{"product_id":"insulin-delivery-device-global-market-insights-competitive-landscape-and-market-forecast-2028","title":"Insulin Delivery Device - Global Market Insights, Competitive Landscape, and Market Forecast - 2028","description":"\u003cp\u003eInsulin Delivery Device - Global Market Insights, Competitive Landscape, and Market Forecast - 2028\u003c\/p\u003e\n\n\u003cp\u003eInsulin Delivery Devices Market By Product Type (Insulin Syringes, Insulin Pens, Insulin Pumps [Tethered\/External Pumps and Patch Pumps], Insulin Injectors, and Others), End-User (Homecare Settings, Diabetes Centers, Hospitals, and Others), and Geography is anticipated to expand at a significant CAGR forecast till 2028 due to rising prevalence of diabetes across the globe and rising awareness regarding proper diabetes management among patients\u003c\/p\u003e\n\n\u003cp\u003eThe global insulin delivery devices market was valued at USD 15.51 billion in 2022, growing at a CAGR of 9.28% during the forecast period from 2023 to 2028, to reach USD 26.35 billion by 2028. The rise in demand for insulin delivery devices is predominantly attributed to the rising prevalence of diabetes among the geriatric population, favorable reimbursement scenarios, rising awareness about proper diabetes management and insulin delivery devices, and technological advancement in the product line, among others.\u003c\/p\u003e\n\n\u003cp\u003eInsulin Delivery Devices Market Dynamics:\u003c\/p\u003e\n\n\u003cp\u003eThe factor which plays a major role in increasing the global insulin delivery device market is the rising prevalence of diabetes among the masses. Diabetes is a chronic condition that occurs either when the body cannot use the insulin produced effectively or when the pancreas does not produce enough insulin. As per statistics by the IDF Diabetes Atlas (2022), 537 million adults were living with diabetes in 2021. This number is predicted to rise to 643 million by 2030 and 783 million by 2045.\u003c\/p\u003e\n\n\u003cp\u003eThe increasing number of overweight and obese people across the globe including adults and children is anticipated to bolster the market growth for insulin delivery devices as obesity tends to increase the risk for diabetes. According to the World Obesity Federation 2022, it has been predicted that by 2030 about 1 billion people around the world, including 1 in 5 women and 1 in 7 men, will be living with obesity. As per the World Health Organization 2021, worldwide about 39 million children aged below 5 years were overweight or obese in 2020.\u003c\/p\u003e\n\n\u003cp\u003eIn addition, the development and approval of advanced insulin delivery devices for the treatment of type I diabetes which has an incidence of 15 per 100,000 people and a prevalence of 9.5% in the world as per various research studies, is also projected to fuel the global insulin delivery devices market. For instance, in 2020, the US Food and Drug Administration (FDA) approved the MiniMed 770G System, a hybrid closed-loop diabetes management device that is intended to automatically monitor glucose (sugar) and provide appropriate basal insulin doses with little or no input from the users or their caregivers for use by individuals aged 2 to 6 with type 1 diabetes.\u003c\/p\u003e\n\n\u003cp\u003eCertain factors such as the availability of oral insulin medications and the high cost of insulin delivery devices are likely to impede the insulin delivery devices market growth.\u003c\/p\u003e\n\n\u003cp\u003eInsulin Delivery Devices Market Segment Analysis:\u003c\/p\u003e\n\n\u003cp\u003eInsulin Delivery Devices Market By Product Type (Insulin Syringes, Insulin Pens, Insulin Pumps [Tethered\/External Pumps and Patch Pumps], Insulin Injectors, and Others), End-User (Homecare Settings, Diabetes Centres, Hospitals, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World).\u003c\/p\u003e\n\n\u003cp\u003eIn the insulin delivery devices product segment, insulin pens are projected to hold the largest market among other insulin delivery devices. This is due to the ease of use of the insulin pen and its flexibility to incorporate insulin injections into a busy lifestyle which improves diabetes control with less effort while maintaining the quality of life for diabetic patients. Various other factors such as user-friendly design, rising popularity, and adoption rate among the patient population are also anticipated to contribute to the segmental growth of the insulin delivery devices market.