- 12 April 2019 21:59
Insulin Delivery System Market In Asia Pacific Is Expected To Witness Highest Cagr Of 8.0% Over The Forecast Period
Insulin delivery systems are used for administration of insulin through skin and into the fatty tissue below the skin. Insulin delivery systems includes insulin pen, insulin pump, insulin syringe, insulin jet injector, and insulin inhaler. Insulin pen offer patients an accurate and easy way to administer insulin anywhere the necessity arises. Insulin pens come in mainly two types, disposable insulin pen and reusable insulin pen.
High prevalence rate coupled with increasing incidence of diabetes in developed as well as in developing countries, coupled with growing awareness among individuals about use of insulin delivery systems are major factors driving growth of the global Insulin Delivery System Market . In addition, increasing government initiatives for spreading awareness about diabetes, availability of various insulin delivery systems, and growing adoption of insulin delivery systems by households across developed and developing economies are other major factors expected to fuel growth of the global insulin delivery systems market over the forecast period.
North America market is expected to dominate the global insulin delivery systems market in terms of revenue, and is estimated to account for largest market share of over 35% in 2017 as compared to that of markets in other regions. Dominance by North America market is expected to continue over the forecast period owing to high prevalence rate coupled with increasing incidence of diabetes, and technological advancements in insulin delivery equipment in countries such as the US and Canada.
In 2016, Europe accounted for the second largest revenue share contribution to the global insulin delivery systems market followed by markets in Asia Pacific, Latin America, and Middle east & Africa respectively. Growing demand for insulin delivery equipment that can administer accurate dosage of insulin and are safe & easy to use are key factors fueling growth of the Europe insulin delivery systems market currently.
The market in Asia Pacific is expected to witness considerable growth and is expected to register highest CAGR of 8.0% over the forecast period, owing to growing adoption of insulin administration devices among individuals, and increase in disposable income in emerging economies such as India, China, and Japan.
Key companies in this report are Becton, Dickinson and Company, Eli Lilly and Company, Medtronic plc, Sanofi, Hoffmann-La Roche Ltd., Cellnovo Limited, Insulet Corporation, Tandem Diabetes Care, Inc., Companion Medical, Inc., Copernicus Sp. z o.o.