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

The global insulin delivery device market is projected to cross $15.5 billion by 2022, growing at a CAGR of 6.6% during the forecast period. The increasing prevalence of diabetes, growing geriatric population, and increasing prevalence of obesity are the major drivers of the global market. In addition, the technological advancement of drug delivery devices and increasing awareness of diabetic care are also bolstering the growth of the insulin delivery device industry.

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

Based on type, the global insulin delivery device market is segmented into insulin pen, insulin syringe, insulin pump and others. The insulin pen segment accounted for the major market share in the global market during the historical period and it is projected to hold a share of 40% during the forecast period. The insulin pump segment is expected to witness the fastest growth during the forecast period.

Geographically, Europe is the second largest insulin delivery device market all over the world. By 2022, the European market for insulin delivery devices is projected to cross $4.3 billion. In Europe, majority of deaths and disease burden is due to non-communicable diseases, such as diabetes, cancer, respiratory disease and heart disease. The prevalence of diabetes is increasing among all ages in the European region, due to increase in weight and obesity, unhealthy diet and physical inactivity. In addition, the increasing prevalence of obesity, physical inactivity and unhealthy diet are also increasing the prevalence of diabetes in Europe.

Insulin Delivery Device Market Dynamics

Trends

The home infusion therapy achieving significance in the treatment of diabetes is a major trend witnessed in the insulin delivery device market. Infusion therapy is the administration of medication intravenously through a needle or a catheter. It is used when oral medication treatment is not effective. Home infusion therapy provides an alternative to hospitals and clinics. The therapy is safe and effective and reduces the risk of infections.

Home infusion therapy plays a vital role in the treatment of diabetes with the help of infusion insulin pumps. According to ADA educators, infusion pump therapy is the standard of care for insulin requiring diabetes patients. Infusion insulin pumps provide an accurate dosage of insulin to diabetic patient throughout the day.

Growth Drivers

Obesity plays a vital role in the growth of the insulin delivery device market. Obesity is caused due to diet imbalance, leading to various risk factors for Type 2 diabetes, high blood pressure, heart disease and other health problems.

The risk factors of Type 2 diabetes and high blood pressure are increasing steadily with increase in prevalence of obesity. As per WHO, approximately, 2.8 million people die each year due to overweight and obesity, and approximately 44% of diabetes cases are attributable to obesity or overweight.

Restraints

The hazards and risks associated with drug delivery device is hindering the growth of the global insulin delivery device market. Continuous checking of glucose level is needed, to avoid risks associated with insulin delivery devices. In insulin pumps, the glucose level is checked continuously, to find if the tubing or cannula is disconnected or has blocked. It may lead to ketoacidosis, due to breakdown or absorption problem, skin infection at catheter site and has higher risk of hypoglycemia.

Insulin pen needle has single use, although many diabetic patients re-use needle for delivery of insulin. The re-use of needle could lead to bacterial growth on the needle, risk of lipohypertrophy and risk of breaking fine tip of needle. Similarly, the risk associated with jet injectors are accuracy of insulin dosage and improper injection. Improper injection of insulin can lead to altered absorption level of insulin in the blood stream and bruising. Hence, these risks and complications associated with delivery devices are inhibiting the growth of the market.

Insulin Delivery Device Market Competitive Landscape

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