Selbyville, Delaware , May 02, 2022 (GLOBE NEWSWIRE) --
The insulin delivery devices market value is projected to reach USD 24 billion by 2028, according to a new research report by Global Market Insights Inc. The rising geriatric & obese population along with the launch of facilitative initiatives by the regulatory authorities will expand the market size.
The significant developments have improved the performance, efficiency, and precision in insulin delivery, further enhancing the patient satisfaction & easy operability. There have been notable advancements in the insulin pen design that includes the integration of memory function, which enables the device to store information such as the date, the time, and the previous doses. Further developments encompass the commercialization of smart insulin pen that can automatically estimate insulin dosage and offers insights to patients. Data from this insulin pen is transferred through Bluetooth to develop computer-generated reports.
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Insulin delivery devices market from insulin jet injectors segment is estimated to surpass USD 603 million by 2028 owing to the increasing adoption & preference of insulin jet injectors and minimally invasive insulin delivery. Insulin jet injector is a medical equipment that employs high-pressure jet of insulin, as an alternative to a hypodermic needle to penetrate the epidermis. The jet injector disperses insulin with more than 90% efficacy. The use of high-pressure jet stream limits the potential skin injury as compared to a needle syringe and an insulin pen. Thus, several clinical benefits offered by jet injectors is set to foster the adoption of these devices.
Some major findings of the insulin delivery devices market report include:
- Growing prevalence of diabetes is expected to impel the business landscape.
- Technological developments in insulin delivery devices are anticipated to amplify the market expansion.
- Competitors are focusing on strategic product launches, partnerships, and geographical expansion to gain significant revenue share and cater to larger customer base.
Browse key industry insights spread across 130 pages with 280 market data tables & 14 figures & charts from the report, “Insulin Delivery Devices Market Forecasts By Product (Insulin Pumps {Tubed/Tethered Pumps, Tubeless Pumps}, Insulin Pens {Reusable, Disposable}, Insulin Pen Needles {Standard, Safety}, Insulin Jet Injectors, Insulin Syringes), End-use (Home Care, Hospitals & Clinics), Industry Analysis Report, Regional Outlook , Application Potential, Competitive Market Share & Forecast, 2022 – 2028” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/insulin-delivery-devices-market
Insulin delivery devices market from home care segment held 56% revenue share in 2021 and is predicted to grow at significant CAGR from 2022 to 2028. This due to its availability of ease to use devices and supportive initiatives adopted by public organizations to facilitate diabetes self-management. For instance, the American Diabetes Association implemented Diabetes Support Initiative through its Diabetes Self-Management Support (DSMS) supports & educates individuals in self-management of diabetes. Similarly, Building Community Supports for Diabetes Care program aids with diabetes management beyond the clinical setting and aids diabetic population to manage their own diabetes care in homecare settings. Moreover, the surging demand for home care among elderly population will fuel the industry outlook.
China insulin delivery devices market is poised to cross USD 2,120 million by 2028. This is attributed to the rising prevalence of diabetes, improving healthcare infrastructure, and high acceptance for insulin needles in the country. As per the IDF statistics, in 2021, approximately 140.9 million adults in China were suffering from diabetes. The governing authorities have implemented several initiatives to promote awareness and support patients undergoing insulin therapy. Thus, owing to these factors, the China market is projected to grow substantially in the coming years.
Some of the major industry players operating in the insulin delivery devices industry include Sanofi, Becton, Dickinson and Company (BD), Eli Lilly, Novo Nordisk, Roche, Insulet Corporation, Medtronic, Tandem Diabetes Care, and Ypsomed.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
