that is affordable, easy to administer, readily available, fast acting with long lasting effect and quick elimination from body is expected to hold strong position in insulin management system market.
Insulin Management System Market: Regional Overview
Region wise, the global regions in Insulin Management System market is classified into, North America, Latin America, Western and Eastern Europe, Asia-Pacific (excluding Japan) and MEA (Brazil, Argentina, Nigeria, Saudi Arabia & Egypt). America dominates the global insulin management system market due to higher prevalence of diabetes, high income population and also due to significant patent protection for brands of biosimilar insulin. Europe holds second largest insulin management system market due to better disrtribution of network for key players in insulin management system market. While Asia Pacific and MEA is fastest growing due to adoption of various advancement in insulin management system. Initiatives taken by government in developing countries to provide better healthcare facilities and easy utilization of insulin management system plays a larger role in increasing market for insulin management systems.
Insulin Management System Market: Key Players
Eli Lilly and Company, GlaxoSmithKline, Biocon, Sanofi Aventis, Julphar, Novo Nordisk, SemBioSys, and WOCKHARDT, Abbott India Ltd., USV Limited, Torrent Pharmaceuticals Ltd and Piramal Enterprises Limited are key players.
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