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Insulin Delivery Devices Market by Type (Insulin Pens (Reusable, Disposable)

Business Oct 27, 2021 at 12:25

Insulin Delivery Devices Market by Type (Insulin Pens (Reusable, Disposable)

Insulin Pumps (External/Tethered, Patch), Pen Needles (Standard, Safety), Insulin Syringes) and End User (Patients/Homecare, Hospitals & Clinics) – Global Forecast to 2021

The insulin delivery devices market is projected to reach USD 17.85 Billion by 2021 from USD 11.54 Billion in 2016, growing at a CAGR of 9.1% during the forecast period. The growth of the overall market can be attributed to the favorable reimbursement scenario and strong government support in selected countries, technological advancements in insulin delivery devices, growing diabetic population, and rising awareness about insulin delivery devices.

In the coming years, the market is expected to witness the highest growth rate in the Asia-Pacific region. Factors such as rising prevalence of diabetes, high adoption of insulin pens, and government initiatives in Singapore are expected to support the growth of the Asia-Pacific insulin delivery devices market.

On the basis of type, the vices market is segmented into pens, pumps, pen needles, syringes and other devices (jet injectors, transdermal patches, and inhalers). The insulin pens segment is further fragmented into disposable pens and reusable pens. In 2016, the reusable segment commanded the largest share of insulins pens market. The pumps segment is further divided into external/tethered pumps and patch pumps. In 2016, the external/tethered pumps segment commanded the largest share of the insulin pumps market. However, the patch pumps market is expected to grow at the highest CAGR during the forecast period. The pen needles market is segmented into standard pen needles and safety pen needles. In 2016, the standard pen needles segment is commanded the largest share of the pen needles market.

On the basis end user, the insulin delivery devices market is segmented into patients/homecare and hospitals & clinics. In 2016, the patients/homecare segment commanded the largest share of the market.

In 2016, North America accounted for the largest share of the global market. This growth can be attributed to the rising prevalence of diabetes, favorable reimbursement scenario in the U.S. and Canada, growing venture capital investments and issuance of IPOs in the U.S., and FDA approvals to increase the commercial availability of insulin delivery devices in the U.S.

Key players in the global insulin delivery devices market include Becton, Dickinson and Company (U.S.), Novo Nordisk A/S (Denmark), Ypsomed Holding AG (Switzerland), Medtronic plc (Ireland), Animas Corporation (U.S.), Tandem Diabetes Care, Inc. (U.S.), Sanofi (France), Biocon Ltd. (India), Eli Lilly and Company (U.S.), and Insulet Corporation (U.S.).

Company Information

The insulin delivery devices market is projected to reach USD 17.85 Billion by 2021 from 11.54 Billion in 2016, growing at a CAGR of 9.1% during the forecast period. The major drivers in the market include favorable reimbursement scenario and government support in selected countries, technological advancements in insulin delivery devices, and growing diabetic population.

The global market is categorized on the basis of type, end user, and region. On the basis of type, the market is categorized into pens, pumps, pen needles, syringes, and other devices (jet injectors, transdermal patches, and inhalers). In 2016, the insulin pens segment accounted for the largest share of the global insulin delivery devices market. The insulin pens segment is further divided into reusable pens and disposable pens. In 2016, the reusable segment commanded the largest share of insulin pens market. The pumps segment is further segmented into external/ tethered pumps and patch pumps. In 2016, the external/tethered pumps segment accounted for the largest share of the insulin pumps market. Increasing prevalence of type 1 diabetes, rising diabetic healthcare expenditure, and availability of reimbursement are the factors attributing to the growth of this segment.

On the basis of end user, the market is segmented into patients/homecare and hospitals & clinics. In 2016, the patients/homecare segment commanded the largest share of the insulin delivery devices market and is expected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the increasing diabetic population and rising healthcare expenditure.

In 2016, North America accounted for the largest share of the global insulin delivery devices market. The large share of this segment can be attributed to the rising prevalence of diabetes and favorable reimbursement scenario in the U.S. and Canada, growing venture capital investments and issuance of IPOs in the U.S., and FDA approvals to increase the commercial availability of insulin delivery devices in the U.S.