Dublin, May 21, 2024 (GLOBE NEWSWIRE) -- The "Insulin Delivery Systems - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Insulin Delivery Systems Market to Reach $16.8 Billion by 2030
The global market for Insulin Delivery Systems estimated at US$13.4 Billion in the year 2023, is projected to reach a revised size of US$16.8 Billion by 2030, growing at a CAGR of 3.3% over the analysis period 2023-2030.
The market for insulin delivery systems is poised for significant growth, driven by the rising prevalence of diabetes among the growing global population. By 2024, the global market will see key competitors holding notable percentage market shares. Diabetes prevalence worldwide is increasing due to sedentary lifestyles and an aging population, which augments the growth prospects for insulin delivery devices. As longevity increases, the demand for these devices continues to rise. Developed nations benefit from a favorable reimbursement scenario, creating more opportunities in these markets.
Syringes, one of the segments analyzed in the report, is expected to record a 3.4% CAGR and reach US$7 Billion by the end of the analysis period. Growth in the Pens segment is estimated at 4.3% CAGR for the next 7-year period.
The U.S. Market is Estimated at $3.6 Billion, While China is Forecast to Grow at 5.8% CAGR
The Asia-Pacific region, facing a growing diabetes epidemic, is expected to see a substantial boost in the adoption of insulin pens. A comprehensive review of insulin delivery devices highlights the importance of these tools in diabetes management.
Increasing awareness about diabetes care has brought more focus on insulin delivery systems. Expanding R&D activities and pioneering new treatments are crucial for market development. Technological advancements and product innovations, such as the advent of smart insulin pens and the emergence of patch pumps for insulin delivery, are pivotal for future growth. These innovations are set to enhance the efficiency and convenience of diabetes management, driving further adoption of advanced insulin delivery systems.
The Insulin Delivery Systems market in the U.S. is estimated at US$3.6 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$3.4 Billion by the year 2030 trailing a CAGR of 5.8% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.9% and 4.4% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 1.8% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.2 Billion by the year 2030.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 272 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $13.4 Billion |
| Forecasted Market Value (USD) by 2030 | $16.8 Billion |
| Compound Annual Growth Rate | 3.3% |
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Insulin Delivery Systems - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
- Rising Prevalence of Diabetes Among Growing Global Population Pushes Up Demand for Insulin Delivery Devices
- Diabetes Prevalence Worldwide
- Sedentary Lifestyle and Ageing Population Augment Growth Prospects
- Driven By Increasing Longevity, Ageing Population Augments Demand in the Market
- Favorable Reimbursement Scenario Drives Opportunities in Developed Nations
- Growing Diabetes Epidemic in Asia-Pacific to Boost Adoption of Insulin Pens
- A Review of Insulin Delivery Devices
- Global Economic Update
MARKET TRENDS & DRIVERS
- Rise in Global Healthcare Spending on Diabetes Bodes Well for Market Growth
- Global Healthcare Spending on Diabetes Treatment for the Years 2019, 2025, 2030, 2035 & 2040
- Increasing Awareness about Diabetes Care Sheds Focus on Insulin Delivery Systems
- Constantly Expanding R&D Activities and New Pioneering Treatments Influence Growth
- Technological Advancements and Product Innovations Crucial to Future Growth
- Advent of Smart Insulin Pens
- Emergence of Patch Pumps for Insulin Delivery
- Next-Generation Artificial Pancreas Device Systems Automates Insulin Delivery
- Emergence of Oral Insulin as an Alternative Insulin Delivery Method Presents Significant Challenges
- High Cost of Insulin Hampers Growth Prospects
- Risks Associated with Reuse of Insulin Pen Needles
FOCUS ON SELECT PLAYERS(Total 32 Featured):
- B. Braun Melsungen AG
- Becton, Dickinson and Company
- Eli Lilly and Company
- F. Hoffmann-La Roche AG
- Insulet Corporation
- Medtronic, Inc.
- Novo Nordisk A/S
- Wockhardt Ltd.
- Ypsomed AG
For more information about this report visit https://www.researchandmarkets.com/r/brktcw
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