The market for Insulin Delivery Devices Market is expected to reach USD$ XX in 2023.
Diabetes is one of the leading lifestyle diseases observed across the world. The key factors assisting the overall growth of the insulin delivery market are the mounting prevalence of diabetes and rising public awareness related to diabetes management and diagnostics. Insulin plays a vital role in the maintenance of sugar levels, along with the systematic execution of all other physiological and cellular actions.
The growing incidence of diabetes around the world is observed due to factors such as the increasing prevalence of obesity and the practice of a sedentary lifestyle in the working population. In addition, technological upgradation and superiority in the novel insulin delivery devices, such as insulin inhalers and portable insulin pumps, are also assisting the market growth of the insulin delivery devices market. Market experts also suggested that the disease incidence rate of diabetes is rapidly increasing, especially in children and adults, which is expected to be a boosting factor for the global insulin delivery devices industry in the near future.
On the basis of product type, the market for insulin delivery devices is segmented into jet injectors, syringes, pumps, and insulin pens. Insulin syringes are designed for self-administration of doses and have many user-friendly features, such as short needles, which reduce pain in patients. Insulin pens comprise an insulin cartridge, a dial, and a needle; they are primarily used with disposable needles for the delivery of insulin doses. The compact design of these devices allows the discreet administration of insulin.
The key drivers assisting the overall market growth of insulin delivery devices are increasing awareness related to diabetes management and mounting issues related to obesity, a sedentary lifestyle, and a lack of early diagnosis in developing countries. North America is the leading regional market for insulin delivery devices and is trailed by Europe due to the existence of a large number of people suffering from diabetes, and high hospital expenses are forcing diabetes patients to opt for self-injections for home use.
The U.S. attributed the largest share of the insulin delivery devices market due to rising patient inclination towards novel insulin delivery devices and supportive reimbursement scenarios. Other countries, such as Germany, France, the U.K., and Canada, are also witnessing high growth in the market. The Asia-Pacific insulin delivery devices market was observed as the fastest-growing region due to the presence of a large pool of diabetes patients and the rising accessibility of patients to novel technologies in insulin delivery.
Geography
Abbott Laboratories, Novo Nordisk A/S, Eli Lilly and Company, Medtronic, Inc., Sanofi S.A., Becton, Dickinson and Company, F. Hoffmann-La Roche, Ltd., Insulet Corporation, Ypsomed Holding AG, Animas Corporation, B. Braun Melsungen AG, and others
The market for Insulin Delivery Devices Market is expected to reach USD$ XX in 2023.
The Insulin Delivery Devices Market is expected to see significant CAGR growth over the coming years, at XX%.
The report is forecasted from 2016 -2023.
The base year of this report is 2015.
Abbott Laboratories, Novo Nordisk A/S, Eli Lilly and Company, Medtronic, Inc., Sanofi S.A., Becton, Dickinson and Company, F. Hoffmann-La Roche, Ltd. . are some of the major players in the global market.