Global Smart Insulin or Glucose Responsive Insulin Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

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

• 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 Development

• 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

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

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 publisher 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 publisher 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