Insulin Delivery Devices Market Stand Out As The Biggest Contributor In Healthcare

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).

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.

Get HOLISTIC Request Sample Copy Of This Business Report:
https://www.coherentmarketinsights.com/insight/request-sample/1352

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.

Increasing adoption of advanced devices for insulin delivery is driving growth of the market

Increasing awareness among population regarding insulin delivery devices coupled with high demand for insulin administration for diabetes control are the factors driving growth of the market. Among region, North America, accounted for largest market share in insulin delivery devices, followed by Europe, owing to high prevalence of lifestyle associated diseases, implementation of awareness programs regarding diabetes, and high adoption of advanced medical devices. For instance, in 2010, according to Journal of Diabetes Science and Technology, majorly insulin pumps were used on the American side of the Atlantic than on the European side, which is projected to propel demand for insulin pumps over the forecast period.

Furthermore, in 2016, the UAE Ministry of Health and Prevention in partnership with the Emirates Diabetes Society and Ministry with AstraZeneca Gulf, launched Circle of Care, an education and support Programme, which intends to improve the well-being of people in the UAE suffering from or at risk of developing type 2 diabetes, in turn fueling growth of the market over the forecast period.

Download the PDF brochure:
https://www.coherentmarketinsights.com/insight/request-pdf/1352

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Contact Us:
Mr.Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email:sales@coherentmarketinsights.com

This release was published on openPR.