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Market Overview
- The market for insulin delivery devices is directly proportional to the increasing diabetic population. The Asia-Pacific region has witnessed an astounding increase in the prevalence of diabetes in patients, in the recent years.
- The increasing demand for insulin has led to great R&D in manufacturing different ,painless type of insulin deliverable devices, like CGM-integrated insulin pumps.
- Traditionally, insulin syringes were the only form of insulin delivery systems, which were considered to be painful and not user-friendly. Furthermore, the dosage may not be accurate. Thus, companies, like Novo Nordisk and Sanofi, among others, have bought their insulin pens in the market. These pens have a specific set of dosage, and are considered to be not only less painful to use, but also reduce wastage of insulin.
- The high cost of insulin pens is the only prominent restraining factor for the growth of the pens market.
Scope of the Report
The market is segmented by product type (disposable insulin pens, cartridges in reusable insulin pens, insulin pumps, insulin syringes, and other product types) and geography.
Key Market Trends
China Holds the Major Market Share in the Asia-Pacific Insulin Delivery Devices Market
- In developing countries, such as China and India, the rate of diabetes among the population has been growing, mainly due to the unhealthy lifestyle of the population.
- In Japan, the increasing geriatric population is driving the insulin delivery devices market.
- The changing lifestyle trends, coupled with high disposable income among the population, are the prominent driver sales of insulin delivery devices, like disposable pens.
- Insulin was initially considered to be the treatment method only for type 1 patients. However, over the years, insulin has also been used by considerable number of type 2 patients as a line of treatment.
Insulin Delivery through Reusable Insulin Pen is High in the Asia-Pacific Region
- A large set of diabetic type 1 patients is children. There is a need for an alternative to the existing needle-based delivery system, which is painful, and thus, the invention of insulin jet injector, a painless insulin delivery system, was introduced.
- Though insulin jet injectors are considered for future insulin delivery system, the lack of awareness for the product, coupled with high cost, acts as the prominent restrain for the sale of the product.
Competitive Landscape
- The market is consolidated, with few players holding a significant market share in 2018. However, the insulin syringe market is highly fragmented, and many market players are based locally.
- Abbott and Novo Nordisk enter partnership, in order to provide integrated digital solution to people with diabetes, using insulin. The collaboration may enable insulin data to be shared between Novo Nordisk's connected insulin pens and digital health tools compatible with FreeStyle Libre portfolio of products.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support
- The market for insulin delivery devices is directly proportional to the increasing diabetic population. The Asia-Pacific region has witnessed an astounding increase in the prevalence of diabetes in patients, in the recent years.
- The increasing demand for insulin has led to great R&D in manufacturing different ,painless type of insulin deliverable devices, like CGM-integrated insulin pumps.
- Traditionally, insulin syringes were the only form of insulin delivery systems, which were considered to be painful and not user-friendly. Furthermore, the dosage may not be accurate. Thus, companies, like Novo Nordisk and Sanofi, among others, have bought their insulin pens in the market. These pens have a specific set of dosage, and are considered to be not only less painful to use, but also reduce wastage of insulin.
- The high cost of insulin pens is the only prominent restraining factor for the growth of the pens market.
Scope of the Report
The market is segmented by product type (disposable insulin pens, cartridges in reusable insulin pens, insulin pumps, insulin syringes, and other product types) and geography.
Key Market Trends
China Holds the Major Market Share in the Asia-Pacific Insulin Delivery Devices Market
- In developing countries, such as China and India, the rate of diabetes among the population has been growing, mainly due to the unhealthy lifestyle of the population.
- In Japan, the increasing geriatric population is driving the insulin delivery devices market.
- The changing lifestyle trends, coupled with high disposable income among the population, are the prominent driver sales of insulin delivery devices, like disposable pens.
- Insulin was initially considered to be the treatment method only for type 1 patients. However, over the years, insulin has also been used by considerable number of type 2 patients as a line of treatment.
Insulin Delivery through Reusable Insulin Pen is High in the Asia-Pacific Region
- A large set of diabetic type 1 patients is children. There is a need for an alternative to the existing needle-based delivery system, which is painful, and thus, the invention of insulin jet injector, a painless insulin delivery system, was introduced.
- Though insulin jet injectors are considered for future insulin delivery system, the lack of awareness for the product, coupled with high cost, acts as the prominent restrain for the sale of the product.
Competitive Landscape
- The market is consolidated, with few players holding a significant market share in 2018. However, the insulin syringe market is highly fragmented, and many market players are based locally.
- Abbott and Novo Nordisk enter partnership, in order to provide integrated digital solution to people with diabetes, using insulin. The collaboration may enable insulin data to be shared between Novo Nordisk's connected insulin pens and digital health tools compatible with FreeStyle Libre portfolio of products.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
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The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
