Frequently Asked Question:
The global Insulin delivery devices market was valued at USD 13.8 Billion in 2022.
The Insulin delivery devices market is expected to grow at a CAGR of 7.80% between 2023 and 2030, reaching USD 23.34588879 Billion in 2030.
Insulin pens are the leading segment by product type, holding around half of the share in value in 2022.
The Homecare segment governs the demand for Insulin delivery devices worldwide, holding a massive share of nearly 25% in 2022.
The Insulin syringes & Insulin pumps segment is expected to post the highest CAGR during the forecast period.
Europe is fueling the growth of the Insulin delivery devices industry, with nearly two-fifth share in 2022.
The top players include Novo Nordisk A/S, Sanofi, Eli Lilly and Company, Biocon Ltd., Ypsomed AG, Wockhardt Ltd., Medtronic, Abbott Laboratories, F. Hoffmann-La Roche, Ltd.
The rising prevalence of diabetes globally & growing emphasis on patient-centric care are the major market drivers.
Socioeconomic disparities and uneven access to healthcare services & affordability challenges in low and middle-income countries are the major restraints of insulin delivery devices industry.
The integration of advanced technologies such as artificial intelligence (AI), machine learning, and the Internet of Things (IoT) & emergence of wearable devices and CGM systems are the opportunities for the insulin delivery devices industry.