Insulin Delivery Devices Market size to exceed $20bn by 2025

Insulin Delivery Devices Market size is set to exceed USD 20.0 billion by 2025; according to a new research report by Global Market Insights.
 

Diabetes is a chronic disease that affects a large percentage of the population globally. According to the International Diabetes Federation (IDF), in 2017, nearly 425 million adults suffered from diabetes and this number is anticipated to reach upto 629 million by 2045. The continual upward shift observed in the incidence of diabetes will drive the insulin delivery devices market growth.


 

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Surge in the adoption of technologically advanced diabetes treatment products coupled with growing patient awareness about diabetes care is expected to be major driving factors that will foster the insulin delivery devices industry in the upcoming period. For instance, in February 2019, the U.S. FDA permitted marketing approval to t:Slim X2 insulin pump developed by Tandem Diabetes Care company. This device designed for children and adults suffering with diabetes uses interoperable technology to deliver insulin under the skin. Such advancements elevate the product adoption rate, thereby fueling diabetes treatment industry growth.
 

However, high cost of devices may restrain the industry expansion, especially in low-middle income countries. Furthermore, complication and risks associated with the delivery of insulin may impede the demand for insulin delivery devices to a certain extent over the analysis period.
 

Insulin Delivery Devices Market

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Insulin syringes segment will witness 5.1% CAGR over the projected timeframe. Insulin syringes can be used to deliver insulin directly into the layer of fat below the skin, reducing the number of dosing steps by ensuring the correct dose to the patient. Additionally, these devices are user-friendly, self-administrable, cost-effective and comfortable that are designed with the latest improvements in insulin delivery technique, further boosting the segmental growth in the coming years.
 

Browse key industry insights spread across 156 pages with 208 market data tables & 8 figures & charts from the report, “Insulin Delivery Devices Market Size By Product (Pumps {Tubed Pumps, Tubeless/Patch Pumps}, Pens {Reusable, Disposable}, Pen Needles {Standard, Safety}, Syringes), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, Japan, India, South Korea, Australia, Brazil, Mexico, South Africa, Saudi Arabia), Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/insulin-delivery-devices-market
 

U.S. insulin delivery devices market is estimated to exceed USD 7.0 billion by 2025. Rising adoption of sedentary lifestyle, growing diabetic population and availability of technologically advanced devices are some of the factors contributing to the high revenue share of the country. Additionally, presence of well-developed healthcare infrastructure, availability of favorable reimbursement policies and accessibility to all major insulin delivery devices will stimulate the market growth during the estimation period.    
 

Brazil market is anticipated to expand at 10.1% CAGR during the analysis period. Rapid growth is attributed to large patient population and growing awareness among the population about the availability of various insulin delivery devices in the country. Moreover, presence of major players such as Abbott, Johnson and Johnson, and Sanofi will further accelerate Brazil market growth over the projected timeframe.
 

Some of the notable players operating in the insulin delivery devices market are Sanofi, Eli Lilly, Becton, Dickinson and Company (BD), Novo Nordisk, Roche, Ypsomed, and Insulet Corporation, among others. Key strategies implemented by these industry players include innovative product launch, partnerships, and mergers & acquisitions with other participants to enhance their market footprint and achieve significant market share. For instance, in June 2019, Medtronic announced a partnership with Tidepool to create loop-supported, interoperable automated insulin pump system. Such strategic partnerships with other pharmaceutical firms will boost company’s business expansion.
 

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Insulin delivery devices market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2014 to 2025, for the following segments:

Insulin Delivery Devices Market, by Product, 2014-2025 (USD Million) 

  • Pumps
    • Tubed
    • Tubeless/Patch
  • Pens
    • Reusable
    • Disposable
  • Pen Needles
    • Standard
    • Safety
  • Syringes
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • UK
    • Spain
    • Italy
    • Spain
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • South Africa
    • Saudi Arabia

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