Next Generation Diabetes Therapy and Drug Delivery Market

by Product (Inhalable Insulin, Oral Insulin, Insulin Patches, CGM Systems, Artificial Pancreas), by Demographic (Adult Population (>14years), Child Population (14years)), by Indication (Type 1 Diabetes, Type 2 Diabetes), by End User (Diagnostic/Clinics, ICUs, Home Healthcare): Global Opportunity Analysis and Industry Forecast, 2020-2030
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LS : Medical Devices & Supplies	✷ Report Code: A01768	Mar 2022 \| Pages: 254
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Next Generation Diabetes Therapy And Drug Delivery Market Research, 2030

The global Next Generation Diabetes Therapy and Drug Delivery Market size was valued at $7.1 billion in 2020, and is projected to reach $28.0 billion by 2030, growing at a CAGR of 14.28% from 2021 to 2030. Next generation diabetes therapy and drug delivery devices are used to check the blood glucose levels and deliver insulin into the body. Next Generation Diabetes Therapy and Drug Delivery Market opportunity in oral and inhalable insulin, help introduce insulin into the patient’s body without causing pain and reduce the risk of skin irritation, owing to frequent use of needles. Advancements in diabetes therapy systems, such as insulin patch, continuous glucose monitoring (CGM) system, and artificial pancreas, are frequently used to detect the glucose levels and adjust the insulin levels to manage the change in glucose levels.

The global COVID-19 pandemic has and may continue to have an adverse impact on manufacturing and distribution capabilities of drug delivery devices. In addition, the COVID-19 pandemic and associated shelter-in-place orders restricted ability to initiate, conduct or continue our clinical trials. Delays and disruption in clinical trials could results in delays for expanded FDA clearance or approval of new products

Increase in prevalence of diabetes, especially type-2 diabetes, due to increase in urbanization, unhealthy diet, and reduced physical activity drive the growth of the next generation diabetes therapy and drug delivery market. In addition, benefits of using these advanced devices over conventional products, rise in the healthcare expenditure, and increase in the disposable income among the diabetic patients are some factors that further boost the growth of the market. However, lack of awareness, cost restrains in the developing regions, and less variability in products are expected to hinder the growth of the market. On the other hand, development of affordable products with fewer side effects and presence of undiagnosed diabetic patients globally are expected to offer profitable opportunities for the growth of the market during the forecast period.

The Next Generation Diabetes Therapy and Drug Delivery Market growth was slowed by the outbreak of COVID-19 resulted in disrupted workflows in the healthcare sector globally. The COVID-19 pandemic negatively impacted the global next generation diabetes therapy and drug delivery industry market initially in 2020 due to global economic recession led by COVID-19. The implementation of lockdown compromised clinical care of diabetic patients due to service disruption; thereby, having a minimal negative impact on the market.

The global COVID-19 pandemic has and may continue to have an adverse impact on manufacturing and distribution capabilities of drug delivery devices. In addition, the COVID-19 pandemic and associated shelter-in-place orders restricted ability to initiate, conduct or continue our clinical trials. Delays and disruption in clinical trials could results in delays for expanded FDA clearance or approval of new products. For instance, Dexom Inc. has experienced some delays in certain pivotal clinical trials for their next-generation CGM product. This has significantly contributed to decline of the global next generation diabetes therapy and drug delivery market. However, the market is anticipated to witness recovery in 2021, and show stable growth for next generation diabetes therapy and drug delivery market in the coming future. For instance, in April 2020, Dexom inc. provided CGM devices and support to users to enable real-time remote patient monitoring in hospitals and other healthcare facilities, to support COVID-19 healthcare related efforts.

Next Generation Diabetes Therapy market and drug delivery market is segmented on the basis of product, demographic, indication, end user, and region. On the basis of product, it is classified into inhalable insulin, oral insulin, insulin patches, CGM systems, and artificial pancreas. On the basis of demographic, it is categorized into adult population (>14 years) and child population (≤14 years). On the basis of indication, it is divided into type 1 diabetes and type 2 diabetes. By end user, the Next Generation Diabetes Therapy and Drug Delivery Market opportunity is classified into diagnostics/clinics, ICUs, and home healthcare. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.