, February 23, 2018 ) According to the report North America Insulin Delivery Devices Market
, published by Market Data Forecast, The market is expected to reach USD 5.34 billion by 2020 from USD 4.03 billion in 2015, growing at a CAGR of 5.80% during the forecast period 2015-2020.
Insulin maintains sugar levels in the blood and essential for the people suffering from type I diabetes & type II diabetes. The development of insulin delivery devices has been encouraged from the past years. These devices are used to deliver the insulin doses via parenteral route rather than oral route of administration. Insulin delivery devices promote absorption rate of insulin into blood stream from the site of injection to execute immediate pharmacological action of insulin. Some of the majorly used insulin delivery devices such as insulin syringes, insulin pens, insulin pen needles, insulin pumps, and insulin jet injectors.
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Growing number of obese population, increasing healthcare expenditure, rising number of diabetes patients, availability of medical reimbursements for human insulin pens in the U.S., and presence of more number of market players are driving the growth of insulin delivery devices market in North America. However, stringent regulatory laws for the product approval and low penetration rate of advanced insulin delivery devices in this region are restraining the growth of insulin delivery devices market in North America.
North America Insulin Delivery Devices Market: Segmentation
• Insulin Syringes
• Insulin Pens
• Insulin Pen Needles
• Insulin Pumps
• Insulin Jet Injectors
• Type I Diabetes
• Type II Diabetes
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On the basis of geographical areas, North America insulin delivery devices market is segmented as U.S., and Canada. U.S., accounted for larger share of the North America insulin delivery devices market in 2015, whereas Canada is estimated to grow at a higher CAGR during the forecast period 2015-2020.
The key players in insulin delivery devices market such as, Becton, Dickinson and Company (U.S.), Sanofi (France), Novo Nordisk A/S (Denmark), Julphar (U.A.E.), Eli Lilly and Company (U.S.), Biocon Ltd. (India), Ypsomed AG (Switzerland), Wockhardt Ltd. (India), B. Braun Meselgen AG (Switzerland), and Biodel Inc. (U.S.).
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