Global insulin delivery device market is expected to reach USD 18.0 billion by 2024, at a CAGR of 9.2% in the forecast period 2017 to 2024. The new market report contains data for historic year 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Global Insulin Delivery Devices Market, By Product Type (Insulin Syringes, Insulin Pens (Reusable, Disposable), Insulin Pumps (External/Tethered, Patch), Pen Needles (Standard, Safety), Insulin Syringes, Insulin Injectors), By End User (Homecare, Hospitals, Clinics, Others), By Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa) – Industry Trends and Forecast to 2024
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Market Definition: Insulin Delivery Device Market
Insulin is considered to be an important part of the treatment plan for all people who have Type 1 and Type 2 diabetes Insulin delivery device is injected into the fatty tissues under the skin with the help of syringes, insulin pens, insulin pumps and jet injectors. Neither a single device nor different type of device works well for all the people therefore decision is based on patient’s insulin regimen, visual ability, ability to afford that particular device and many more.
Major Market Drivers and Restraints:
- Increase Diabetic Population
- More of technological advancement
- Rising awareness about the product
- Favourable reimbursement scenario
Insulin Delivery Device Market Competitors:
Some of the major players operating in insulin delivery device market are Becton, Dickinson and Company, Medtronic, Ypsomed, Novo Nordisk A/S, Beta Bionics, Owen Mumford Ltd., Animas Corporation, Sanofi, Tandem Diabetes Care, Inc., Copernicus, Dance Biopharm, Insulet Corporation, Biocon and Eli Lilly and Company among others.
Market Segmentation: Insulin Delivery Device Market
On the basis of product, the insulin delivery device market is segmented into pens, insulin pumps, pen needles and insulin syringes. Pens are sub segmented into reusable insulin pens and disposable insulin pens. Insulin pumps are sub segmented into external/tethered pumps and patch pumps where in 2016; external/tethered pumps accounted the largest market share. Pen needles are sub segmented into standard pen needles and safety pen needles where pen needle accounted the largest market share in 2016.
On the basis of end users, the insulin delivery device market is segmented into hospitals, clinics and homecare. Homecare segment accounted the largest market share in 2016.
On the basis of geography, insulin delivery device market report covers data points for 28 countries across multiple geographies such as North America & South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.
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