Portland, OR, Oct. 07, 2020 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global Smart Insulin or Glucose Responsive Insulin Market accounted for $2.77 billion in 2019, and is projected to reach $6.17 billion by 2027, growing at a CAGR of 10.5% from 2020 to 2027.
Surge in healthcare expenditure, rise in incidence and prevalence of diabetes, and increase in adoption of technologically advanced products have boosted the growth of the global smart insulin or glucose responsive insulin market. However, adverse effects along with safety issues with the devices hamper the market. On the contrary, increase in awareness toward smart insulin devices and untapped potential & undiagnosed population in developing countries would open new opportunities for market players in the coming years.
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Covid-19 scenario:
- The lockdown across various countries has resulted in disruption in supply chains and restrictions on international trade of advanced medical products.
- However, several governments have announced a relaxation on the current regulations, which would help the market regain its position.
The smart insulin or glucose responsive insulin market is segmented on the basis of delivery, disease, type, and region. Based on delivery device, the smart insulin pen segment is expected to manifest the highest CAGR of 12.2% during the forecast period. However, the smart insulin pump segment held the lion’s share in 2019, accounting for more than 90% of the total revenue.
On the basis of disease, the type 2 diabetes segment is projected to manifest the highest CAGR of 11.1% during the forecast period. However, the type 1 diabetes segment held the largest share in 2019, contributing to more than three-fifths of the market.
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The global smart insulin or glucose responsive insulin market is analyzed across the various regions such as North America, Europe, LAMEA, and Asia-Pacific. The market across Asia-Pacific is expected to register the highest CAGR of 13.0% during the forecast period. However, the market across North America dominated the market in 2019, contributing to nearly two-fifths of the market.
The global smart insulin or glucose responsive insulin market report includes an in-depth analysis of key market players such as Diamesco Co, Zealand Pharma, Novo Nordisk A/S, Insulet Corporation, CeQur, Eli lily and Company, F. Hoffmann-La Roche AG, Medtronic Plc, and Sanofi.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.