Insulin Delivery Devices: Insulin Pens Continue to Witness Highest Demand

Today different types of insulin delivery devices are flooding the markets including pens, syringes, oral insulin, pumps, and jet injectors. Technological advancements and intense research and development by market players have resulted in the development of insulin that can also be inhaled. In addition to this, newer approaches to insulin treatment are at different stages of development and availability. All these factors are expected to ensure a healthy growth of the overall global market for insulin delivery devices. A recent report published by Transparency Market Research (TMR), a market intelligence company, states that the global insulin delivery devices market will rise from US$10.2 bn in 2016 to be worth US$20.9 bn by the end of 2025, expanding at an 8.6% CAGR between 2017 and 2025. 

Given below is a blog post wherein expert market analysts from TMR answer three important questions regarding the global insulin delivery devices market. 

Q. Which insulin delivery device will be most in demand?

The various types of insulin delivery devices include insulin pens, insulin pumps, insulin syringes, insulin patches, and needle free injection jet. Of these, the insulin pens witnessed highest demand in 2016 and accounted for 42% of the total demand. The insulin pens segment in fact is estimated to continue to remain the most profitable product segment through 2025. The demand for insulin pens is high from Asia Pacific as well as Europe. These two regions accounted for 90% of the total demand for insulin pens. 

Q. Which region will emerge as a key market for insulin delivery devices market?

Among Asia Pacific, Europe, North America, and the Middle East and Africa, and Latin America, in 2016, North America accounted for maximum demand, accounting for over 37.5% of the total demand. The U.S. has the highest number of diabetes patients and also has a well established healthcare infrastructure, supporting the growth of the North American insulin delivery devices market. Mushrooming private diabetic care facilities and favorable reimbursement policies will continue to drive the growth of the market in the region. Europe will be the second most lucrative regional market for insulin delivery devices and Asia Pacific will emerge as one of the most attractive market in the years to come, thanks to high demand from China and growing awareness among the people in developing nations about the various treatment options. 

Q. What are the recent developments by key players within the global insulin delivery devices market?

Medtronic recently got an approval from the FDA for their MiniMed 670G, which is a hybrid closed loop glucose monitoring and basal insulin delivery system. The device is used for the maintenance treatment of type 1 diabetics who are suffering from at least 14 years. This device adjusts the insulin levels automatically after measuring glucose levels every five minutes with minimal input from user, and functions like an artificial pancreas. It comprises a sensor that is attached to the body to measure glucose levels under the skin, a pump that has an infusion patch connected, and a catheter that delivers the insulin to the patient. 

Such developments by leading players is ensuring the continued growth and development of the global insulin delivery devices market.


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