Insulin pens segment occupied the largest share of the insulin delivery devices market in 2016 . This is attributed to factors such aseasy to use , increase in popularity among consumers , easier to transport than conventional vial and syringes , enables more specific dosages , and less painwhile injecting insulin . Insulin pumps segment is anticipated to grow at highest CAGR throughoutthe forecast period . This is attributed to factors such as increasing pervasiveness of Type 1 diabetes and technological improvements in insulin pumps . Insulin syringes are equally effective as longer needles and are less intimidating .
Homecare segment held the major share of the global market in 2016 . This segment is projected to grow at the highest CAGR throughout the forecast period . This is attributed to factors such as less waiting time , reduction in number of visits to physicians or doctors , and reduced cost of treatment compared to hospitals and clinics .
North America held a major share of the overall market in 2016 . This is attributed to factors such as increasing prevalence of diabetes and high adoption of technologically advanced products in the region . Europe is the second largest market for these devices due to factors such as rise in diabetes in elderly population .
Asia-Pacific is poised to be the fastest growing segment over the forecast period , due to large number of collaborations and partnerships between international and local players in thisregion , large number of people suffering with diabetes , increased awareness amongst people , and growing adoption of insulin pens . For instance , in May 2016 , Medtronic collaborated with SingHealth , which isSingapore ' s largest group of healthcare institutions . This collaboration aims to provide trainings for physicians on the latest technology to manage diabetes .
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Some of the major companies include Becton , Dickinson and Company , Abbott Laboratories , Hoffmann- La Roche , Ltd ., Sanofi , Eli Lilly and Company , and Medtronic . The key strategy adopted by these companies is product development . For instance , Tandem Diabetes Care launcheda software update for Insulin Pump using a personal computer . The t : slim X2 Insulin Pump is currently the slimmest and smallest durable insulin pump in the market . Due to this software update , the company will now be able to provide new pump features to its customers regardless of pump insurance replacement cycle . Likewise , in September 2015 , Biocon launched Basalog One , a long acting basal insulin glargine . This product offers appropriate substitute to individual with diabetes using a syringe-vial mixture for insulin glargine .
Key Findings of the Research Study :
� Insulin pens segment held the major share of the global insulin delivery devices market in 2016 , as insulin pens are easier to transport than conventional vial and syringes .
� Homecare segment held the major share of the global market in 2016 , due to the high efficiency of the product with high comfort levels and better connectivity .