Insulin Delivery System Market to Generate US$ 22,511.8 Mn Revenue By 2026
Insulin delivery systems are used for administration of insulin through skin and into the fatty tissue below the skin. Insulin delivery systems includes insulin pen, insulin pump, insulin syringe, insulin jet injector, and insulin inhaler. Insulin pen offer patients an accurate and easy way to administer insulin anywhere the necessity arises. Insulin pens come in mainly two types, disposable insulin pen and reusable insulin pen.
The global insulin delivery systems market is estimated to reach a value of over US$ 11,417.1 Mn in 2017 at a CAGR of over 7.0% over the forecast period. The report also offers insightful and detailed information regarding the various key players operating in the global insulin delivery systems market, and their financials, apart from strategies, acquisitions & mergers, and market footprint.
Rising cases of diabetes patients, increasing population towards the diabetes risk factors, variations in day to day lifestyles, and increasing demand for human insulin has an impact on global insulin delivery devices. In addition to this, medical compensation, high cost of living, advance technologies, rising attention from the market players on the development and commercialization of advanced human insulin delivery devices influences on the growth of global insulin delivery devices market. Again, obesity is also major factor for diabetes individual, and shifting of patients from hospitals to specialty clinics.
The global insulin delivery system has been segmented on the basis of type, end users, and region. The market is segmented into insulin pen, insulin syringes, insulin pumps, insulin needles and other devices (jet injectors, transdermal patches, inhalers). The perception behind insulin delivery devices is to maintain the level of sugar in your body, and proper execution of all functional part of the body and cellular activities.
On the basis of product segmentation, insulin pen segment is expected to contribute major revenue share and register a CAGR of over 7%, in terms of revenue over the forecast period, owing to technological advancements with regard to insulin pens to better manage insulin dispensing and administration.
The hospitals segment in the global insulin delivery systems market is projected to account for highest market share in terms of revenue, owing to increasing investments by hospitals in advanced insulin delivery devices to increase the efficiency of insulin administration.
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In 2016, Europe accounted for the second largest revenue share contribution to the global insulin delivery systems market followed by markets in Asia Pacific, Latin America, and Middle east & Africa respectively. Growing demand for insulin delivery equipment that can administer accurate dosage of insulin and are safe & easy to use are key factors fueling growth of the Europe insulin delivery systems market currently.
Key players in the global insulin delivery system market include Ypsomed Holding AG, Becton, Dickson and Company, Novo Nordisk A/S, Medtronic plc, Animas Corporation, Tandem Diabetes Care, Inc., Sanofi, Biocon Ltd, Eli Lilly and company, Insulet Corporation.