Insulin Delivery Devices Market 2020 Regional Growth To 2025 By Top Players
Category: #business  By Ronak Bora  Date: 2021-03-30
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Insulin Delivery Devices Market 2020 Regional Growth To 2025 By Top Players

Insulin Delivery Devices Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

Widespread prevalence of diabetes along with increased focus on diabetes management and associated demand for insulin delivery devices will drive global insulin delivery devices market outlook. Rise in number of people suffering from diabetes along with increase in undiagnosed diabetes will favor insulin delivery devices development.

As per the American Diabetes Association, almost 10% of the total population in America had diabetes in 2015 and over one-fourth of the population in the country is still undiagnosed. In the U.S. alone, health expenditure on diabetes in 2017 was USD 727 billion.

Growing spending on healthcare across developed and developing countries will favor industry growth over the coming years. Global insulin delivery devices market size is projected to exceed USD 20 billion in terms of annual remunerations by 2025.

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Product development and FDA approvals

Manufacturers in the insulin delivery devices industry are focusing on product developments and introduction of new products for unaddressed issues related to diabetes. Medtronic, an Irish medical device manufacturer was the first to receive FDA approval for an automated insulin delivery system for individuals with Type 1 diabetes, ageing 14 and above.

However, the company expanded that approval to include children as young as seven, in 2018. Increasing development of minimally invasive delivery is fueling product proliferation. Insulin pumps are set to showcase notable growth rate of 7.5% through 2025, being the second most preferred device for insulin delivery.

Demand for insulin syringes

Insulin syringes are witnessing high demand as they are designed with an improved lubricated needle that provides pain-free experience. Insulin syringes demand is set to grow at 5% over the next few years. Many of the people who are diagnosed with diabetes need at least 2 insulin shots per day. Several benefits associated with insulin syringes including efficiency, low cost, ease of use, convenient alternative to other insulin delivery devices will drive product demand.

Increased adoption of insulin pens

Over the past few years, insulin delivery pens are being preferred over other insulin delivery devices, especially across Europe. This can be attributed to high cost associated with insulin pumps. Currently. Germany is among the largest market for insulin pens across Europe, accounting for around 30% of the global market share.

Expanding diabetic population in APAC

Countries in the Asia Pacific region face significant burden of diabetes. China is home to more than one fourth of world's diabetic patients. Large diabetic population in the China will serve as potential consumer base in the next few years.

According to the IDF (International Diabetes Federation) there are around 425 million adults suffering from diabetes across the world and out of all these, 114 million cases belong to China alone, while than half of these cases remain undiagnosed. China insulin delivery devices industry share is set to grow at 13.7% CAGR through 2025. 

Browse full table of contents (TOC) of this report @ https://www.decresearch.com/toc/detail/insulin-delivery-devices-market

Partial Chapter of the Table of Content 

Chapter 2. Executive Summary

2.1. Insulin delivery devices industry 3600 synopsis, 2014 - 2025

2.1.1. Business trends

2.1.2. Product trends

2.1.3. Regional trends

Chapter 3. Insulin Delivery Devices Industry Insights

3.1. Industry segmentation

3.2. Industry landscape, 2014 – 2025

3.3. Industry impact forces

3.3.1. Growth drivers

3.3.1.1. Favorable device insurance and reimbursement policies in North America and Europe

3.3.1.2. Collaboration of public and private sectors to meet diabetes needs

3.3.1.3. Growing diabetes burden in Latin American countries

3.3.1.4. Increasing healthcare expenditure in Middle Eastern region

3.3.2. Industry pitfalls & challenges

3.3.2.1. Low usage of insulin pumps in Europe

3.3.2.2. High out-of-pocket expenditure required for diabetes management in Asia Pacific region

3.3.2.3. Limited access to public healthcare and associated high cost in Latin America

3.3.2.4. Stringent government regulations and product approvals in the Middle East

3.4. Diabetes prevalence in major countries, 2017

3.4.1. Diabetes prevalence in Euro 5 countries, 2017

3.5. Global cost of diabetes management by region, 2017

3.6. Major company’s product portfolio

3.7. Growth potential analysis

3.7.1. By product

3.8. Regulatory landscape

3.8.1. U.S

3.8.2. Europe

3.9. Reimbursement policies and public healthcare sector insurance coverage

3.10. Porter’s analysis

3.11. Competitive landscape, 2018

3.11.1. Company market share analysis, 2018

3.11.2. Strategy dashboard

3.12. PESTEL analysis

 

About Author

Ronak Bora    

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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