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Region : Global | Latest Update: Sep, 2019 | Published Date: Jul, 2019 | Report ID: FBI100777| Status : Published
The global diabetes treatment devices market size was valued at USD 10,826.6 Million in 2018, is projected to reach USD 16,706.4 Million by the end of 2026, exhibiting a CAGR of 5.6%.
Diabetes is one of the most common chronic diseases and categorized into type 1 and type 2 diabetes. According to the International Diabetes Federation, in 2017, an estimated 425 million people suffered from diabetes globally. This figure is expected to rise to 629 million by 2045.
Type 1 diabetes patients are insulin dependent. Different insulin types are used to regulate blood sugar levels, including fast-acting, short-acting, intermediate-acting, long-acting, and premixed. Increased investment in the research and development of the novel and minimally invasive insulin delivery devices is one of the major factors anticipated to drive the global diabetes treatment devices market. For instance, artificial pancreas is a new development in pump technology, this technology uses pumps together with glucose sensing and monitoring technology.
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Increasing demand for the insulin pumps and technological advancements in the insulin pens are some of the major factors driving the global diabetes treatment devices market.
Insulin pumps accounted for the largest share in the global diabetes treatment devices market in 2018. Initially, insulin syringes were user- friendly and self-administrable, but the use of the insulin syringes has been reduced due to the emergence of the minimally invasive, reusable and prefilled insulin delivery devices. Insulin pumps are anticipated to grow at a significant CAGR during the forecast period of 2019-2026, due to their unique ability to continuously infuse insulin. Increasing prevalence of type 1 diabetes patients, subsequently increasing the insulin-dependent patient pool will lead to an increase in demand for the insulin pump in the forecast period. This is one of the major factors driving the global diabetes treatment devices market. High demand for the newly developed insulin pens and self-monitored insulin patch pumps are some of the factors expected to drive the growth of the global diabetes treatment devices market during the forecast period of 2019-2025.
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Based on the product, the global diabetes treatment devices market is segmented into insulin pumps, insulin pens, insulin jet injectors, insulin syringes, and others. On the basis of the distribution channel, the global diabetes treatment devices market is segmented into institutional sales and retail sales. The adoption and high demand for the insulin pumps are expected to register comparatively higher CAGR during the forecast period.
Asia Pacific Dominates the Global Diabetes Treatment Devices Market due to Increasing Insulin Dependent Diabetic population and higher demand for the insulin delivery devices
Asia Pacific generated maximum revenue of USD 4,334.8 Million in 2018 and is expected to dominate the global diabetes treatment devices market throughout the forecast period. Increasing diabetic population, adoption of technologically advanced insulin delivery devices, and increased demand for the minimally invasive insulin delivery devices are some of the major factors anticipated to drive the diabetes treatment devices market during the forecast period. According to an article published in the American Diabetes Association, more than 60% of people in Asia are living with diabetes, registering one-half in China and India together. Increasing diabetes diagnosis rate and increased awareness among the patient population about the early diagnosis are some of the factors expected to have a higher demand for insulin. Subsequently expected to drive the growth of the global diabetes treatment devices market over the forecast period of 2019-2026.
Asia Pacific Diabetes Treatment Devices Market, 2018
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Hoffmann-La Roche Ltd.,Medtronic, Novo Nordisk A/S, and Tandem Diabetes Care, Inc., Account for the Highest Market Share in Terms of Revenue
Medtronic, is a leading player in the global diabetes treatment devices, owing to its strong portfolio in diabetes care devices and strong distribution network globally. In order to strengthen the market position, key market players are focusing on the introduction of noninvasive and reusable insulin delivery devices in the global market. F. Hoffmann-La Roche Ltd., Medtronic, and Tandem Diabetes Care, Inc., dominated the global diabetes treatment devices market in 2018. Other players operating in the global Diabetes treatment devices market are BD, Eli Lilly, and Company, Sanofi and others.
Despite diabetes affecting millions of people worldwide, researchers and scientists have not been able to find a cure for diabetes. Controlling it by the adequate and timely administration of insulin remains a vital measure for diabetic patients to lead a normal life. Thus, in the absence of the complete cure, the treatment prominently depends on insulin therapy. The higher demand for insulin intake is expected to consequently increase the demand for insulin delivery devices. This is likely to drive the growth of the global diabetes treatment devices market during the forecast period.
The report provides qualitative and quantitative insights on the diabetes treatment devices industry and detailed analysis of market size and growth rate for all possible segments in the market. The market is segmented by product, distribution channel, and geography. On the basis of the product, the global diabetes treatment devices market is segmented into insulin pumps, insulin pens, insulin jet injectors, insulin syringes, and others. On the basis of distribution channel, the global diabetes treatment devices market is segmented into institutional sales and retail sales. The institutional sales segment is further segmented into hospitals, clinics, and others. The retail sales segment is further categorized into hospital pharmacies, retail pharmacies, and online pharmacies. Geographically, the market is segmented into five major regions, which are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions are further categorized into countries.
Along with this, the report provides an elaborative analysis of the market dynamics and competitive landscape. Various key insights provided in the report are prevalence and incidence of diabetes by key countries, advancements in insulin delivery devices, recent industry developments such as mergers & acquisitions, pricing analysis, technological advancements, and key industry trends.
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· Insulin Pens
· Insulin Pumps
· Insulin Jet Injectors
· Insulin Syringes
By Distribution Channel
· Institutional Sales
· Retail Sales
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
· North America (USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)