Global Next Generation Diabetes Therapy and Drug Delivery Market to Reach US$ 33.5 Billion by 2032, Impelled by Rising Prevalence of Diabetes

July 11, 2023 | Healthcare IT

According to the latest report by IMARC Group, titled "Next Generation Diabetes Therapy and Drug Delivery Market by Product Type (Inhalable Insulin, Oral Insulin, Insulin Patches, CGM Systems, Artificial Pancreas), Demographic (Adult Population (>14 Years), Child Population (14 Years)), Indication (Type 1 diabetes, Type 2 diabetes), End User (Diagnostic/Clinics, Intensive Care Units (ICUs), Home Healthcare), and Region 2024-2032," the global next generation diabetes therapy and drug delivery market size reached US$ 9.8 Billion in 2023. Next-generation diabetes therapy and drug delivery refer to modern approaches and technologies aimed at improving the treatment of diabetes, mainly in terms of therapeutic effectiveness, patient convenience, and disease management. These advancements focus on delivering insulin or other antidiabetic medications more efficiently, enhancing glucose control, and reducing the burden on individuals living with diabetes. They aim to improve the lives of individuals with diabetes by enhancing treatment precision. These advancements strive to achieve better glucose control, reduce the burden of diabetes self-management, and ultimately improve long-term outcomes for individuals living with diabetes.

Global Next Generation Diabetes Therapy and Drug Delivery Market Trends:

The global market is primarily driven by the rising prevalence of diabetes among the masses. This can be attributed to the sedentary lifestyle led by individuals, unhealthy diets, and increasing obesity rates. Moreover, the growing demand for convenience and better quality of life is providing an impetus to the demand for next generation diabetes therapy and drug delivery systems as patients with diabetes often face challenges with traditional treatment methods, such as frequent injections, complex dosing regimens, and the need for constant monitoring. Furthermore, the increasing focus on personalized medicine is acting as another growth-inducing factor since next-generation therapies aim to incorporate personalized medicine approaches by leveraging technologies, including continuous glucose monitoring (CGM), data analytics, and algorithms to provide individualized treatment strategies and insulin dosing recommendations. The market is further driven by rapid advancements in technology that have paved the way for innovative diabetes therapies and drug delivery systems. For instance, the introduction of wearable devices and sensors to data analytics and artificial intelligence enables real-time monitoring, personalized treatment strategies, and automated insulin delivery systems, thereby supporting the market favorably. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 33.5 Billion by 2032, exhibiting a CAGR of 14.23% during 2024-2032.

Market Summary:

  • On the basis of the product type, the market has been categorized into inhalable insulin, oral insulin, insulin patches, CGM systems and artificial pancreas. Among these, CGM systems represent the largest segment.
  • Based on the demographic, the market has been segmented into adult population (>14 years) and child population (14 years). Presently, adult population (>14 years) exhibits a clear dominance in the market.
  • On the basis of the indication, the market has been segregated into type 1 and type 2 diabetes. Currently, type 2 diabetes dominates the market.
  • Based on the end user, the market has been classified into diagnostic/clinics, intensive care units (ICUs) and home healthcare. Among these, diagnostic/clinics account for the largest market share.
  • Region wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa. Presently, North America holds the leading position in the market.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include Abbott Laboratories, Dexcom Inc., Eli Lilly and Company, Enteris BioPharma Inc. (Swk Holdings Corporation), GlySens Incorporated, MannKind Corporation, Medtronic plc, Sanofi and Senseonics.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Product Types Covered Inhalable Insulin, Oral Insulin, Insulin Patches, CGM Systems, Artificial Pancreas
Demographics Covered Adult Population (>14 Years), Child Population (14 Years)
Indications Covered Type 1 diabetes, Type 2 diabetes
End Users Covered Diagnostic/Clinics, Intensive Care Units (ICUs), Home Healthcare
Regions Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Abbott Laboratories, Dexcom Inc., Eli Lilly and Company, Enteris BioPharma Inc. (Swk Holdings Corporation), GlySens Incorporated, MannKind Corporation, Medtronic plc, Sanofi, Senseonics, etc.
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Global Next Generation Diabetes Therapy and Drug Delivery Market to Reach US$ 33.5 Billion by 2032, Impelled by Rising Prevalence of Diabetes
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