South Korea Insulin Delivery Devices Market Overview, 2028

South Korea Insulin Delivery Devices Market Overview, 2028

Diabetes has been on the rise globally, and South Korea is no exception. An increasing number of people diagnosed with diabetes leads to a higher demand for insulin and related delivery devices. South Korea has an aging population, and diabetes is more prevalent among older individuals. As the population ages, the incidence of diabetes tends to increase, driving the demand for insulin and associated delivery devices. The continuous advancement in insulin delivery device technology has likely contributed to the market growth. Newer devices that offer better precision ease of use, and improved patient outcomes may be gaining popularity. Efforts to raise awareness about diabetes and its management, as well as educating both healthcare professionals and patients about the importance of proper insulin delivery, could be playing a role in the growth of the market. A well-developed healthcare system that supports the management of chronic conditions like diabetes, including access to insulin and related devices, can contribute to market growth. Improved access to healthcare services, including diabetes diagnosis, treatment, and management, can contribute to the growth of the insulin delivery devices market. If more individuals have access to healthcare facilities and can afford necessary treatments, the demand for insulin and delivery devices is likely to increase. The growing emphasis on patient empowerment and self-care may be driving individuals with diabetes to actively manage their condition. Insulin delivery devices that empower patients to take control of their treatment may see increased adoption. The integration of digital health technologies and connectivity features in insulin delivery devices may attract tech-savvy individuals. Devices that offer features such as data tracking, remote monitoring, and connectivity with mobile apps could see increased demand.

According to the research report ""South Korea Insulin Delivery Devices Market Overview, 2028,"" published by Bonafide Research, the South Korea Insulin Delivery Devices market is predicted to add more than USD 150 Million from 2023 to 2028. The insulin delivery devices market has seen continuous technological advancements. This includes the development of smart insulin pens, insulin pumps with integrated continuous glucose monitoring (CGM) systems, and other connected devices. These technologies aim to enhance precision, ease of use, and patient adherence. Integration with digital health platforms and mobile applications is becoming increasingly common. These features enable users to track insulin dosages, monitor glucose levels, and share data with healthcare providers. The integration of digital solutions aims to improve overall diabetes management and patient outcomes. Connectivity features in insulin delivery devices, such as Bluetooth and Wi-Fi capabilities, enable remote monitoring by healthcare providers and caregivers. This trend aligns with the broader movement towards telemedicine and remote healthcare management. The integration of artificial intelligence in diabetes management is a growing trend. AI can analyse patient data, predict glucose patterns, and provide personalized recommendations for insulin dosing. Insulin delivery devices with AI capabilities may gain traction as technology continues to advance. Closed-loop insulin delivery systems, also known as artificial pancreas systems, are gaining attention. These systems automatically adjust insulin delivery based on real-time glucose monitoring, providing a more automated and responsive approach to diabetes management. The integration of insulin delivery devices with mobile health applications continues to grow. These apps can assist users in tracking blood glucose levels, managing insulin doses, and providing educational resources. The convenience of managing diabetes through smartphones may contribute to the popularity of such integrated solutions.

In terms of product market in bifurcated into insulin pens, insulin pumps, insulin pen needles, insulin syringes and others insulin delivery devices (insulin transdermal patches, insulin inhalers, insulin jet injection). Among them insulin pumps product is expected to grow at significant pace in South Korea insulin delivery devices market. Insulin pump technology is evolving, with features such as automated insulin delivery, integration with continuous glucose monitoring (CGM) systems, improved user interfaces, and smaller form factors becoming available. These advancements improve insulin pump performance, accuracy, and user experience, making them more desirable to patients and healthcare providers. Insulin pumps provide accurate modifications to basal rates and bolus dosages by allowing for highly customised insulin delivery profiles. This dose flexibility corresponds to individualised treatment demands, particularly for patients with changing insulin requirements throughout the day, such as those with type 1 diabetes. Closed-loop systems, also known as hybrid closed-loop or artificial pancreas systems are formed by the integration of insulin pumps and CGM devices. This interface enables automated insulin delivery modifications based on real-time glucose measurements, enhancing precision and reducing the burden of constant glucose monitoring and manual insulin adjustments.

Based on end user segment market is segmented into home care, hospitals and clinics and others. Hospitals and clinics end user segment is expected to grow at rapid pace in South Korea insulin delivery devices market. Diabetes care is becoming increasingly important in hospitals and clinics. They are combining modern technologies, such as insulin delivery devices, to improve diabetes treatment outcomes. In order to improve patient outcomes, healthcare facilities pursue sophisticated treatment approaches. Insulin delivery devices, particularly pumps and integrated systems, are responding to this demand by providing more complex and precise insulin administration alternatives in clinical settings. Diabetes is managed in hospitals in inpatient settings, which necessitates accurate insulin dose and management. Insulin pumps and sophisticated delivery systems are critical in providing continuous and accurate insulin delivery to hospitalised patients, guaranteeing optimal glycemic control during their stay. The indication segment of the market includes diabetes, pregnancy, cardiovascular disorders & hypertension, respiratory diseases, hearing disorders, cancer, movement disorders, wound care and other indications (sleep disorders, kidney disorders, neurovascular diseases, and HIV). Among them diabetes indication is major consumer of insulin delivery devices in South Korea. Diabetes is a significant public health issue in South Korea. According to the International Diabetes Federation (IDF), approximately 3 million individuals in South Korea have diabetes, Diabetes is classified into two types: type 1 diabetes and type 2 diabetes. Type 1 diabetes is an autoimmune illness in which the body attacks and destroys insulin-producing cells. The most prevalent kind of diabetes is type 2 diabetes, which is frequently caused by lifestyle factors such as obesity and a lack of exercise.

Considered in this report:
• Geography: South Korea
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report:
• South Korea Insulin Delivery Devices market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Product
• Insulin Pens
• Insulin Pumps
• Insulin Pen Needles
• Insulin Syringes
• Others Insulin Delivery Devices (Insulin transdermal patches, insulin inhalers, insulin jet injection)

By Indication
• Diabetes
• Pregnancy
• Cardiovascular Disorders & Hypertension
• Respiratory Diseases
• Hearing Disorders
• Cancer
• Movement Disorders
• Wound Care

By End User
• Home Care
• Hospitals & Clinics
• Others

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience:
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Insulin Delivery Devices industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.