Insulin Delivery Devices Market Size, Industry Trends, Share and Forecast 2020-2025

Publisher: The Insight Partners

North America is the largest geographic 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.

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INSULIN DELIVERY DEVICES - MARKET SEGMENTATION

By Product

• Insulin Pens

• Reusable Insulin Pens
• Disposable Insulin Pens

• Insulin Pumps

• Tube Pumps
• Patch Pumps

• Insulin Syringes
• Pen Needles

• Standard Pen Needles
• Safety Pen Needles

• Others

By End User

• Patients/Homecare
• Hospitals & Clinics

Rapid Growth in the Geriatric Population

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.

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Increasing Technological Advancement in Insulin Delivery Devices

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.

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