The global insulin delivery devices market reached USD 9,367.9million in 2017 and is projected to reach USD 14,198.3 million by 2025, growing at an estimated CAGR of 5.4% during the forecast period. The key factors boosting the market growth are increasing incidence of diabetic patients, growing awareness among the patients about the disease, growing prevalence of obesity, change in lifestyle and widespread availability of various insulin delivery devices.
Moreover, increasing adoption of insulin delivery devices by patients, growing incidence of metabolic disorder, rising technological advancement and improved healthcare facilities across the globe have led to the burgeoning market growth of insulin delivery devices.
Insulin pump product type dominated the market in 2017 with one-third of market share and is expected to dominate the global insulin delivery devices market during the forecast period. However, insulin pens are anticipated to witness the fastest growth in the coming years on account of growing adoption among healthcare professionals and patients due to its characteristics of high accuracy and advanced properties.
Rising awareness of technologically advanced devices among patients, increasing research & developments activities by market players coupled with technologically advancements in insulin pens and Insulin pumps are likely to spur the growth of global insulin delivery devices market in future.
“Leading firms in the insulin delivery market are consistently spending on research & development activities to maintain leadership in technological innovation. For instance, in July 2018, Roche received CE mark for its Accu Chek Solo micropump system and will launch the micropump in coming months for the diabetes patient around the globe. The insulin delivery device market is witnessing a significant growth rate in North America due to the rising technological advancements and rise in the diabetic population.”
In 2017, Asia Pacific dominated the global insulin delivery devices market, owing to, the factors such as large patient pool, high adoption of technology, high volume of homecare setting procedures and growth in medical tourism. North America is one of the fastest growing regions for insulin delivery device market and is predicted to grow at the fastest rate during the forecast period.
• In 2017, the homecare setting held more than three – fourths of the market share
• Roche Ltd, Becton and Novo Nordisk, and Medtronic are the leading players holding approximately around one-third of the market share
• The insulin pens are anticipated to grow at the highest rate during the forecast period from 2018 to 2025
• In 2017, Asia Pacific dominated the global insulin delivery devices market
Some of the key players operating in the global insulin delivery devices market include Abbott Laboratories, Ypsomad Holding AG, Hoffmann-La Roche Ltd, Terumo Corporation, Insulet Corporation, Medtronic, Animas Corporation, Becton, Dickinson and Company, Dexcom, Inc., Sanofi and others.
The global insulin delivery devices market has been segmented on the basis of product type, end-user and key geographies. Based on product type, the global insulin delivery devices market comprises of insulin syringes, insulin pens, insulin pumps and insulin jet injectors. The end user segment includes, homecare setting, hospitals and others.
The research report “global insulin delivery devices market” provides in-depth analysis of the insulin delivery devices market across the globe, based on product type, end users and major geographies for the forecast period from 2018 to 2025. The report highlights the major market drivers propelling the growth as well as challenges faced by the market participants. The research report also provides market size and forecast for insulin delivery devices market. The report also analyses the competitive landscape, major players and their strategies in 2018. The competitive landscape section of the report captures and highlights the recent developments in the market.
For more details, browse the Table of Contents: https://www.gmiresearch.com/report/global-insulin-delivery-devices-market-syringe-pen-pump-end-user-share-trends-opportunities-forecast-insights.html
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