Insulin Delivery Devices Market Share, Growth | Forecast 2025

Insulin Delivery Devices Market Forecast to 2025 - Global Analysis by Product (Insulin Pens, Insulin Pumps, Insulin Syringes, Pen Needles, and Others), End User (Patients/Homecare and Hospitals & Clinics), and Geography

Publication Month : Oct 2018

  • Report Code : TIPHE100000819
  • Category : Medical Device
  • Status : Published
  • No. of Pages : 194
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The insulin delivery devices market is expected to grow from US$ 13,631.6 million in 2019 to US$ 22,830.0 million by 2025; it is estimated to grow at a CAGR of 8.7% from 2019 to 2025.

Insulin is a hormone created by the pancreas, also used in an important treatment for people with diabetes. Insulin majorly helps get glucose from the bloodstream into the muscles and fat cells for fuel. Insulin is injected or infused into the fatty tissue under the skin through the delivery devices. There are numerous devices, such as insulin pumps, pen needles, insulin pens, insulin syringes, and jet injectors.

The insulin delivery devices market is segmented into product, end user, and geography. By geography, the market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. This report offers insights and in-depth analysis of the market, emphasizing parameters, such as market trends, market dynamics, and the competitive analysis of the globally leading market players.

Market Insights

Rise in Obesity Associated with Increasing Sedentary Lifestyle and Improper Diet and Increasing Technological Advancement to Drive Insulin Delivery Devices Market Growth

Obesity, sedentary lifestyle, and improper diet are major in increasing diabetes worldwide. Physical activity is important to maintain the blood glucose level. Lack of exercise and an unhealthy diet, such as a diet high in fat and calories increase the risk of developing obesity and diabetes. Obesity is one of the major problems and the biggest concern in all communities across the globe. Over one in two adults and nearly one in six children are obese. Obesity is a major issue affecting people of all ages and incomes globally. According to World Health Organization (WHO), in 2016, over 1.9 billion adults aged 18 years and older were overweight. And out of these, over 650 million adults were obese. Lack of exercise, unhealthy diet, and rapid growth in the obese population are expected to increase the susceptibility to diabetes among the population globally. Hence, this is expected to increase the demand for insulin delivery devices in the coming years.

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Insulin Delivery Devices Market: Strategic Insights

insulin-delivery-devices-market
Market Size Value inUS$ 13,631.6 million in 2019
Market Size Value byUS$ 22,830.0 million by 2025
Growth rateCAGR of 8.7% from 2019 to 2025
Forecast Period2019-2025
Base Year2019
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Furthermore, the advancement in the field of the healthcare industry is driving more research and developments by market players for insulin delivery devices. There are many methods to deliver insulin into the body, such as needles, insulin pens, and insulin pumps. Insulin pumps are small computerized diabetes management devices connected with a cannula under the skin to deliver a slow continuous insulin level. The individual can control the program depending on the more or less requirement. Optimal diabetes management depends on accurate glucose monitoring devices. Various market developments boosted the demand for insulin delivery devices and fueled market growth. For instance, in September 2016, Medtronic announced its first automatic glucose monitoring device, Medtronic’s MiniMed 670G, a hybrid closed looped system that provides appropriate basal insulin doses in people 14 years of age and older with type 1 diabetes. In addition, in July 2018, Abbott announced FDA approval for the FreeStyle Libre 14-day Flash Glucose Monitoring system that allows people with diabetes to wear the sensor for up to 14 days with high accuracy.

Furthermore, in September 2017, BD, one of the top players in the pen needles market, introduced a new variant of BD-Ultra Fine micro pen needles with a 6mm X 32mm dimension. In addition, to reduce the injection site repetition for drug administration, in April 2017, montméd Inc introduced a new variant of SiteSmart colored pen needles to keep the injection site tissue healthy and promote better insulin adoption. Thus, the technological advancements coupled with an increasing influx of new products into the market are expected to propel the growth of the global pen needles market over the forecast years.

Product Insights

Based on product, the insulin delivery devices market is segmented into insulin pens, insulin pumps, insulin syringes, pen needles, and others. The insulin pens segment held the largest share of the market in 2019, and insulin pumps are expected to register the highest CAGR during the forecast period.

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End User Insights

Based on end-user, the insulin delivery devices market is bifurcated into patients/homecare and hospitals & clinics. The patients/homecare segment held the largest share of the market in 2019, also the same segment is expected to register the highest CAGR during the forecast period.

Inorganic developments such as product approvals, mergers & acquisitions, and expansion are highly adopted strategies by the global insulin delivery devices market players. A few of the recent key market developments are listed below:

  • In July 2018, Omnipod Insulin Management System were preferred Insulin Pump in British Columbia.
  • In July 2018, Insulet entered into a partnership with Glooko in Europe to optimize Diabetes Data Management.
  • In June 2018, Insulet’s Omnipod DASH Insulin Management System received FDA 510(k) Clearance.
  • In September 2017, BD introduced a new 6mm Pen Needle for Injection Pens.
  • In August 2017, Tandem introduced t:lock connector for insulin pumps cartridges and infusion sets.

Company Profiles

  • BD
  • Novo Nordisk A/S
  • B. Braun Melsungen AG
  • Insulet Corporation
  • Medtronic
  • Tandem Diabetes Care, Inc.
  • Eli Lilly and Company
  • Biocon
  • Owen Mumford, Ltd.
  • Sanofi
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Product, End User, and Geography

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

The List of Companies - Insulin Delivery Devices Market

  1. BD
  2. Novo Nordisk A/S
  3. B. Braun Melsungen AG
  4. Insulet Corporation
  5. Medtronic
  6. Tandem Diabetes Care, Inc.
  7. Eli Lilly and Company
  8. Biocon
  9. Owen Mumford, Ltd.
  10. Sanofi

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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