Insulin Delivery Devices Market show exponential growth by 2025 | Becton Dickinson and Company, Abbott, Novo Nordisk Pharmaceutical, Eli Lilly and Company, Medtronic, Sanofi
Major Eminent Players:
Some of the key players in the global insulin delivery devices market are Becton Dickinson and Company, Abbott, Novo Nordisk Pharmaceutical, Eli Lilly and Company, Medtronic, Sanofi, and Roche Holding AG. These companies are highly focused on the development of technologically advanced insulin delivery devices to sustain in this competitive market.
There is enormous opportunity for new and varied technologies for delivering better care across diabetes care continuum. Major players are committed for developing cluster of technologies at affordable rate that will deliver better outcomes to patients. Manufacturers are focusing on mergers and partnership for developing new devices such as drug-device combination that will enhance diabetics care management and complications associated with diabetes.
Insulin Delivery Devices Market Segmentation:
By End User:
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Industry Trend Analysis:
Insulin delivery devices are the devices through which insulin is injected or infused into the fatty tissue under the skin. Insulin can be delivered by insulin syringes, insulin pumps, and insulin pens. The insulin pump is a computerized device which releases rapid acting insulin in the body via a catheter which reaches under the abdomen's skin. Thus, these devices help to control blood sugar in diabetic people by injecting insulin. Diabetes is a chronic, progressive disease that occur either when the pancreas are not producing enough insulin or when the body cannot effectively use the insulin. The symptoms of diabetes are frequent urination, increased thirst, and increased hunger. Factors which increase the risk of diabetes are ethnicity, family history of diabetes, unhealthy diet, physical inactivity and smoking. The exact causes of type 1 diabetes are unknown. Type 1 diabetes can be caused due to complex interaction between genes and environmental factors. The strongest risk factors for type 2 diabetes are overweight and obesity. Diabetes can damage the heart, eyes, blood vessels, kidneys, and nerves which may lead to disability and premature death. Diabetes if not treated on time can cause complications such as heart attack, stroke, kidney failure, leg amputation, vision loss, nerve damage, foot ulcers, and damage to the eyes or even death. People with diabetes are likely to incur disastrous personal health expenditure. As of 2014, diabetes affected 422 million people worldwide with a prevalence of 8.5% among the adult population.Over the past three decades, the prevalence of diabetes is increasing, but it is growing at a higher rate in low and middle incomed countries. The global prevalence of diabetes has nearly doubled since 1980. In 2014, more than 1 in 3 adults were overweight and more than 1 in 10 were obese.
Insulin pens segment occupied the largest share of the insulin delivery devices market in 2016. This is attributed to factors such as easy-to-use devices, increase in popularity among consumers, easier to transport than conventional vial and syringes, enables more specific dosages, and less pain while injecting insulin. Insulin pumps segment is anticipated to grow at highest CAGR throughout the forecast period.This is attributed to factors such as increasing pervasiveness of Type 1 diabetes and technological improvements in insulin pumps. Insulin syringes are equally effective as longer needles and are less intimidating.
Homecare segment held the major share of the global market in 2016. This segment is projected to grow at the highest CAGR throughout the forecast period. This is attributed to factors such as less waiting time, reduction in number of visits to physicians or doctors, and reduced cost of treatment compared to hospitals and clinics.
Table of Contents:
2. Executive Summary
3. Market Overview
4. Insulin Delivery Devices Market, By Product
4.2. Insulin Delivery Devices Market Assessment and Forecast, By Product, 2016-2025
4.3. Insulin Syringes
To be continued...
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Regional Outlook and Trend Analysis:
North America held a major share of the overall market in 2016. This is attributed to factors such as increasing prevalence of diabetes and high adoption of technologically advanced products in the region. Europe is the second largest market for these devices due to factors such as rise in diabetes in elderly population.
Asia-Pacific is poised to be the fastest growing segment over the forecast period, due to large number of collaborations and partnerships between international and local players in this region, large number of people suffering with diabetes, increased awareness amongst people, and growing adoption of insulin pens. For instance, in May 2016, Medtronic collaborated with Sing Health, which is Singapore's largest group of healthcare institutions. This collaboration aims to provide trainings for physicians on the latest technology to manage diabetes.
List of Tables:
Table 1.Global Insulin Delivery Devices Market, By Product ($Million), 2016-2025
Table 2.Insulin Syringes Market, By Region ($Million), 2016-2025
Table 3.Insulin Pens Market, By Region ($Million), 2016-2025
Table 4.Blood Pressure Cuffs Market, By Region ($Million), 2016-2025
Table 5.Insulin Pumps Market, By Region ($Million), 2016-2025
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Key Findings of the Research Study:
Insulin pens segment held the major share of the global insulin delivery devices market in 2016, as insulin pens are easier to transport than conventional vial and syringes.
Homecare segment held the major share of the global market in 2016, due to the high efficiency of the product with high comfort levels and better connectivity.
North America occupied the largest share of the overall market in 2016, due to high adoption of technologically advanced products and advanced healthcare infrastructure.
U.S. held a major share of the global market in 2016 and is poised to continue its lead during the forecast period.
Asia-Pacific is projected to be fastest growing region during the forecast period, primarily due to high patient pool, growing elderly population, and increasing disposable income of people.
List of Figures:
Figure 1.Global Insulin Delivery Devices Market Share, By Product, 2016 & 2025
Figure 2.Insulin Delivery Devices Market, By Region, 2016 ($Million)
Figure 3.Insulin Delivery Devices Market, By Product, 2016 ($Million)
Figure 4.Insulin Delivery Devices Market, By End User, 2016 ($Million)
Figure 5.Abbott Laboratories: Net Revenues, 2014-2016 ($Million)
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About Crystal Market Research:
Crystal Market Research is a U.S. based market research and business intelligence company. Crystal offers one stop solution for market research, business intelligence, and consulting services to help clients make more informed decisions. It provides both syndicated as well as customized research studies for its customers spread across the globe. The company offers market intelligence reports across a broad range of industries including healthcare, chemicals & materials, technology, automotive, and energy.
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