Insulin Delivery Devices Market Size, Share, Growth, Trends, Consumption, Revenue, Company Analysis, Regional Insights and Forecast 2021-2028

Published Date : Nov 2020 | No. of Pages : 200 Pages | Category : Healthcare

According to the report, the global insulin delivery devices market size is projected to surpass around US$ 22 bn by 2028, expanding at a high CAGR of 9.5% from 2021 to 2028.

Diabetes is one of the leading causes of mortality worldwide. Rising number of diabetic patients and increasing obese population are the key factors stimulating the growth of the insulin delivery devices market. As per the International Diabetes Federation, the global diabetic population will reach upto 500 million by 2030. Growing geriatric population base, high adoption of sedentary lifestyle and growing awareness about diabetes treatment will further expand the insulin delivery device market size.

Rising awareness about advanced insulin delivery devices among diabetic patients will augment the demand for insulin delivering devices. The advance methods for insulin delivery include minimum invasiveness in an enhanced manner, reducing patients’ burden will positively affect the market growth over the upcoming period.

In recent years, funding in research towards development of advanced diabetic products has increased significantly, further boosting the industry growth. Continuous research update is been monitored in the insulin devices industry to offer optimal and cost-effective treatment to diabetic patients. For instance, the use of continues glucose monitoring (CGM) system and continuous subcutaneous insulin infusion (CSII) has increased widely owing to its improved clinical value, reduced risk of glycemia and improved hypoglycaemia control for type 1 and type 2 diabetic patients, positively affecting the diabetes treatment market growth. However, high cost of insulin delivery devices and lack of insurance coverage in developing countries will negatively impact the market expansion in the near future. During the forecast period, risk and complications associated with the insulin delivery will also hamper the market growth.

North America and Europe are expected to dominate the global market during the forecast period. The market in these regions is primarily driven by an increase in government initiatives and a highly structured health care industry. The market in Europe is projected to expand at a CAGR of 8% from 2021 to 208. The market in Asia Pacific is anticipated to expand at a high CAGR of 11% from 2021 to 2028. The insulin delivery devices market in Latin America is likely to expand at a moderate growth rate during the forecast period.

Increase in Preference for Insulin Pens to Boost Market

In terms of product, the insulin pens segment is projected to account for a dominant share of the global insulin delivery devices market during the forecast period. The segment is anticipated to expand at a CAGR of 8.7% from 2021 to 2028. High adoption rate, rising popularity among consumers, and user-friendly design of insulin pens are contributing to the significant revenue share of this segment. An increase in focus of manufacturers on promoting innovation and advanced technology is another key factor contributing to the high share. The insulin pumps segment held a major share of the market, due to an increase in preference for non-invasive insulin delivery systems. The insulin syringe and other segments accounted for around 28% share of the global insulin delivery devices market, in terms of revenue, in 2020.          

Hospital Pharmacy Segment to Expand at a Significant CAGR

Based on distribution channel, the hospital pharmacy segment accounted for a leading share of the global insulin delivery devices market in 2020. It is projected to lose market share by the end of 2028. The segment is anticipated to expand at a CAGR of 9% during the forecast period due to a rise in the demand for insulin delivery devices from a large diabetic patient population undergoing surgical procedures in hospitals. Online sales was a prominent segment of the market in 2020. This is due to an increase in the number of Internet users and rise in inclination toward e-commerce for the purchase of insulin delivery devices. This, in turn, is likely to drive the clinical laboratories segment during the forecast period.

North America to be a Highly Lucrative Region of the Insulin Delivery Devices Market

The insulin delivery devices market in North America is driven by high prevalence of diabetes in the U.S. and an increase in demand for reusable pens with advanced technology. North America has an edge in the global insulin delivery devices market. Moreover, major factors such as aging population, highly structured health care industry, and availability of well-defined reimbursement policies from public and private health insurance firms fuel the insulin delivery devices market in the U.S. North America is expected to dominate the market during the forecast period due to early availability of advanced technologies and higher penetration of diabetes care services across the region. Moreover, a large number of players in the U.S. are focusing on R&D in order to introduce new products. The U.S. is an early adopter of innovative products, as most pharmaceutical products are first launched in the country. This is likely to boost the market in the country in the near future.

Trend of Strategic Alliances with Local Companies to Strengthen Distribution Networks and Expand Geographic Presence

The global insulin delivery devices market is fragmented, owing to the presence of several small- and large-scale companies. However, the market is dominated by a few major players with a strong global presence. The report provides profiles of leading players operating in the global insulin delivery devices market. Key players in the market include B. Braun Melsungen AG, Novo Nordisk A/S, Eli Lilly and Company, Sanofi S.A., Medtronic plc., F. Hoffmann-La Roche Ltd., Becton, Dickinson and Company, Biocon Ltd., Owen Mumford Ltd., Ypsomed Holding AG, Cellnovo Group SA., Valeritas, Inc., Insulet Corporation, SOOIL Developments Co., Ltd, MannKind Corporation, and Tandem Diabetes Care, Inc..

Market Segmentation

Insulin Delivery Devices Market, by Type

  • Pens
    • Reusable Pens
    • Disposable Pens
  • Pumps
    • External/Tethered Pumps
    • Patch Pumps
  • Pen Needles
    • Standard Pen Needles
    • Safety Pen Needles
  • Syringes
  • Other Devices

Insulin Delivery Devices Market, by End User

  • Patients/Homecare
  • Hospitals & Clinics

Insulin Delivery Devices Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Rest of Europe (RoE)
  • Asia-Pacific
  • Rest of the World (RoW)

Report Scope

The Insulin delivery devices market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Insulin delivery devices market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Insulin delivery devices market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Insulin delivery devices market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Insulin delivery devices market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Insulin delivery devices capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Insulin delivery devices by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Insulin delivery devices market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Insulin delivery devices market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Insulin delivery devices market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Insulin delivery devices industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

Insulin delivery devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Insulin delivery devices market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Insulin delivery devices market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Insulin delivery devices market. These factors have benefited the growth of the global market for Insulin delivery devices. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Insulin delivery devices. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Insulin delivery devices are as follows:

  • History Year: 2017-2020
  • Base Year: 2020
  • Forecast Year 2021 to 2028

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2028);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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