The Insulin Delivery Devices Market report offers majority of the latest and newest industry data that covers the overall market situation along with future Assessment.
The Global Insulin Delivery Devices Market is valued at USD XX Billion in 2016 and is poised to reach USD XX Billion by 2022 growing at a CAGR of XX% during the forecast period. According to WHO, in 2015, an estimated 1.6 million deaths were directly caused by diabetes. WHO also projects that diabetes will be the seventh leading cause of death in 2030.
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Insulin is a peptide hormone secreted by beta cells of the pancreatic islets and the cells of the body to use glucose for energy. When there is excess glucose in the bloodstream, insulin increases the storage of glucose as glycogen and fat. Insulin is administered externally to patients suffering from diabetes, which is the medical condition when the body is unable to maintain its blood glucose level. Patients have to use one of the available insulin delivery devices to administer an insulin dose.
The growth drivers for the insulin device delivery market are the increasing prevalence of diabetes, the rise in geriatric population, an increase in obesity, propagation of diabetes management awareness and government impetus.
However, parallel factors like high cost of insulin, rising cost of insurance coverage, high competition and stringent regulations restrain the growth of the market.
Extensive availability of insulin delivery devices, their commoditization and increased awareness programs and campaigns about diabetes- its complications, long-term implications and treatment are the impact areas that can drive demand for insulin delivery devices.
The market for insulin delivery devices is segmented into insulin syringes, insulin pens, insulin pumps, and insulin jet injections. Each has its own USP – Insulin syringes are user-friendly and self-administrable, pens are compact in size and can be reusable, pumps are easily wearable by patients and jet injections are needleless. However, the market leader in terms of revenue is insulin pumps.
The insulin pen segment is further segmented into disposable and reusable pens in which the reusable segments commands maximum market share in 2016. The pump segment is further classified into tethered insulin pumps and disposable/patch insulin pumps with the tethered insulin pump segment enjoying a higher market share in 2016.
There is also a segmentation of insulin delivery devices into patients/homecare, hospitals and clinics. In 2016, the patients/homecare segment enjoyed the highest market share among the three.
In terms of geography, the Global Insulin Delivery Devices market is segmented into North America, Europe, Asia-Pacific and LAMEA (Latin America, Middle East & Africa). The market is dominated by North America due to the high prevalence of diabetes, technological advances in efficient insulin delivery and high adoption rate while Asia-Pacific, which accounts for nearly half of the world\’s population, has the fastest growing market for the insulin delivery devices.
Some of the major players in the market include Medtronic plc, Eli Lilly and Company, Becton, Dickinson and Company, Tandem Diabetes Care, Inc., Ypsomed Holding AG, F. Hoffmann-La Roche Ltd., Animas Corporation, Novo Nordisk A/S, B. Braun Melsungen AG, and Insulet Corporation, among others.
Regional analysis for Global Insulin Delivery Devices Market includes
- North America
- US and Canada
- Latin America
- Mexico, Brazil, Argentina and Rest of Latin America
- Western Europe
- EU5 (Germany, France, Italy, Spain, U.K.)
- Nordic Countries (Denmark, Finland, Norway, and Sweden)
- Benelux (Belgium, The Netherlands, and Luxembourg)
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- Australia and New Zealand
- Rest of Asia Pacific
- Middle East and Africa
- GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
- South Africa
- North Africa
- Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides in-depth market segmentation that is derived from extensive product mapping exercises, macro-economic factors and other qualitative and quantitative insights. The impact of all such factors are delivered across multiple market segments and geographies.
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