The Global Disposable Insulin-Delivery Device saw a significant increase in market size to a total of US$ 14,585.6 million in 2022. The market is expected to grow even more in value as 2023 goes on, reaching about US$ 15,780.6 million. Global sales of disposable insulin delivery devices are predicted to grow at a consistent rate over the next ten years, with a compound annual growth rate (CAGR) of 7.6%. By the end of the forecast period, this journey is expected to come to a close with an impressive overall market value of US$ 32,814 million. This growth highlights the importance of this market’s expansion and can be attributed to the notable rise in healthcare expenditures related to diabetes within emerging economies.
According to the International Diabetes Federation (IDF), one-tenth of the total population affected by diabetes has Type 1, and 10% of these individuals do not currently use insulin-delivery devices, implying that the Global Disposable Insulin-delivery Device Industry has significant potential for growth during the forecast period.
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Pens are currently the most prevalent insulin delivery technology, accounting for more than 36% of the market when compared to syringes, pumps, and jet injectors. Pens’ design and ease of use have contributed to their widespread use. NovoPen is now the market leader, with a memory function as an extra bonus.
The principal end-user of Disposable Insulin-Delivery Devices is home care, which accounts for more than 45% of the market. The cost-effectiveness of home care over hospital treatment is a major contributor to this trend. Furthermore, the portability of these gadgets adds to their use for home care application. 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 Global Disposable Insulin-delivery Device Industry
- North America has a 33% market share. Rising diabetes rates, credible government programmes, and the emergence of many disposable insulin delivery device manufacturers could all contribute to this. Diabetes affects more than 37 million people in the United States, according to the CDC.
- As a result of advances in healthcare infrastructure throughout Europe, Europe today controls 29% of the market. Diabetes was diagnosed in about 32 million persons in the EU in 2019.
- Rising diabetes awareness is one of the key forces driving the Disposable Insulin-Delivery Device market in the Asia-Pacific region, and this trend is expected to continue.
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
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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.
What does the Report have at its discretion?
- In its latest analysis, Future Market Insights provides an exclusive perspective and numerous real-time data on the Global Disposable Insulin-delivery Device Industry, presenting historical demand assessments from 2016 to 2021 and predictions from 2022 to 2032.
- The study is divided into three sections: product type (disposable insulin-delivery pumps, disposable insulin-delivery patches, disposable insulin-delivery pens, and disposable insulin-delivery syringes), illness indication (type I and type II diabetes), and distribution channel (hospital pharmacies, retail pharmacies, online sales, and diabetes clinics).
- With an increase in the number of diabetic patients as a result of obesity, ageing, and sedentary lifestyles, the Global Disposable Insulin-delivery Device Industry is poised to make waves in the healthcare industry in the next years.
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Want more insights:
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.
Key Segments Profiled in the Global Disposable Insulin-delivery Device Industry
Global Disposable Insulin-delivery Device Industry by Product Type:
- Disposable Insulin-Delivery Pumps
- Disposable Insulin-Delivery Patches
- Disposable Insulin-Delivery Pens
- Disposable Insulin-Delivery Syringes
Global Disposable Insulin-delivery Device Industry by Disease Indication:
- Disposable Insulin-Delivery Devices for Type I Diabetes
- Disposable Insulin-Delivery Devices for Type II Diabetes
Global Disposable Insulin-delivery Device Industry 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
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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