- Report ID: BMRC 518 | Number of pages: 198 | Publish Date: Jan 2020
Status: Published | Category: Healthcare | Delivery Timeline:
Insulin Delivery Devices Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2019-2025- Increasing geriatric population is the key factor driving the growth of Global Insulin Delivery Devices Market.
Insulin Delivery Devices Market is valued at USD 11683.2 Million in 2018 and expected to reach USD 19007.5 Million by 2025 with CAGR of 7.2% over the forecast period.
Insulin is a necessary part of the treatment plan for all people with Type 1 diabetes and many with Type 2. Insulin helps get glucose from the bloodstream into the muscle and fat cells to be used for fuel. It cannot be taken as a pill or a swallowed liquid, because it would be broken down by the digestive system before it reached the bloodstream, where insulin does its work. Thus, insulin is injected or infused into the fatty tissue under the skin. Insulin therapy is used for treatment of people with type 1 diabetes in order to avoid complications arising from hyperglycemia. Insulin is regulated, mainly by subcutaneous insulin injections like vials and syringes, insulin pens, and insulin pumps. In addition to this, various other physiological minimally invasive or noninvasive ways for delivering insulin are oral, buccal, nasal, peritoneal and transdermal.
Insulin delivery devices market report is segmented on the basis of type, distribution channel, end-user and region & country level. Based upon type, global insulin delivery devices market is segmented into insulin syringe, insulin pens, insulin jet injectors, insulin pumps, insulin needles and insulin inhalers. On the basis of distribution channel, market is segmented into hospital pharmacies, retail pharmacies and online pharmacies. Based on end-user, global insulin delivery devices market is segmented into hospital, clinic, ambulatory care centers and home care.
The regions covered in this Insulin Delivery Devices Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of Insulin Delivery Devices is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
Some major key players for Insulin Delivery Devices Market are 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, Insulet Corporation and others.
The major factors driving the growth of global insulin device delivery market are the increasing prevalence of diabetes, rising geriatric population, an increase in stoutness, propagation of diabetes management awareness and government propulsion. According to World Health Organization (WHO), the number of people with diabetes are increased from 108 million in 1980 to 422 million in 2014. The global prevalence of diabetes among adults over 18 years of age has risen from 4.7% in 1980 to 8.5% in 2014. Stoutness plays an important role in the growth of the insulin delivery device market. Stoutness is caused due to diet imbalance, junk food leading to various risk factors for diabetes, high blood pressure, heart disease and others. Increasing awareness about advanced insulin delivery devices among diabetic patients will also augment the demand for insulin delivering devices. The advance methods for insulin delivery incorporate minimum trespassing in an enhanced manner, lower patients’ burden will positively affect the market growth over the upcoming period.
However, corresponding factors like high cost of insulin, rising cost of insurance coverage, needle-phobia of many individuals, uncompromising rules & regulation, high cost of insulin pumps, R&D activity cost, regulatory pressure and technological issues these are some factor which may hamper the growth of market. Moreover, initiatives taken by various governments and non-government organizations to increase awareness regarding insulin devices and quick advancements in the technology can be the opportunities for further growth of the market.
The Insulin Delivery Devices Market is segmented into North America, Europe, Asia-Pacific, Latin America and Africa. The North America is expected to capture the largest share of global insulin delivery devices market owing to the increasing pervasiveness of diabetes and a well-developed healthcare sector. According to Canadian Statistics, in the year 2017, 7.3% of Canadians people aged between 12 and older (roughly 2.3 million people) reported being diagnosed with diabetes. Between 2016 and 2017, the percentage of males who reported being diagnosed with diabetes escalates from 7.6% in 2016 to 8.4% in 2017.The percentage of females remained consistent between the two years. On the other hand, the Middle East & Africa is expected to observe slow growth due to less exposure to healthcare services, lack of awareness, and stringent government rules and regulations.
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Insulin Delivery Devices Market Size, Share, Business Stats, Growth perspective and Forecast 2020-2025