What are Reasons behind Growth of Insulin Delivery Devices Market?

1
Demand for Insulin Devices Is Rising with Growing
Diabetes Burden
2
As per the IDF Diabetes Atlas, about 537 million
adults were living with diabetes in 2021. This
number is projected to rise to about 643 million
in 2030. Approximately 75 of the adults who have
it inhabit low- and middle-income countries. In
diabetes mellitus, the pancreas either stops
producing insulin (type 1) or the bodys
requirement for it increases (type 2), which is
why insulin is used to keep blood glucose levels
in the target range. The most-common way of
insulin delivery is subcutaneous
injections. With the rising prevalence of this
endocrine disorder, the insulin delivery devices
market was valued at 16,008.0 million in 2021,
which is likely to reach 39,371.8 million in
2030, at a CAGR of 10.5. The growth of the
market can be credited to the scientific
developments in diabetes care, the increase in
the diabetic population, and a surge in
cognizance of these devices. Over the years,
pharma and medical device companies have engaged
in extensive RD to come up with more-convenient
and effective methods for diabetes control.
Market Overview_at_ https//www.psmarketresearch.com/
market-analysis/insulin-delivery-devices
3
There are many that can be used to distribute
insulin, such as syringes, insulin pens, jet
injectors, and insulin pumps. The type of device
to be used can depend on the insulin regimen of a
person, ability to deploy or operate a particular
device, eyesight, insurance cover or ability to
pay for a particular device and correlated
supplies, and daily schedule. For instance,
people with a lot of free time can easily use a
syringe or pen, while those who have a busy
lifestyle are majorly going for infusion pumps
and other automated options. Among these, the
insulin pens category is expected to grow at the
fastest pace in the insulin delivery devices
market in the coming years. The main reasons for
this are the snowballing incidence of diabetes
and the growing focus of insulin pen
manufacturers on increasing their presence in the
nations with a high number of diabetic patients,
such as India and China. Additionally, the
technological developments in pens and the
medical recompense offered in developed countries
are driving the growth of the market.
4
North America was the major region for the
insulin delivery devices market, with around 40
of the revenue, in 2021. The regional market is
expanding mainly because of the surging
prevalence of diabetes and obesity, rising
knowledge of people on advanced ways of diabetes
management, and growing healthcare outlay. The
high number of obese people is a primary reason
for a large number of diabetes patients in the
region. According to the Adult Obesity Facts by
the CDC, the incidence of obesity was
approximately 40 in the U.S. in 2018. Hence,
the increasing number of diabetes patients is the
main reason for the rising demand for devices for
daily insulin intake.
To receive free sample pages of this report_at_
https//www.psmarketresearch.com/market-analysis/i
nsulin-delivery-devices/report-sample
5
Disclaimer PS Intelligence always keeps its
customers interests at the core while carrying
out research activities. PS Intelligence ensures
the reliability and accuracy of information and
data provided in its market research
publications. However, the information in
publications is subject to fluctuations, as it is
based on primary interviews of officials from
various companies or organizations. PS
Intelligence is not responsible for any incorrect
data provided by the key industry players of the
concerned domain. the information or analysis in
PS Intelligence publications represents opinions
based on research and should not be interpreted
as statements of fact. Information in this report
was believed to be correct at the time of
publication, but cannot be guaranteed. PS
Intelligence does not endorse any product,
service, or vendor depicted in its research
publications. All intellectual properties,
including trademarks and copyrights, belong to
their respective owners and may be protected by
copyright. Under no circumstance can these be
reproduced in any form without prior written
agreement of their owners. An order for market
research report is intended for internal use of
the company only and not for disclosure to third
parties or any other publication in general. No
service, report, or part thereof provided by PS
Intelligence can be reproduced, republished,
resold, revealed, distributed, circulated, or
sublicensed in any medium or form now realized or
hereafter become realized, including but not
limited to, all forms of optical-based media,
magnetic, electronic, or digital, without a
written permission from Prescient Strategic
Intelligence Pvt. Ltd.