The insulin management system market is expected to thrive at a strong CAGR of 19% during the forecast period. The market holds a revenue of US$ 21.11 billion in 2022 while it is expected to cross a value of US$ 120 billion by 2032.
| Attributes | Details |
|---|---|
| Insulin Management System Market Size (2022E) | US$ 21.11 billion |
| Insulin Management System Market Size (2032F) | US$ 120 billion |
| Value CAGR (2022 to 2032) | 19.0% |
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Changing lifestyles of people with desk work and less physical activities have led to uncontrolled insulin release along with the proliferating cases of diabetes among young people. This further fueled the demand for diabetes equipment such as medicine, testing kits, and insulin management systems.
Rising diabetes also leads to cases of heart attack, stroke, kidney failure etc. Thus, people with diabetes have become more aware of the implications and the easy treatment of it through insulin management systems.
Research done by diabetes.org explains that about 283,000 Americans under the age of 20 have been diagnosed with diabetes, that is nearly 0.35% of that population. The prevalence of type 1 diabetes among these youngsters fuels the adoption of advanced diabetes treatment technology such as insulin management systems that help the end user in controlling the glucose levels in blood.
The rising cases of type 1 and type 2 diabetes along with the advanced CSII technology delivering the expected amount of insulin to the patients are transforming the insulin management system market. Insulin management is nothing but the management of the right amount of insulin that enters the body to maintain the glucose level in the blood.
Insulin management system works exactly like the body’s insulin system. It releases insulin with a steady flow and according to the need. Though it comes with a pump that is attached to the body using an infusion set. The system works as shirt-acting and rapid-acting insulin to keep the blood sugar levels even.
From improving the A1c levels to managing the early morning high sugar levels called “the dawn phenomenon”, advanced insulin management becomes a boon for a diabetic patient in managing its sugar levels. Though the complex installation and usage of these systems are restricting the growth of insulin management systems.
People with type 2 diabetes or gestational diabetes require insulin therapy that helps in keeping the blood sugar within the target range. Furthermore, the penetration of type –2 diabetes is pushing governments to launch awareness programs regarding the application of insulin management systems.
The advanced design tracks the glucose levels along with providing the right amount of insulin with and without the tube. Dexcom and Omnipod are some examples of these insulin management systems.
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.
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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.
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.
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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.
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.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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:
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:
Based on end user, the global insulin management system market is segmented into the following:
The market is likely to register a CAGR of 20% through 2032.
The market is currently valued at US$ 1.3 Bn in 2022.
The market is likely to grow to a valuation of US$ 8 Bn by 2032.
North America is likely to be a leading market during the forecast period.
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Insulin Management System Market
