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The global insulin delivery devices market to reach USD 33.19 Billion by 2028 at a CAGR of 9.31%, according to the latest report by Reports and Data
NEW YORK CITY, NY, UNITED STATES, September 9, 2022 /EINPresswire.com/ -- The global insulin delivery devices market to reach USD 33.19 Billion by 2028 at a CAGR of 9.31%, according to the latest report by Reports and Data. Increasing incidences of diabetes, advancement in healthcare infrastructure, and increasing adoption and demand of insulin delivery devices for diabetic care, are some key factors expected to drive market revenue growth over the forecast period. Rapidly increasing geriatric population in developing countries, is further drive the market growth.
According to recent survey, about 463 million people across the world are suffering from diabetes. Approximately 4.2 million deaths are due to this chronic disorder every year impacting heart, kidneys and liver. Improper secretion of naturally occurring hormone, insulin leads to development of diabetes. Insulin delivery devices allow insulin to enter into the bloodstream of diabetic patients non-invasively. Insulin delivery devices becomes necessity of patients suffering through type-1 diabetes. There are various types of delivery devices like insulin pens, syringes, inhalers, pumps, injectors, etc. Ongoing research to design and manufacture advanced products has projected the market growth.
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Rising diabetic population in developing countries, and awareness of using innovative insulin delivery devices are some key factors expected to boost market revenue growth over the forecast period. There are lucrative opportunities for the market contributors operating in the global insulin delivery devices market. Increasing government spending on healthcare infrastructure, and favourable reimbursement policies are contributing to market growth going ahead. However, high costs, lack of awareness, and stringent government regulations regarding insulin delivery devices, are the major factors expected to hamper the global insulin delivery devices market growth to a certain extent over the forecast period.
Some Key Highlights from the Report:
Insulin pens segment is expected to account for a largest revenue share in the global market. Increasing adoption and popularity of insulin pens is due to its convenience, user-friendliness, and accuracy. Key market manufacturers are focusing on production of advanced products such as, smart insulin pens to meet the increasing demand from diabetic patients. Homecare segment is expected to register robust revenue in the global market over the forecast period due to increasing awareness of using portable insulin delivery devices at home. Diabetes care at home using these use-friendly insulin devices is extremely beneficial for elderly people, reducing trouble of going to hospitals and clinics. North America region is expected to account for a largest revenue share in the global insulin delivery market during the forecast period. The factor responsible for the market growth is increasing prevalence of diabetes due to obesity, unhealthy eating habits, and lack of physical exercise. Moreover, advanced healthcare infrastructure, Increasing knowledge about insulin devices, and favorable reimbursement policies are also contributing to the market growth. Asia Pacific market revenue is expected to expand significantly over the forecast period due to growing geriatric population, rising number of diabetic population, growing awareness about insulin delivery devices. In addition, presence of key manufacturers of insulin delivery devices, is the factor responsible for the market growth.
The report also focuses on details of each market player including its global position, financial standing, revenue generation, company overview, and product & service portfolio. The Insulin Delivery Devices market is extremely competitive and consists of several key players at the regional and global levels. Key players are focused on adopting various strategies such as new product launches, mergers and acquisitions, investments in R&D, partnerships, joint ventures, and collaborations to strengthen their market position and enhance their product portfolio.
Leading companies operating in the market are:
Sanofi Diabetes, Novo Nordisk, Omnipod Insulin Management, Eli Lilly and Company, Gerresheimer, Johnson and Johnson, Becton Dickinson, and Company, F. Hoffmann-La Roche AG, B.Braun, Tandem Diabetes Care, Biocon Limited, and Medtronic Plc.
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The report also offers detailed insights about market segmentation based on type, application and regional bifurcation:
Insulin Delivery Devices Market Segmentation:
Type Outlook (Revenue, USD Billion; 2018 – 2028)
Insulin Syringe Insulin Pens Disposables Reusable Insulin Jet Injectors Insulin Pumps Tethered Patch Insulin Needles Insulin Inhalers External Insulin Implantable Insulin
Distribution Channels Outlook (Revenue, USD Billion; 2018 – 2028)
Hospital Pharmacies Retail Pharmacies Online Pharmacies
End Use Outlook (Revenue, USD Billion; 2018 – 2028)
Hospitals Clinics Ambulatory Care Centers Homecare
North America (U.S., Canada, Mexico) Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe) Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific) Latin America (Brazil, Rest of LATAM) Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of the Middle East & Africa)
Some essential purposes of the Insulin Delivery Devices market research report:
Vital Developments: Custom investigation provides critical improvements to the Insulin Delivery Devices market, including R&D, new item shipment, coordinated efforts, development rate, partnerships, joint efforts, and local development of rivals working in the market on a global scale and regional. Market Characteristics: The report contains Insulin Delivery Devices market highlights, income, limit, limit utilization rate, value, net, creation rate, generation, utilization, import, trade, supply, demand, cost, part of the industry in general, CAGR, and gross margin. Likewise, the market report offers an exhaustive investigation of the elements and their most recent patterns, along with Service market fragments and subsections. Investigative Tools: This market report incorporates the accurately considered and evaluated information of the major established players and their extension into the Insulin Delivery Devices market by methods. Systematic tools and methodologies, for example, Porter’s Five Powers Investigation, Possibilities Study, and numerous other statistical investigation methods have been used to analyze the development of the key players working in the Insulin Delivery Devices market. Convincingly, the Insulin Delivery Devices report will give you an unmistakable perspective on every single market reality without the need to allude to some other research report or source of information. This report will provide all of you with the realities about the past, present, and eventual fate of the Insulin Delivery Devices market.
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