Insulin Delivery Devices Market Analysis By Product Type
(Jet Injectors, Syringes, Pumps, Insulin Pens) And Segment
Forecasts to 2020
Rapidly increasing global diabetic patient base coupled with increasing awareness
about the diagnosis of diabetes are the major factors driving the insulin delivery
devices market. Addionally, increasing global geriatric population base suffering
from diabete coupled with incidences of diabetes in children and women is
propelling growth of this market. The rising prevalence of diabetes is a direct
consequence of increasing incidences of obesity globally. Furthermore, the
introduction of efficient and technologically advanced devices for the delivery of
insulin such as portable pumps are also fueling the global insulin delivery devices
market. Artificial pancreas and home infusion therapy are gaining popularity in the
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On the basis of product, insulin syringes accounted for the largest market share in
terms of revenue, as of 2014. The factors responsible for this dominance includes
ease of usage features such as small needles which are less invasive to the patient.
Syringes are comparatively cheaper than other delvery devices and the cost is
covered by insurance providers in developed nations such as U.S. The insulin pen
segment is anticipated to witness high growth over next few years owing to its
accessibility and compact design.
Geographically, owing to increasing incidences of obesity and diabetes, North
America held largest revenue share in the market, as of 2014. Adiitionally,
increasing healthcare expenditure levels coupled with awareness levels amongst
patients are further expected to boost regional growth of this market. Asia Pacific
is anticipated as the fastest growing region due to rapidly rising geriatric base and
increasing incidences of diabetes in this region. Rising awareness regarding the
treatment of diabetes and government initiatives in emerging countries such as
India and China are also anticipated to boost the growth of insulin delivery devices
market in Asia Pacific.
Some major players in the global insulin delivery devices market include Abbott
Laboratories, Eli Lilly and Company, Becton, Novo Nordisk A/S, Sanofi,
Dickinson and Company, Medtronic Inc. and F. Hoffmann La Roche. The global
insulin delivery device maret is highly competitive in nature.
These players are adopting various competitive strategies such as mergers and
acquisitions, geographical expansion and patient awareness programs in
collaboration with healthcare providers to increase market penetration in the
insulin delivery devices market.
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