Insulin Delivery Devices market: to Reach US$83.0 bn by 2019 due to Introduction of New Insulin Formulations

The global diabetes devices and drugs market will expand at a moderate CAGR of 5.90% during the forecast period from 2013 to 2019, according to a report from Transparency Market Research (TMR). This report is titled “Diabetes Devices and Drugs Market - Global Industry Analysis, Pipeline Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019”. In 2012, the global diabetes devices and drugs market was worth more than US$54.0 bn and by 2019, the market is projected to be worth US$83.0 bn.

The global diabetes devices and drugs market is driven primarily by the expanding diabetic population around the world. In 2014, the global prevalence of diabetes was recorded to be 9% among adults of age 18 years and older, says the WHO. In addition to this, extensive R&D activities are resulting in turnaround changes in the global diabetes devices and drugs market. The global diabetes devices and drugs market will also benefit from the increasing technological innovation and the rising demand for self-monitoring and insulin delivery devices.

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On the basis of device, the global diabetes devices market is segmented into diabetes monitoring and diagnostic devices and insulin delivery devices. Amongst these, monitoring and diagnostic devices are further segmented into analog glucose meters, glucose test strips, lancets and lancing devices, continuous glucose monitoring devices, and others.

Insulin delivery devices are further segmented into insulin syringes, insulin pens, insulin pumps, and insulin injectors. The segment of continuous glucose monitoring devices is predicted to rise at a 6.60% CAGR between 2013 and 2019. On the other hand, insulin pens are also witnessing substantial demand in the global market.

By therapy, the global diabetes drugs market is segmented into insulin, non-insulin injectable anti-diabetes drugs, and oral anti-diabetes drugs class. Of these, insulin is further segmented into short-acting insulin derivatives, intermediate-acting insulin derivatives, long-acting insulin derivatives, rapid-acting insulin derivatives, and premixed insulin derivatives. The oral anti-diabetes drugs class is further segmented into sulphonylureas, biguanides, meglitinides, thiazolidinediones, alpha-glucosidase inhibitors, DPP-4 inhibitors, and SGLT-2 inhibitors. Non-insulin injectable anti-diabetes drugs are further segmented into GLP-1 analogs.

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Geographically, the report segments the market into North America, Europe, Asia-Pacific, and Rest of the World (RoW). Amongst these, North America leads the market for diabetes devices and drugs. This is due to the rising diabetic population, advanced medical infrastructure, and the increasing technological developments within this region.

However, Asia Pacific is projected to be the most lucrative market for diabetes devices and drugs in the forecast horizon. This is owing to the growing occurrence of diabetes and the rising awareness about self-management and monitoring of diabetes in this region.

As mentioned in the study, the prominent players dominant in the market are AstraZeneca plc, Abbott Laboratories, Inc., B Braun Melsungen AG, Becton, Dickinson and Company, Bayer HealthCare AG, Ingelheim GmbH, and Boehringer, among others.

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

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This release was published on openPR.