Insulin Delivery Devices Market Delivering a High CAGR Growth of 7.9% Majorly Driven Globally By Safety Concerns Till 2020
Jun 14, 2019
The Insulin Delivery Devices Industry report published by Market Research Future focuses on the latest trends in the Global and regional spaces on all the significant components with forecast 2020, including the cost, price, technology, supplies, production, profit, and competition.
Pune, Maharashtra - June 14, 2019 /MarketersMedia/ —
Insulin Delivery Devices are used for titrated and accurate delivery of insulin. Diabetes type I being a chronic disease requires a lifelong treatment with insulin which has resulted in the development of less painful and less invasive delivery systems.
The growth of the insulin delivery market can be attributed to factors such as high returns on investment, favorable reimbursement scenario, demand for non-invasive delivery systems, technological advancements in insulin delivery devices, growing diabetic population, rising awareness and others. The constraining factors are cost of the insulin delivery devices, presence of low-cost manufacturers especially China and others.
The Global Insulin Delivery Devices Market and is expected to reach $14.21 billion by 2020, growing at an impressive rate of 7.9 % CAGR.
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Insulin Delivery Devices Market - Key Players
Some of the key players in this market are:
Hoffmann-La Roche
Eli Lilly and Company
Sanofi
Medtronic, Inc
Novo Nordisk A/S
Becton, Dickinson and Company
Braun Melsungen AG
Animas Corporation
Ypsomed Holdings AG
Insulet Corporation
Industry/ Innovation/ Related News:
December 14, 2018
Eli Lilly and Company (US), a leading global pharmaceutical company announced its expanded collaboration with Evidation Health, Inc. (US), a technology company involved in the development of digital tools and technologies especially for the healthcare industry. The collaboration with a multi-year agreement will provide Lilly with global access to Evidation's Andromeda data platform to analyze the data through Smartphones & Connected Sensors.
Studying Evidation's data platform will help Lilly to analyze data from continuous glucose monitors, insulin pumps, and real-world information to build a connected ecosystem that includes an automated insulin delivery device and connected insulin pen.
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Insulin Delivery Devices Market – Segments
The MRFR analysis is segmented into two key dynamics for the convenience of understanding;
By Type: Insulin Syringe, Insulin Pumps, Insulin Pens, Insulin Jet Injectors and others (jet injectors, transdermal patches, and inhalers).
By Regions: Europe, North America, Asia Pacific, and the Rest-of-the-World (RoW).
Insulin Delivery Devices Market - Regional analysis
The developed regions of North America and Europe are expected to lead the insulin delivery market. The U.S is expected to lead the world due to its higher per capita income and its faster uptake of technology. U.S. also spends a higher GDP on its healthcare which accounts to a whopping 16% in 2016.
Europe is expected to be led by Germany due to presence of its large medical device industry. However, it has to be noted that southern Europe has a higher prevalence of diabetes. Countries such as Spain, Italy and Portugal are expected to have a higher growth of the insulin delivery devices market. Another nation which has a large unserved market is Turkey.
However, the market is expected to shift towards the developing regions of Asian Pacific in the near future. The Asia pacific region is expected to be led by India. India is called the diabetes capital of the world with as many as 50 million diabetes patients. Of the two types of diabetes India has a greater number of patients with type-2 diabetes. India has also witnessing an alarming rise in incidence of diabetes. The World Health Organizations estimates the global burden of type-2 diabetes to increase to 438 million by 2030 from 285 million people. For the diabetes treatment players in India this means a pie of 87 million patients in 2030. Other Asia Pacific nations expected to drive growth in the future are Vietnam, Indonesia and China.
Insulin Delivery Devices Market - Key Finding
The Insulin Delivery Devices Market and is expected to reach $14.21 billion by 2020.
Insulin syringe hold the largest share of the market.
Globally, Asia-Pacific the fastest growing region and expected to grow at the rate of 7.9% during the forecast period.
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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Source: MarketersMedia
Release ID: 524517
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