The global Automated Insulin Delivery Systems market, which utilizes user-friendly technology to regulate blood glucose levels through continuous glucose monitoring, was valued at $4.91 billion in 2019. It is projected to reach $7.81 billion by 2027, with a compound annual growth rate (CAGR) of 6.0%. Several key factors contribute to the growth of this market, including the increasing prevalence of diabetes worldwide, the rising rate of the geriatric population and obesity, advancements in technology, favorable reimbursement policies, and investments and awareness initiatives. The prevalence of diabetes is higher among individuals aged 45 to 70 compared to younger individuals. The global geriatric population is rapidly increasing, particularly in Europe and North America, where the proportion of individuals aged 65 and above is the highest. According to the United Nations, it is estimated that by 2050, the geriatric population will account for 35% of the population in Europe, 28% in Northern America, 25% in Latin America and the Caribbean, 24% in Asia, 23% in Oceania, and 9% in Africa. This growing geriatric population, being the most vulnerable group, is expected to drive market growth during the forecast period.

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Companies considered and profiled in this market study

Novo Nordisk A/S, Sanofi, Eli Lilly and Company, Biocon, Ypsomed, Wockhardt, Digital Medics, Abbott, F. Hoffmann-La Roche, Ltd., BD, Animas LLC, Medtronic, Tandem Diabetes Care, Inc, Diabetes Care, Bigfoot Biomedical, INC, DreaMed Diabetes, Ltd and WTWH Media LLC are the key players of the Automated Insulin Delivery Systems market.

The players operating in the market have undertaken several strategies related to the market in the period 2017-2020. The key highlight is:

  • Technological advances in automated insulin delivery is playing vital role in generating future opportunities. For instance, Bigfoot Biomedical is engaged in development of a novel insulin pen that designed for multiple injection therapy for individual which is likely to develop in 2021
  • Tandem Diabetes Care in 2019, received FDA approval for its new automated insulin delivery software system for people with Type 1 diabetes. Control-IQ technology connects with CGM and insulin pumps automatically adjust blood glucose level

 

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The Automated Insulin Delivery Systems market is driven by several factors, including:

  1. Increasing Diabetes Prevalence: The rising global prevalence of diabetes is a significant driving factor for the market. As the number of people diagnosed with diabetes continues to grow, the demand for effective and user-friendly insulin delivery systems increases.
  2. Growing Geriatric Population: The geriatric population is expanding worldwide, particularly in Europe and North America. This demographic group is more prone to diabetes and requires continuous monitoring and insulin delivery. The increasing geriatric population contributes to the market's growth.
  3. Technological Advancements: Ongoing technological advancements in Automated Insulin Delivery Systems enhance their effectiveness, ease of use, and safety. Innovations such as continuous glucose monitoring and closed-loop systems have improved the accuracy and convenience of insulin delivery, driving market growth.
  4. Favorable Reimbursement Policies: The presence of favorable reimbursement policies and insurance coverage for Automated Insulin Delivery Systems encourages patient adoption. When patients have access to affordable treatment options, the market for these systems expands.
  5. Investment and Awareness Initiatives: Increased investments by key players in research and development activities, along with awareness initiatives by healthcare organizations and diabetes associations, contribute to market growth. These efforts focus on educating healthcare professionals and patients about the benefits of Automated Insulin Delivery Systems.

Despite the positive driving factors, the Automated Insulin Delivery Systems market faces some restraints, including:

  1. High Costs: The initial costs associated with acquiring Automated Insulin Delivery Systems can be significant, including the cost of devices, sensors, and ongoing maintenance. These expenses may limit market growth, especially in regions with limited healthcare resources and affordability constraints.
  2. Regulatory Challenges: The market for Automated Insulin Delivery Systems is subject to strict regulations and approvals from regulatory authorities. The lengthy and complex regulatory processes can pose challenges for manufacturers, leading to delays in product launches and market penetration.
  3. Limited Awareness and Adoption: Despite awareness initiatives, some healthcare professionals and patients may still lack knowledge about Automated Insulin Delivery Systems. Limited awareness and adoption rates can hinder market growth, as patients may be hesitant to switch from traditional insulin delivery methods.
  4. Technical Issues and Malfunctions: Automated Insulin Delivery Systems rely on complex technologies and components, which can occasionally experience technical issues or malfunctions. These challenges can impact the reliability and safety of the systems, affecting market growth and consumer trust.

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