Insulin Delivery Devices Market Size, Growth and Share Analysis By Type (Insulin Pen, Insulin Syringes Insulin Pumps, Insulin Jet Injectors, Pen Needles), Distribution Channel, Regional Insights and Leading Companies, Forecast to 2025
The Global Insulin Delivery Devices Market size and share is projected to reach USD 21,804 million at a CAGR of 7.8% during the forecast period of 2019 to 2025. 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 too high. Insulin Delivery Devices Market are increasing awareness among the people concerning diabetic care, rising obesity endemic, widespread prevalence of diabetes, and technological advancements regarding delivery devices.
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Insulin Delivery Devices Market Segmentation
The Global insulin delivery devices market is segmented by type, distribution channel and end user
By Type, the global insulin delivery devices market is segmented 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.
By distribution channel, the insulin delivery devices market is segmented into Insulin pumps, Insulin syringes, Insulin jet injectors, Insulin pens and Others
By end user, the insulin delivery devices market is segmented into Hospitals & Clinics, Homecare and Specialty Centers
Insulin Delivery 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 insulin delivery devices 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 insulin delivery devices 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 insulin delivery devices market growth. 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 insulin delivery devices market. The topmost position of Germany in Europe is due to the large medical device industry.
The Asia Pacific region is another key region in the global 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.
Insulin Delivery Devices Market Competitive Landscape
The Global Insulin Delivery Devices Market prominent players, including, Beta Bionics Roche, Sanofi, Novo Nordisk, Eli Lilly, MannKind, SHL Group, Medtronic, Copernicus, InsuJet, Becton Dickinson (BD)
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