Insulin Delivery Devices Market | Global Share, Trend Analysis Report

Insulin is a necessary element for the treatment of for the type 1 and type 2 diabetic patients. It cannot be taken as a pill or a swallowed liquid, as it is easily broken down by the digestive system before reaching the bloodstream. Insulin is mostly injected or infused into the fatty tissue under the skin. There are diverse types of insulin delivery devices including syringes, insulin pens, jet injectors, and insulin pumps. The choice or selection of the device is done based on type of patient, insulin regimen, ability to manipulate or operate a device and visual ability. The global insulin delivery devices market is estimated and forecasted in terms of revenue (USD million) generated by the market. The insulin delivery devices market is primarily driven by rising diabetic population and increasing number of geriatric and obesity population. Technological advancements in the insulin delivery devices globally coupled with rising consumer awareness towards maintaining healthy lifestyle are factors that are anticipated to fuel the global insulin delivery devices market. However, excessive cost associated with insulin delivery devices and issues associated with the reuse of pen needles and infusion sets are the major factor hindering the growth of the market. The report analyses the global insulin delivery devices market by type into pens, insulin pumps, pen needles and insulin syringes and other. Other including insulin jet injectors. The pen segment is further segmented into reusable insulin pens and disposable insulin pens. Insulin pumps are sub segmented into external/tethered pumps and patch pumps. Additionally, pen needles segment is further bifurcated into standard pen needles and safety pen needles. The insulin pen segment dominated the market in 2017 and is estimated to account for highest CAGR, owing to easy availability and low cost of pen segment. Moreover, the patch pumps segment is expected to gain substantial growth in near future. Based on end users, the insulin delivery devices market is bifurcated into patients/homecare and hospitals & clinics. The patients/homecare segment is expected to hold larger market share of the global insulin delivery devices market during the forecast period. The increasing prevalence of diabetic population and development and innovation of products suitable for homecare use are the major factor leading to the growth of the patient/ homecare segment. By geography, the global insulin deliver delivery market is studied across the countries of key regions such as, North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America accounted for the largest share in the insulin delivery devices market in 2017, whereas Asia Pacific region is projected to be the fastest region. The largest share of the market is attributed to well-defined reimbursement policies and growing awareness related to diabetic disorders in the developed and developing countries. Some of the key participants of the global insulin delivery devices market are N Becton, Dickinson and Company, Novo Nordisk A/S, Medtronic, Sanofi, ELI Lilly and Company, Ypsomed AG, Animas Corporation, Tandem Diabetes Care, Inc, Insulet Corporation, Biocon, B. Braun Melsungen AG. New product launches and research & development are the key growth strategies adopted by major players to reinforce their positions in the international market.