Insulin Delivery Devices Market was valued US$ 13.45 Bn in 2019 and expected to reach US$ 18.76 Bn by 2024, at a Compound Annual Growth Rate (CAGR) of 6.2% during the forecast period 2016-2024. Insulin Delivery Devices Market1
Insulin delivery devices market is segmented into product type, distribution channel, and region. On the basis of product type, the market is divided into Pumps (Tubed Pumps, Tubeless Pumps), Pens (Reusable, Disposable), Pen Needles (Standard, Safety), Syringes. Based on distribution channel, a market is classified into Hospital Pharmacy, Retail Pharmacy, Online Sales, Diabetes Clinics/ Centers. Geographically, a market is spread by North America, Asia-Pacific, Latin America, Europe, Middle East & Africa.
Globally, an escalating prevalence of diabetes is the prominent reason behind Insulin Delivery Devices Market expansion. Owing to inappropriate eating habits and lack of physical work; diabetes incidences are rising at alarming rates in developing countries too. From the consumer’s side, usage complication and probability of injury due to injections have been resulting in a shift from invasive devices to minimally invasive ones. More and more minimally invasive devices are gaining demand around the globe, especially in developed nations. The insulin delivery devices market faces some peculiar challenges which have been and will continue to be hindering growth during the forecast period. Factors such as the prohibitive cost of insulin and insulin delivery devices, inconsistencies in adherence of insulin uptake and psychological resistances to self-injection due to needle-phobia are a major roadblock in Insulin Delivery Devices Market growth. Insulin Delivery Devices Market had the highest market in 2017. The need for better diabetes management will drive demand for the insulin pumps during the forecast period. Minimally invasive nature of pumps will increasingly attract more consumers over the coming years, especially in an industrialized nation; however, their cost will prove to be a major restraining factor for the business growth.
Increasing demand for insulin-delivering devices and minimally invasive alternatives such as pumps, advancements in insulin devices in terms of design and functioning, an increasing prevalence of diabetes and ease offered by some insulin delivery devices to patients are some of the major market growth driving factors observed worldwide.
North America Insulin Delivery Devices Market accounted for the highest revenue in 2017 and is projected to grow at a significant rate during the forecast period. U.S. insulin delivery devices market accounted for the highest regional share of more than 95% in 2017. Increasing diabetes prevalence coupled with rising disposable income level will drive market growth over the forecast period. Technological advances in insulin delivery devices along with favorable government initiatives to execute better diabetes management will further fuel industry growth.
key players operating market are Eli Lilly, Sanofi, Novo Nordisk, Beckton and Dickenson, Roche, Medtronic, Insulet Corporation, Ypsomed, Tandem Diabetes Care, Inc., Animas Corporation, B. Braun Melsungen AG, Johnson & Johnson, Medtrum Technologies, Cellnova, Roche Holdings, Spring Health Solutions, Debiotech, CeQur, Valeritas Holding, Abbott Diabetes Care
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Scope of Global Insulin Delivery Devices Market :
Global Insulin Delivery Devices Market By Product Type:
• Pumps (Tubed Pumps, Tubeless Pumps)
• Pens (Reusable, Disposable)
• Pen Needles (Standard, Safety)
Global Insulin Delivery Devices Market by Distribution Channel:
• Hospital Pharmacy
• Retail Pharmacy
• Online Sales
• Diabetes Clinics/ Centers
Global Insulin Delivery Devices Market By Geography:
• North America
• Asia Pacific
• Middle East & & Africa
• Latin America
Global Insulin Delivery Devices Market Key Players:
• Eli Lilly
• Novo Nordisk
• Beckton and Dickenson
• Insulet Corporation
• Tandem Diabetes Care, Inc.
• Animas Corporation
• B. Braun Melsungen AG
• Johnson & Johnson
• Medtrum Technologies
• Roche Holdings
• Spring Health Solutions
• Valeritas Holding
• Abbott Diabetes Care
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