Research Nester released a report titled “Hybrid Closed-Loop Insulin Delivery System Market: Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the global hybrid closed-loop insulin delivery system market in terms of market segmentation by component, by distribution channel and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Diabetes is an increasingly prevalent condition among people in which the body is unable to produce insulin in order to regulate the blood sugar levels. As a result, the hormone insulin has to be provided to the body from an external source. The hybrid closed-loop insulin delivery system is one such method of insulin delivery to the body.
The hybrid closed-loop insulin delivery system market is projected to record a significant CAGR during the forecast period, i.e., 2019-2027. The market is segmented by component, by distribution channel and by region. On the basis of distribution channel, the market is further segmented into hospital pharmacies, retail pharmacies, online pharmacies and others, out of which, the retail pharmacies segment is estimated to grow at the highest rate. This can be attributed to the large customer base present near retail pharmacies which increases the sale of the product in the market.
Regionally, the market in North America is estimated to hold the largest market share on account of growing advancements in medical technology along with high acceptance for novel insulin delivery methods among the population. The market in Asia Pacific, however, is anticipated to grow at the highest rate during the forecast period as a result of growing population and increasing prevalence of diabetes in the region. Additionally, the emerging healthcare industry is estimated to further expand the market.
Rising Demand For Effective Insulin Delivery Systems To Propel The Market Growth
Growing requirement for treatment methods for the management of type-1 diabetes is a major factor estimated to boost the market growth in the upcoming years. The increasing demand for efficient and improved insulin delivery methods is an additional factor that is anticipated to propel the market growth.
However, the limited availability of hybrid closed-loop insulin delivery systems is predicted to restrict the market growth as majority of the systems are under the process of being developed and are not FDA approved.
This report also provides the existing competitive scenario of some of the key players of the global hybrid closed-loop insulin delivery system market which includes company profiling of Medtronic Inc., Insulet Corporation, Beta Bionics, Eli Lilly, Tandem Inc. and Bigfoot Biomedical. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global hybrid closed-loop insulin delivery system market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.