-- Europe insulin delivery devices market was valued at USD 3 billion in 2017 and it expected to witness more than 5% CAGR from 2018 to 2024. High cost of insulin pumps and insulin pens is driving the insulin delivery devices; however, adoption of pumps is anticipated to surge in near future. Germany is the largest market places in Europe, accounting for nearly 30% share of total market.
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Product developments and introduction of new products in under-addressed geographical markets should propel industry growth in coming years. Moreover, initiatives by public sectors will also contribute to market expansion during the forecast period. Demand for minimally invasive delivery systems has been fueling the market growth and will continue to drive growth during projection years.
Insulin Delivery Devices market will exceed USD 19 billion by 2024; as per a new research report.
U.S. insulin delivery devices market held almost 40% of global market in 2017, owing to high diabetes prevalence, product technological advancements and adoption. During the foreseeable future, industry should grow with low-to-moderate rate because of entering into late market growth phase.
Insulin syringes market is forecast to grow with a modest CAGR of over 5%. More efficient and convenient alternatives to syringes will slowly but steadily replace the same, as the market expands.
Insulin pumps market is estimated to experience lucrative growth during the forecast timeframe. In fact, it should grow with fastest CAGR of over 7% in coming 5-6 years, making it second most preferred device in the delivery devices gamut.
High cost of insulin and certain delivery devices should continue hampering industry growth across the globe, especially in developing regions. Inadequate awareness about various insulin delivery methods further restrains business growth.
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Large diabetic population in emerging economies such as China and India will serve as potential consumer base in coming years. China insulin delivery devices market is most likely to be the fastest growing regional market in the world during the projection years. With diabetic population mounting to over 100 million and improving health care in the nation, the market is forecast to grow with exponential rate.
Some of the notable industry players are Sanofi, Ely Lilly, Novo Nordisk, Medtronic, Becton and Dickenson, Roche, Insulet Corporation, Ypsomed. Big established companies hold more than 70% share in total market. Small and medium players are shaping up but face tough competition from dominating counterparts. Technological novel products, geographical product launches and mergers and acquisitions are major strategies practiced by companies to expand their business and foothold in industry.
Table of Content:
Chapter 1. Methodology
Chapter 2. Executive Summary
Chapter 3. Insulin Delivery Devices Industry Insights
Chapter 4. Insulin Delivery Devices Market, By Product
Chapter 5. Insulin Delivery Devices Market, By Region
Chapter 6. Company Profiles
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