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.
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.
The report segments the smart insulin market on the basis of types, diseases, delivery devices and geography. On the basis of types, market is diverged into rapid acting, intermediate acting, long acting, short acting and premixed type of insulin. Based on diseases, the market is segmented into Type 1 diabetes and Type 2 diabetes. The market segmentations on the basis of delivery devices are smart insulin pen, smart insulin pump and smart insulin patch or microneedle array patch. The market is analyzed across geographical regions namely North America, Europe, Asia-Pacific, and LAMEA.
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.
KEY BENEFITS FOR STAKEHOLDERS:
This report provides an extensive analysis of the current and emerging market trends and dynamics in the global smart insulin market.
In-depth analysis has been done in this report by constructing market estimations for the key market segments between 2014 and 2022
This study evaluating competitive landscape and value chain has been taken into account to help in understanding the competitive environment across the geographies
Region-wise and country-wise global smart insulin market conditions are comprehensively analyzed in this report.
Comprehensive analysis of all regions are provided that determines the prevailing opportunities in these geographies
An in-depth analysis of current research and clinical developments within global smart insulin market is provided with key market dynamic factors that help in understanding the behaviour of the market
SMART INSULIN OR GLUCOSE RESPONSIVE INSULIN MARKET KEY SEGMENTS:
Market by Types
- Rapid Acting
- Intermediate Acting
- Long Acting
- Short Acting
- Premixed Type
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
- North America