This report provides an extensive analysis of the current and emerging market trends and dynamics in the global smart insulin market.
Portland, OR -- (SBWIRE) -- 08/05/2017 -- The development of smart insulin is accelerating the growth of healthcare and digital science leading to cures and treatments of patients with Type 1 and Type 2 diabetes by promoting upcoming approaches. Smart insulin works accordingly in response to blood glucose concentration; the higher the blood glucose more concentration of insulin is released and less insulin is released in response to lower blood glucose. The emergence of these healthcare-cum-technology have addressed the soaring need for better diagnostics as compared to current insulin supply since it reduces the diabetes related stress, decreases the need of regular blood tests, no other insulin supplement is required, prevents carb counting and smart insulin injection can be applied only once a day. Minimal weight gain and reduced risk of hypoglycemia are recent success that has opened new avenues for smart insulin usage.
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The global smart insulin market is expected to register substantial growth in the near future, attributed to rising prevalence of diabetic patients, advancements in technological delivery devices, high demand for better efficacy products and replacement of painful injections with technology advancements. In addition, favorable government policies and increased collaborations among companies and research institutions are driving factors of market. However, high investment cost, more manufacturing complexities and stringent regulatory requirements for product approval are factors that can hinder the market growth. Growing personalized awareness and spreading of technology in emerging economies leads to prospering of this market.
Healthcare giants such as Juvenile Diabetes Research Foundation and SmartCells are collaborated in a partnership where SmartCells received $1 million fund for safety and efficacy studies for preclinical testing of smart insulin on animals. Furthermore, Juvenile Diabetes Research Foundation has introduced Glucose Responsive Insulin Grand Challenge Prize which draws the group of scientists to this innovative field.
Comprehensive competitive analysis and profiles of major market players such as Juvenile Diabetes Research Foundation Ltd, Novo Nordisk A/S, Sanofi, Eli Lilly and Company, Merck & Co., Inc., and MannKind Corporation are provided in this report. Other companies undergoing the clinical trials are ADOCIA, Biodel Inc., Biocon and Halozyme, Inc. is also provided in this report.
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SMART INSULIN OR GLUCOSE RESPONSIVE INSULIN MARKET KEY SEGMENTS:
Market by Types
Market by Diseases
Type 1 Diabetes
Type 2 Diabetes
Market by Delivery Devices
Smart Insulin Pen
Smart Insulin Patch or Microneedle Array Patch
Smart Insulin Pump