Insulin Delivery Devices Market UpComing Developments With Major Key Players Novo Nordisk A/S, Becton, Dickinson and Company, Sanofi S.A., F. Hoffmann-La Roche, Eli Lilly ,Medtronic

The global insulin delivery devices market was valued at US$ 11,326.9 million in 2017 and is expected to witness a CAGR of 11.3% over the forecast period (2017–2025).

Insulin plays a vital role in the treatment of diabetes as it aids in controlling the blood glucose level in diabetes patients. Diabetes is considered to be one of the most prevalent disease in the world, as stated by the World Health Organization and resulted in 1.6 million deaths in 2015, globally. There are few devices that can be used to deliver insulin, including syringes, insulin pens, jet injectors, and insulin pumps. After getting infused or injected into the diabetic patient’s body, insulin helps to get glucose from the bloodstream into the fat cells or muscle. Increasing adaption of these devices coupled with rising number of patients with diabetes is expected to act as a major factor to boost growth of insulin delivery devices market. In addition to this, manufacturers are also focusing on investing in new technologies, which can address the current shortcomings of these drug delivery systems such as durability, painful procedure and cost, thus meeting the unmet needs of diabetic patients.

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Increasing prevalence and incidence of diabetes is a major factor driving the insulin delivery devices market growth. According to the Centers for Disease Control and Prevention (CDC), 2014, about 29.1 million people in the U.S. have diabetes with a healthcare burden of around US$ 245 Bn and with an estimated 4.6–9.2% of pregnant women affected by gestational diabetes. Moreover, the Australian government launched National Diabetes Strategy (2016–20), for an action to prevent diabetes and support the people living with diabetes. Thus, rise in government initiatives to support diabetic patients is expected to favor growth of the insulin delivery devices market.

Development of systems and devices for improved drug delivery is expected to be factor for growth of the market. When compared with vial and syringe regimens, insulin pens offer a greater clinical efficacy, improved quality of life, and increased dosing accuracy, particularly at low doses. Thus, introduction of insulin pen devices has aided patients with diabetes mellitus in easier and more convenient treatment regimens. For instance, in January 2014, Novo Nordisk launched the NovoPen Echo in the U.S. market. This is the first and only pen device available in the U.S. with half-unit dosing and a memory function that can record the dose and time passed since the last injection.

The global insulin delivery devices market is expected to expand at a CAGR of 11.3% over the forecast period as there exists a huge market especially in Asia Pacific, Latin America, Middle East, and Africa owing to increasing diabetic patient pool in these regions.

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