According to the research report titled ‘Insulin Delivery Devices Market Size By Product (Pumps {Tubed Pumps, Tubeless/Patch Pumps}, Pens {Reusable, Disposable}, Pen Needles {Standard, Safety}, Syringes), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, Japan, India, South Korea, Australia, Brazil, Mexico, South Africa, Saudi Arabia), Application Potential, Competitive Market Share & Forecast, 2019 – 2025’, available at MarketStudyReport.com, the global insulin delivery devices market is expected to surpass USD 20 billion by the year 2025.
 

According to the report, rising prevalence of diabetes coupled with growing demand for non-invasive treatment methods are major factors driving insulin delivery devices market growth. Rising cases of undiagnosed diabetes along with favorable government initiatives are also aiding the market expansion.
 

Escalating investments are leading to development of innovative products which in turn is augmenting the demand for technologically advanced insulin delivery devices across the globe. However, high costs of insulin in tandem with lack of awareness regarding advanced treatment methods may hinder the growth of the insulin delivery devices market.
 

In terms of product type, the report cites that insulin syringes segment is projected to grow with a CAGR of 5% during 2019-2025. Insulin syringes offer benefits such as low cost, ease of use, and efficiency as compared to its counterparts. Hence, driven by these factors the growing demand for insulin syringes will stimulate the industry outlook. On the other hand, insulin pumps segment is presumed to grow with 7.5% CAGR through 2025.
 

As per regional analysis, the report states that U.S. insulin delivery devices market was worth USD 5,333.9 million and held 40% share in the year 2018. Growing occurrence of diabetes, availability of high-quality healthcare facilities, and rising adoption of novel insulin delivery devices are fueling the regional growth.
 

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Although insulin pen segment in Europe market has been registering continuous growth, rising adoption of insulin pumps across the region will drive the market growth during the estimated timeframe. According to the report, Germany is the chief regional contributor with a share of 30% in Europe insulin delivery devices industry.
 

Speaking of the APAC market, China insulin delivery devices industry is predicted to grow by 13.7% during the forecast period. Improving healthcare systems coupled with high presence of diabetic patients are facilitating the business scenario in the country.
 

The prominent companies operating in the global insulin delivery devices market are B. Braun, Wockhardt, Ypsomed, Roche, Becton, Dickinson and Co. (BD), Insulet Corp., Novo Nordisk, Medtronic, Eli Lilly and Sanofi.