Global Insulin Delivery Devices Market to Expand at 6.9% CAGR during 2016-2020
The global insulin delivery devices market has been evaluated as steadily growing market. Globally, insulin delivery device is witnessing growth due to increase in prevalence of diabetes. With the increase in number of geriatric population, rising awareness of diabetes and technological advancement in delivery device are driving the growth of the market. Moreover, risk factors of type 2 diabetes and high blood pressure are increasing steadily with rise in prevalence of obesity. Nevertheless, due to the high cost of insulin and hazards and risks associated with delivery devices are inhibiting the growth of the market. Insulin is administered with the help of various delivery devices such as insulin pumps, pen injectors, insulin syringe and jet injectors. Most commonly used delivery system for self-medication purposes are Insulin syringes. However, some patient’s insulin syringe is not convenient option, which results in the development of other devices for the treatment of diabetes. global market for insulin delivery devices is growing rapidly and expected to reach USD 14.21 Billion by the end of 2020
With the increasing prevalence of diabetes, rising obesity endemic, increasing awareness among people about diabetic care and technological advancement in delivery devices are some of the factors influencing the growth of the insulin delivery device market. However, hazards and risks associated with delivery devices and high cost of insulin are inhibiting the growth of the insulin delivery device market. The prevalence of home infusion therapy and artificial pancreas are the major trends in insulin delivery devices market.
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North America dominates the global insulin delivery devices market due to rise in aging population and increasing prevalence of diabetes. On the other hand, Asia Pacific is expected to be the fastest growing region due to rising awareness of diabetic care and increasing healthcare expenditure. Globally, insulin syringe has captured the largest market share in insulin delivery devices market as it is a convenient mode of insulin administration. However, insulin pump is the fastest growing segment in the insulin delivery device market due to technological advancements in insulin pumps to maintain the level of insulin in the body for diabetic patients.
Key Players for Insulin Delivery Devices Market:
- F. Hoffmann-La Roche,
- Eli Lilly and Company,
- Medtronic, Inc,
- Novo Nordisk A/S and Becton,
- Dickinson and Company,
- B. Braun Melsungen AG,
- Animas Corporation,
- Ypsomed Holdings AG,
- Insulet Corporation.
Insulin delivery devices market has been segmented on the basis of type which comprises of Insulin Syringe, Insulin Pumps, Insulin Pens, and Insulin Jet Injectors.
Depending on geographic region, insulin delivery devices market is segmented into four key regions which are North America, Europe, Asia Pacific, and Rest of World. Globally North America has captured the maximum market share for insulin delivery devices. The North America market for insulin delivery devices is expected to grow at CAGR 6.7% during the forecasted period. Europe is ranked as the second-largest market for insulin delivery devices which is expected to grow at a CAGR of 7.1%. Whereas, Asia pacific region is anticipated to be the fastest growing region in insulin delivery devices market.
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Table of Content
1. Research Scope and Methodology 11
1.1 Market Definition 11
1.2 Market Breakdown by Type 11
1.3 Market Breakdown by Geography 11
1.4 Research Methodology and Sources 12
2. Executive Summary 14
2.1 Key Findings 14
2.2 Research Summary 14
3. Market Outlook 16
3.1 Introduction 16
3.2 Trends in the Market 18
3.2.1 Home infusion therapy is achieving significance in the treatment
of diabetes 18
3.2.2 Artificial pancreas is gaining popularity in the insulin delivery
device market 18
3.3 Factors Driving the Market and its Impact on Market Forecast 19
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