Insulin Delivery Devices Market Research Report - Global Forecast to 2030

Insulin Delivery Devices (Idd) Market Size, Application And Trends Analysis By Type (Insulin Syringes, Pen, Insulin Pumps, Insulin Jet Injectors, Pen Needles And Others), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Sales And Diabetes Clinics/ Centers), By End User (Hospitals & Clinics, Homecare And Specialty Centres) - Forecast till 2030

ID: MRFR/MED/0352-CR | August 2019 | Region: Global | 77 Pages         

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Insulin Delivery Devices (Idd) Market

Insulin Delivery Devices (Idd) Market is expected to register a CAGR of 7.4% to reach USD 31445.06 Million by 2027.

Segmentation
By Type Insulin Syringes Insulin jet injectors Pen Needles Reusable Insulin Pens Disposable Insulin Pens Insulin Pumps External/Tethered Pumps Patch Pumps
By Distribution Channel Hospital Pharmacy Retail Pharmacy Online Sales Diabetes Clinics/Centers
By End User Hospitals & Clinics Homecare Specialty Centers
Key Players
Companies Profiled   Becton    Dickinson and Company   Novo Nordisk A/S   Medtronic PLC   Sanofi   Eli Lilly   Johnson and Johnson   Tandem Diabetes Care Inc.   Biocon Limited   Hoffmann-La Roche   Braun Melsungen AG
Drivers
Market Driving Forces   higher prevalence of diabetes   Rising consumer awareness
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Insulin Delivery Devices Market Overview


Market research Future (MRFR) expects the Insulin Delivery Devices Market to hit USD 31445.06 Million by 2030, in view of the surging prevalence of diabetes and hyperglycemia, surging use of self-injectable devices and the rise in FDA approvals.


Market Dynamics


Drivers


Escalation in Chronic Disease Cases to Foster Growth


One of the top reasons for the growing insulin delivery devices market share worldwide is the rising prevalence of diabetics, on account of factors like surge in obesity, unhealthy lifestyle and aging. Obesity is considered to be one of the foremost factors that elevate the risk of diabetes, while being overweight also worsens the condition. The obese population has been expanding by huge proportions, leading to higher prevalence of diabetes. This scenario has also sparked the interest of players, researchers and others in diabetes-related R&D activities, which can translate into major growth over the ensuing period.


The rapidly heightening demand for cutting edge insulin delivery devices is complementing the launch of innovative portable pumps and pen devices, which can also be a key growth booster.  Rising consumer awareness about the latest insulin delivery devices should also be favorable for the global market. The mounting preference for homecare settings, especially among the geriatric population pool can be one of the prominent insulin delivery devices market trends that can foster growth.


Opportunities


Rising Healthcare Spending in the Middle East to Offer Opportunities


Surging healthcare spending in the Middle East and rising collaborations between firms of private and public sectors to cater to the escalating diabetes needs can be significant opportunities that can emerge in the insulin delivery devices market during the evaluation period.


Restraints


Low GDP of Underdeveloped Countries to Discourage Patients


Lower GDP of developing and underdeveloped countries weakens the quest among players to focus on pioneering treatment options, while also discouraging people to go for the available treatment, which is expected to reflect negatively on the insulin delivery devices market in the coming years.


Challenges


Strict Rules Regarding Product Approval to be a Huge Challenge


Strict government norms and rules that control product approval processes along with the significant costs related to insulin analogs within diabetes care management can be major challenges faced by top companies in the global insulin delivery devices market.


Cumulative Growth Analysis


Market Size to Expand at a Solid Rate


MRFR confirms that the insulin delivery devices market can record a decent growth rate of 7.85% from 2019 to 2025 (analysis period), on account of favorable reimbursement schemes across countries and the presence of supportive governments.


COVID-19 Analysis


The COVID-19 outbreak has resulted in shortage of a number of critical medical devices and various medical supplies, while the primary focus of the healthcare industry is on bringing down the SARS-CoV-2 cases. The novel coronavirus and the global lockdown have been detrimental for the manufacturing facilities with all the operations temporarily shut down. In view of the devastating effects of the pandemic, players are now focusing more on strengthening their supply chains and accelerating the manufacturing of a broader range of insulin delivery devices, in a bid to prevent further revenue losses.


Segment Overview


Insulin Pens Note High Demand as Consumers Prefer their User-Friendly Design


The insulin delivery devices market, in terms of type, covers insulin pens, insulin syringes, insulin pumps, pen needles, insulin jet injectors, and others. Insulin pens are currently leading the global insulin delivery devices industry, in view of various advantages they offer compared to other devices. Factors like its high usage, user-friendly design, and the resultant increase in its popularity among patients are responsible for the segmental growth.


Online Sales to Shoot Up as Consumers Turn Tech-Savvy


Distribution channels considered in the report are retail pharmacy, hospital pharmacy, diabetes clinics/centers and online sales. Online sales have short up in the past few years, due to the rising internet use and mobile-based applications among consumers, the provision of time saving and the availability of several attractive offers.


