Insulin Delivery Devices Market Share, Revenue, Trends, Growth Drivers, Challenges, Key Manufacturers and Future Opportunities Till 2033


Insulin Delivery Devices Market Share, Revenue, Trends, Growth Drivers, Challenges, Key Manufacturers and Future Opportunities Till 2033: SPER Market Research

 Category : Healthcare

 Published: Feb-2024
 Author: SPER Analyst

Insulin Delivery Devices Market is projected to be worth USD 70.14 billion by 2033 and is anticipated to surge at a CAGR of 8.71%.

Insulin is a hormone produced by the pancreas that controls glucose levels in the bloodstream and stores blood sugar for later use. Diabetes is a long-term medical condition that affects how the body uses food as fuel. It is primarily caused by a buildup of sugar levels in the bloodstream because the body is unable to produce enough insulin. As a result, diabetic patients are administered insulin externally to maintain proper body function, which is expected to drive demand for insulin delivery devices in the future.   

Insulin Delivery Devices Market Driving Factors and Challenges

The market for insulin delivery devices is expected to grow due to a number of factors, including an aging population that is more likely to develop diabetes and need insulin administration, favourable reimbursement policies for insulin delivery devices in some healthcare systems, and an increase in FDA support. Additionally, as the growing need for less invasive and painless insulin delivery options, the rising prevalence of obesity, which is a major risk factor for diabetes, the development of healthcare infrastructure and access to diabetes care in developing countries, and the growing emphasis on improving insulin delivery accuracy and dosage control.

However, The market growth is hampered by patients' and healthcare professionals' fear of or resistance to embracing new technologies, the possibility of complications related to devices, such as infection or malfunction, and the restricted availability and accessibility of insulin delivery devices in some areas or healthcare settings.  

Impact of COVID-19 on Insulin Delivery Devices Market
The COVID-19 pandemic emerged as a novel global public health emergency and had a marginally detrimental effect on the growth of the insulin delivery device market. The COVID-19 pandemic severely disrupted logistics, supply chain, and manufacturing, which had a detrimental effect on the medical device industry by slowing the uptake of new products. Travel restrictions and the lockdown imposed by the government affected a number of medical practices, including those that provide diabetes care services. 

Insulin Delivery Devices Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Biocon Limited, Eli Lilly and Company, Hindustan Syringes & Medical Devices Ltd, Insulet Corporation, Mannkind Corporation, Medtronic, Sanofi, Terumo Corporation, and Vicentra B.V.  

Insulin Delivery Devices Market Segmentation:

By Type: Based on the Method type, Insulin Delivery Devices Market is segmented as; Insulin Pens (Reusable, Disposable), Insulin Pumps (Tethered, Tubeless), Insulin Syringes, Insulin Pen Needles (Standards & Safety).

By End User: Based on the End User, Insulin Delivery Devices Market is segmented as; (Hospitals & Clinics, Patients & Homecare).

By Region: This research also includes data for North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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