Constructive Disruption In Healthcare To Be Witnessed By The Insulin Delivery Device Market From 2014 To 2020

NEW YORK : The insulin delivery device market is expected to experience substantial growth in the upcoming years, as diabetes prevalence is rising globally. Insulin is an essential hormone for regulating blood sugar levels in the body, and patients with type 1 and type 2 diabetes require insulin injections for managing their condition. The insulin delivery device market includes various types of devices such as insulin pens, insulin pumps, and syringes. The market is driven by factors such as increasing prevalence of diabetes, the convenience of insulin delivery devices, and the adoption of advanced technologies.

Market Overview:

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.

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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.

Drivers and Restraints

The insulin delivery device market is driven by several factors, including the increasing prevalence of diabetes, growing awareness about insulin therapy, and technological advancements in insulin delivery devices. Additionally, the rising demand for self-administration devices, such as insulin pens and pumps, is further propelling market growth. However, the high cost of insulin delivery devices and the limited reimbursement policies in developing countries are restraining the market's growth. Furthermore, the safety concerns and complications associated with the use of insulin delivery devices are also hindering the market's expansion. Nonetheless, the continuous efforts of manufacturers to improve product safety and efficacy are expected to create lucrative opportunities for the market's growth in the coming years.

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Segment Analysis:

By Device

Insulin Syringes
Insulin Pens
Insulin Pumps
Insulin Jet Injectors

By Geography

North America
Europe
Asia
Latin America

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