Next Generation Diabetes Therapy and Drug Delivery Market to Grow with a CAGR of 7.25% through 2028
Growing diabetes epidemic and increased healthcare
expenditure are factors driving the Global Next Generation Diabetes Therapy and
Drug Delivery Market in the forecast period 2024-2028
According to TechSci Research report, “Next
Generation Diabetes Therapy and Drug Delivery Market – Global Industry Size,
Share, Trends, Competition Forecast & Opportunities, 2028”, the
Global Next Generation Diabetes Therapy and Drug Delivery Market stood at USD 22.25
billion in 2022 and is anticipated to grow with a CAGR of 7.25% in the forecast
period, 2024-2028. Diabetes is a global health
epidemic, affecting millions of people worldwide. As the prevalence of diabetes
continues to rise, so does the demand for innovative and effective therapies
and drug delivery methods. The Global Next Generation Diabetes Therapy and Drug
Delivery Market is a dynamic and rapidly evolving sector, driven by a confluence
of factors. Advancements in technology have revolutionized diabetes management.
Continuous Glucose Monitoring (CGM) systems, insulin pumps, and smart insulin
pens are just a few examples of how technology is transforming the way
individuals manage their diabetes. These innovations offer real-time data,
improved precision, and more convenient drug delivery methods, making diabetes
management easier and more effective. This encourages further research and
investment in the field. The
shift towards personalized medicine is another significant driver.
One-size-fits-all approaches to diabetes management are increasingly being
replaced with tailored therapies. Advanced diagnostics, genetics, and patient
data analysis allow healthcare providers to develop personalized treatment
plans. Next-generation therapies and drug delivery systems are being designed
to accommodate these individualized regimens, improving patient outcomes. The
growing global healthcare expenditure contributes to the expansion of the
diabetes therapy and drug delivery market. As governments and private
healthcare sectors allocate more resources to combat diabetes, there is greater
funding for research, development, and accessibility of advanced treatments and
drug delivery devices. A patient-centric approach is taking
precedence in healthcare. Patients are becoming more involved in their own care
and demand solutions that align with their lifestyle and preferences.
Next-generation therapies and drug delivery systems are designed with patient
comfort, ease of use, and adherence in mind, ensuring that patients have
greater control over their diabetes management.
The Global Next
Generation Diabetes Therapy and Drug Delivery Market is segmented into product
type, indication, end user and company.
Based on indication, the diabetes 2 segment has emerged as the predominant market leader.
Type 2
diabetes accounts for the majority of diabetes cases globally. Unlike Type 1
diabetes, which is characterized by the immune system attacking the
insulin-producing cells in the pancreas, Type 2 diabetes is primarily a
lifestyle-related condition. It is often associated with obesity, physical
inactivity, and unhealthy dietary habits. Over the past few decades, the
prevalence of Type 2 diabetes has been on the rise, attributed to factors such
as sedentary lifestyles, increased calorie consumption, and an aging
population. This has created a tremendous healthcare burden and prompted the
urgent need for more effective therapies and drug delivery methods.
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Based on region, North America segment is expected to
grow during the forecast period. North America's dominance in the
global next generation diabetes therapy and drug delivery market is the result
of a robust ecosystem that encompasses research institutions, pharmaceutical
and biotechnology companies, investment opportunities, and a stringent
regulatory environment. As the global diabetes epidemic continues to escalate,
it is imperative to address the evolving needs of patients and provide them
with advanced, patient-centric solutions. North America's leadership in this
endeavor ensures that the region will remain a driving force in the quest for
better diabetes care.
The Asia Pacific region is experiencing rapid market
growth. Asia Pacific offers a robust venture capital landscape, where investors
are eager to support innovative healthcare startups. This financial backing
accelerates the development and commercialization of next-generation diabetes
solutions.
Major companies operating in Global Next
Generation Diabetes Therapy and Drug Delivery Market are:
- Abbott Laboratories
- Dexcom Inc.
- Eli Lilly and Company
- Enteris BioPharma Inc. (Swk Holdings
Corporation)
- GlySens Incorporated
- MannKind Corporation
- Medtronic plc
- Sanofi S.A.
- Senseonics, Holdings
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“The Global Next Generation Diabetes Therapy and Drug
Delivery Market is poised for significant growth, driven by the increasing
prevalence of diabetes, technological advancements, personalized medicine,
rising healthcare expenditure, patient-centric care, regulatory support,
increasing awareness, and strategic collaborations. As the market continues to
evolve, patients can look forward to more effective, convenient, and
personalized diabetes management solutions that will ultimately improve their
quality of life.,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based management consulting firm.
“Next Generation Diabetes Therapy and Drug
Delivery Market By Product Type (Inhalable Insulin, Oral Insulin,
Insulin Patches, CGM Systems, Artificial Pancreas), By Indication (Type 1
diabetes, Type 2 diabetes), By End user (Diagnostic/Clinics,
Intensive Care Units (ICUs), Home Healthcare), By Region, By
Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of Global Next Generation Diabetes Therapy and Drug
Delivery Market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Next Generation
Diabetes Therapy and Drug Delivery Market.
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