Homecare Secures the Leading Position


Some of the key insulin delivery devices market end-users studied in the report are home care, specialty centers and hospitals & clinics. Homecare is the biggest grossing category, by virtue of soaring awareness level about diabetes care along with the rising use of insulin delivery devices among patients that prefer home settings.


Regional Analysis


The Americas to Take the Lead


The American insulin delivery devices market can project the highest growth in the following years, given the strong demand for advanced insulin delivery devices as a result of high awareness level and considerable healthcare spending. Americas is most likely expected to touch USD 21,804.56 million by 2025, and progress at a rate of 7.85% between 2019 and 2025. The most notable growth will be witnessed by the North America insulin delivery devices market, thanks to the thriving biotechnology industry and the presence of an advanced healthcare sector. The substantial growth of the insulin storage devices markets as well as the jet injector device market size, in addition to rise in FDA approvals encouraging the commercial launch and availability of various insulin delivery devices in the US also foster market demand.


Europe to Emerge as the Second Most Lucrative Market


Europe has remained the second in lead since 2017, thanks to the rigorous research and development (R&D) activities in the diabetes field, high healthcare funding, and the rising use of innovative technologies in healthcare. Europe insulin delivery devices market also benefits from the significant rise in lifestyle-related disorders, surge in awareness programs with regard to diabetes and the considerable adoption of modern medical devices in the region also bolster market growth.


Insulin Delivery Devices Market Competitive Landscape


Firms Focus on Product Innovation and New Launches


Novo Nordisk A/S is a renowned insulin delivery devices company, with the prime objective of offering patients access to low priced diabetes care across the world. The firm specializes in developing advanced insulin delivery devices that are safe, reliable and effective, with major focus on regions with no access to timely healthcare. A few other focus areas are research, development and production operations, while forming alliance with other companies to further enrich its expertise in insulin delivery device field.


List of Key Companies Covered in this Report



  • Becton, Dickinson and Company

  • Novo Nordisk A/S

  • Medtronic PLC

  • Sanofi

  • Eli Lilly

  • Johnson and Johnson

  • Tandem Diabetes Care Inc.

  • Biocon Limited

  • Hoffmann-La Roche

  • Braun Melsungen AG


Recent Developments



  • December 2020 – Lilly has collaborated with Ypsomed to develop its latest insulin pump and automated insulin delivery (AID) system in the US. The smartphone-based system will have YpsoPump’s continuous glucose monitor backed by a controlling algorithm that helps automate the dosing of the insulin.



  • December 2020 – Roche has partnered with Diabeloop to accelerate insulin pump therapy management. Roche believe that this partnership could give rise to a host of opportunities to bring down the issues related to frequent insulin dose adjustment among diabetic patients, while also boosting therapy outcomes.



  • December 2020 – Medtronic has launched InPen, which has real-time Guardian Connect Continuous Glucose Monitoring (CGM) data. It is the first FDA-approved smart insulin pen in the market catering to patients people on MDI/multiple daily injections.


Report Overview


Segmentation Table


Insulin Delivery Devices Market, By Type



  • Insulin Syringes

  • Insulin jet injectors

  • Pen Needles

  • Reusable Insulin Pens

  • Disposable Insulin Pens

  • Insulin Pumps

  • External/Tethered Pumps

  • Patch Pumps


Insulin Delivery Devices Market, By Distribution Channel



  • Hospital Pharmacy

  • Retail Pharmacy

  • Online Sales

  • Diabetes Clinics/Centers


Insulin Delivery Devices Market, By End User



  • Hospitals & Clinics

  • Homecare

  • Specialty Centers



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 31445.06 Million
  CAGR   7.48% CAGR
  Base Year   2019
  Forecast Period   2020-2030
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, By Distribution Channel and By End User
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Sanofi, Novo Nordisk, Eli Lilly, Medtronic, Copernicus, Beta Bionics, InsuJet, MannKind, SHL Group, Roche, and Becton Dickinson (BD)
  Key Market Opportunities   The demand for quality devices in healthcare rising alongside the rapidly developing healthcare technology is expected to lead the market growth.
  Key Market Drivers

  • Rising consumer awareness about the latest insulin delivery devices.
  • Rise in FDA approvals encouraging the commercial launch and availability of various insulin delivery devices


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    Frequently Asked Questions (FAQ) :

    The global insulin delivery devices market is projected to reach a valuation of USD 31445.06 MN by 2030.

    The global insulin delivery devices market is projected to grow at approximately 7.48% CAGR during forecast period (2020-2030).

    North America holds the largest share in the global insulin delivery devices market followed by Europe and Asia Pacific, respectively.

    Novo Nordisk A/S, Medtronic PLC, Becton, Dickinson and Company, Sanofi, Johnson and Johnson, Eli Lilly, Tandem Diabetes Care, Inc., F. Hoffmann-La Roche, Biocon Limited, and B. Braun Melsungen AG, are some of the major players operating in the insulin delivery devices market.