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Global Smart Insulin or Glucose Responsive Insulin Market (2023-2028) by Drug, Delivery Devices, Disease, Type, and Geography, Competitive Analysis, Impact of Covid-19 and Ansoff Analysis

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  • 163 Pages
  • July 2023
  • Region: Global
  • Infogence Global Research
  • ID: 5635701
UP TO OFF until Dec 31st 2023

Quick Summary:

In an ever-changing global healthcare landscape, staying ahead of the curve is critical. Our comprehensive report on the Global Smart Insulin or Glucose Responsive Insulin Market provides you with the knowledge needed to act strategically and make informed decisions. With smart insulin technology experiencing a surge of interest and investment, this invaluable resource navigates the complexities with detailed insights into market trends, opportunities, and challenges.

This comprehensive report critically analyses the current market landscape - evaluating essential elements such as the major driving factors behind the smart insulin's demand, the influence of obesity and elderly demographics, and the technological advancements in insulin delivery systems. Furthermore, it examines the significant opportunities arising from increased R&D expenditures and regulations concerning insulin biosimilars.

Not overlooking the potential pitfalls, it assesses the constraints posed by high manufacturing costs and strict regulatory standards, and the impact these factors might have on the market. With the inclusion of a detailed geographic and segmentation analysis, this report is a fundamental tool for effective planning and strategy formulation for all senior business executives operating in the healthcare sector.

Between 2000 and 2019, there was a 3% increase in diabetes mortality rates by age

The Global Smart Insulin or Glucose Responsive Insulin Market is estimated to be USD 3.45 Bn in 2023 and is expected to reach USD 5.74 Bn by 2028, growing at a CAGR of 10.7%.

Smart insulin, often referred to as glucose-responsive insulin, is an innovative insulin that automatically modifies its activity in accordance with the person's blood sugar levels. It can potentially reduce the need for frequent insulin injections and improve diabetes control because it activates when glucose levels are high and deactivates when they are low.

The rising incidence of diabetes among the world's population is what is driving the demand for smart insulin. Due to unhealthful lifestyles, sedentary behaviors, and poor dietary decisions, diabetes, especially type 2 diabetes, has been on the rise. In order to better control the disease and enhance patients' quality of life, there is an increasing need for modern and more efficient treatment options, such as glucose-responsive insulin.

The rise greatly influences the demand for smart insulin in the number of elderly and obese people. Obese and elderly people are both more likely to acquire diabetes, and both groups frequently need insulin therapy to control their condition. The increasing demand for more specialized and effective insulin delivery techniques drives the development and widespread use of glucose-responsive insulin.

The quick development and improvement significantly influence the rise of the smart insulin market in insulin delivery systems. Insulin delivery has become more practical and accurate due to technological advancements like wearable insulin pumps and intelligent insulin pens. By providing an automated and adaptable insulin administration system that improves treatment adherence and glycemic control and promotes market expansion, glucose-responsive insulin complements these technological developments.

Due to new laws governing insulin biosimilars and rising R&D expenditures, the market for smart insulin offers opportunities. Regulatory agencies are streamlining the clearance procedure for biosimilar insulin as the patents for traditional insulin products expire, creating new opportunities for competition and affordable alternatives. Increasing R&D spending also makes it possible to create more sophisticated and technologically advanced glucose-responsive insulin formulations, which expands the market.

High growth potential exists in emerging markets for insulin medications, especially smart insulin. The rise in diabetes prevalence in these areas is mostly brought on by urbanization, changing lifestyles, and dietary changes. Innovative diabetes therapies are in more demand as healthcare infrastructure develops and disposable incomes rise, creating markets that are ideal for the uptake and commercialization of glucose-responsive insulin.

However, the high cost of insulin medications restricts the market for smart insulin or glucose-responsive insulin. The costs associated with developing, producing, and distributing improved insulin formulations can increase the cost to patients, making them less accessible and affordable for some people.

Due to stringent regulatory standards guiding the approval of new products, the market for smart insulin confronts difficulties. The introduction of novel glucose-responsive insulin solutions to the market might be hindered by the difficult and stringent regulatory procedures, which can increase manufacturing costs and lengthen timelines.

