The global continuous subcutaneous insulin infusion market size is expected to reach USD 7.3 billion by 2027, registering a CAGR of 10.3% over the forecast period, according to a new report by Grand View Research, Inc. The key drivers of the market include increasing number of diabetes population coupled with technological advancement in the field of diabetes care.
According
to International Diabetes Federation (IDF), the total number of diabetic
population is expected to grow by 51.0% from 463.0 million in 2019 to 700.0
million in 2045. Rising health expenditure and growing awareness about
preventive care is expected to boost market growth. According to the IDF, the
estimated total global health expenditure to diabetes was USD 760.0 billion and
is projected to grow to USD 845.0 billion by 2045. Furthermore, rising
government initiatives to spread the awareness about diabetes is propelling the
adoption of advanced diabetes management devices. Australian government
launched Australian National Diabetes Strategy 2016 to 2020. The strategy aims
to trace country’s national response to this epidemic and inform how existing
limited healthcare can be better targeted across all level of government.
Increasing
number of product launches and advent of artificial intelligence in
the market is boosting the growth. Many startups are transforming CSII therapy.
These companies are taking initiatives to lessen the burden of diabetes with
help of AI technology. They are leveraging technological advancement to improve
market solutions like integrated insulin pumps, non-invasive insulin delivery systems,
and closed-loop artificial pancreases.
Full Research Report On Continuous Subcutaneous Insulin Infusion Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/continuous-subcutaneous-insulin-infusion-market
Continuous
Subcutaneous Insulin Infusion Market Report Highlights
- North America
accounted for the largest share in 2019 owing to favorable reimbursement
policies, presence of key players, and frequent product launches
- Asia Pacific
is expected to see robust growth during the forecast period owing to
presence of large diabetic population
- By product,
tethered pumps dominated the market owing to availability of products
- By patient
type, type 1 patients account for the largest share owing wide usage
of insulin pumps
- By end use,
the hospitals segment dominated the market in 2019 and the homecare segment
is expected to grow at a fastest pace
- The market is
highly competitive owing to continuous technological advancement and many
innovative product launches.
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About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company, registered
in the State of California and headquartered in San Francisco. The company
provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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