PUNE, India, April 24, 2017 /PRNewswire/ --
According to a new market research report "Insulin Delivery Devices Market by Type (Insulin Pens (Reusable, Disposable), Insulin Pumps (External/Tethered, Patch), Pen Needles (Standard, Safety), Insulin Syringes) and End User (Patients/Homecare, Hospitals & Clinics) - Global Forecast to 2021" published by MarketsandMarkets™, the market is expected to reach USD 17.85 Billion by 2021 from USD 11.54 Billion in 2016, growing at a CAGR of 9.1%.
Browse 100 market data Tables and 38 Figures spread through 149 Pages and in-depth TOC on "Insulin Delivery Devices Market"
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This report analyzes and studies the major market drivers, restraints/challenges, and opportunities for the forecast period of 2016 to 2021. The global Insulin Delivery Devices Market is segmented on the basis of type, end user, and region. On the basis of type, the Insulin Delivery Devices Market is categorized into pens, pumps, pen needles, syringes, and other devices (inhalers, transdermal patches, and jet injectors). In 2016, the insulin pens segment commanded the largest share of the Insulin Delivery Devices Market. The insulin pens segment is further divided into reusable and disposable pens. The reusable pens segment commanded the largest share of the insulin pens market in 2016. This large share can be attributed to its lower price compared to disposable pens, availability of reimbursement in selected countries, and increasing adoption of insulin pens in the Asia-Pacific region. However, the insulin pumps segment is expected to grow at the highest CAGR during the forecast period. This can be attributed to the increasing prevalence of Type 1 diabetes and technological advancements in insulin pumps.
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On the basis of end user, the Insulin Delivery Devices Market is segmented into patients/homecare and hospitals & clinics. The patients/homecare segment commanded the largest share of the market in 2016 and is expected to grow at the highest CAGR during the forecast period. Growth in this segment can be primarily attributed to the increasing diabetic population and rising healthcare expenditure.
On the basis of region, North America accounted for the largest share of the global Insulin Delivery Devices Market in 2016. In the coming years, the Insulin Delivery Devices Market is expected to witness the highest growth rate in the Asia-Pacific region. The high growth in the region can be attributed to the rising partnerships among the global and local players in Asia-Pacific countries. Moreover, high adoption of insulin pens and approvals for injectable insulin in Japan, increasing government initiatives in Singapore, and amendments in NDSS to broaden patient access to diabetes products in Australia are expected to support the growth of the Asia-Pacific Insulin Delivery Devices Market.
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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.).
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