Insulin Delivery Devices Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

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Insulin Delivery Devices Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

Status : October, 2020 | Medical Devices | PPT format

Report Digest


Global Insulin Delivery Device Market: Snapshot

The increasing awareness among the global population and the rising incidence of diabetes have increased the demand for insulin delivery devices in the global healthcare sector. The development in the advanced medical devices with additional investment in the healthcare sector have uplifted the global insulin delivery device market. The main reason for the push given to the insulin delivery devices market is due to rising incidence of diabetes. Diabetes plays a critical role as it increase various other health concerns in a span of life, which includes blood pressure complications and cardiovascular problems.

Government agencies, reimbursement policies, and regulations have also supported the growth of insulin delivery device market globally. Additionally, rising adoption for home-based medical care has also boosted the market. This trend is expected to continue at a steady pace in the forthcoming years as well. The market has wide range of insulin delivery devices for long-term management that can be used for self-administration. Technological advancements have undoubtedly benefitted various medical conditions through home devices, which is especially true in the case of insulin devices. It has also minimized the complications faced after surgery.

Geographically, North America is the leading regional segment in the global insulin delivery device market due to high prevalence of diabetes in the region. Moreover, several companies have outperformed and are pushing this regional market to remain the lead Government initiatives and promising reimbursement conditions have surged the market in the U.S. and Canada as well.

Global Insulin Delivery Devices Market: Overview

Insulin delivery devices have become important in the global healthcare sector due to the steady rise in the prevalence of diabetes. The global insulin delivery devices market has been one of the prime beneficiaries of the steady rise in investment in the healthcare sector directed at the development of advanced medical devices. The ready availability of investment in recent years has led to a competitive market scenario in the insulin delivery devices sector at present and is likely to ensure sustained growth of the market in the coming years.

Global Insulin Delivery Devices Market: Key Trends

The rising prevalence of diabetes is the prime driver for the global insulin delivery devices market. The adherence to a sedentary lifestyle observed in developed as well as an increasing number of developing countries has led to diabetes emerging as one of the crucial healthcare concerns of our time. Diabetes is not only a concern on its own, but also plays a role in other lifestyle conditions such as cardiovascular and blood pressure problems. Due to this, management and eradication of diabetes is likely to remain a key driver for the global insulin delivery devices market in the coming years.

The growing regulatory support to the usage of insulin delivery devices is also likely to remain a key supporting factor in the development of the global insulin delivery devices market in the coming years. The reimbursement scenario regarding the use of insulin delivery devices has also strengthened in the past few years and the global insulin delivery devices market is thus likely to receive support from government agencies in the coming years.

The growing adoption of home-based medical care is another factor likely to boost the demand from the insulin delivery devices market in the coming years. Due to the long-term management needs of diabetes, self-administration of insulin via a range of insulin delivery devices has become the norm in diabetes treatment. Due to the ease of using most modern insulin delivery devices and the convenience of using them at one’s own home, homecare accounted for a dominant share in the global insulin delivery devices market in 2016. This is likely to remain the norm in the global insulin delivery devices market in the coming years.

Global Insulin Delivery Devices Market: Market Potential

The key development trend in the global insulin delivery devices market is technological progression. Steady advancement in insulin delivery devices has been necessary due to the need to avoid complicated operating procedures. Since the global insulin delivery devices market receives significant demand in home-based management of diabetes, devices that can be operated by laypeople hold an important role in the growth of the insulin delivery devices market.

The global insulin delivery devices market is set for revolutionary changes in the coming years thanks to the release of Medtronic’s MiniMed 670G, an automated insulin delivery device approved by the FDA in September 2016. The device, fixed on to the patient’s body, measures the patient’s blood glucose levels and releases small amounts of insulin at regular intervals to maintain a stable condition. While the device is useful only against type 1 diabetes, it represents a significant step forward for the global insulin delivery devices market.

Global Insulin Delivery Devices Market: Geographical Dynamics

The global insulin delivery devices market is likely to be dominated by North America in the coming years due to the high prevalence of diabetes and the strong presence of several leaders in the medical devices industry in the region. The promising reimbursement scenario in the U.S. and Canada is another key driver for the insulin delivery devices market in the region.

Global Insulin Delivery Devices Market: Competitive Dynamics

The global insulin delivery devices market is led by companies such as Medtronic plc, Novo Nordisk, Tandem Diabetes Care, Inc., Eli Lilly and Company, Biocon Ltd., and Becton, Dickinson, and Company.

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?