Insulin Delivery Devices Market Will Be Worth $19.8 Billion By 2025: Grand View Research, Inc.
The insulin delivery devices market is expected to
reach USD 19.8 billion by 2025, according to a new report by Grand View
Research, Inc. The global industry is estimated to witness a high growth during
the forecast period from 2016 to 2025. Rapidly increasing number of diabetics
coupled with the escalating attention around diabetes care is a major factor
propelling the market.
Insulin delivery devices market, by product, 2014 - 2025 (USD Million) |
Obesity,
sedentary lifestyles, and unhealthy food habits, primarily in the young
population, lead to the occurrence of diabetes. In addition, growing diabetic
geriatric population is another factor supporting the growth of this vertical.
According to the United Nations, Department of Economic and Social Affairs,
around 901 million individuals were aged 60 or over in 2015 and this number is
projected to increase to 1.4 billion by 2030. Thus, the enlarging elderly
population is expected to boost the demand for insulin delivery devices.
Technological
innovations and advancements are an ongoing trend in this vertical. Also,
favorable reimbursement policies for these devices, mainly in developed
countries like the U.S. and Germany, are anticipated to fuel the market growth
during the study period. However, stringent regulatory requirements regulating
the approval of insulin delivery devices is a major factor restraining the
growth of this industry.
Browse full
research report on Insulin Delivery Devices Market:
www.grandviewresearch.com/industry-analysis/insulin-delivery-devices-market
Further key
findings from the study suggest:
- The insulin pens segment was the largest
revenue-generating category of this market in 2015. The pen is equipped
with self-contained cartridges and offers ease in handling & less pain
while injecting insulin. Advantages of these pen devices over other
products are resulting in its growing popularity, thus serving as a vital
factor in contributing to the sector’s highest share in this market.
- Homecare is estimated to be the largest
shareholder and the fastest growing segment due to increased adoption of
self-care diabetes management devices and the availability of simplified
and user-friendly product designs for patients.
- North America is the leading regional sector
and accounted for the largest revenue share in 2015 primarily due to the
favorable reimbursement scenario in this space. Also, the presence of
major manufacturers in this region is supporting the market growth.
- The Asia Pacific region is anticipated to be
the fastest growing market during the forecast period. The high prevalence
rate of diabetes in the Asian countries, such as China and India, is a
major factor contributing to market expansion in this region.
- Some key players serving this vertical include
Novo Nordisk A/S; Sanofi; Eli Lilly and Company; Medtronic; Becton,
Dickinson and Company; Abbott; and F. Hoffmann-La Roche Ltd.
Browse more
reports of this category by Grand View Research: www.grandviewresearch.com/industry/medical-devices
Grand View Research has segmented the insulin delivery devices market on
the basis of product, end-use, and region:
Insulin
Delivery Devices Market Product Outlook (Revenue, USD Million, 2014 - 2025)
- Insulin
syringes
- Insulin
pens
- Insulin
pumps
- Insulin
injectors
Insulin
Delivery Devices End-use Outlook (Revenue, USD Million, 2014 - 2025)
- Hospitals
- Home
care
- Others
Insulin
Delivery Devices Market Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North
America
- U.S.
- Canada
- Europe
- UK
- Germany
- Asia
Pacific
- China
- India
- Latin
America
- Brazil
- Mexico
- Middle
East and Africa
- South
Africa
- Saudi
Arabia
Access
Press Release By Grand View Research: www.grandviewresearch.com/press-release/global-insulin-delivery-devices-market-analysis
About Grand
View Research:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The company
provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
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