\u003c\/p\u003e\n\n\u003cp\u003eMoreover, the rising focus of manufacturers on developing smart insulin pens integrated with real-time continuous glucose monitoring data to provide efficient diabetes management for patients is likely to boost the segmental market. For instance, in 2020, Medtronic launched InPen™ integrated with real-time Guardian Connect™ CGM data which is the first and only FDA-cleared smart insulin pen on the market for people on multiple daily injections (MDI).\u003c\/p\u003e\n\n\u003cp\u003eThereby, the aforementioned factors are expected to accelerate the demand for insulin pens during the forecast period.\u003c\/p\u003e \n\n\u003cp\u003eNorth America is expected to dominate the overall Insulin Delivery Devices Market:\u003c\/p\u003e\n\n\u003cp\u003eAmong all the countries, North America is expected to dominate the overall insulin delivery devices market during the forecast period. this domination is due to the increase in venture capital for the issuance of initial public offerings, favorable reimbursement policies, and the presence of improved healthcare infrastructure in the region.\u003c\/p\u003e\n\n\u003cp\u003eFurther, the rising prevalence of diabetes among the population in the US is also likely to fuel the insulin delivery devices market in the region. For instance, according to National Diabetes Statistics Report, 2020, 34.2 million Americans have diabetes, and newly diagnosed cases of type 1 and type 2 diabetes have significantly increased among US youth.\u003c\/p\u003e\n\n\u003cp\u003eIn addition, the presence of key manufacturers such as Medtronic, Becton, Dickinson and Company, and Tandem Diabetes Care, Inc., among others is also a driving factor for the regional growth of the insulin delivery devices market.\u003c\/p\u003e\n\n\u003cp\u003eFurthermore, recent commercialization activities among the key manufacturers in the region also contribute to the growth of the insulin delivery devices market in the region. For instance, in June 2020, Abbott and Tandem Diabetes Care agreed to develop and commercialize integrated diabetes solutions that combine Abbott's continuous glucose monitoring (CGM) technology with Tandem's innovative insulin delivery systems to provide more options for people to manage their diabetes.\u003c\/p\u003e\n\n \u003cp\u003eInsulin Delivery Devices Market Key Players:\u003c\/p\u003e\n\n\u003cp\u003eSome of the key market players operating in the Insulin Delivery Devices market include Becton, Dickinson and Company, Medtronic, Novo Nordisk A\/S, Ypsomed Holding AG, Tandem Diabetes Care, Inc., Biocon Ltd., Eli Lilly and Company, Insulet Corporation, Abbott, Terumo, CeQur, EOFLOW CO., LTD, European Pharma Group BV, Roche, Sanofi, Hindustan Syringes \u0026amp; Medical Devices Ltd, Ocean (Hangzhou) Medical Technology Co Ltd, Owen Mumford, SOOIL Developments Co., Ltd, SUNGSHIM MEDICAL CO., LTD, and others.\u003c\/p\u003e\n\n\u003cp\u003eRecent Developmental Activities in the Insulin Delivery Devices Market:\u003c\/p\u003e\n\n\u003cp\u003eIn November 2020, the French company Diabeloop, a pioneer in therapeutic AI, and Terumo Corporation signed an agreement for the joint development with exclusive distribution rights in Japan of an automated insulin delivery (AID) solution. The Diabeloop-developed system will integrate Terumo's innovative insulin patch pump.\u003c\/p\u003e\n\n\u003cp\u003eIn June 2020, Medtronic received CE (Conformité Européenne) Marking for its MiniMed™ 780G system, a next-generation closed-loop insulin pump system for the treatment of type 1 diabetes in people aged 7 to 80 years.\u003c\/p\u003e\n\n\u003cp\u003eIn February 2020, Abbott and Insulet Corporation entered into a partnership agreement to integrate Abbott's glucose-sensing technology with Insulet's next-generation tubeless system, the Omnipod Horizon™ Automated Insulin Delivery (AID) System (Omnipod Horizon System), to offer personalized automated insulin delivery and care for people living with diabetes.\u003c\/p\u003e\n\n\u003cp\u003eKey Takeaway from the Insulin Delivery Devices Market Report Study\u003c\/p\u003e\n\n\u003cp\u003eMarket size analysis for current market size (2022), and market forecast for 5 years (2023-2028)\u003c\/p\u003e\n\n\u003cp\u003eTop key product\/services\/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years\u003c\/p\u003e\n\n\u003cp\u003eKey companies dominating the global insulin delivery devices market.