Insulin Delivery Devices Market accounted for US$ 16.40 billion in 2020 and is estimated to be US$ 38.62 billion by 2030 and is anticipated to register a CAGR of 8.9%. Insulin cannot be taken as pill or swallowed, because it cannot be broken down by digestive system before it reaches the bloodstream therefore, there are delivery device for injecting insulin into the fatty tissue under the skin. There are various numbers of devices that deliver the insulin in the body such as syringes, insulin pens, jet injectors, and insulin pumps. Furthermore, every patient requires different insulin delivery devices, depending on insulin regimen, and ability to manipulate or operate a particular device, visual ability, or ability to afford a particular device and related supplies, occupation, and daily schedule.
The report " Global Insulin Delivery Devices Market, By Product Type, (Insulin Syringes, Insulin Pens, Insulin Pumps, and Insulin Jet Injectors), By Distribution Channels (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Trends, Analysis and Forecast till 2030”
Key Highlights:
In 2021, Insulet Corporation (NASDAQ: PODD), the global leader in tubeless insulin pump technology with its Omnipod brand of products, presented the Omnipod DASH Insulin Management System (Omnipod DASH) to healthcare providers attending the virtual Australasian Diabetes Congress. Insulet expects to begin taking customer orders for Omnipod DASH by the end of August.
Analyst View:
Rising awareness of insulin delivery devices among individual expected to propel the growth of the market in the near future. Moreover, technological advancements in the insulin delivery devices that are creating demand for these devices which in turn fuelling growth of the global insulin delivery devices market. However, high cost of insulin delivery devices and risk factor associated with the delivery of insulin are key factors which restraining growth of the global insulin delivery market. Also, needle anxiety among patient and positive pace of development of oral insulin which is alternative to IV and subcutaneous insulin could hamper the target market growth to certain extent.
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Key Market Insights from the report:
The Global Insulin Delivery Devices Market accounted for US$ 16.40 billion in 2020 and is estimated to be US$ 38.62 billion by 2030 and is anticipated to register a CAGR of 8.9%. The Global insulin delivery devices market is segmented on the basis of product type, distribution channels, and region.
On the basis of product type, the Global Insulin Delivery Devices Market is segmented into insulin syringes, insulin pens, insulin pumps, and insulin jet injectors.
On the basis of distribution channel, the target market is segmented into hospital pharmacy, retail pharmacy, and online pharmacies.
Based on region the global orphan drugs market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America market dominates the global market in terms of revenue over the forecast period.
Competitive Landscape:
Key players operating in the global insulin delivery devices market includes Novo Nordisk A/S,Sanofi, Medtronic Plc., Becton, Dickinson and Company, Eli Lilly and Company,Insulet Corporation, Abbott,Biocon Ltd., and F. Hoffmann-La Roche Ltd.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
