Global Insulin Delivery Devices Market: Snapshot
The demand in the global insulin delivery devices market
is projected to increment at a robust CAGR of 8.6% during the forecast
period of 2017 to 2025, gaining traction from a number of factors, but
none bigger than the prevalence of diabetes, which is a highly common
chronic disease that affected about 8.5 of the global population in
2014, according to the figures provided by the World Health Organization
(WHO). Advancements in insulin delivery devices with improving
technology, government initiatives to impart awareness, and appreciative
reimbursement environment in a number of developed countries are some
of the other factors favoring the global insulin delivery devices
market. On the other hand, the lack of awareness regarding the
availability of alternative insulin delivery methods such as oral and
poor reimbursement policies in a number of developing countries are
hindering the market from achieving its true potential.
As per the estimations of this report,
the global insulin delivery devices market will be worth US$20,996.2 mn
by the end of 2025, notably up from its evaluated valuation of US$10,160
mn in 2016. While insulin pens is the most in-demand product segment,
North America is most profitable regional market. Escalated research and
development activities regarding diabetes-case is expected to open new
revenue avenues for the vendors operating in the global insulin delivery
devices market.
Insulin Pens Make Highly Profitable Product Segment
The global insulin delivery devices
market, on the basis of product, has been segmented into insulin pens,
insulin syringes, insulin pumps, needle-free injection jet, and insulin
patches. Among these, insulin pens segment accounted for 42% of the
total demand in 2016, and is projected to remain the most profitable
product segment throughout the forecast period. This sustained demand
for insulin pens is owing to its high adoption in the vastly populated
region of Asia Pacific, along with the developed region of Europe. In
these two regions, nearly 90% of the diabetic patients use insulin pens,
a device that has not penetrated as much into the developed country of
the U.S., wherein only 25% of the population use the product. That being
said, the popularity of insulin pens is expected to increment steadily
in the U.S. in the near future as its advantages such as flexibility and
moderate pain.
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North America and Europe Serve Maximum Demand
Out of the five regions studied by this
report: North America, Asia Pacific, Europe, Latin America, and The
Middle East and Africa, the insulin delivery devices market currently
has the maximum potential in North America, which served 37.5% demand in
2016. Most of the demand from North America comes from the country of
The U.S., which has diabetes spread across the masses along with a
robust healthcare infrastructure. Mushrooming private diabetic care
facilities, well-defined reimbursement policies, and growing awareness
are some of the other factors augmenting the demand in the North America
insulin delivery devices market. While Europe is currently the second
most profitable region for the vendors operating in the global insulin
delivery devices market, vastly populated Asia Pacific is expected to
turn into a highly lucrative region towards the end of the forecast
period, gaining solid demand from the emerging economies such as India
and China.
Some of the key companies operating in
the global insulin delivery devices market are: Sanofi S.A., Novo
Nordisk A/S, F. Hoffmann-La Roche Ltd., B. Braun Melsungen AG, Eli Lilly
and Company, Medtronic plc, Becton, Dickinson and Company, Cellnovo
Group SA., Owen Mumford Ltd., Biocon Ltd., Animas Corporation (Johnson
& Johnson), and Tandem Diabetes Care, Inc. Currently, the
competitive landscape of insulin delivery devices market is quite
fragmented with the presence of a number of local vendors.
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