Publication Month: Oct 2018 |
Report Code: TIPHE100000819
| No. of Pages:
| Category: Medical Device
| Status: Published
No. of Pages 194
North America is the largest geographic insulin delivery devices market and it is expected to be the largest revenue generator during the forecast period. North American market is driven by the factors such as, rising geriatric population and increasing prevalence of diabetes in the region.
Diabetes among geriatric population is a growing public health burden worldwide. It is a major cause morbidity and mortality in ageing population that later largely attributable to various chronic complications. Ageing population is poised to become one of the most significant transformation with a heavy impact on the social and economic level across the globe. These population is growing exponentially worldwide. According to a report of United Nation (2017), there were approximately 962 million people aged 60 or over across the globe in 2017 and was projected to reach to 425 million by 2050.
The increasing advancements in blood glucose (BG) monitoring technology have resulted in improved accuracy, smaller required blood volumes, and the ability to transfer data between the BG meter and insulin delivery devices. For instance, in September 2016, the FDA announced their first automatically automatic glucose monitoring device, Medtronic’s MiniMed 670G which is a hybrid closed looped system that provide appropriate basal insulin doses in people 14 years of age and older with type 1 diabetes. In addition, in July 2018, Abbott announced to have a FDA approval for the FreeStyle Libre 14 day Flash Glucose Monitoring system that allows people with diabetes to wear the sensor up to 14 days with high accuracy. These advancements are expected to offer increasing demand for the products, hence providing better share to the market players.
The global insulin delivery devices market by product was led by insulin pens segment. In 2017, the insulin pens segment held a largest market share of 31.3% of the insulin delivery devices market, by product. The segment is also expected to dominate the market in 2025, since they offer increasing ease of use; increasing patient satisfaction and adherence; accuracy for delivering small doses of insulin.
The insulin delivery devices market by end user was segmented into patients/homecare and hospitals & clinics. The patients/homecare segment held the largest share of the market, by end user. The segment is also likely to dominate during the forecast period, as it allows a patient to regulate as well as monitor the glucose levels as well as administer insulin at home.
|Market Size Value in||US$ 11,869.0 Million in 2017|
|Market Size Value by||US$ 22,830.0 Million by 2025|
|Growth rate||CAGR of 8.7% from 2018-2025|
|No. of Pages||194|
|No. of Tables||103|
|No. of Charts & Figures||60|
|Historical data available||Yes|
|Segments covered||Product , End User , and Geography|
|Regional scope||North America; Europe; Asia Pacific; Latin America; MEA|
|Country scope||US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
Product approvals and agreements were observed as the most adopted strategy in global insulin delivery devices industry. Few of the product approvals and agreements made by the players in the market are listed below;
2018:In June, 2018, Medtronic received CE Mark for its MiniMed(TM) 670G Hybrid Closed Loop System.
2018:In February, 2018, Tandemand Rubin Medical signed an agreement for distribution of insulin pumps in Scandinavia.
The List of Companies - Insulin Delivery Devices Market