Market Segmentations

The Global Smart Insulin or Glucose Responsive Insulin Market is segmented based on Drug, Delivery Devices, Disease, Type, and Geography.
  • By Drug, the Global Smart Insulin or Glucose Responsive Insulin Market is classified into Biologic and Biosimilar.
Biologics hold a larger market share. Due to their distinctive formulations and well-established presence, they are original, complex pharmaceuticals made from live organisms, dominate the market.
  • By Delivery Devices, the Global Smart Insulin or Glucose Responsive Insulin Market is classified into Smart Insulin Pens and Smart Insulin Pumps.
Smart insulin pens hold a significant market share. Patients like smart insulin pens because they provide a more convenient and concealed way to administer insulin. In addition, compared to insulin pumps, they are simpler to use and require less training, which contributes to their higher acceptance rate.
  • By Disease, the Global Smart Insulin or Glucose Responsive Insulin Market is classified into Type I Diabetes and Type II Diabetes.
Type II Diabetes holds a larger market share. About 90-95% of all instances of diabetes are Type II, which is more common. There is now a wider market for treatments and management alternatives due to the higher prevalence of Type II Diabetes brought on by rising obesity rates and sedentary lifestyles.
  • By Type, the Global Smart Insulin or Glucose Responsive Insulin Market is classified into Rapid-acting Insulin, Short-acting Insulin, Intermediate-acting Insulin, Long-acting Insulin, and Pre-mixed Insulin.
Rapid-acting insulin holds a significant market share. It is useful for managing blood sugar levels after meals due to its rapid onset and brief duration. Rapid-acting insulin has become more well-liked and frequently used in the treatment of diabetes as the emphasis on precise glycemic control has increased.
  • By Geography, the Global Smart Insulin or Glucose Responsive Insulin Market is classified into the Americas, Europe, Middle-East & Africa, and Asia-Pacific.
The Americas hold a larger market share. This is due to the region's increased understanding of diabetes management, highly developed healthcare system, and high prevalence of diabetes.

Recent Developments

Medtronic acquires insulin patch pump maker EOFlow for $738M amid new MiniMed rollout - May 2023
Diabeloop announces collaboration with Novo Nordisk to pursue its interoperability strategy with connected insulin pens - A dedicated clinical program will assess the efficacy of the combined technologies - March 2023

Company Profiles

The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are Becton, Dickinson and Company, Dongbao Enterprise Group, MannKind, Novartis International, Piramal Healthcare, etc.

Countries Studied

  • America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
  • Europe (Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Luxemburg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
  • Middle-East and Africa (Egypt, Israel, Qatar, Nigeria, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
  • Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

The report presents a detailed Ansoff matrix analysis for the Global Smart Insulin or Glucose Responsive Insulin Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.

The analyst analyses the Global Smart Insulin or Glucose Responsive Insulin Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.

Based on the SWOT analysis conducted on the industry and industry players, The analyst has devised suitable strategies for market growth.

Why buy this report?

  • The report offers a comprehensive evaluation of the Global Smart Insulin or Glucose Responsive Insulin Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
  • The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
  • Excel data sheet for the market size will also be provided with the report.
  • The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
  • The report includes an in-depth market analysis using Porter’s 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
  • The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
  • The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors
  • The report offers customized research - tailored uniquely to our customers with a quick turnaround time. We offer a 15% customization option at no extra charge to all our clients for any of our syndicated reports.

Report Highlights:

  • A complete analysis of the market, including the parent industry
  • Important market dynamics and trends
  • Impact Analysis - a comprehensive assessment to confront risk and make strategic & operational decisions to counter the changes in the market environment.
  • Market segmentation
  • Competitive Analysis: Comparative analysis of competitor
  • Historical, current, and projected size of the market based on value and volume
  • Market size of the US states
  • Market shares and strategies of key players
  • Recommendations to companies for strengthening their foothold in the market

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Frequently Asked Questions about the Global Smart Insulin or Glucose Responsive Insulin Market

What is the estimated value of the Global Smart Insulin or Glucose Responsive Insulin Market?

The Global Smart Insulin or Glucose Responsive Insulin Market was estimated to be valued at $3.45 Billion in 2023.

What is the growth rate of the Global Smart Insulin or Glucose Responsive Insulin Market?

The growth rate of the Global Smart Insulin or Glucose Responsive Insulin Market is 10.7%, with an estimated value of $5.74 Billion by 2028.

What is the forecasted size of the Global Smart Insulin or Glucose Responsive Insulin Market?

The Global Smart Insulin or Glucose Responsive Insulin Market is estimated to be worth $5.74 Billion by 2028.

Who are the key companies in the Global Smart Insulin or Glucose Responsive Insulin Market?

Key companies in the Global Smart Insulin or Glucose Responsive Insulin Market include Adocia, AstraZeneca, B. Braun Melsungen, Becton, Dickinson and Company, Biocon, Dongbao Enterprise Group, Eli Lilly and Company, GSK, Johnson & Johnson and Julphar.

