Bizizz Market Research has recently published a research report, “Insulin Delivery Devices Market Devices Type (Pen Needles (Safety Pen Needles and Standard Pen Needles), Pumps (Patch Pumps and External Pumps), Pens (Disposable Pens and Reusable Pens), Syringes, and Others), End User (Hospitals & Clinic and Homecare), and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global Insulin Delivery Devices Market was valued at US$ XX Bn in 2018 and it is anticipated to Reach at market value of US$ 11.6 Bn by 2027, witnessing a CAGR of 7.1% during the forecast Period. Key drivers of the market are mounting pervasiveness of diabetes and obesity all over the world
One of the principal factors contributing to the growth of the market is the surging wide variety of diabetics due to aging, obesity, and unhealthy lifestyles. Obesity is believed to be a primary thing main to the development of diabetes in individuals. According to the WHO, in 2014, over 1.9 billion people were identified to be overweight, of which, around 600 million humans have been obese. Risk factors, such as obesity and being obese are particularly linked to the incidence of diabetes, which is rising by way of epidemic proportions, as a result engendering a excessive incidence of diabetes. Consequently, the massive population troubled with diabetes is driving the market for insulin delivery devices.
The Insulin Delivery Devices market is anticipated to register a CAGR of over 7.1% during the forecast period.
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By Device Type, Insulin Pen Segment held a prominent share in Global Insulin Delivery Devices Market in 2018.
Insulin pens held the greatest share in the insulin transport gadgets enterprise in the year 2015 owing to its advantages over other products. Factors such as its high adoption rate, undemanding design, and rising recognition amongst consumers contributed to the largest revenue share of this segment. The developing focal point of producers on merchandising innovation and advancements is any other fundamental aspect yielding the high share.
By End Use, Homecare Segment held a prominent share in Global Insulin Delivery Devices Market in 2018.
Homecare was once the largest grossing as properly as the fastest developing phase in 2018. It is anticipated that the domestic care section will keep its function in the market at some stage in the forecast period. The key factors resulting in significant growth of the section are growing consciousness of diabetes care and developing adoption of insulin transport devices amongst patients for home use.
North America is anticipated to dominate the Global Insulin Delivery Devices Market during the Forecast Period
North America is estimated to reign the insulin shipping units industry in the year 2015. The rising diabetic population and the accessibility of technologically superior devices are the elements contributing to the excessive market growth in North America. According to facts through CDC in 2016, around 29 million humans in the U.S. are nevertheless suffering from diabetes, amongst them 21.0 million patients were diagnosed, whereas 8.1 million patients remained undiagnosed. Also, according to Canadian Diabetes Association, the occurrence of diabetes is developing in Canada and it is estimated to reach round 5 million by using 2025. Thus, the massive patient base struggling with diabetes and its growing incidence is expected to raise the growth in this region.
Global Insulin Delivery Devices market was highly consolidated with key players accounting for significant share in 2018. Prominent players operating in the Global Insulin Delivery Devices market are: Ypsomed, Sanofi, Medtronic, Becton, Insulet Corporation, Dickinson and Company, Roche, Novo Nordisk, and Eli Lilly., among others.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
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e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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