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.
New York, NY -- (SBWIRE) -- 04/30/2021 -- 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.
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Leading Players Profiled in the Report Include:
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.
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.
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. Furthemore, government bodies are engaged in promotion of technologies that provides efficient patient care at home settings, that includes Automated Insulin Delivery Systems. Furthermore, globally increased engagements in tele-consultancy for follow up and routine check-ups during the pandemic are likely to enhance market growth for point of care technologies such as Automated Insulin Delivery Systems.
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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
Emerging technologies in medical device sector has been playing great role in rising the growth of AID. For instance, in March 2019, Abbott Laboratoriesand Novo Nordisk entered into non-exclusive partnership that will incorporate insulin dose data from Novo Nordisk pre-filled and durable connected pens directly into the digital health tools compatible with the FreeStyle Libre system
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.
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
Regional Outlook (Revenue in Million USD; 2017–2027)
North America
U.S
Canada
Europe
Germany
France
U.K
Spain
Italy
Rest of the Europe
Asia Pacific
China
India
Japan
Rest of Asia-Pacific
Middle East & Africa
Latin America
Brazil
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Table of contents
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, 2017 – 2027
Chapter 3. Indicative Metrics
Chapter 4. COVID 19 impact assessment
4.1. Global automated insulin delivery system industry outlook
4.1.1.1. Q1 2020
4.1.1.2. Q2 2020
4.1.1.3. Q3 2020
4.1.1.4. Q4 2020
4.2. Supply chain stabilization
4.2.1.1. Supply scenario
4.2.1.2. Demand scenario
4.3. Upcoming strategies required to combat the current situation
Chapter 5. Global Automated insulin delivery system Segmentation & Impact Analysis
5.1. Global Automated insulin delivery system Segmentation Analysis
5.2. Industrial Outlook
5.3. Market Indicators Analysis
5.3.1. Market Drivers Analysis
5.3.1.1. Rise in the Prevalence of Diabetes Globally
5.3.1.2. Favorable Reimbursement Policies
5.3.1.3. Increasing Adoption of Technological Advances
5.3.1.4. Growing Investment and Awareness Program
5.3.2. Market Restraints Analysis
5.3.2.1. Stringent Regulatory Policies
5.4. Regulatory Framework
5.4.1. North America
5.4.2. Europe
5.4.3. Asia Pacific
5.4.4. Rest of the World
5.5. Porter\'s Five Forces Analysis
5.6. PESTLE analysis
Continued……….
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