Automated Insulin Delivery Systems Market Size Worth $ 7.81 Billion By 2027 at CAGR of 6.0% | Top Players- Novo Nordisk A/S, Sanofi, Biocon, etc.

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Automated Insulin Delivery Systems Market Size Worth $ 7.81 Billion By 2027 at CAGR of 6.0% | Top Players- Novo Nordisk A/S, Sanofi, Biocon, etc.

March 08
13:27 2021
Automated Insulin Delivery Systems Market Size Worth $ 7.81 Billion By 2027 at CAGR of 6.0% | Top Players- Novo Nordisk A/S, Sanofi, Biocon, etc.
Market Size – USD 4.91 Billion in 2019, Market Growth – CAGR of 6.0%, Market Trends– Technological advancements and rising demand for user friendly point of care insulin delivery system

Rise in the global burden of diabetes, increasing geriatric population, growing rate of obesity, favorable reimbursement policies, increasing strategic initiatives such as product launches or collaborations, and favorable investment scenarios are among the key factors contributing to a high CAGR of the Automated Insulin Delivery Systems market during the forecast period.

Market Size – USD 4.91 Billion in 2019, Market Growth – CAGR of 6.0%, Market Trends– Technological advancements and rising demand for user friendly point of care insulin delivery system

According to the current analysis of Reports and Data, the global Automated Insulin Delivery Systems Market was valued at USD 4.91 billion in 2019 and is expected to reach USD 7.81 billion by the year 2027 at a CAGR of 6.0%. The Automated Insulin Delivery Systems (AID) market is majorly driven due to the increasing prevalence of diabetes across the globe. Diabetes is a chronic metabolic disease characterized by increased blood glucose levels or blood sugar, which is likely to lead to heart disorders, damage to blood vessels, eyes, kidneys, and nerves. In 2019, nearly 463 million adults from 20 to 79 years old had diabetes and is estimated to rise to about 700 million by 2045 globally, according to the International Diabetes Federation.

The continuous growth in the target population has promoted a rise in technological advances in the field emerging tremendous future opportunity for Automated Insulin Delivery Systems. For instance, one of the leading players in the industry Bigfoot Biomedical is engaged in developing its advanced AID system Autonomy with the use of a screenless pump, a smartphone app, and the FreeStyle Libre CGM; which is estimated to be launched by 2023. Increasing technological developments, favorable reimbursement policies, and increasing awareness programs are estimated to support the market growth. Furthermore, rising diabetic population worldwide has attracted research investments from private and public organizations, towards diabetes management. For instance, the NIH has invested in collaboration with four institution to support development of closed-loop insulin delivery technology or Automated Insulin Delivery Systems for pregnant women with type 1 diabetes in 2019.

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The COVID-19 impact:

The pandemic outbreak of COVID-19 is estimated to contribute to the market growth of Automated Insulin Delivery Systems. The virus has impacted more than 200 economies and has affected more than 20 million health globally. Individuals with an existing chronic illness like diabetes, heart disorders, and other chronic ailments are highly prone to the infection. Risk of hospital acquired infection, several pandemic control practices like physical distancing and restricted movements has resulted in reduced hospital visits, and consequently increased the demand for point of care diabetes management devices such as Automated Insulin Delivery Systems. However, disturbed logistics and changed equation among international trading has significantly affected the market growth. As many parts of different economies have started to ease the lock down and have started construction of a strong distribution network to regain the loss and avoid discontinuation in business market players, the market demand for Automated Insulin Delivery Systems is expected to surge.

Further key findings from the report suggest

  • To capture significant clientele, companies are engaged in developing advanced automated products with enhanced efficiency and ease of use. For instance, in June 2020, Medtronic received the CE-Mark for its MiniMed 780G. The device automatically adjust basal insulin rates after every five minutes and is suitable for diabetic of 7- 80 year old
  • Expansion of application range of products to address larger set of customers is another strategic initiative to enhance the business target which is likely to promote sales of AID products. For instance, in October 2019, Novo Nordisk received the U.S. Food and Drug Administration (FDA) approval for the expanded application of its Fiasp as insulin infusion pumps in adults with type 1 or type 2 diabetes as an improvement of glycemic control
  • Rising diabetic population globally, many companies are investing to develop advanced technology. For instance, in February 2020, Becton, Dickinson and Company completed a clinical trial of its BD Libertas a wearable injectors
  • North America dominated the Automated Insulin Delivery Systems market with a revenue of USD 2.16 billion in 2019. Due to the higher prevalence of diabetes, and adoption of developed technologies the region is expected to rise during the forecast period
  • Devices type segment held significant market share in 2019. The development of technologically advanced and cost-effective products is major factors driving the market growth
  • Owing it to larger target population type 2 diabetes mellitus application segment accounted for highest market share in 2019; and is estimated to boom in forecast period. The expected surge in diabetic population due to pandemic lockdown restriction in various parts of the world and rising geriatric population are among major factors contributing to the expected market growth of this segment.
  • Novo Nordisk A/S, Sanofi, Eli Lilly and Company, Biocon, Ypsomed, Wockhardt, Digital Medics, Abbott, Companion Medical, F. Hoffmann-La Roche, Ltd., BD, Animas LLC, Medtronic., Tandem Diabetes Care, Inc, Diabetes Care, BIGFOOT BIOMEDICAL, INC, DreaMed Diabetes, Ltd and WTWH Media LLC are the key players of the Automated Insulin Delivery Systems market.

 

Automated Insulin Delivery Systems Market Analysis, By Type, By Applications, By End Use Forecasts To 2027, To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/automated-insulin-delivery-systems-market

For the purpose of this report, Reports and Data has segmented the Automated Insulin Delivery Systems market on the basis of types, end use and region:               

Product Type Outlook (Revenue in Million USD; 2017–2027)

  • Devices
    • Pens
      • Reusable Insulin Pens
      • Disposable Insulin Pens
    • Insulin Pumps
      • External/ Tethered Pumps
      • Patch Pumps
      • Implanted Insulin pump (IIP)
      • Closed loop insulin pump (artificial pancreas)
    • Pen Needles
      • Standard Pen Needles
      • Safety Pen Needles
    • Insulin Syringes
    • CGM
  • Software & Mobile App
  • Others

Applications Outlook (Revenue in Million USD; 2017–2027)                  

  • Type 1 Diabetes Mellitus
  • Type 2 Diabetes Mellitus

End Use outlook (Revenue in Million USD; 2017–2027)              

  • Homecare
  • Hospitals
  • Clinics
  • Others


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Regional Outlook (Revenue in Million USD; 2017–2027)

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Egypt
    • Rest of MEA

Table of Content:

Chapter 1. Market Synopsis
    1.1. Market Definition
    1.2. Research Scope & Premise
    1.3. Methodology
    1.4. Market Estimation Technique
Chapter 2. Executive Summary
     2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Automated Insulin Delivery Systems Market Segmentation & Impact Analysis
    4.1. Automated Insulin Delivery Systems Market Material Segmentation Analysis
    4.2. Industrial Outlook
           4.2.1. Market Indicators Analysis
           4.2.2. Market Drivers Analysis
          4.2.3. Market Restraints Analysis
    4.3. Technological Insights
    4.4. Regulatory Framework
    4.5. ETOP Analysis
    4.6. Porter’s Five Forces Analysis
    4.7. Competitive Metric Space Analysis
    4.8. Price trend Analysis
    4.9. Customer Mapping

Continue…..

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