Knowledge Sourcing Intelligence announces the publication of a new analysis report on the market of “Insulin Delivery Devices Market” - which is forecasted from 2020 to 2027”.
The Global Insulin Delivery Devices Market is estimated to reach a market size worth US$18.085 billion by 2027
The prime factors propelling the growth of the insulin delivery devices market are the growing prevalence of diabetes, awareness about insulin delivery devices, the rise in the number of vendors, R&D activities, technological advancements in products, and the easy availability of advanced insulin delivery products.
As per the report, the insulin delivery devices market is expected to grow rapidly during the forecast period.
Insulin is a hormone that controls blood sugar levels and is extremely important in the management of diabetes. People with diabetes administer an insulin dose using one of the many available insulin delivery devices. It is not practical to consume insulin as a tablet or in liquid form because, once it enters the bloodstream, it is subject to degradation by digestive enzymes and fluids. As a result, injection or infusion is used, which frequently enters the fatty tissue. In order to administer insulin to the desired place, many different devices are used.
Syringes, pens, jet injectors, oral insulin, pumps—there are some of the different kinds of insulin delivery systems out there. Furthermore, diverse levels of availability and development of inhaled insulin and other novel approaches to insulin treatment exist globally. Utilizing a needle and syringe, direct subcutaneous insulin injection is still the most popular delivery method. Although external insulin pumps are still difficult to obtain and expensive, many diabetics find them to be precise, accurate and adaptable insulin administration systems that offer tight blood glucose control. Patients can inject insulin when they're on the go or whenever it's convenient for them thanks to the highly helpful insulin pens. Either disposable single-use insulin pens or insulin pens with replaceable insulin cartridges are available.
The insulin delivery devices market has been categorized on the basis of type, application, end-user and geography.
By type, the market has been classified based on syringes, insulin pumps, inhalers and others. Due to factors such as consumer desire for insulin pens, the numerous advantages they offer at reasonable prices, and technological improvements, among others, the market share for insulin pens is substantial. Additionally, it provides a number of clinical benefits such as improved accuracy, usability, quality of life improvement, patient satisfaction, and adherence.
On the basis of application, the classification has been done into Type I Diabetes, Type II Diabetes and Gestational Diabetes
The market has been segmented based on end-users, including hospitals and clinics, ambulatory care facilities, and home care settings. Due to significant advancements, the availability of simple-to-use devices in the home care segment, the growing adoption of insulin delivery devices, the pressure to reduce additional healthcare costs associated with managing diabetes, and other factors, the market share of the home care segment is significant.
Geographically, North America is expected to hold a sizable share of the insulin delivery device market. Due to factors including the simple availability of insulin delivery devices and the high level of consumer awareness, North America is anticipated to account for a sizeable percentage of the market. The United States' fast rising incidence and prevalence of diabetic patients as well as healthcare spending lead to an increase in the use of diabetes care products. This market share can also be attributed to a number of other variables, including the widespread use of sophisticated insulin delivery systems, the rising cost of healthcare, and the adoption of helpful policies by national regulatory bodies.
As a part of the report, the major players operating in the Insulin Delivery Devices Market, that have been covered are Novo Nordisk A/S, Beckton, Dickinson and Company, Medtronic, Sanofi, Eli Lilly and Company, Ypsomed AG, Biocon Limited, Insulet Corporation, Tandem Diabetes Care, Inc. and F. Hoffman-La Roche Ltd.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/global-insulin-delivery-devices-market