Insulin Delivery Devices Market Size and Competitive Analysis by 2025

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.

Published Report - Insulin Delivery Devices Market: Strategic Insights

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.

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.

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.

Insulin Delivery Devices

Published Report - Insulin Delivery Devices Market Players Density: Understanding Its Impact on Business Dynamics

The Published Report - Insulin Delivery Devices Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

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