The market for Disposable Insulin-Delivery Devices is anticipated to be worth US$ 14,585.6 million in 2022, with a compound yearly growth rate (CAGR) of 7.7% between 2022 and 2032, for a total market value of US$ 32,887.5 million. This growth is being driven mostly by a rise in diabetes-related health spending in emerging countries.
According to the International Diabetes Federation (IDF), one-tenth of all diabetics have Type 1, and 10% do not currently use insulin delivery devices, implying that the Disposable Insulin-Delivery Device market has significant growth potential during the forecast period.
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In comparison to syringes, pumps, and jet injectors, pens are the most common insulin delivery technique, accounting for more than 36% of the market. The design and convenience of use of pens have led to their popularity. NovoPen is now the market leader, and it includes a memory function as an added feature.
Home care is the primary end-user of Disposable Insulin-Delivery Devices, accounting for more than 45% of the market. The cost-effectiveness of home care versus hospital treatment contributes significantly to this trend. Furthermore, the portability of these devices increases their utility for home care applications. Future industry Insights did an in-depth analysis of the Disposable Insulin-Delivery Device industry, encompassing both micro and macro variables, in their latest market study titled ‘Disposable Insulin-Delivery Device Market.’
Key Takeaways from Disposable Insulin-Delivery Device Market
- North America controls 33% of the market. Rising diabetes incidence, legitimate government schemes, and the advent of numerous disposable insulin delivery device manufacturers could all play a role. According to the CDC, diabetes affects more than 37 million individuals in the United States.
- Because to advancements in healthcare infrastructure across Europe, Europe now controls 29% of the market. In 2019, over 32 million people in the EU were diagnosed with diabetes.
- Rising diabetes awareness is one of the primary reasons driving the Asia-Pacific Disposable Insulin-Delivery Device market, and this trend is projected to continue.
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Key Players:
- Animas Corporation
- F. Hoffmann-La Roche AG
- Insulet Corporation
- Medtronic Plc.
- Valeritas, Inc.,
- Tandem Diabetes Care, Inc.
- Johnson & Johnson
- Beta Bionics Inc.
- Abbott Laboratories
- Becton Dickinson & Co.
- EyeSense GmbH
Competitive Landscape
- In February 2022, Abbott announced a partnership with Fitterfly, Healthifyme, Zyla Health, 1MG, GOQii, PharmEasy, Sugar.fit, and BeatO as a step towards holistic diabetes control treatment. Abbott provides glucose monitoring solutions to over 8 million diabetes patients through collaborations, with 6.5 million having access to 1MG and PharmEasy.
- Insulet Corp. announced in January 2022 that the new Omnipod 5 system had been approved by the US FDA, introducing it into the field of AID (automated insulin delivery).
- In March 2022, Novo Nordisk announced the availability of two smart linked insulin pens called ‘NovoPen Echo Plus’ and ‘NovoPen 6’ for patients receiving Novo Nordisk insulin in the UK.
- Sanofi and Roche will collaborate in November 2021 to increase the usage of disposable insulin pens. Local players are also being approached in order to expand market penetration.
“A large chunk of population is contracting diabetes, which asks for Disposable Insulin-Delivery Devices”, thereby accelerating the market for the same”, says an analyst from Future Market Insights.
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In North America, the market is mature and dominated by established players such as Novo Nordisk and Eli Lilly. The increasing prevalence of diabetes, favorable reimbursement policies, and the availability of advanced insulin delivery technologies have been the key drivers of market growth in this region.
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Key Segments Profiled in the Disposable Insulin-Delivery Device Market
Disposable Insulin-Delivery Device Market by Product Type:
- Disposable Insulin-Delivery Pumps
- Disposable Insulin-Delivery Patches
- Disposable Insulin-Delivery Pens
- Disposable Insulin-Delivery Syringes
Disposable Insulin-Delivery Device Market by Disease Indication:
- Disposable Insulin-Delivery Devices for Type I Diabetes
- Disposable Insulin-Delivery Devices for Type II Diabetes
Disposable Insulin-Delivery Device Market by Distribution Channel:
- Disposable Insulin-Delivery Devices Sales via Hospital Pharmacies
- Disposable Insulin-Delivery Devices Sales via Retail Pharmacies
- Disposable Insulin-Delivery Devices Sales via Online Sales
- Disposable Insulin-Delivery Devices Sales via Diabetes Clinics
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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