Table of Contents

1 Report Description
1.1 Study Objectives
1.2 Market Definition
1.3 Currency
1.4 Years Considered
1.5 Language
1.6 Key Stakeholders
2 Research Methodology
2.1 Research Process
2.2 Data Collection and Validation
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Analyst Models
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
2.3.2 Top-Down Approach
2.4 Assumptions of the Study
2.5 Limitations of the Study
3 Executive Summary
3.1 Introduction
3.2 Market Size, Segmentations, and Outlook
4 Market Dynamics
4.1 Impact Analysis
4.2 Drivers
4.2.1 Growing Prevalence of Diabetes Among the Population
4.2.2 Increasing Incidence of Geriatric and Obese Population
4.2.3 Rapid Development in Insulin Delivery Systems
4.3 Restraints
4.3.1 High Cost Associated with Insulin Drugs
4.4 Opportunities
4.4.1 New Regulations for Insulin Biosimilars and Rising Investments in R&D
4.4.2 High Potential of Insulin Drugs in Emerging Economies
4.5 Challenges
4.5.1 Strict Regulatory Norms for the Approval of Product
5 Market Analysis
5.1 Regulatory Scenario
5.2 Porter’s Five Forces Analysis
5.3 PESTLE Analysis
5.4 Impact of COVID-19
5.5 Ansoff Matrix Analysis
6 Global Smart Insulin or Glucose Responsive Insulin Market, By Drug
6.1 Introduction
6.2 Biologic
6.3 Biosimilar
7 Global Smart Insulin or Glucose Responsive Insulin Market, By Delivery Devices
7.1 Introduction
7.2 Smart Insulin Pens
7.3 Smart Insulin Pumps
8 Global Smart Insulin or Glucose Responsive Insulin Market, By Disease
8.1 Introduction
8.2 Type I Diabetes
8.3 Type II Diabetes
9 Global Smart Insulin or Glucose Responsive Insulin Market, By Type
9.1 Introduction
9.2 Rapid-acting Insulin
9.3 Short-acting Insulin
9.4 Intermediate-acting Insulin
9.5 Long-acting Insulin
9.6 Pre-mixed Insulin
10 America’s Smart Insulin or Glucose Responsive Insulin Market
10.1 Introduction
10.2 Argentina
10.3 Brazil
10.4 Canada
10.5 Chile
10.6 Colombia
10.7 Mexico
10.8 Peru
10.9 United States
10.10 Rest of Americas
11 Europe's Smart Insulin or Glucose Responsive Insulin Market
11.1 Introduction
11.2 Austria
11.3 Belgium
11.4 Denmark
11.5 Finland
11.6 France
11.7 Germany
11.8 Ireland
11.9 Italy
11.10 Luxembourg
11.11 Netherlands
11.12 Norway
11.13 Poland
11.14 Russia
11.15 Spain
11.16 Sweden
11.17 Switzerland
11.18 United Kingdom
11.19 Rest of Europe
12 Middle East and Africa's Smart Insulin or Glucose Responsive Insulin Market
12.1 Introduction
12.2 Egypt
12.3 Israel
12.4 Qatar
12.5 Nigeria
12.6 Saudi Arabia
12.7 South Africa
12.8 United Arab Emirates
12.9 Rest of MEA
13 APAC's Smart Insulin or Glucose Responsive Insulin Market
13.1 Introduction
13.2 Australia
13.3 Bangladesh
13.4 China
13.5 India
13.6 Indonesia
13.7 Japan
13.8 Malaysia
13.9 Philippines
13.10 Singapore
13.11 South Korea
13.12 Sri Lanka
13.13 Thailand
13.14 Taiwan
13.15 Rest of Asia-Pacific
14 Competitive Landscape
14.1 Analyst Competitive Quadrant
14.2 Market Share Analysis
15 Company Profiles
15.1 Adocia
15.1.1 Company Overview
15.1.2 Company Snapshot
15.1.3 Product Overview
15.1.4 Business Overview
15.1.5 SWOT Analysis
15.1.6 Recent Developments
15.2 AstraZeneca
15.2.1 Company Overview
15.2.2 Company Snapshot
15.2.3 Product Overview
15.2.4 Business Overview
15.2.5 SWOT Analysis
15.2.6 Recent Developments
15.3 B. Braun Melsungen
15.3.1 Company Overview
15.3.2 Company Snapshot
15.3.3 Product Overview
