Next Generation Diabetes Therapy and Drug Delivery Market Overview:
Global Next Generation Diabetes Therapy and Drug Delivery Market was valued at $617 million in 2015 and is expected to garner $9,673 million by 2022, registering a CAGR of 41.1% during the forecast period 2016 2023. The next generation diabetes therapy and the drug delivery devices are the advanced form of diabetic products that improve the quality of life of diabetic patients. Oral and inhalable insulin introduce a different mode of insulin delivery in diabetic patients, and are a painless mode of introducing insulin than the injectable insulins, reducing the risk of skin irritation caused due to needles. In addition, the dose volume is easily calculated in oral & inhalable insulin and helps to maintain the dosage time. Advanced diabetic therapy in the form of insulin patches, continuous glucose monitoring systems (CGMS), and artificial pancreas helps to improves management of blood sugar level and reduces the risk of any diabetic-related complications.
Global Next Generation Diabetes Therapy And Drug Delivery Market Segmentation
The global next generation diabetes therapy and drug delivery market is segmented based on product type, demographic, end user, and geography. Based on product type, it is classified into inhalable insulin, oral insulin, insulin patches, CGM systems, and artificial pancreas. Based on demographics, it is bifurcated into adult population (>14 years) and child population (14 years). Based on indication, it is divided into type 1 diabetes and type 2 diabetes. Based on end users, it is categorized into diagnostics/clinics, ICUs, and home healthcare. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market is expected to witness an exponential growth during the forecast period, owing to the benefits of using these advanced devices over conventional products and rise in the healthcare expenditure. Furthermore, the rise in the incidence of diabetes globally and increase in the disposable income among the diabetic patients are expected to boost the market growth. However, lack of awareness, cost restrains in the developing regions, and less variability in products are expected to hamper this growth. Development of affordable products with fewer side effects and presence of undiagnosed diabetic patients globally are expected to provide opportunities for the market growth.
The key players profiled in this report include Abbott Laboratories, Medtronic, Inc., Sanofi, Novo Nordisk, MannKind Corporation, Enteris BioPharma, Dexcom, Inc., Senseonics Holding, Inc., Medtech, and Johnson & Johnson.
Other players in the value chain include Synertech, Zosano Pharma Corp., Relmada Therapeutics, Inc., Eli Lilly and Company, and Transdermal Specialties Inc.
Next Generation Diabetes Therapy And Drug Delivery Market, By Geography, 2014-2023 ($Million)
Asia-Pacific possesses high market potential for the growth of next generation diabetes therapy and drug delivery market, owing to increase in demand for advanced diabetic products, high incidence of diabetes, and rise in healthcare expenditure. It has experienced fast-paced growth, in terms of production and development of advanced diabetic products.
South Korea Next Generation Diabetes Therapy And Drug Delivery Market, 2014-2023 ($Thousand)
South Korea market is projected to grow at a high CAGR of 49.7% during the forecast period.
- This report entails a detailed quantitative analysis of the current market trends from 2014 to 2023 to identify the prevailing opportunities.
- Market estimations are based on comprehensive analysis of the key developments in the industry.
- The global market is comprehensively analyzed with respect to product type, demographics, end users, and geography.
- In-depth analysis based on geography assists in understanding the regional market to assist in strategic business planning.
- The development strategies adopted by key manufacturers are enlisted to understand the competitive scenario of the market.
Next Generation Diabetes Therapy And Drug Delivery Market Key Segments:
By Product Type
- Inhalable Insulin
- Oral Insulin
- Insulin Patches
- CGM Systems
- Artificial Pancreas
- Adult Population (>14years)
- Child Population (14years)
- Type 1 Diabetes
- Type 2 Diabetes
By End User
- Home Healthcare
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Republic of South Africa
- Saudi Arabia
- Rest of LAMEA