Insulin Delivery Devices Market Study for 2018 to 2026 Providing Information on Key Players, Growth Drivers and Industry Challenges|Novo Nordisk A/S, Sanofi S.A., F. Hoffman la Roche Ltd.

According to the research analysts at the Transparency Market Research, the global insulin delivery devices market was evaluated at US$ 10,385.0 million in the year of 2017. They project that the global insulin delivery devices market will grow at a steady CAGR of 8.7 % over the forecast period of 2018 to 2026. They also predict that the global insulin delivery devices market will reach the evaluation of US$ 21,783.3 million at the end of the forecast period in 2026. Patients living with chronic diabetes require insulin in order to regulate the necessary amount of glucose in their bodies. Advancements and technological innovations have enabled millions of patients to self-administer their daily required insulin intake. Rising incidence of diabetes has caused an increased demand for minimally invasive medical devices used to intravenously deliver the insulin in patient’s body. This factor is effectively boosting the demand in the global insulin delivery devices market.

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Insulin Pens Product Segment Dominates the Insulin Delivery Devices Market

Segments in the global insulin delivery devices market by the type of the product include needle free injection jet, insulin syringes, insulin pumps, insulin patches, and insulin pens, among others. Insulin pens segment accounts for the largest share in the global insulin delivery devices market. This can be attributed to user friendly nature of the insulin pens. Increasing popularity of insulin pens amongst consumers is boosting their adoption rate in various countries. However, stringent regulations pertaining to the approval of next generation pens and other insulin delivery devices as well as the increasing cost of insulin may pose as major restraints for the development of the global insulin delivery devices market in coming years. Segments in the global insulin delivery devices market by the channel of distribution are hospital pharmacy, online sales, diabetes centers and clinics, and retail pharmacy.

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North America Dominates the Insulin Delivery Devices Market

Key regions assessed in the study on the global insulin delivery devices market include North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Major nations evaluated in the research report on the global insulin delivery devices market include the United States, the United Kingdom, Japan, Brazil, Gulf Cooperation Council countries, Canada, Germany, China, Mexico, and South Africa. Geographically, North America held the largest share in the global insulin delivery devices market in terms of revenue in the recent past. This trend can be attributed to high prevalence of diabetes, especially type 1 diabetes mellitus in the United States. Increasing cases of type 1 and other diabetes are anticipated to influence the development of the North America insulin delivery devices market in coming years.

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Players in Insulin Delivery Devices Market Focused on Partnerships and Collaborations

Major incumbent vendors functional within the global insulin delivery devices market include Novo Nordisk A/S, Sanofi S.A., F. Hoffman la Roche Ltd., Dickinson and Company, Owen Mumford Ltd., Cellnovo Group S.A., Insulet Corporation, Mannkind Corporation, B. Braun Melsungen AG, Tandem Diabetes Care, Inc., Eli Lilly and Company, Medtronic PLC, Becton, Biocon Ltd., Ypsomed Holding AG, Valeritas, Inc., and SOOIL Developments Co., Ltd. the competitive landscape of the global insulin delivery devices market is highly fragmented as well as witnesses intense competition. Majority of players and manufacturers in the global insulin delivery devices market are focused on developing new methods that would help consumers in better controlling their glycaemia. They are also focusing on building competitive pricing strategies by working towards reducing the cost of their products. Many players and vendors in the global insulin delivery devices market are entering into collaborations as well as strategic partnerships with both microfluidic technology providers as well as diabetes associations. This is anticipated to create numerous attractive opportunities in the global insulin delivery devices market in coming years.

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