The Global Insulin Deliver Devices Market is projected to witness an annual compound growth percentage of 6.9% during the forecast period of 2014 to 2020. Insulin Delivery Devices aid in delivering treatment with the help of various devices like pen injectors, insulin pumps, jet injectors, and insulin syringe. Diabetes is a chronic disease wherein the body fails to produce the requisite amount of insulin or is unable to use the same in an effective manner. Diabetes comprises primarily of two types, namely type 1 and type 2. This disorder occurs when the blood sugar or blood glucose level in the body is way to high. Some of the leading factors fostering the growth of the market are increasing awareness among the people concerning diabetic care, rising obesity endemic, widespread prevalence of diabetes, and technological advancements in regard to delivery devices.
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The Global Insulin Delivery Devices Market hosts a number of key and prominent players, including
- Beta Bionics
- Novo Nordisk
- Eli Lilly
- SHL Group
- Becton Dickinson (BD)
March 27th, 2019
Medtronic announced the launch of its self-adjusting insulin pump system, named MiniMed 670G system, for patients that have type 1 diabetes in the UK region. It is the first system that not only automates but also personally customizes the delivery of basal insulin 24 hours a day.
Insulin Deliver Devices Market – Segmentation
The Global Insulin Delivery Devices Market segmentation on the basis of type, segments into insulin pumps, insulin syringes, insulin jet injectors, insulin pens, and others. While each one of these devices are effective and hold key attributes, the market category is led by insulin pumps.
Insulin pumps are projected to be a significant segment in the coming years and is expected to drive notable revenues towards the global market. It is further expected that the introduction of advanced insulin delivery devices like portable insulin pumps will position the insulin pumps market for growth in the next few years.
Insulin Deliver Devices Market – Regional Analysis
The Global Insulin Delivery Devices Market is geographically segmented into the following regions: North America, Europe, Asia Pacific, and Rest-of-the-World (RoW).
The market is led by two of the most developed regions globally, namely North America and Europe. Both the regional markets hold a significant share of the global market and is expected to hold onto its dominance in the coming years of the forecast period. The developed economical state of both these regions allow them to have an edge over various other notable regions across the globe, be it in terms of technology or healthcare. The market is growing herein due to factors like the increasing advancements ongoing in the healthcare industry, growing diabetic population, and a relatively fast-paced adoption of technologies.
In North America, the US is expected to hold the leading position and contribute significantly to the overall growth of the region. The higher GDP, technologically advanced, and high per capita expenses on healthcare make the nation as one of the biggest contributors even in the global landscape. At the same time, Germany holds the leading position in the European regional market. The topmost position of Germany in Europe is due to the large medical device industry therein.
The Asia Pacific region is another key region in the global Insulin Delivery Devices Market landscape and is growing at a rapid pace due to the huge population of Type – 1 diabetic patients and a booming economy in countries like Vietnam, Indonesia, India, and China. In Asia Pacific, India plays a major role in the overall growth of the region due to the presence of a vast pool of type – 2 diabetic patients. Additionally, the rising demand for quality-driven devices in the healthcare sector alongside the advancing healthcare technology is anticipated to drive the Asia Pacific region towards further growth and expansion.
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