LONDON, April 19, 2017 /PRNewswire/ -- Last year, the insulin-delivery services market reached $10.4 billion, according to a report from Axis Research Mind.
The report highlights that
● Pumps and syringes are the most common delivery method
● US. Food and Drug Administration and Health Canada approve new insulin pump
Pumps and Syringes dominate the market
The most common insulin delivery devices are pumps and syringes, dominating half the market, a position that is expected to continue. A recent survey conducted by TD1 Exchanged and published by Diabetes Care, found that 66% of type 1 diabetes patients wear insulin pumps.
New Insulin Pump Enters U.S. and Canadian Market
Growth in the insulin delivery service market is fueled by new products becoming available to diabetes patients.In North America, a new insulin pump recently received U.S. Food and Drug Administration and Health Canada approval.
The product, called OneTouch Vibe Plus Insulin Pump and Continuous Glucose Monitoring System, was approved for patients at least two years old. The device allows users to access their glucose numbers through the pump and to transmit them to a mobile app where they can be accessed by up to five caregivers. The numbers also are used to deliver the specific amount of insulin the patient needs. OneTouch diabetes products are used by 15 million patients globally and it's the top brand in the U.S.
Asia-Pacific is the fastest growing region
Between 2014 and 2021, Asia-Pacific is forecasted to be the largest region in the invasive devices segment, growing at a CAGR of 9.2%. The region is followed by the Middle East and Africa, both growing at a CAGR of 8.6%.
To see the report summary on ReportBuyer's blog click here.
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