\u003c\/p\u003e\n\n\u003cp\u003eVarious opportunities available for the other competitor in the insulin delivery devices market space.\u003c\/p\u003e\n\n\u003cp\u003eWhat are the top-performing segments in 2022? How these segments will perform in 2028?\u003c\/p\u003e\n\n\u003cp\u003eWhich are the top-performing regions and countries in the current market scenario?\u003c\/p\u003e\n\n\u003cp\u003eWhich are the regions and countries where companies should have concentrated on opportunities for insulin delivery devices market growth in the coming future?\u003c\/p\u003e\n\n\u003cp\u003eTarget Audience who can be benefited from the Insulin Delivery Devices Market Report Study\u003c\/p\u003e\n\n\u003cp\u003eInsulin Delivery Devices providers\u003c\/p\u003e\n\n\u003cp\u003eResearch organizations and consulting companies\u003c\/p\u003e\n\n\u003cp\u003eInsulin Delivery Devices-related organizations, associations, forums, and other alliances\u003c\/p\u003e\n\n\u003cp\u003eGovernment and corporate offices\u003c\/p\u003e\n\n\u003cp\u003eStart-up companies, venture capitalists, and private equity firms\u003c\/p\u003e\n\n\u003cp\u003eDistributors and Traders in Insulin Delivery Devices\u003c\/p\u003e\n\n\u003cp\u003eVarious End-Users who want to know more about the insulin delivery devices market and the latest technological developments in the insulin delivery devices market.\u003c\/p\u003e\n\n\u003cp\u003eFrequently Asked Questions for Insulin Delivery Devices Market:\u003c\/p\u003e\n\n\u003cp\u003e1. What are Insulin Delivery Devices?\u003c\/p\u003e\n\n\u003cp\u003eInsulin delivery devices are used to inject insulin into the body. There are different types of insulin delivery devices available comprising syringes, pens, jet injectors, insulin pumps, among others.\u003c\/p\u003e\n\n\u003cp\u003e2. What is the market for Global Insulin Delivery Devices?\u003c\/p\u003e\n\n\u003cp\u003eThe global Insulin Delivery Devices Market was valued at USD 15.51 billion in 2022, growing at a CAGR of 9.28% during the forecast period from 2023 to 2028, to reach USD 26.35 billion by 2028.\u003c\/p\u003e\n\n\u003cp\u003e3. What are the drivers for Global Insulin Delivery Devices?\u003c\/p\u003e\n\n\u003cp\u003eThe major factors driving the demand for insulin delivery devices are the rising prevalence of diabetes among the worldwide population, increasing focus on developing advanced insulin delivery systems, and rising awareness regarding proper diabetes management, among others.\u003c\/p\u003e\n\n\u003cp\u003e4. Who are the key players operating in the global insulin delivery devices market?\u003c\/p\u003e\n\n\u003cp\u003eSome of the key market players operating in the insulin delivery devices market include Becton, Dickinson and Company, Medtronic, Novo Nordisk A\/S, Ypsomed Holding AG, Tandem Diabetes Care, Inc., Biocon Ltd., Eli Lilly and Company, Insulet Corporation, Abbott, Terumo, CeQur, EOFLOW CO., LTD, European Pharma Group BV, Roche, Sanofi, Hindustan Syringes \u0026amp; Medical Devices Ltd, Ocean (Hangzhou) Medical Technology Co Ltd, Owen Mumford, SOOIL Developments Co., Ltd, SUNGSHIM MEDICAL CO., LTD. and others.\u003c\/p\u003e\n\n\u003cp\u003e5. Which region has the highest share in the insulin delivery devices market?\u003c\/p\u003e\n\n\u003cp\u003eNorth America is expected to dominate the overall insulin delivery devices market during the forecast period, 2023 to 2028 due to the presence of giant market players in the region, improved healthcare infrastructure, the growing burden of diabetes patients, and various recent product developmental activities by the medical device companies, among others.\u003c\/p\u003e\n\n\n\u003cp\u003ePlease Note: It will take 3-5 business days to complete the report upon order confirmation.\u003c\/p\u003e","brand":"Life Science","offers":[{"title":"August, 2023 \/ 150 Pages \/ MCW16246877","offer_id":47662979514674,"sku":null,"price":5100.0,"currency_code":"USD","in_stock":true}],"url":"https:\/\/www.hardmanwell.com\/products\/insulin-delivery-device-global-market-insights-competitive-landscape-and-market-forecast-2028","provider":"HARDMAN AND WELL MANAGEMENT CONSULTANCIES L.L.C","version":"1.0","type":"link"}