NEW YORK, April 18, 2018 /PRNewswire/ --
MarketResearch.biz announces publication of its most recently generated research report titled, "Global Insulin Delivery Systems Market by Product (Insulin Pen, Insulin Pump, Insulin Syringe, Others), Distribution Channel, and Region - Global Forecast to 2026.", which offers a holistic view of the insulin delivery systems market through systematic segmentation that covers every aspect of the target market. The first five-year cumulative revenue (2017-2021) is projected to be US$ 66,394.1 Mn, which is expected to increase rather moderately over the latter part of the five-year forecast period. According to report, the insulin delivery systems market is projected to reach a value of over US$ 22,511.8 Mn in 2026 at a CAGR of 7.8% over the forecast period.
Insulin delivery system use for administration of insulin through the skin and into the fatty tissue below the skin. Insulin delivery systems includes insulin pen, insulin pump, insulin syringe, insulin jet injector, and insulin inhaler. Innovations in insulin delivery systems include, pens that are easy to handle and use, can measure blood glucose level, and keep track of insulin doses. Also, manufacturers are now focusing on developing needle free insulin delivery systems that reduce chances of needle stick injuries and also help those people who have syringe phobia. Growth of the global insulin delivery systems market is driven by industry players focusing intensely on research and development of new, easy-to-use, and cost-effective insulin delivery systems, coupled with Increasing prevalence of diabetes in developed and developing countries.
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Global Insulin Delivery Systems Market: Market Dynamics
High prevalence rate coupled with increasing incidence of diabetes in developed as well as in developing countries, coupled with growing awareness among individuals abut use of insulin delivery systems are major factors driving growth of the global insulin delivery systems market. In addition, increasing government initiatives for spreading awareness about diabetes, availability of various insulin delivery systems, and growing adoption of insulin delivery systems by households across developed and developing economies are other major factors expected to fuel growth of the global insulin delivery systems market over the forecast period. Moreover, manufacturers developing & introducing advanced insulin delivery systems that provides support to Bluetooth facility and can be connected to a smartphone via an app, that also calculates and automatically dispenses the required dosage of insulin. This is another factor anticipated to aid in growth of the global insulin delivery systems market to a significant extent.
However, high costs associated with research & development of insulin delivery system is a major factor restraining growth of the global insulin delivery systems market. Additionally, lack of reimbursement facilities especially in developing economies is another factor anticipated to hamper growth of the global insulin delivery systems market over the forecast period.
Increasing diabetes related health expenditure in emerging economies and development of needle free insulin delivery systems, can create major potential opportunities for players in the market.
Global Insulin Delivery Systems Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global insulin delivery systems market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global insulin delivery systems market is expected to expand at a moderate CAGR of 7.8% during the forecast period.
Global Insulin Delivery Systems Market: Segmental Snapshot
The market report has been segmented on the basis of product, distribution channel, and region. The product segment includes insulin pen, insulin pump, insulin syringe, and others. The distribution channel segment includes hospitals, diabetes specialty clinics, and retail channels. The regions covered in the analysis are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
According to global insulin delivery systems market infographics published on MarketResearch.biz, over 8.0% CAGR by Product.
By product: The insulin pen segment accounted for highest revenue share contribution as compared to that of the insulin pump, insulin syringe, and others. The insulin pump segment is expected to register a CAGR of over 8.0% between 2017 and 2026.
By distribution channel: The hospitals segment is estimated to register highest CAGR of 7.8% as compared to that of the other end user segments. Also, it is projected to account for a dominant revenue share in the global insulin delivery systems market over the forecast period.
By region: The market in North America accounted for highest revenue share in the global insulin delivery systems market in 2016, and is expected to register a CAGR of over 7.0% between 2017 and 2026.
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Global Insulin Delivery Systems Market: Competitive Analysis
The research report on the global insulin delivery systems market includes profiles of some of major companies such as Becton, Dickinson and Company, Eli Lilly and Company, Medtronic plc, Sanofi, F. Hoffmann-La Roche Ltd., Cellnovo Limited, Insulet Corporation, Tandem Diabetes Care, Inc., Companion Medical, Inc., and Copernicus Sp. z o.o.
The Global Insulin Delivery Systems Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2017-2026 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the Global Insulin Delivery Systems Market for 2017-2026.
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