The global Disposable Insulin-Delivery Device Market is worth US$ 14.59 Billion as of now and is expected to reach US$ 32.89 Billion by the year 2032 at a CAGR of 7.7% between 2022 and 2032.
As per the International Diabetes Federation (IDF), one-tenth of the total population affected by diabetes has Type 1. Moreover, out of these, 10% do not use insulin delivery devices. This factor is bound to offer lucrative opportunities for the growth of disposable insulin-delivery device market in the forecast period.
Out of syringes, pumps, pens, and jet injectors, pens hold the largest market share. They, in fact, account for more than 36% of the overall revenue. This could be reasoned with factors like higher rate of adoption and comprehendible design. On these grounds, NovoPen has been dominating the market. It has memory function as well.
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With disposable insulin-delivery devices, home care has turned out to be a dominant end-user. It holds more than 45% of the market share. This could be credited to the fact that home care saves on hospital fees. The portability on their part is there to add. Future Market Insights, with its team of analysts and consultants, walked through the nitty-gritties of disposable insulin-delivery device market along with insights in its latest market study entitled ‘Disposable Insulin-Delivery Device Market’. Both – micros and macros have been worked upon over here.
Key Takeaways from Disposable Insulin-Delivery Device Market
- North America holds ~33% of the market share. This could be attributed to increasing incidences of diabetes, feasible government initiatives, and presence of various disposable insulin delivery device manufacturers. As per the CDC, there are more than 37 Mn people affected with diabetes all across the US.
- Europe holds ~29% of the market share with increase in healthcare infrastructure in several parts of Europe. As of the year 2019, there are more than 32 Mn adults diagnosed with diabetes in the EU.
- Coming to the Asia-Pacific, growing awareness about diabetes is one of the key factors driving the disposable insulin-delivery device market and the status quo is expected to remain the same even going forward.
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Competitive Landscape
- Abbott, in February 2022, did announce collaboration with Fitterfly, Healthifyme, Zyla Health, 1MG, GOQii, PharmEasy, Sugar.fit, and BeatO as a step toward holistic diabetes management care. Abbott, with the help of the collaborations, offers glucose monitoring solutions to almost 8 Mn diabetic patients, 6.5 Mn users out of which could access through 1MG and PharmEasy.
- Insulet Corp., in January 2022, announced that the US FDA approved the new-fangled Omnipod 5 system, thereby marking its entry into the universe of AID (automated insulin delivery).
- Novo Nordisk, in March 2022, announced launching of two smart connected insulin pens called ‘NovoPen Echo Plus’ and ‘NovoPen 6’, which are being made available for patients getting treated with Novo Nordisk insulin in the UK, but on prescription.
- Sanofi, in November 2021, entered into partnership with Roche for increasing adoption of the disposable insulin pens. Local players are also being approached for improving the market reach.
“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.
Key Companies Profiled:
- 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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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
Disposable Insulin-Delivery Device Market by Region:
- North America Disposable Insulin-Delivery Device Market
- Latin America Disposable Insulin-Delivery Device Market
- Europe Disposable Insulin-Delivery Device Market
- Asia Pacific Disposable Insulin-Delivery Device Market
- Middle East & Africa Disposable Insulin-Delivery Device Market
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified 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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