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Insulin Management System Market Poised for Steady Growth in the Future

08-29-2017 04:29 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Future Market Insights

Insulin Management System Market Poised for Steady Growth in

Frederick B and John M in 1923 were Nobel Prize awardee in Physiology or Medicine for discovery of Insulin. This serves a milestone in history of diabetes management as the death rate due to diabetes significantly reduced after its discovery. Insulin is a natural and most essential preprohormone produced by INS gene by islets of langerhans in pancreas by allowing body to take up glucose as energy source. Insulin prevents hyperglycemia and maintain blood sugar levels in co-ordination with glucagon. Diabetes is a most common health problem causing high blood sugar level resulting into excessive thirst and large amount of urine production. It causes secondary health associated problems such as diabetic ketoacidosis, hyperosmolar hyperglycemic states, and other serious complications (heart attack, stroke, kidney failure, leg amputation) leading to premature death. Diabetes is divided into 3 types i.e Type I diabetes, Type II diabetes and gestational diabetes. According to NCD CCS, insulin treatment is essential treatment for diabetes. FDA approved genetically engineered recombinant human Insulin and Insulin analogues are used in insulin management system.

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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Market: Segmentation

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.
Implantable pumps.
Insulin patches.
Islet cell transplantation.
Insulin inhalers.

Based on disease indication, the global insulin management system market is segmented into the following:

Diabetes I.
Diabetes II.
Gestational Diabetes.

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.
Pre-mixed 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.

ABOUT US:
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.

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Website: www.futuremarketinsights.com

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