Insulin Delivery Devices Market Size, Share | Industry Report 2024

The global insulin delivery devices market was valued at $10.4 bn in 2016 and is anticipated to reach over $18.3bn by 2024.

The insulin delivery devices market is anticipated to witness lucrative growth owing to the rise in prevalence of obesity, diabetes, growing geriatric population and changes in lifestyle. The lifestyle factors such as lack of physical activity, smoking, substance abuse, alcohol, and constant stress are strongly contributing to the early onset of diabetes and thus patients are now using diabetic management products for a significantly longer period.

The WHO (World Health Organization) estimates that in 2014, nearly 1.9 billion (39% of adults) aged 18 years and above were overweight, and out of these, 600 million (13% adults) were obese. The International Diabetes Federation (IDF), estimates that in 2015, over 400 million adults had diabetes and by 2040, it is estimated that over 642 million adults will be impacted due to the disease. The geographical and demographic shift in the prevalence of diabetes is evident as 75% of adults with diabetes are present in low-income, middle-income countries. The significant rise in prevalence of diabetes and obesity is anticipated to propel the usage of various insulin delivery devices over the forecast period.

The rise in geriatric population is amongst the key factors propelling the demand for insulin delivery devices. The IDF data suggest that majority of the diabetic population is in the age group of 40 years to 59 years. Moreover, 46% of the people with diabetes are undiagnosed and in 2015, and nearly 5 million deaths are attributed to the condition. In the U.S., as per the Administration of Aging (AoA) estimates, there are over 46.2 million people aged 65 and above and by 2040, this population is expected to increase by 21.7%. The significant rise in the aging population is anticipated to reinforce growth over the next few years strongly.

The insulin delivery devices market is dominated by players such as Novo Nordisk A/S, Eli Lilly, Becton, Dickinson and Company; Medtronic, Abbott, F. Hoffmann-La Roche Ltd, Mylan, Biocon and others. The market is highly competitive and companies are looking out to acquire suitable assets and extend their dominance. Moreover, the high R&D investment for diabetes management is driving innovation and use of modern technology. For instance, the development of wearable insulin pump patch is anticipated to generate significant revenue over the next few years.

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Key findings from the study: -
• The WHO (World Health Organization) estimates that in 2014, nearly 1.9 billion (39% of adults) aged 18 years and above were overweight, and out of these, 600 million (13% adults) were obese.
• The geographical and demographic shift in the prevalence of diabetes is evident as 75% of adults with diabetes are present in low-income, middle-income countries.
• The insulin pens are available in the price range of USD 300 to USD 700, whereas the other products are available at a much lower cost.
• The insulin delivery devices market is dominated by players such as Novo Nordisk A/S, Eli Lilly, Becton, Dickinson and Company; Medtronic, Abbott, F. Hoffmann-La Roche Ltd, Mylan, Biocon and others.

Ameri Research has segmented the Insulin Delivery Devices Market by product type, end-use and region:

Market Segmentation:

Insulin Delivery Devices Market by Product (Revenue, Million, 2014 – 2024)
• Insulin Syringes
• Insulin Pens
• Insulin Pumps
• Insulin Injectors

Insulin Delivery Devices Market by End-Use, (Revenue, USD Million, 2014 – 2024)
• Hospitals
• Homecare
• Others

Insulin Delivery Devices Market Regional Outlook (Revenue, USD Million, 20124- 2024)
• North America
o U.S.
o Canada

• Europe
o UK
o Germany
o France
o Italy
o Spain

• Asia Pacific
o Japan
o China
o India
o Australia

• Latin America
o Brazil
o Mexico
o Columbia

• Middle East and Africa
o South Africa
o Saudi Arabia

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