Market Trends of Italy Insulin Drugs And Delivery Devices Industry
Strategic Initiatives by the Government and Organizations are Growing
Increasing initiatives by the government and non-profit organizations to enhance the awareness and treatment accessibility of diabetes in the country are likely to boost market growth. For instance, the National Diabetes Plan is a guideline proposed by the government, emphasizing patient-centric care and setting the agenda and standards for diabetes care. However, its execution varies widely across the country's 20 regions, falling under the purview of local and regional authorities.
Under the National Diabetes Plan, type 1 diabetes patients receive essential diabetic supplies, such as insulin, at no cost. Patients are also required to visit an endocrinologist or general practitioner every 3-4 months. Additionally, clinics must provide specialized services, including nurses, dieticians, and psychologists.
Companies' strategic initiatives, such as regional expansions and innovative product launches, are set to propel the market鈥檚 growth. For instance, in November 2023, ViCentra, in partnership with Dexcom G6, introduced a cutting-edge hybrid closed-loop insulin system. ViCentra is expected to launch this innovative system in 2024, strategically emphasizing the Italian market. The resulting system functions as an artificial pancreas by merging ViCentra's Diabeloop DBLG1 algorithm with Dexcom's G6 monitor. Noteworthy features include self-learning abilities and a heightened focus on user convenience.
The combined efforts of government initiatives and corporate innovations are significantly enhancing diabetes care in Italy. This synergy is expected to drive market growth in the coming years.
The Insulin Pumps Segment is Expected to Witness Significant Growth Over the Forecast Period
The insulin pump market is poised to record significant growth during the forecast period.
An insulin pump administers insulin continuously or on demand. It serves as an alternative to daily injections or insulin pens. This method, known as insulin pump therapy, is widely accepted for managing type 1 diabetes (T1DM). These pumps offer near-physiological insulin delivery, compensating for the pancreas's inability to produce insulin. Some models even feature remote controls, allowing parents to manage insulin dosages from a distance, a boon when children are busy playing or eating. Compared to injections, insulin pumps lead to fewer blood glucose swings, less discomfort, and more precise dosing, underscoring their market appeal.
Recognizing these benefits, companies are integrating AI technology into insulin pumps, enhancing user-friendliness and promoting insulin usage. For instance, Medtronic Italia's Minimed Mobile App syncs an insulin pump with the user's smartphone, offering real-time pump data. The mobile application allows users to transfer and manage their pump data seamlessly.
Market players are bolstering their presence through innovative product launches. In August 2022, A. Menarini Diagnostics introduced GlucoMen Day PUMP in Europe鈥攁 tubeless, wearable, and disposable insulin pump. By 2023, the product had debuted in 17 countries, with an initial rollout in 10 countries, including Italy, in 2022.
The insulin pump market is on an upward growth trajectory that can be attributed to technological advancements and strategic product launches. These developments promise to enhance diabetes management and improve the quality of life for individuals with T1DM.
