Diabetes is a chronic disease caused due to insufficient production or inappropriate use of insulin in the body. It is a collection of diseases characterized by elevated blood glucose level. It is mainly of two types namely, Type 1 and Type 2 diabetes. Type 1 is caused due to lack of insulin, whereas Type 2 diabetes is caused due to the futile use of insulin.
Globally, insulin delivery device is witnessing growth primarily due to increase in the prevalence of diabetes. The rise in the geriatric population, growing awareness of diabetes and technological advancement in the delivery device are also driving the growth of the market. In addition, risk factors for Type 2 diabetes and high blood pressure are increasing steadily with the rise in obesity. However, the high cost of insulin and the risks associated with delivery devices are inhibiting the growth of the market.
The global insulin delivery devices market is expected to reach USD 14.2 billion by 2020 at a CAGR of 6.9% during the forecast period.
On the basis of types, insulin delivery devices market has been segmented into insulin syringe, insulin pump, insulin pen, insulin jet injectors, and others. Insulin syringe segment has had the largest market share of global insulin delivery devices in 2016, registering $3.5 billion revenue or the year. The Insulin pumps segment is anticipated to grow at the highest CAGR of 7.5% during the forecast period.
On the basis of geography, the market has been subdivided into North America, Europe, Asia, and Rest of the World. North America commanded the largest market share of around 43% in 2015, while Asian region is expected to register the fastest growing CAGR of 7.3% during the forecast period.
The leading market players in the global insulin delivery devices market include are Novo Nordisk A/S (Denmark), Eli Lily and Company (U.S.), Medtronic, Inc. (Ireland), Becton, Dickinson and Company (U.S.), Sanofi (France), and F. Hoffmann-La Roche. (Switzerland).
• To provide insights about factors influencing and affecting the market growth
• To provide historical and forecast revenue of the regional markets and their key countries with respect to market segments
• To provide historical and forecast revenue of the market segmented on the basis of products, and applications
• To provide strategic profiling of key players in the market, comprehensively analyzing their market share, core competencies, and drawing a competitive landscape for the market
• Medical Devices Manufacturers
• Medical Devices Distributors
• Pharmaceutical companies
• Hospitals & Clinics
• Service Suppliers
• Potential Investors
• Key executive (CEO and COO) and strategy growth manager
• North America dominated the global market, and was valued at USD 4.6 billion in 2016. It is expected to reach USD 6.0 billion by 2020
• Insulin pump will be the fastest growing application segment growing at a CAGR of 7.5% from 2016 to 2020
• Europe market was valued at USD 3.3 billion in 2016, and is expected to reach USD 4.4 billion by 2020.
The reports also cover country level analysis:
• North America
o Rest of Europe
o Rest of Asia
• Rest of the World (RoW)
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