Market Research Report
Global Insulin Delivery Devices Market Size study, by Type (Pens, Pumps, Pen Needles Syringes, Other Devices), by End User( Patients/Homecare, Hospitals & Clinics) and Regional Forecasts 2022-2028
|Global Insulin Delivery Devices Market Size study, by Type (Pens, Pumps, Pen Needles Syringes, Other Devices), by End User( Patients/Homecare, Hospitals & Clinics) and Regional Forecasts 2022-2028|
Published: May 9, 2022
Bizwit Research & Consulting LLP
Delivery time: 2-3 business days
Global Insulin Delivery Devices Market is valued approximately USD 12.5 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 7x% over the forecast period 2022-2028.Insulin is an essential component of the treatment strategy for all patients with Type 1 diabetes, as well as many people with Type 2. Insulin aids in the transport of glucose from the bloodstream into muscle and fat cells for use as fuel. It cannot be taken as a tablet or a liquid because the digestive system would break it down before it reached the bloodstream, where insulin works. Insulin is therefore injected or infused into the fatty tissue beneath the skin.
The favourable reimbursement scenario and strong government backing in selected countries, technological improvements in insulin delivery devices, a growing diabetes population, and expanding knowledge of insulin delivery devices all contribute to the overall market's growth. According to the International Diabetes Federation (IDF) in the year 2021, Diabetes affects around 537 million persons aged 20 to 79. By 2030, the overall number of diabetics is expected to reach 643 million, and by 2045, it will reach 783 million.. Diabetes also caused 1.5 million fatalities worldwide in 2019. Aside from mortality, the illness causes blindness, amputations, kidney failure, stroke, and heart attacks, making it a devastating reality for millions of people worldwide. Insulin delivery systems continue to be critical to the health of millions of diabetics worldwide, and prospective applications of these with precise dosage delivery remain significant drivers of growth in the insulin delivery devices market. However, poor reimbursement structure in developing countries is expected to hamper the market growth.
The key regions considered for the global Insulin Delivery Devices Marketstudy includes Asia Pacific, North America, Europe, Latin America, and Rest of the World.The largest share of the global market was held by North America. This expansion can be attributed to rising diabetes prevalence, favourable reimbursement scenarios in the United States and Canada, increased venture capital investments and IPO issuance in the United States, and FDA approvals to increase the commercial availability of insulin delivery devices in the United States. While Europe will continue to dominate the market, Asia will grow at the quickest rate during the projection period. The increasing population and growing geriatric and diabetic populations are responsible for the rise of the Asian market.
Major market player included in this report are:
Becton, Dickinson and Company
Novo Nordisk A/S
ELI Lilly and Company
Ypsomed Holding AG
Animas Corporation (Johnson and Johnson)
Tandem Diabetes Care, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By End user:
Hospitals & Clinics
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019, 2020
Base year - 2021
Forecast period - 2022 to 2028
Target Audience of the Global Animal HealthMarket in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
List of figures