Dublin, Dec. 20, 2021 (GLOBE NEWSWIRE) -- The "Home-Use Insulin Delivery Devices Market Research Report: By Type, Distribution Channel - Global Industry Analysis and Revenue Estimation to 2030" report has been added to ResearchAndMarkets.com's offering.
From $7,276.9 million in 2020, the size of the global home-use insulin delivery devices market will increase to $19,087.6 million in 2030, at a 10.2% CAGR between 2021 and 2030, according to the market research report.
The home-use insulin delivery devices market was relatively unharmed by the COVID-19 pandemic as most of the pharmaceutical companies were operational. Moreover, since all non-COVID-related hospital departments were closed, diabetics turned to home-use insulin delivery devices for their daily dose.
The highest home-use insulin delivery devices market CAGR in the coming years, under the type segment, will be witnessed by insulin pens. Manufacturers of these devices are expanding their operations in countries with large diabetic populations, such as China and India. Additionally, insulin pens are being technologically advanced in order to help patients manage their diabetes better.
The pharmacies category held the largest share in the home-use insulin delivery devices market in the past, based on distribution channel. Since diabetes is a long-term health condition that requires an effective management regimen, most patients prefer registered pharmacies for purchasing such devices.
North America is the largest home-use insulin delivery devices market presently on account of the rising diabetes incidence and increasing awareness on its management and surging healthcare spending. Similarly, the obese population in the U.S., the larger of the two markets in the continent, stood at 93.3 million in 2015-2016, according to the CDC.
The key drivers for the market are:
Rising Diabetes Incidence: Diabetes mellitus requires patients to administer artificial insulin since their pancreas stops producing the hormone (type 1) or the body can't utilize the naturally produced insulin type 2). Thus, with the global diabetic population set to grow from 463 million in 2019 to around 700 million by 2045, as per the International Diabetes Federation (IDF), the market will grow.
Surging Geriatric Population: This is another strong propeller of the home-use insulin delivery devices market growth as the risk of diabetes is closely tied to age. Moreover, as per the Centers for Disease Control and Prevention (CDC), even if the growth of the diabetes incidence slows down, the overall incidence will still increase with the booming population of the elderly.
The major companies in the global home-use insulin delivery devices market are
Tandem Diabetes Care Inc.
Roche Holding AG
B. Braun Melsungen AG
Becton, Dickinson and Company
Eli Lilly and Company
Novo Nordisk A/S
Ypsomed Holding AG
Gulf Pharmaceutical Industries
Key Topics Covered:
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Market Indicators
4.1 Global Human Insulin Market - The Parent Market
4.2 Prevalence of Diabetes
4.2.2 North America and Caribbean
Chapter 5. Definition of Market Segments
5.1 By Type
5.1.1 Insulin Syringes
5.1.2 Insulin Pens
5.1.3 Insulin Pumps
22.214.171.124 External/tethered pumps
126.96.36.199 Patch pumps
5.2 By Distribution Channel
5.2.3 Diabetes Clinics/Centers
Chapter 6. Industry Outlook
6.1 Market Dynamics
188.8.131.52 Surge in usage of insulin delivery devices
184.108.40.206 Growing significance of home infusion therapy for diabetes treatment
220.127.116.11 Surging aging population
18.104.22.168 Technological advancements in insulin delivery devices
22.214.171.124 Increasing exposure of population to key risk factors for diabetes
126.96.36.199 Increasing prevalence of diabetes
6.1.3 Impact Analysis of Drivers on Market Forecast
188.8.131.52 Stringent regulatory requirements
184.108.40.206 Complex manufacturing of syringes
220.127.116.11 High risk of breakage
6.1.5 Impact Analysis of Restraints on Market Forecast
18.104.22.168 Increasing awareness on diabetes management
6.2 Impact of COVID-19
6.3 Porter's Five Forces Analysis
6.3.1 Bargaining Power of Buyers
6.3.2 Bargaining Power of Suppliers
6.3.3 Intensity of Rivalry
6.3.4 Threat of New Entrants
6.3.5 Threat of Substitutes
Chapter 7. Global Market Size and Forecast
7.2 Market Revenue, by Type (2015-2030)
7.2.1 Insulin Pens Market Revenue, by Type (2015-2030)
7.2.2 Insulin Pumps Market Revenue, by Type (2015-2030)
7.3 Market Revenue, by Distribution Channel (2015-2030)
7.4 Market Revenue, by Region (2015-2030)
Chapter 8. North America Market Size and Forecast
8.2 Market Revenue, by Type (2015-2030)
8.2.1 Insulin Pens Market Revenue, by Type (2015-2030)
8.2.2 Insulin Pumps Market Revenue, by Type (2015-2030)
8.3 Market Revenue, by Distribution Channel (2015-2030)
8.4 Market Revenue, by Country (2015-2030)
Chapter 9. Europe Market Size and Forecast
Chapter 10. APAC Market Size and Forecast
Chapter 11. LATAM Market Size and Forecast
Chapter 12. MEA Market Size and Forecast
For more information about this report visit https://www.researchandmarkets.com/r/8d1qs0
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