Insulin Delivery Devices (Idd) Market Clinical Applications, Demand, scope on Key Developments Trends
Global Insulin Delivery Devices (Idd) Market Size, Application And Trends Analysis By Type (Insulin Syringes, Pen, Insulin Pumps, Insulin Jet Injectors, Pen Needles And Others), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Sales And Diabetes Clinics/ Centers), End User (Hospitals & Clinics, Homecare And Specialty Centres) And Region (Americas, Europe, Asia-Pacific And Middle East & Africa) - Forecast Till 2025
Overview:
The insulin delivery devices market is growing at a rapid pace; mainly due to the rapidly increasing number of diabetic populations. Insulin delivery devices are adaptable & lifestyle friendly, and hence these are garnering huge popularity and advancement due to its programmable physiologic technique for the delivery of insulin.
The current research and development activities that are coordinating the two technologies, "sensor-augmented" and "sensor-driven" to develop pumps with completely automated & independent sensing and delivery system are expected to escalate the market on the ascending global heights.
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Acknowledging the burnished growth, the market perceives currently, Market Research Future (MRFR) in its recently published study report asserts that the global insulin delivery devices market is expected to accrue exponentially by 2020, registering 7.9 % CAGR between 2014 and 2020.
Additional factors fostering the growth of this market include the rise in the obese population, the prevalence of diabetes that is rising significantly, and the spreading awareness towards diabetic care, worldwide. The wide uptake of technological advancements in drug delivery devices is acting as a major tailwind that is pushing up the market growth.
The number of the population diagnosed with diabetes is projected to increase at a tremendous rate. Thus, if these trends linearly continue over the next couple of years, it will dramatically increase the number of populations diagnosed with diabetes which, in turn, will substantially foster the demand for insulin delivery devices.
With the rising number of diabetic patients, the demand for insulin delivery devices is expected to surge, thus resulting in exploding the size of the global insulin pumps market.
Global Insulin Delivery Devices Market - Segments
The MRFR analysis is segmented into two key dynamics for the convenience of understanding;
By Type : Insulin Syringe, Insulin Pumps, Insulin Pens, Insulin Jet Injectors and others (jet injectors, transdermal patches, and inhalers).
By Regions: Europe, North America, Asia Pacific, and the Rest-of-the-World (RoW).
Insulin Delivery Devices Market - Geographical Analysis:
The well-developed regions of North America and Europe account for the leading markets for insulin delivery devices, globally. The developed economy allows these regions to have an edge over other regions, in every aspect, be it technology or healthcare. Also, factors such as the growing diabetic population, increasing technological advancements in the healthcare industry, and the faster uptake of technology are driving the insulin delivery devices market in these regions.
The U.S backed by a higher GDP, higher per capita healthcare expenses, and technological advancements, is expected to lead the insulin delivery devices market in North America. Whereas, Germany will lead the European market, heading with the presence of its large medical device industry.
Insulin delivery devices market in the Asia Pacific region is growing rapidly owing to the huge patient population of Type -1 diabetes and the rising economy in countries such as China, Vietnam, Indonesia, and India.
India, due to the presence of a greater number of type-2 diabetes patients is expected to dominate the regional market for insulin delivery devices. Simultaneously, the demand for quality devices in healthcare rising alongside the rapidly developing healthcare technology is expected to lead the market growth in the APAC region.
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Key Players:
The fervent players leading the global insulin delivery devices market include Sanofi, Novo Nordisk, Eli Lilly, Medtronic, Copernicus, Beta Bionics, InsuJet, MannKind, SHL Group, Roche, and Becton Dickinson (BD) among others.
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