Insulin delivery systems are used to inject measured doses of insulin through the skin. Insulin delivery system includes various devices such as insulin pump, insulin pen, insulin jet injector, insulin syringe, and insulin inhalers.
The global insulin delivery systems market is estimated to reach a value of over US$ 11,417.1 Mn in 2017 at a CAGR of over 7.0% over the forecast period.
High prevalence rate coupled with increasing incidence of diabetes, and technological advancements in insulin delivery equipments are the key factors driving growth of the global insulin delivery systems market. Also, concerns regarding obesity among people may led to cause diabetes is another factor expected to propel growth of the global insulin delivery systems market over the forecast period. In addition, favourable government support for product approval is another factor expected to fuel growth of the global insulin delivery devices market.
However, high cost associated with development of insulin delivery systems is a key factor restraining growth of the global insulin delivery systems market. Furthermore, lack of reimbursement facility is another factor expected to hamper growth of the global insulin delivery market in developing region over the forecast period.
The global insulin delivery market report has been segmented on the basis of product, distribution channel, and region. Among product segments, the insulin pen segment is projected to witness highest market share in the global insulin delivery market over the forecast period. On the basis of region, the global insulin delivery systems market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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The market in North America expected to dominate the global insulin delivery systems market and expected to account for highest market share in terms of revenue owing to Increasing prevalence of diabetes and technological advancement in the insulin delivery systems in countries in the region. The market in Europe expected to account for the second-highest revenue share contribution to the global market followed by market in Asia Pacific, Latin America, and Middle East & Africa respectively, owing to factors such as increased disposable incomes, and government initiative to increase awareness about various insulin delivery systems in countries in the region.
Prominent players in the global insulin delivery systems market include Becton, Dickinson and Company, Eli Lilly and Company, Medtronic plc, Sanofi, F. Hoffmann-La Roche Ltd., Cellnovo Limited, Insulet Corporation, Tandem Diabetes Care, Inc., Companion Medical, Inc., and Copernicus Sp. z o.o.