Global Insulin Delivery Devices Market to 2025
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According to a new market research study titled ‘Insulin Delivery Devices Market to 2025 -
Global Analysis and Forecasts by Product and End User, the global insulin delivery devices
market was valued at US$ 11,869.0 Mn in 2017 and is estimated to reach US$ 22,830.0
Mn by 2025. The market is estimated to grow with a CAGR of 8.7% from 2018-2025.The
report highlights the trends prevalent in the global insulin delivery devices market and the
factors driving the market along with those that act as deterrents to its growth. The
increasing prevalence of diabetes, rapid growth in the geriatric population and increasing
technological advancement are the other factors that are anticipated to upsurge the market
growth of insulin delivery devices. However, the factors such as high cost of insulin delivery
devices and complications & risk associated with the delivery of insulin are expected to act
as a major challenges hindering the market growth at a certain extent.
Global insulin delivery devices market, based on product segmented into insulin pens,
insulin pumps, insulin syringes, pen needles and others. In 2017, insulin pens segment
held the largest share of the market by product type. The insulin pumps segment is
expected to grow at the fastest rate during the coming years.
The increasing rate of obesity, sedentary lifestyle and improper diet play a major role in
increasing diabetes among the population worldwide. Physical activity is important to
maintain the blood glucose level. Lack of exercise and unhealthy diet such as diet high in
fat and calories increase the risk for the development of obesity and diabetes. Obesity is
one of the major issue that affect people of all ages and incomes globally. According to
World Health Organization (WHO), in 2016, more than 1.9 billion adults aged 18 years and
older were overweight. And out of these over 650 million adults were obese. Hence, this is
expected to increase the demand of insulin delivery devices in the coming years.
The major players operating in the insulin delivery devices market include BD, B. Braun
Melsungen AG, Insulet Corporation, Medtronic, Tandem Diabetes Care, Inc., Eli Lilly and
Company, Biocon, Owen Mumford, Ltd., Sanofi among others. The market players are
focused towards bringing new and innovative product launches to sustain their position in
the market. For instance, in February, 2018, Medtronic launched MiniMed (TM) 670G
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