Published on : Dec 07, 2018
ALBANY, New York, Dec 07, 2018: ResearchMoz.us has announced the addition of a report, titled “Insulin Delivery Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018–2026”. The report on the global insulin delivery devices market is an elaborate study offering in-depth insights into the current outlook, adoption rates of key product types, notable opportunities, and recent product innovations. The study also evaluates key strategies adopted by various players consolidate their presence in various geographical regions and increase their footprints in the global insulin delivery devices market.
The global insulin delivery devices market is anticipated to garner a promising single-digit CAGR from 2018 to 2026. The growing prevalence of diabetes in various parts of the world is a primary factor driving the market. The rising demand for insulin pens among diabetics, attributable largely to the growing preference of non-invasive insulin delivery systems, is a crucial trend fueling the rapid evolution of the market.
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There has been a noticeable demand for insulin delivery devices among diabetic populations undergoing surgery, owing dysfunctional pancreas. The rising awareness about these delivery devices among diabetics is also bolstering the demand. Features such as higher safety, increased accuracy in dosing, and better stability are stoking the insulin delivery devices among patient populations, world over. The marked prevalence of pediatric diabetes is a notable factor imparting robust momentum to the expansion of the market.
The various key distribution channels comprise retail pharmacy, hospital pharmacy, diabetes clinics/centers, and online sales. Of these, the hospital pharmacy segment is anticipated to rise at substantial growth rates during the assessment period. This is attributed largely to the rise in diabetic patient population who are undergoing surgical procedures in hospitals. On the other hand, the online sales segment is expected to gain shares over the years, driven by growing preference of consumers toward e-commerce channels.
On the regional front, North America is expected to hold the leading share in the global insulin delivery devices market. A large part of the growth will be on account of favorable dynamics in the U.S., particularly the prevalence of diabetes and the presence of well-established diabetes care services in the country. In addition, encouraging reimbursement framework across the U.S. is also boosting the regional market for insulin delivery devices. Furthermore, substantial efforts by manufacturers to bring device innovations will also fuel growth.
The presence of a plethora of players of all sizes is what accounts for fair degree of fragmentation in the competitive landscape of the insulin delivery devices market. Leading players in the market include Insulet Corporation, Cellnovo Group SA., Becton, Dickinson and Company, Medtronic plc., Novo Nordisk A/S, SOOIL Developments Co., Ltd, MannKind Corporation, Ypsomed Holding AG, and Biocon Ltd.
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