The insulin delivery devices market is projected to reach USD 17.85 billion by 2021 from USD 11.54 billion in 2016, growing at a CAGR of 9.1% in the next five years (2016 to 2021).
Favorable reimbursement scenario and strong government support in selected countries, technological advancements in insulin delivery devices, growing diabetic population, and rising awareness about insulin delivery devices are the major factors driving the growth of this market. However, needle anxiety, emergence of oral drug delivery methods, and the growing trend of reuse of pen needles and infusion sets are the major factors restraining the growth of this market. Furthermore, increasing research and development activities and increasing diabetes-related health expenditure in emerging countries are likely to offer significant growth opportunities for players operating in the market.
The global insulin delivery devices market is segmented on the basis of type, end user, and region. In 2016, North America accounted for the largest share of the market, followed by Europe, Asia-Pacific, and RoW. The Asia-Pacific region is projected to have the highest growth rate in the forecast period. Factors such as rising prevalence of diabetes, high adoption of insulin pens, and government initiatives in Singapore are expected to support the growth of the Asia-Pacific insulin delivery devices market.
The market witnesses high competitive intensity, as there are several big and many small firms with similar product offerings. These companies adopt various strategies (product launches, collaborations, agreements, partnerships, alliances, grants, joint ventures, acquisitions, and expansions) to increase their market shares and establish a strong foothold in the global market.
In-depth interviews were conducted with CEOs, Sales and Marketing Directors, other innovation and technology directors, and executives from various key organizations operating in the insulin delivery devices market.
- By Company Type: Tier 1: 70%, Tier 2: 22%, Tier 3: 8%
- By Designation: Director Level: 65%, C-level: 25%, Others: 10%
- By Region: North America: 55%, Europe: 20%, APAC: 20%, RoW: 5%
Key players in the global insulin delivery devices market include Becton, Dickinson and Company (U.S.), Novo Nordisk A/S (Denmark), Ypsomed Holding AG (Switzerland), Medtronic plc (Ireland), Animas Corporation (U.S.), Tandem Diabetes Care, Inc. (U.S.), Sanofi (France), Biocon Ltd. (India), Eli Lilly and Company (U.S.), and Insulet Corporation (U.S.).
This report studies the insulin delivery devices market based on type, end user, and region. The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting the market growth. It analyzes opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micromarkets with respect to their individual growth trends, prospects, and contributions to the total market. The report forecasts the revenue of the market segments with respect to four main regions.
Reasons To Buy the Report:
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn helps firms to garner a greater market share. Firms purchasing the report could use any one, or a combination of the below mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the types of insulin delivery devices offered by top players in the insulin delivery devices market
- Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and product launches in the insulin delivery devices market
- Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for insulin delivery devices across regions
- Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the insulin delivery devices market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and distribution networks of the leading players in the insulin delivery devices market