The global insulin delivery devices market was valued at USD 9,367.9 million in 2017 and is projected to reach USD 14,198.3million by 2025, growing at a CAGR of 5.4% during 2018–2025.
Figure 1: Global Insulin Delivery Devices Market Revenue, 2018–2025 (USD Million)
Source: GMI Research
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.
Insulin pump product type dominated the market in 2017
Diabetes is the most pressing health priority, globally which affects a large population each year. For example, according to IDF seventh Edition, in 2015, approximately 29.6 million of the adult population suffered from diabetes in the South and Central America regions of which about 39.0% of them were undiagnosed. The first WHO global report on diabetes demonstrates that the number of adults living with diabetes has almost quadrupled since 1980 to 422 million adults.
Insulin is important for patients suffering from type 1 diabetes and type 2 diabetes. In the past, patients having diabetes had to inject insulin into their blood by using large glass syringes and reusable needles, both of which needed sterilization by boiling after each use. Improvements and innovations have led to development of insulin delivery devices, such as pens and insulin pumps. 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.
Figure 2: Global Insulin Delivery Devices Market Revenue, by Region, 2017
Source: GMI Research
Asia-Pacific is expected to hold the largest share in the market, followed by North America owing to the reimbursement facilities and presence of large number of companies that are investing in research and development to expand their product portfolio. Favourable government policies, improvement in the healthcare infrastructure, and private funding in emerging economies of Asia-Pacific and LAMEA are expected to boost the market growth in the coming years.
Various notable players operating in global insulin delivery devices market include Abbott Laboratories, Ypsomad Holding AG, F. 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 market comprises of insulin syringes, insulin pens, insulin pumps and insulin jet injectors. The end user segment includes, home care setting, hospitals and others. This 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 user 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 market participants. The research report 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 development in the market.
Key questions answered in this research report:
1. At what pace is the insulin delivery devices market growing, globally? What will be growth trend in future?
2. What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the future?
3. What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the insulin delivery devices market?
4. What are the various application areas and how they are poised to grow?
For Additional Insights Click to Access Complete Report –https://www.gmiresearch.com/report/global-insulin-delivery-devices-market-syringe-pen-pump-injector/
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