AI-powered algorithms to drive the Insulin Delivery Device Market at a CAGR of 7%

Insulin, a blood-sugar regulating hormone, plays a vital role in the entire treatment of diabetes. Patients have to use one of the available insulin delivery devices to access an insulin dose. The global insulin delivery devices market is on the spike, and is estimated to climb up in terms of revenues, reaching US$ 14.09 Bn by 2020 end, up from US$ 9.39 Bn in 2014. The overall growth rate will be healthy, reflected through a CAGR of around 7%, over the forecast period 2014-2020.

Insulin delivery devices are used to administer insulin to individuals with diabetes, a chronic condition characterized by high levels of glucose in the blood. Insulin, a hormone produced by the pancreas, helps to regulate blood sugar levels by allowing glucose to enter cells and be used for energy. There are several types of insulin delivery devices available, including insulin pens, insulin pumps, and insulin jet injectors.

Overall, the insulin delivery device market is expected to continue to grow in the coming years due to an increasing prevalence of diabetes, a growing demand for advanced insulin delivery devices, and the launch of new products.

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Some of the major players operating in the market:

Abbott Laboratories.
Novo Nordisk A/S.
Eli Lilly and Company.
Medtronic, Inc.
Sanofi, Becton.
Dickinson and Company.
F. Hoffmann-La Roche, Ltd.

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However, risk and complications associated with the delivery of insulin and high cost of insulin analog hampers the growth of global insulin delivery devices market. As a result, the global insulin delivery devices market is expected to grow a CAGR of 7% during 2014-2020.

North America has the largest market for insulin delivery devices. Increasing prevalence of diabetes and the rising number of overweight and obese people are key drivers of the insulin delivery devices market in the region. In addition, the rising number of elderly people is also supporting the growth of the insulin delivery devices market in the region.

Similarly, the European insulin delivery devices market is mainly driven by the increasing prevalence of diabetes, rising awareness among people about diabetes treatment, technological advancements in insulin delivery devices and increasing aging population.

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In Asia, insulin delivery devices market is growing due to rising aging population and increasing prevalence of diabetes. In addition, several government initiatives are increasing awareness about diabetes treatment which would increase the demand for insulin delivery devices in the region.

In Latin America, construction of manufacturing and research facilities by many companies is driving factor the insulin delivery devices market in the region.

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