Insulin Delivery Devices Market with Industry Capacity, Future Prospects, Economic Aspect and Forecast to 2025 Profiling BD, Novo Nordisk A/S, B. Braun Melsungen AG, Insulet Corporation, Medtronic, Tandem Diabetes Care
Rapid Growth in the Geriatric Population
Diabetes among geriatric population is a growing public health burden worldwide. It is a major cause morbidity and mortality in ageing population that later largely attributable to various chronic complications. Ageing population is poised to become one of the most significant transformation with a heavy impact on the social and economic level across the globe. These population is growing exponentially worldwide. According to a report of United Nation (2017), there were approximately 962 million people aged 60 or over across the globe in 2017 and was projected to reach to 425 million by 2050.
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Companies profiling in this market include:
BD, Novo Nordisk A/S, B. Braun Melsungen AG, Insulet Corporation, Medtronic, Tandem Diabetes Care, Inc., Eli Lilly and Company, Biocon, Owen Mumford, Ltd., Sanofi
What the research report offers:
- Market definition of the global Insulin Delivery Devices market along with the analysis of different influencing factors like drivers, restraints, and opportunities.
- Extensive research on the competitive landscape of global Insulin Delivery Devices market.
- Identification and analysis of micro and macro factors that are and will effect on the growth of the market.
North America is the largest geographic market and it is expected to be the largest revenue generator during the forecast period. North American market is driven by the factors such as, rising geriatric population and increasing prevalence of diabetes in the region.
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The global insulin delivery devices market accounted to US$ 11,869.0 Mn in 2017 and is expected to grow at a CAGR of 8.7% during the forecast period 2018 – 2025, to account to US$ 22,830.0 Mn by 2025.
Increasing Technological Advancement in Insulin Delivery Devices
The increasing advancements in blood glucose (BG) monitoring technology have resulted in improved accuracy, smaller required blood volumes, and the ability to transfer data between the BG meter and insulin delivery devices. For instance, in September 2016, the FDA announced their first automatically automatic glucose monitoring device, Medtronic’s MiniMed 670G which is a hybrid closed looped system that provide appropriate basal insulin doses in people 14 years of age and older with type 1 diabetes. In addition, in July 2018, Abbott announced to have a FDA approval for the FreeStyle Libre 14 day Flash Glucose Monitoring system that allows people with diabetes to wear the sensor up to 14 days with high accuracy. These advancements are expected to offer increasing demand for the products, hence providing better share to the market players.
The global insulin delivery devices market by product was led by insulin pens segment. In 2017, the insulin pens segment held a largest market share of 31.3% of the insulin delivery devices market, by product. The segment is also expected to dominate the market in 2025, since they offer increasing ease of use; increasing patient satisfaction and adherence; accuracy for delivering small doses of insulin.
End User Insights
The insulin delivery devices market by end user was segmented into patients/homecare and hospitals & clinics. The patients/homecare segment held the largest share of the market, by end user. The segment is also likely to dominate during the forecast period, as it allows a patient to regulate as well as monitor the glucose levels as well as administer insulin at home.
Product approvals and agreements were observed as the most adopted strategy in global insulin delivery devices industry. Few of the product approvals and agreements made by the players in the market are listed below;
2018: In June, 2018, Medtronic received CE Mark for its MiniMed(TM) 670G Hybrid Closed Loop System.
2018: In February, 2018, Tandem and Rubin Medical signed an agreement for distribution of insulin pumps in Scandinavia.
INSULIN DELIVERY DEVICES – MARKET SEGMENTATION
- Insulin Pens
- Reusable Insulin Pens
- Disposable Insulin Pens
- Insulin Pumps
- Tube Pumps
- Patch Pumps
- Insulin Syringes
- Pen Needles
- Standard Pen Needles
- Safety Pen Needles
By End User
- Hospitals & Clinics
- North America
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- South America (SAM)
Reason to Buy
– Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Insulin Delivery Devices Market
– Highlights key business priorities in order to assist companies to realign their business strategies.
– The key findings and recommendations highlight crucial progressive industry trends in the Insulin Delivery Devices Market, thereby allowing players to develop effective long term strategies.
– Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
– Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
– Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
The Insight Partner’s dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
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