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Home-Use Insulin Delivery Devices Market Analysis, Future Opportunity, Current Challenges, Geographical Regions, Key Manufacturers and Forecast to 2030

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Home-Use Insulin Delivery Devices Market Analysis, Future Opportunity, Current Challenges, Geographical Regions, Key Manufacturers and Forecast to 2030

January 12
19:40 2022
Home-Use Insulin Delivery Devices Market Analysis, Future Opportunity, Current Challenges, Geographical Regions, Key Manufacturers and Forecast to 2030
Geographically, North America held the largest share in the home-use insulin delivery devices industry in 2020. This is primarily due to an increase in the elderly population and incidence of diabetes.

Factors, such as the growing prevalence of diabetes, rising geriatric population, increasing technological advancements, soaring incidence of obesity, and increasing public exposure to smoking and sedentary lifestyle, are expected to fuel the home-use insulin delivery devices market at a vigorous CAGR, of 10.2%, during the forecast period (2021–2030). According to P&S Intelligence, the market revenue is projected to rise from $7,276.9 million in 2020 to $19,087.6 million by 2030.

In coming years, the booming geriatric population is expected to generate a high demand for home-use insulin delivery devices. The United Nations Department of Economic and Social Affairs (UNDESA) forecasts that the world population of people aged 65 years and over is projected to surge from 727 million in 2020 to 1.5 billion by 2050. Old people need to monitor their sugar levels regularly, as aging increases the chances of diabetes and related diseases.

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Moreover, the rising technological developments in insulin delivery devices will also supplement the home-use insulin delivery devices market growth across the world. Insulin delivery devices, such as insulin inhalers, insulin pumps, and insulin pens, help maintain the normal level of the hormone in the human body, due to the accurate dosage of insulin delivered by them. In comparison to syringes and vials, administration of insulin through pens consumes less time and have a minimum risk of inaccurate dosage.

Categories under the type segment of the home-use insulin delivery devices market include insulin pumps, insulin syringes, insulin pens, and others. Under this segment, the insulin pens category accounted for the largest market share in 2020, owing to the increasing incidence of diabetes, especially in the Asia-Pacific (APAC) region, and rising technological advancements in insulin delivery pens. Moreover, the user-friendly construct of these devices that assists in minimizing the dosage of errors also encourages their adoption among the diabetic population.

In recent years, companies operating in the home-use insulin delivery devices market have been engaging in product developments to consolidate their position. For instance, in January 2020, Tandem Diabetes Care Inc. made the commercial launch of its Control-IQ technology-enabled t:slim X2 insulin pump to deliver automatic correction boluses and adjust the insulin to help prevent low and high blood sugar. This pump is integrated with Dexcom G6 continuous glucose monitoring (CGM) device, which does not require fingersticks for calibration or diabetes treatment decisions.

Browse detailed report on Home-Use Insulin Delivery Devices Market Opportunities, Emerging Trends, Competitive Strategies and Forecasts 2021–2030

Globally, the North American home-use insulin delivery devices market generated the highest revenue in 2020, due to the soaring cases of lifestyle diseases such as obesity and diabetes, mounting healthcare expenditure, and rising public awareness regarding diabetes management in the region. According to the National Diabetes Statistics Report 2020, 34.2 million people were living with diabetes in the U.S. in 2018. Furthermore, the National Center for Health Statistics (NCHS) data by the Center for Disease Control and Prevention (CDC) reflects that nearly 42.4% of the U.S. population were suffering from obesity during 2017–2018.

Therefore, the soaring geriatric population and the rising technological developments in insulin delivery devices are driving the market growth.

Home-Use Insulin Delivery Devices Market Size Breakdown by Segment

Based on Type

  • Insulin Syringes
  • Insulin Pens
    • Reusable
    • Disposable
  • Insulin Pumps
    • External/tethered pumps
    • Patch pumps

Based on Distribution Channel

  • Pharmacies
  • E-Commerce
  • Diabetes Clinics/Centers

Geographical Analysis

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
    • Mexico
  • Middle East and Africa
    • Saudi Arabia
    • South Africa
    • U.A.E

Browse Other Related Reports

Insulin Delivery Device Market – Globally, Europe held the second position, after North America, in the insulin delivery device market during the historical period, due to the rising burden of diabetes, respiratory ailments, cancer, and heart diseases in Europe. Moreover, surging prevalence of diabetes, on account of unhealthy lifestyle, obesity, and lack of physical activity, will support the regional market growth in the coming years. 

Prefilled Syringes Market – Globally, Europe contributed the highest revenue to the prefilled syringes market in 2020, because of the high incidence of non-communicable diseases such as cancer, cardiovascular diseases, and diabetes in the region. In the future years, the market will demonstrate the fastest growth in Asia-Pacific, as per the estimates of the market research company, P&S Intelligence. This will be because of the surging healthcare expenditure in the major Asian countries and the growing incidence of chronic diseases in the region.

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Company Name: P&S Intelligence
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Country: India
Website: https://www.psmarketresearch.com/market-analysis/home-use-insulin-delivery-devices-market