The rising prevalence of diabetes coupled with rapidly increasing awareness level about diabetes care is the major factors driving the global insulin delivery market. Insulin is responsible for the maintenance of sugar levels in the body and it also helps in the proper execution of all physiological and cellular activities. The increasing incidence of diabetes is a direct consequence of the rising prevalence of obesity all over the world. In addition, the introduction of new and technologically advanced insulin delivery devices such as portable insulin pumps is also a factor propelling the insulin delivery devices market. Diabetes is most common in the geriatric population. However, the incidences of diabetes are rapidly increasing in children and adults, which is a factor expected to further fuel the global insulin delivery devices market over the forecast period.
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The insulin delivery devices market on the basis of product type is segmented into jet injectors, syringes, pumps and insulin pens. As of 2014, insulin syringes dominated the entire insulin delivery market owing to its user friendly features such as short needles which are less hurting for the patient. The insulin pen segment is expected to witness lucrative growth over next six years owing to its compact design and accessibility. Insulin pen comprises insulin cartridge, needle and a dial. These devices consist disposable needles for the delivery of doses of insulin in the body. Insulin pen is further segmented into prefilled insulin pen and reusable insulin pen. A prefilled pen can be used once for the insulin delivery while the reusable pen contains an insulin cartridge which can be loaded and removed from the pen. The insulin pump is composed of a disposable reservoir, a pump and a disposable infusion set which can be worn externally. The insulin jet injector segment is also expected to show significant growth over next six years due to its efficiency of insulin delivery without the use of any needle. These injectors consist the delivery device which is shaped like a pen, a disposable insulin vial adapter and a disposable injector nozzle.
Globally, the entire insulin drug delivery devices market is segmented into North America, Asia Pacific, Europe and RoW. As of 2014, North America dominated the insulin delivery devices market owing to the increasing prevalence of diabetes and obesity in this region. The U.S. attributed the largest share for insulin delivery devices market. Other countries such as Germany, France, U.K. and Canada are also witnessing high growth in the market. Asia Pacific is the fastest growing region for the insulin delivery devices owing to the increasing incidences of diabetes and rising geriatric population in this region. Various government initiatives and rapidly rising awareness about the treatment of diabetes are the factors expected to further boost the demand of insulin delivery devices in this region.
Some of the key players in the market include F. Hoffmann La Roche, Ltd., Dickinson and Company, Becton, Sanofi, Medtronic Inc., Eli Lilly and Company, Novo Nordisk A/S and Abbott Laboratories. These companies are creating various competitive strategies to keep a strong foothold in the global insulin delivery devices market.
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