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%.
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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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.
Further key findings from the report suggest
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- 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.
The ongoing pandemic is significantly changing the dynamics of the pharma and healthcare sector. Various countries are facing challenges such as shortage of medicines, vaccines, healthcare devices in hospitals. This is expected to open lucrative growth opportunities for market players in the coming years.
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Competitive Landscape:
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, merger and acquisitions, collaborations, and joint ventures to gain robust footing in the market.
Top Companies Profiled in the Report:
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
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Automated Insulin Delivery Systems Market Segmentation:
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
- Pens
- 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:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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