Insulin Delivery Devices Market worth $46.2 billion by 2028

As per the recently published report by MarketsandMarkets™, The report "Insulin Delivery Devices Market by Type (Insulin Pens [Reusable, Disposable], Insulin Pumps (Tethered, Tubeless), Insulin Syringes, Insulin Pen Needles (Standard, Safety)), End User (Hospitals & Clinics, Patients/Homecare) - Global Forecast to 2028", is expected to grow at a CAGR of 8.5% from USD 30.8 Billion in 2023 to USD 46.2 billion in 2028. As diabetes prevalence has increased, there is an increasing demand for more efficient diabetes care solutions..

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• 151     Market Data Tables
• 59       Figures
• 229     Pages and in-depth TOC on " Insulin Delivery Devices Market - Global Forecast to 2028”

Some of the prominent key players are:

• Insulet Corporation (US),
• Biocon Limited (India),
• Novo Nordisk A/S (Denmark),
• Medtronic (Ireland), 
• Ypsomed Holding AG (Switzerland),
• Tandem Diabetes Care (US), and many more......

Mergers & acquisitions, investments & expansions, partnerships & collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the Insulin Delivery Devices Market.

• Segments of the devices taken into consideration in the insulin delivery device market include insulin pens, insulin pumps, insulin syringes, and pen needles. The insulin subsegment includes reusable pens and disposable pens. The market for reusable insulin pens is anticipated to continue to grow at the highest CAGR during the forecast period.
• The large share of this segment of the insulin delivery devices market is primary attributed to improved dosage accuracy and medication adherence, increasing adoption of insulin pens among diabetes patients. Short and fine needles result in less pain for the user, which is also the major factor driving the adoption of these devices.
• By end user, the insulin delivery devices market is broadly segmented into patients/home care and hospitals & clinics. Patients/ home care segment is projected to lead the global market in 2023.
• North America, followed by Europe, held the largest market share in 2022. The market for insulin delivery devices in North America was further dominated by the US. This is driven on by a number of factors, such as the rising prevalence of diabetes, technological advancements in insulin delivery devices, reimbursement support, and increasing emphasis on raising the quality of patient care.

The comprehensive research encompasses an exhaustive examination of industry trends, meticulous pricing analysis, patent scrutiny, insights derived from conferences and webinars, identification of key stakeholders, and a nuanced understanding of market purchasing dynamics.

The growth in the market is mainly driven by factors such as the growing prevalence of the diabetic population, government support and favorable reimbursements, technological advancements in insulin delivery devices. However, the high cost and lack of reimbursement in developing countries are expected to restrain market growth to a certain extent.