Global market for insulin delivery devices was valued at US$ 10.16 Bn and is expected to reach a value of about US$ 21 Bn by the end of 2025. According to the research report on the global market for insulin delivery devices, the global market is anticipated to register a high CAGR of 8.6% throughout the period of forecast 2017-2025.
Albany, NY -- (SBWIRE) -- 09/18/2017 -- The insulin delivery devices market has been experiencing substantial development and is poised to grow across important geographies in the coming years. Market Research Report Search Engine (MRRSE) has included in its research repository, a market research study titled "Insulin Delivery Devices Market: Global industry Analysis, Opportunities, Drivers, Trends, Share and Forecasts 2017-2025". This research report covers various opportunities and trends influencing the global insulin delivery devices market in the 2017-2025 period. Also discussed in this research report are the main challenges, threats and drivers that fuel the growth of the global market for insulin delivery devices, which gives a clear understanding about the market growth trajectory during the period of assessment. A detailed segmentation of the global market for insulin delivery devices enables in-depth market estimations based on both volume and value prognoses over the eight year period.
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Rising prevalence of diabetes and obesity across the globe is a key factor driving the growth of the global market for insulin delivery devices. Medical science has developed to greater heights due to advancements in technology. This has introduced several products and techniques to cure diseases. Advanced insulin delivery devices eliminate the limitations of traditional devices such as pain, incision and long treatment time. Programs about diabetes and its ill effects have triggered greater awareness among urban and rural people, which has contributed to the growth of the global market for insulin delivery devices. Government support in certain regions has also contributed to the growth in revenue of the global market for insulin delivery devices.
Global market for insulin delivery devices: Segmental Highlights
The global market for insulin delivery devices is segmented by product type (insulin syringe, insulin pens, insulin pumps and others), by distribution channel (hospital pharmacy, online sales, retail pharmacy and diabetes clinics/centers) and by geography (North America, Europe, Latin America, Asia Pacific and Middle East and Africa).
Insulin pens segment by product type reflected a market share of about 42% in 2016 and is expected to remain the most profitable segment during the period of forecast. Growth of this segment can be attributed to a high consumption of insulin pens in regions with a huge population. Moreover, they are reusable and compact in size
North America is poised to be a potential growth region with respect to the consumption of insulin delivery devices as it served maximum demand of patients suffering from diabetes in 2016, especially in the United States
Europe is anticipated to be the second most profitable region in terms of demand and consumption of insulin delivery devices
The highly populated region of Asia Pacific is considered to be the most lucrative region, profitable for the growth of the insulin delivery devices market, owing to greater demand for insulin delivery devices in countries such as China and India
According to market observations, about 90% of patients suffering from diabetes in Europe and Asia Pacific use insulin pens
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In 2016, the global market for insulin delivery devices was valued at US$ 10.16 Bn and is expected to reach a value of about US$ 21 Bn by the end of 2025. According to the research report on the global market for insulin delivery devices, the global market is anticipated to register a high CAGR of 8.6% throughout the period of forecast 2017-2025.
Global market for insulin delivery devices: Competition Scenario
The research report on the global market for insulin delivery devices has profiled important players involved in the insulin delivery devices market. To name a few – Tandem Diabetes Care, Inc., Animas Corporation (acquired by Johnson & Johnson), Cellnovo Group SA., Owen Mumford Ltd., Biocon Ltd., Becton Dickinson and Company, F. Hoffmann-La Roche Ltd., Medtronic plc., Sanofi S.A., Eli Lilly and Company, Novo Nordisk A/S and B. Braun Melsungen AG.
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