insulin delivery devices Market

The global insulin delivery devices market is expected to reach US$ 22,830.0 Mn by 2025 from US$ 11,869.0 Mn in 2017. The market is estimated to grow with a CAGR of 8.7% during the forecast period from 2018 to 2025.

The growth of the insulin delivery devices market is primarily attributed to the rise in obesity and increasing technological advancement in insulin delivery devices are the major factors that are anticipated to propel the growth for the insulin delivery devices market. However, complications and risk associated with the delivery of insulin expected to act as major challenges hindering the market growth. On the other hand, growing product innovations is expected to be prevalent future trend in the global insulin delivery devices market.

Global insulin delivery devices market, based on the product was segmented into insulin pens, insulin pumps, insulin syringes, pen needles and others. The insulin pens segment is further segmented into reusable insulin pens and disposable insulin pens segments. The insulin pumps segment is also further bifurcated into tube pumps and patch pumps. Based on pen needle segment, the market is further segmented into standard pen needles and safety pen needles. In 2017, the insulin pens segment held the largest market share among the product segment. This is primarily attributed to its ease of use and its increasing recommendation for its use by the healthcare providers as well as its ease of use, and lesser side effects. The insulin pumps segment is also expected to grow at the fastest rate during the coming years.

The global market of insulin delivery devices was classified into patients/homecare and hospitals & clinics segments, by the end user. The patients/homecare segment anticipated to the largest and fastest growing segment in the forecast period. The increasing diabetic population and increasing adoption of the insulin delivery devices are majorly helping in the growth of this market. Moreover, the ease of use, availability, and accessibility of insulin delivery devices has also increased the adoption of self-administration among patients that proportionally upsurge the rate of using insulin delivery devices in patients or homecare settings.

The insulin delivery devices market was estimated through extensive primary and secondary sources that included a vast array of government authorized websites such as Chinese Diabetes Society (CDS), Food and Drug Administration (FDA), International Diabetes Federation (IDF), National Health Service (NHS), National Institute for Health and Care Excellence (NICE) and others. The primary respondents included chair-holders and representatives of the demand and supply side for healthcare industries as well as medical professionals at various insulin delivery device manufacturing companies, hospitals, and research centers.