Rise in obesity associated with increasing sedentary lifestyle and improper diet is anticipated to drive the market for insulin delivery devices over the forecast period.
According to a new market research study titled ‘Insulin Delivery Devices Market to 2025 - Global Analysis and Forecasts by Product and End User, the global insulin delivery devices market was valued at US$ 11,869.0 Mn in 2017 and is estimated to reach US$ 22,830.0 Mn by 2025. The market is estimated to grow with a CAGR of 8.7% from 2018-2025.The report highlights the trends prevalent in the global insulin delivery devices market and the factors driving the market along with those that act as deterrents to its growth. The increasing prevalence of diabetes, rapid growth in the geriatric population and increasing technological advancement are the other factors that are anticipated to upsurge the market growth of insulin delivery devices. However, the factors such as high cost of insulin delivery devices and complications & risk associated with the delivery of insulin are expected to act as a major challenges hindering the market growth at a certain extent.
Global insulin delivery devices market, based on product segmented into insulin pens, insulin pumps, insulin syringes, pen needles and others. In 2017, insulin pens segment held the largest share of the market by product type. The insulin pumps segment is expected to grow at the fastest rate during the coming years.
The increasing rate of obesity, sedentary lifestyle and improper diet play a major role in increasing diabetes among the population worldwide. Physical activity is important to maintain the blood glucose level. Lack of exercise and unhealthy diet such as diet high in fat and calories increase the risk for the development of obesity and diabetes. Obesity is one of the major issue that affect people of all ages and incomes globally. According to World Health Organization (WHO), in 2016, more than 1.9 billion adults aged 18 years and older were overweight. And out of these over 650 million adults were obese. Hence, this is expected to increase the demand of insulin delivery devices in the coming years.
The major players operating in the insulin delivery devices market include BD, B. Braun Melsungen AG, Insulet Corporation, Medtronic, Tandem Diabetes Care, Inc., Eli Lilly and Company, Biocon, Owen Mumford, Ltd., Sanofi among others. The market players are focused towards bringing new and innovative product launches to sustain their position in the market. For instance, in February, 2018, Medtronic launched MiniMed (TM) 670G system for patients with 7-13 years of age.
The report segments the global insulin delivery devices market as follows:
Global Insulin Delivery Devices Market - By Product
Reusable Insulin Pens
Disposable Insulin Pens
Standard Pen Needles
Safety Pen Needles
Global Insulin Delivery Devices Market - By End User
Hospitals & Clinics
Global Insulin Delivery Devices Market - By Geography
Asia Pacific (APAC)
Middle East & Africa (MEA)
South and Central America (SCAM)
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