The growing prevalence of diabetes is a prime factor driving the growth of the global insulin delivery devices market. According to the American Diabetes Association, in 2018, 34.2 million Americans, or 10.5% of the population, had diabetes. Nearly 1.6 million Americans have type 1 diabetes, including about 187,000 children and adolescents. 1.5 million Americans are diagnosed with diabetes every year. Increasing government initiatives for raising awareness regarding diabetes is again augmenting the growth of the market. For example, the Australian government launched National Diabetes Strategy (2016–2020), to prevent diabetes and support people living with diabetes. Moreover, the development of advanced systems and devices for improving drug delivery is projected to foster the growth of the market.
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North America is expected to dominate the global insulin delivery devices market and this is due to the growing focus of key players on developing next-generation devices to enhance their design capabilities. For instance, in October 2017, Eli Lilly and Company announced its plans to invest US$ 72 million in an insulin manufacturing project at one of its Indianapolis, U.S. facilities. The investment will be used to replace an existing insulin vial filling line and allow the company to meet the growing demand for its insulin – including Humalog (insulin lispro) and Humulin (human insulin) – while upgrading to state-of-the-art technology and preparing for its insulin pipeline.
In January 2020, Tandem Diabetes Care Inc., an insulin delivery and diabetes technology company announced its commercial launch of the t: slim X2 insulin pump with Control-IQ technology, an advanced hybrid-closed loop feature designed to help increase time in range (70-180 mg/dL)1. It is the first and only system cleared to deliver automatic correction boluses in addition to adjusting insulin to help prevent high and low blood sugar
Insulin delivery devices contain insulin pumps, insulin pens or insulin syringes, and traditional insulin delivery system accessories. Syringes are the most common insulin delivery devices. These needles are small and easy to inject but unfortunately feature only one dose. This makes them unsuitable for many diabetes patients. Insulin pumps, on the other hand, use an insulin delivery device that contains multiple doses, in a very precise fashion, under steady pressure. Because multiple doses are required, these pumps are very convenient for many diabetes patients.
Diabetics who need more than one dose of insulin can find great success with continuous glucose monitoring or CGH. Continuous glucose monitors provide continuous readings of blood sugar levels so that diabetics can plan meals, exercise, and medication properly. Insulin pumps or insulin delivery devices that use insulin syringes are very good at providing reliable and consistent blood glucose levels.
Top Key Players Include In Insulin Delivery Devices Market: Novo Nordisk A/S, Becton, Dickinson and Company, Sanofi S.A.., F. Hoffmann-La Roche, Ltd., Eli Lilly and Company, Medtronic, Plc, Ypsomed Holding AG, Animas Corporation, and Insulet Corporation.
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