The Insulin Delivery Device Market to strike balance between existing and upcoming technology in the next 10 years

The International Diabetes Federation states that the diabetic population worldwide will reach 500 Mn by the year 2030. This could be attributed to a sedentary lifestyle and the growing geriatric population. Also, the developing economies in the Asia-Pacific are more into the utilization of insulin delivery devices with rising awareness on this count.

Moreover, extensive research in the direction of development of advanced diabetic products is catching up. This factor is bound to take the insulin delivery devices market by storm in the forecast period. Along these lines, CGM (Continuous Glucose Monitoring) system, along with CSII (Continuous Subcutaneous Insulin Infusion) have been put into practice for type 2 and type 1 diabetic patient. This is another factor propelling the insulin delivery devices market.

The major players include Roche, B. Braun, Ypsomed, Becton, Dickinson and Company, Insulet Corporation, Novo Nordisk, Medtronic, Eli Lily, Wockhardt, and Sanofi. These players are devising various ways of coming out with devices to help the Asia-Pacific cope up with higher expenses needed for management of diabetes. Also, in LATAM, there happens to be limited access to public healthcare, which results in skyrocketing prices of insulin delivery devices therein. The Middle East is also subject to stern product approvals and government regulations. North America and Europe are at the forefront of the count of adoption of insulin delivery devices.

In the Asia-Pacific, Japan holds more than 30% of its share. The IDF (International Diabetes Federation) states that more than 7.2 Mn cases of diabetes were reported in Japan in 2017. Australia is also not behind. Research states that close to 1.7 Mn Australians contract diabetes. India and China are expected to hold the baton in the years to come, as the diabetic population is growing at a noteworthy rate.

Insulin pen needles hold the largest market share as they are looked upon as a simple, precise, and convenient way of delivering insulin in place of making use of vials and syringes, and – not to forget – easy disposability and portability.