Published Date : Sep 12, 2016
ALBANY, NY, Sep 12, 2016: MarketResearchReports.biz has announced the addition of a new report to its repository, titled “Global Insulin Delivery Systems Market 2016-2020.” The report provides a detailed reports of the present market scenario along with the historical growth trajectory and future growth prospects in the global insulin delivery systems market.
The report states that the rising number of diabetes cases across the world has resulted in a significant increase in the consumption of insulin delivery systems. The high consultation fees of endocrinologists and inadequate visiting slots have impelled patients to opt for alternatives. To meet the unmet needs of patients, several clinics are focusing on evolving into specialty clinics by providing insulin delivery management for type-1 and type-2 diabetes. As a result of this, the obtainability of insulin delivery systems and medications in pharmacy stores attached to the clinics is also likely to rise in the coming years.
The study also states that the adoption of insulin delivery systems is likely to rise owing to the additional services the healthcare centers provide, such as health insurance cards that enable patients to gain discounts and obtain inexpensive insulin delivery systems. Countries such as India, Japan, the U.S., and Canada have already introduced several specialty clinics in order to manage diabetes and provide easy and inexpensive treatments.
The report presents a detailed reports of the various insulin delivery systems products present in the global market such as insulin syringes, insulin pumps, insulin pens, and insulin jet injectors. According to the study, insulin pens are projected to lead the global insulin delivery systems market with an overall share of 58% by the end of 2020. This growth is attributed to the favorable features of insulin pens such as user friendly operation in comparison to syringes. In spite of the high cost of insulin pens, their demand is significantly high in North America, especially in Canada and the United States.
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The adoption of these insulin delivery devices is also expected to rise in Asia Pacific owing to the introduction of patient reimbursement plans by governments of numerous countries in the region. Moreover, the rising investments in research and development activities are likely to increase the competition among market players as they strive to introduce new and better quality insulin delivery systems.
The report also segments the end-user industries into hospitals, retail channels, and specialty diabetic clinics. The hospitals segment is expected to emerge as the prime end user. The application of insulin delivery systems is comparatively high in this segment due to the outpatient and inpatient services offered by multi-specialty hospitals working under private entities or government sponsorships.
Geographically, the Americas is projected to dominate the market until 2020 with an overall share of 80% owing to the government support in the region for increasing insulin delivery device penetration. The competitive rivalry in the global insulin delivery systems market is likely to intensify in the future owing to the various insulin delivery devices offered by vendors at viable prices. Among the key players in the global insulin delivery systems market are Medtronic, BD, Eli Lilly, Sanofi, and Novo Nordisk.
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