Insulin Delivery Devices Market : Increasing Adoption Of Advanced Devices For Insulin Delivery Is Driving Growth Of The Market Till 2026 With Key Players Novo Nordisk A/S, Becton, Dickinson and Company, Sanofi S.A.

Direct subcutaneous insulin injection are the most common form of drug delivery, using a needle and syringe. There are different types of insulin delivery devices available including, syringes, pens, jet injectors, and insulin pumps. Insulin can be packaged in vials (bottles), cartridges or prefilled pens. However, several disposable and reusable pen devices have been developed that provide options for delivering rapid insulins and insulin premixes. Type or dosage of insulin can be changed according to the requirements to meet the individual needs of the patient Manufacturers are focusing on designing products, which are cost effective for people with diabetes which is expected to propel the growth of the insulin delivery devices market. For instance, in July 2017, Becton, Dickinson and Company launched BD Viva pen needles, have a highly engineered needle tip design for improved comfort and considered as the most cost-effective option for insulin-injecting people with diabetes in the UK.

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Market Dynamics

The market is gaining significant traction due to increasing prevalence of diabetes, and new innovations in terms of design. According to the World Health Organization, in 2016, an estimated 422 million adults are living with diabetes globally. The major spike in incidence of type 2 diabetes over the last decade is mainly attributed to rising prevalence of obesity. However, high cost of some insulin delivery devices is expected to be a restraining factor for the market growth. For instance, insulin analogs supplied in cartridges or prefilled pens have a higher per unit of insulin cost than insulin analogs supplied in vials. For example, one vial (1000 U) of insulin costs US$ 105.95, which equates to a cost of 10.6 cents per unit of insulin. Five prefilled insulin pens containing insulin glulisine (total of 1500 U) have a total cost of US$ 201.01, equating to a cost of 13.4 cents per unit of insulin (26% over the cost of insulin glulisine supplied in a vial).

Key features of the study:

-This report provides in-depth analysis of the insulin delivery devices market and its application, market size (US$ Million) and Cumulative Annual Growth Rate (CAGR (%)) for the forecast period: (2017–2025), considering 2016 as the base year
-It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
-This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players
-It profiles leading players in the global insulin delivery devices market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments, and strategies and future plans
-Key companies covered as a part of this study include Novo Nordisk A/S, Becton, Dickinson and Company, Sanofi S.A.., F. Hoffmann-La Roche, Ltd., Eli Lilly and Company, Medtronic, Plc, Ypsomed Holding AG, Animas Corporation, and Insulet Corporation.
-Insights from this report would allow marketers and management authorities of companies to make informed decision with respect to their future product launch, distribution channel upgrades, market expansion, and marketing tactics.
-The global insulin delivery devices market report caters to various stakeholders in this industry, including investors, product manufacturers, distributors and suppliers of insulin delivery devices, research and consulting firms, new entrants, and financial analysts
-Various strategy matrices used in analyzing the insulin delivery devices market would provide stakeholders vital inputs to make strategic decisions accordingly

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Detailed Segmentation:

Global Insulin Delivery Devices Market, By Product Type:
Insulin Syringes
Insulin Pens
Insulin Pumps
Insulin Jet Injectors

Global Insulin Delivery Devices Market, By Distribution Channel:
Hospital Pharmacies
Retail Pharmacies
Online Pharmacies

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This release was published on openPR.