Insulin Delivery Devices Market worth $46.2 billion by 2028
Insulin Delivery Devices market in terms of revenue was estimated to be worth $30.8 Billion in 2023 and is poised to reach $46.2 Billion by 2028, growing at a CAGR of 8.5% from 2023 to 2028 according to a latest report published by MarketsandMarkets™. The growing number of people with diabetes has led to an increased focus on developing and adopting better insulin delivery devices. Advances in technology have made it possible to create more flexible and sophisticated delivery devices. Government support and favourable reimbursement schemes are also driving market growth. However, high device costs, lack of reimbursement in developing countries, inability for interoperable devices, and the device patent protection are expected to slow market growth.
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Insulin Delivery Devices market major players covered in the report, such as:
- Embecta Corp. (US)
- Novo Nordisk A/S (Denmark)
- Ypsomed Holding AG (Switzerland)
- Medtronic (Ireland)
- Tandem Diabetes Care Inc. (US)
- Sanofi (France)
- Biocon (India)
- Lilly (US)
- Insulet Corporation (US)
- Roche Diabetes Care (US)
- Owen Mumford (UK)
- Medtrum Technologies Inc. (China)
- Terumo Corporation (Japan)
- Wockhardt (India)
- CeQur Corporation (Switzerland)
- Eoflow Co. Ltd (South Korea)
- Hindustan Syringes & Medical Devices Ltd (India)
- SOOIL Developments Co. Ltd (South Korea)
- Sungshim Medical Co. Ltd. (South Korea)
- Jiangsu Delfu Medical Device Co. Ltd (China)
- ViCentra B.V. (The Netherlands)
- Debiotech SA (Switzerland)
- Haselmeier (Germany)
- MannKind Corporation (US)
- HTL-STREFA S.A. (Poland)
- and Among Others
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The study categorizes the Insulin Delivery Devices market based on By Type, End User, and Region.
By Type
- Insulin Pens
- Reusable Insulin Pens
- Disposable Insulin Pens
- Insulin Pumps
- Tethered Insulin Pumps
- Tubeless Insulin Pumps
- Insulin Pen Needles
- Standard Insulin Pen Needles
- Safety Insulin Pen Needles
- Insulin Syringes
- Other Insulin Delivery Devices (insulin transdermal patches, insulin inhalers, insulin jet injectors, etc.)
By End User
- Patients/Home Care
- Hospitals & Clinics
By Region
- North America
- US
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe (RoE)
- Asia Pacific
- Japan
- China
- India
- Rest of APAC (RoAPAC)
- Rest of World
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The key stakeholders in the Insulin Delivery Devices market include:
- Insulin delivery device manufacturers, vendors, and distributors
- Group purchasing organizations (GPOs)
- Original equipment manufacturers (OEMs)
- Physicians/Diabetologists
- Homecare providers
- Hospitals and clinics
- Contract research organizations (CROs)
- Research institutes and government organizations
- Market research and consulting firms
- Contract manufacturing organizations (CMOs)
- Venture capitalists
- Senior Management
- Purchase & Finance Departments
- Patients
Recent Developments:
- In 2023, Embecta Corp. opened a new global headquarters office at 300 Kimball Drive, Suite 300, IN Parsippany, N.J. The site is expected to be home to members of the leadership team, global support functions and North American commercial organization to develop and provide solutions that make life better for people coping with diabetes.
- In 2023, Eli Lilly announced price reductions of 70% for its most prescribed insulins and an expansion of its Insulin Value Program that caps patients out-of-pocket cost at USD 35 or less per month.
- In 2023, Novo Nordisk launched the first smart insulin pens NovoPen 6 and NovoPen Echo Plus available in the UK.
- In 2022, Medtronic entered into a set of definitive agreements to acquire EOFlow Co. Ltd., a manufacturer of the EOPatch device- a tubeless, wearable and fully disposable insulin delivery device.
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