15.3.4 Business Overview
15.3.5 SWOT Analysis
15.3.6 Recent Developments
15.4 Becton, Dickinson and Company
15.4.1 Company Overview
15.4.2 Company Snapshot
15.4.3 Product Overview
15.4.4 Business Overview
15.4.5 SWOT Analysis
15.4.6 Recent Developments
15.5 Biocon
15.5.1 Company Overview
15.5.2 Company Snapshot
15.5.3 Product Overview
15.5.4 Business Overview
15.5.5 SWOT Analysis
15.5.6 Recent Developments
15.6 Dongbao Enterprise Group
15.6.1 Company Overview
15.6.2 Company Snapshot
15.6.3 Product Overview
15.6.4 Business Overview
15.6.5 SWOT Analysis
15.6.6 Recent Developments
15.7 Eli Lilly and Company
15.7.1 Company Overview
15.7.2 Company Snapshot
15.7.3 Product Overview
15.7.4 Business Overview
15.7.5 SWOT Analysis
15.7.6 Recent Developments
15.8 GSK
15.8.1 Company Overview
15.8.2 Company Snapshot
15.8.3 Product Overview
15.8.4 Business Overview
15.8.5 SWOT Analysis
15.8.6 Recent Developments
15.9 Johnson & Johnson
15.9.1 Company Overview
15.9.2 Company Snapshot
15.9.3 Product Overview
15.9.4 Business Overview
15.9.5 SWOT Analysis
15.9.6 Recent Developments
15.10 Julphar
15.10.1 Company Overview
15.10.2 Company Snapshot
15.10.3 Product Overview
15.10.4 Business Overview
15.10.5 SWOT Analysis
15.10.6 Recent Developments
15.11 MannKind
15.11.1 Company Overview
15.11.2 Company Snapshot
15.11.3 Product Overview
15.11.4 Business Overview
15.11.5 SWOT Analysis
15.11.6 Recent Developments
15.12 Medtronic
15.12.1 Company Overview
15.12.2 Company Snapshot
15.12.3 Product Overview
15.12.4 Business Overview
15.12.5 SWOT Analysis
15.12.6 Recent Developments
15.13 Merck & Co.
15.13.1 Company Overview
15.13.2 Company Snapshot
15.13.3 Product Overview
15.13.4 Business Overview
15.13.5 SWOT Analysis
15.13.6 Recent Developments
15.14 Novartis International
15.14.1 Company Overview
15.14.2 Company Snapshot
15.14.3 Product Overview
15.14.4 Business Overview
15.14.5 SWOT Analysis
15.14.6 Recent Developments
15.15 Novo Nordisk
15.15.1 Company Overview
15.15.2 Company Snapshot
15.15.3 Product Overview
15.15.4 Business Overview
15.15.5 SWOT Analysis
15.15.6 Recent Developments
15.16 Oramed Pharmaceuticals
15.16.1 Company Overview
15.16.2 Company Snapshot
15.16.3 Product Overview
15.16.4 Business Overview
15.16.5 SWOT Analysis
15.16.6 Recent Developments
15.17 Pfizer
15.17.1 Company Overview
15.17.2 Company Snapshot
15.17.3 Product Overview
15.17.4 Business Overview
15.17.5 SWOT Analysis
15.17.6 Recent Developments
15.18 Piramal Healthcare
15.18.1 Company Overview
15.18.2 Company Snapshot
15.18.3 Product Overview
15.18.4 Business Overview
15.18.5 SWOT Analysis
15.18.6 Recent Developments
15.19 Sanofi
15.19.1 Company Overview
15.19.2 Company Snapshot
15.19.3 Product Overview
15.19.4 Business Overview
15.19.5 SWOT Analysis
15.19.6 Recent Developments
15.20 Teijin
15.20.1 Company Overview
15.20.2 Company Snapshot
15.20.3 Product Overview
15.20.4 Business Overview
15.20.5 SWOT Analysis
15.20.6 Recent Developments
16 Appendix
16.1 Self-Assessment Form

Companies Mentioned

  • Adocia
  • AstraZeneca
  • B. Braun Melsungen
  • Becton, Dickinson and Company
  • Biocon
  • Dongbao Enterprise Group
  • Eli Lilly and Company
  • GSK
  • Johnson & Johnson
  • Julphar
  • MannKind
  • Medtronic
  • Merck & Co.
  • Novartis International
  • Novo Nordisk
  • Oramed Pharmaceuticals
  • Pfizer
  • Piramal Healthcare
  • Sanofi
  • Teijin