New York, NY -- (SBWIRE) -- 03/12/2021 -- Insulin is a naturally occurring hormone that is responsible for allowing glucose in the blood to enter the blood stream, providing them with energy to function. Being essential to life, a lack of its secretion or improper secretion of insulin. A lack of effective insulin plays a key role in the development of diabetes. Insulin Delivery Devices Market is expected to reach USD 31.20 Billion by 2027; at a CAGR of 9.3%.

Thus, people with diabetes have to externally inject insulin in order to sustain themselves. With the changes in the lifestyle of the people there has been a spike in the number of cases of diabetes and therefore there has been a rise in the demand for insulin delivery devices. Insulin delivery devices are very useful for people suffering from type – I diabetes. There are various types of delivery devices and the choice of the devices depend on the patients. The continuous research and development in this field and launch of novel devices has propelled the market. For instance, the announcement of the approval of interoperable pumps has aroused interest in the market. In addition the proposed launch of smart insulin pens has further sparked interest among the people for this market. Such factors increase the demand for the devices.

The key players in the market include Sanofi Diabetes, Nova Nordisk, Omnipod Insulin Management, Eli Lilly and Company, Gerresheimer, Johnson and Johnson, Becton Dickinson, Tandem Diabetes Care Inc. and Medtronic Plc.

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For the purpose of this report, Reports and Data has segmented the Insulin Delivery Devices market on the basis of type, distribution channel, end use, and region:

Type (Revenue, USD Million; 2016–2026)

Insulin Syringe
Insulin Pens:
Disposable
Reusable
Insulin Jet Injectors
Insulin Pumps:
Tethered
Patch
Insulin Needles
Insulin Inhalers:
External Insulin
Implantable Insulin

Distribution Channels (Revenue, USD Million; 2016–2026)

Hospital Pharmacies
Retail Pharmacies
Online Pharmacies

End Use (Revenue, USD Million; 2016–2026)

Hospitals
Clinics
Ambulatory Care Centers
Homecare

Regional Outlook (Revenue in USD Million; 2016–2026)

North America
Europe
Asia Pacific
Middle East & Africa
Latin America

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Further key findings from the report suggest

Medtronic's MiniMed 670G System has been a milestone in this market. It was recently launched, making delivery of insulin simpler and easier.

Insulin pens are expected to grow at a rate of 9.2%. The expected launch of smart insulin pens in the year 2019 has sparked further interest in this market. Insulin pens have been proven to be easier at application and accessible. Thus, they dominate the market with a share of 50.8%.

Insulin Pumps are seen to be the fastest growing devices with the rising awareness. They are expected to register a growth rate of 11.2%.

With the advanced devices in the market, taking insulin at home has been made possible. Thus, the rising preference towards homecare has made it dominate the market. It registers a market share of 68% and continues to grow at a rate of 9.5%.

The availability of financial assistance facilities and the strong government support and initiatives to make insulin delivery devices and medications affordable has been a big boost to the market.

North America records the highest number of cases of diabetes. The changes in lifestyle, improper dietary habits and lack of exercise have been the key factors responsible for the increased number of cases. Thus, North America dominates the market by holding more than 50% market shares.

Europe follows North America by holding the second largest market shares. This can be attributed to the extensive research and development carried out in this region along with the launch of novel products.
Asia Pacific is seen to be the fastest growing region due to the increasing number of diabetes cases. In addition to this, the availability of resources and cheap labor has encouraged several manufacturers to set up their manufacturing units in this region. The region is expected to continue its growth at a rate of 10.4%.

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Table of Content –

Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018 – 2026
Chapter 3. Indicative Metrics
3.1. Rising prevalence diabetes
Chapter 4. Insulin Delivery Devices Segmentation & Impact Analysis
4.1. Insulin Delivery Devices Segmentation Analysis
4.2. Insulin Delivery Devices Market Value Chain Analysis, 2016-2026
4.3. Regulatory framework
4.4. Insulin Delivery Devices Market Impact Analysis
4.4.1. Market driver analysis
4.4.1.1. Research and Development
4.4.1.2. Launch of novel devices
4.4.2. Market restraint analysis
Continued…

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