Insulin Delivery Device Market by Type (Insulin Pen, Insulin Syringe, Insulin Pump), by Geography (US, Canada, UK, Germany, France, Italy, Spain, China, India, Japan) - Global Market Size, Share, Development, Growth and Demand Forecast, 2012-2022

Insulin Delivery Device Market Overview

Insulin delivery device market size was $10.0 billion in 2015, which is expected to reach $15.6 billion by 2022, growing at a CAGR of 6.6%. Insulin delivery devices are used to administer insulin into body. The major devices used for the administration of insulin include insulin pens, insulin syringes, insulin pumps, and others (jet injectors and insulin inhalers).

GLOBAL INSULIN DELIVERY DEVICE MARKET, BY TYPE, $M (2012 - 2022)

Based on type, the market has been segmented into insulin pen, insulin syringe, insulin pump, and others. The insulin pen segment accounted for the largest market share in the insulin delivery device market in 2015, due to the various advantages of these pens such as ease of use, repeated accurate dose provided to the patient and less injection pain.

Insulin Delivery Device Market Dynamics

The insulin delivery device market is expected to grow considerably during the forecast period due to rising prevalence of diabetes, growing geriatric population, increasing prevalence of obesity, technological advancement of drug delivery devices and rising awareness about diabetic care. However, the hazards and risks associated with drug delivery devices and high cost of insulin analogue are expected to negatively affect the insulin delivery device market.

Growth Drivers

The increasing prevalence of diabetes is expected to significantly drive the market of insulin delivery devices market since patients suffering with diabetes are the prime end users of these devices. According to the World Health Organization (WHO), approximately 108 million people in 1980 were suffering from diabetes and the number reached 422 million, in 2014. According to International Diabetes Federation (IDF), approximately 5 million people died globally due to diabetes, in 2015. Similarly, according to IDF in 2015, approximately 7.3 billion people were suffering from diabetes and approximately 9.0 billion people are expected to suffer from the disease, by 2040. Thus, the effort to reduce morbidity rate and increasing prevalence of diabetes in various parts of the world is driving the insulin delivery devices market.

Globally, the increase in geriatric population is a vital cause of growing prevalence of diabetes. According to the United Nations Department of Economic and Social Affairs (UN-DESA) report on the global aging population, the population of people aged 60 years or above increased from 9.2% of the total population in 1990 to 11.7% in 2013, and is expected to reach 21.1% by the end of 2050. The increasing geriatric population suffering from diabetes, globally, is further expected to contribute to the expansion of insulin delivery device market.

The technological advancement in the global market are leading to increased acceptance of such devices. Insulin pens, insulin inhalers, and pumps have various advantages, which help in delivering accurate dose of insulin, thereby maintaining normal level of insulin in the body. The improved delivery devices for insulin treatment have increased the acceptance of intensive insulin. Various products such as Spiros, manufactured by Eli Lilly and Dura Pharmaceuticals; and ProMaxx, manufactured by Epic Therapeutic / Baxter Healthcare Corp., are under development. Such products are expected to be commercialized during the projected period, which is expected to drive the growth of the insulin delivery device market.

Trends

The increasing significance of home infusion therapy in the treatment of diabetes and growing popularity of artificial pancreas are the key trends witnessed in the insulin delivery device market. Home infusion therapy plays a vital role in the treatment of diabetes with the help of infusion insulin pumps. According to the American Diabetes Association (ADA) educators, infusion pump therapy is the main type of therapy used for diabetes patients, dependent on insulin. Infusion insulin pumps provide an accurate dosage of insulin to the patient throughout the day. Artificial pancreas, developed by researchers, consists of two parts, a smart phone and an implantable insulin pump, and bridges the gap between the two diabetes technologies namely, glucose monitoring device and infusion pump. It is a system that measures blood glucose level with the help of blood glucose monitor and simultaneously transmits information to the insulin pump in order to provide sufficient amount of insulin to the patient and functions as a real pancreas for Type 1 diabetic patients. One of the major advantages of artificial pancreas is its feature of automatically stopping the supply of insulin, when the required level is achieved.

Insulin Delivery Device Market Competitive Landscape

Key players in the industry are acquiring other players to offer more advanced products. For instance, in January 2016, Medtronic Plc entered into a partnership with the Chengdu municipal government to manufacture and deploy advanced diabetes therapies in Chengdu, China. As part of the agreement, Medtronic Plc agreed to invest in a manufacturing facility for a next generation sensor augmented pump system with SmartGuard technology to help provide better diabetes management for the growing diabetes population in China.

In August 2015, Novo Nordisk entered into a definitive agreement under which the company acquired Calibrium LLC and MB2 LLC, two privately held biopharmaceutical research companies based in Indiana, the U.S. Established in 2013 and 2014, respectively, Calibrium and MB2 were focused on developing a portfolio of novel drug candidates for the treatment of diabetes and related metabolic diseases. The acquisition was aimed at expanding Novo Nordisk's portfolio of projects and intellectual property rights for diabetes and obesity treatment and provide a basis for expanding Novo Nordisk's research presence in the U.S.

Some of the other key players operating in the global insulin delivery device market include Abbott Laboratories, Eli Lilly and Company, Insulet Corporation, Sanofi S.A., Becton, Dickinson and Company, F. Hoffmann-La Roche Ltd., Animas Corporation, B. Braun Melsungen AG, and Ypsomed Holdings AG.