The global smart insulin or glucose-responsive insulin market size was valued at USD 3849 million in 2022. It is projected to reach USD 9354 million by 2031, growing at a CAGR of 10.37% during the forecast period (2023–2031).
Smart insulin adjusts its insulin release in response to the patient's blood sugar level. The higher the blood sugar, the more insulin is released; the lower the blood sugar, the less insulin is produced. The increasing prevalence of diabetes, the rising cost of healthcare, and the rising demand for cutting-edge medical supplies all contribute to the expansion of the global smart insulin (also known as glucose-responsive insulin) market. Smart insulin pumps and pens are prospective target areas for investment by the major players in the rapidly expanding worldwide market for smart insulin, also known as glucose-responsive insulin.
Technological advancements have greatly aided in treating diabetes, as evidenced by the ever-increasing demand for novel diabetes management products like smart insulin devices. The leading companies invest heavily in R&D to perfect painless, non-invasive insulin delivery methods and continuous glucose monitoring systems. Insulet Corporation, a major player, has introduced a smart insulin pump technology called the OmniPod Insulin Management System, a Pod that is smaller and lighter than previous models and also features an in-built blood glucose meter. Thus, these technological innovations in smart insulin devices boost
Growth in the market is expected to be slowed by the potential risks associated with using smart insulin devices such as pumps and pens. Continuous glucose monitoring (CGM) systems, for instance, irritate the skin at the sensor attachment point. As an added concern, there is the potential for the spread of blood-borne viruses and other infectious pathogens during blood glucose monitoring and insulin delivery using smart insulin pens due to dirty needles and other unsterile equipment.These negative consequences may slow the commercial expansion of glucose-responsive insulin, sometimes known as "smart insulin."
People in North America and Europe tend to be heavier and older, making them more likely to get diabetes. The smart insulin devices industry has excellent room to expand in these regions. Growth prospects, however, may present themselves in the coming years for governments in developing regions. Examples of such countries are Brazil, Russia, and India. Due to their vast populations with unmet healthcare demands, improved healthcare infrastructure, increased government backing, and increased healthcare expenditure over the past few years, these countries have been fertile ground for the smart insulin devices market to expand. In developing and underdeveloped economies, a sizable population has not yet been diagnosed with diabetes.
The global smart insulin or glucose-responsive insulin market is segmented by delivery device, disease, and end-user.
Based on delivery device, the global smart insulin or glucose-responsive insulin market is bifurcated into smart insulin pens and smart insulin pumps.
The smart insulin pump segment is the highest contributor to the market.Smart insulin pumps are devices attached to the body's surfaces and use a catheter implanted under the skin to deliver insulin. These portable devices, which consist of a flexible tube for insulin delivery, replace the need for several injections throughout the day. The demand for smart insulin pumps is expected to rise due to the rising popularity of home infusion therapy and the improvements made to conventional insulin pumps. Touchscreens, water resistance, warnings for blocked pumps and missed glucose readings, and other advanced features are all available in modern insulin pumps.
Based on disease, the global smart insulin or glucose-responsive insulin market is bifurcated into type 1 diabetes and type 2 diabetes.
The type 1 diabetes segment is the highest contributor to the market.Type I diabetes, caused by an autoimmune condition, typically manifests it in young children. Type I diabetes results from the body's immune system mistakenly attacking the pancreatic beta cells responsible for making insulin. The prevalence of type 2 diabetes has been increasing alongside the rate of urbanization, unhealthy diets, and insufficient levels of physical activity.
Based on end-user, the global smart insulin or glucose-responsive insulin market is bifurcated into rapid-acting insulin, intermediate-acting insulin, long-acting insulin, short-acting insulin, and premixed-type insulin.
The rapid-acting insulinsegment is the highest contributor to the market. Rapid-acting insulin is one of the quickest-acting insulin, beginning to work within 15 minutes of administration and continuing to do so for the recommended 5 hours. After 30 minutes, the body begins to respond to short-acting insulin. To get the most out of it, take 30–45 minutes before eating. As little as one injection can have a lasting effect lasting up to eight hours. Taking rapid-acting insulin after meals is recommended since it mimics the body's natural insulin and prevents hypoglycemia. Most people with diabetes who use insulin pumps inject small amounts of insulin into the body at regular intervals and opt for rapid-acting insulin. Pumps like the Medtronic Minimed 530G Systems and the Medtronic Minimed 630G System are suitable for use with rapid-acting insulin.
North America Dominates the Global Market
The global smart insulin or glucose-responsive insulin market is bifurcated into four regions, namely North America, Europe, Asia-Pacific, and LAMEA.
North America is the most significant shareholder in the global smart insulin or glucose-responsive insulin market. Specifically, the United States, Canada, and Mexico are examined as constituting North America. Smart insulin or glucose-reactive insulin device makers in North America can anticipate profitable opportunities brought on by the region's large pool of people opting for diabetes treatment and the rise in diabetes rates. The market for smart insulin, also known as glucose-responsive insulin, is expanding rapidly in North America due to a mature supply-side infrastructure, rapid adoption of breakthrough technologies, and sufficient reimbursements (relative to other regions). Market expansion is hampered, however, by the lengthy licensing process necessitated by strict regulatory requirements of device quality and safety. Market expansion in North America is expected to be hampered by fears about a lack of cyber security protection.
Europe is expected to grow during the forecast period. Europe is studied in Germany, France, the United Kingdom, Italy, and the rest of Europe. In Europe, the government and non-profits are working on initiatives to raise awareness of diabetes and the best ways to treat it. Similar increases in spending have been seen in recent years throughout Europe on diabetes-related healthcare. Manufacturers in Europe are encouraged to continue developing smart insulin devices in response to government initiatives that may lead to increased acceptance of such devices among individuals with diabetes. To meet the needs of this expanding diabetic population, several firms have recently introduced cutting-edge products, including insulin pumps and pens that use continuous glucose monitor (CGM) technology.
Asia-Pacific is broken down into China, Japan, India, Australia, and the rest of Asia-Pacific. An upward trend in the prevalence of diabetes in the area is a significant contributor to this expansion. In addition, the rate of diabetes prevalence has risen dramatically over the past decade, and the country now has more diabetic people than India. Rapid modernization, resulting from an obesogenic environment, is primarily to blame for the increase in diabetic patients. The increasing prevalence of chronic diseases such as diabetes and heart disease and the rising demand for home-based therapies for diabetes management and consultation bolsters the market.
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