Diabetes Treatment Devices Market Size, Share & Industry Analysis, By Product (Insulin Pens, Insulin Pumps, Insulin Jet Injectors, Insulin Syringes, Others), By Distribution Channel (Institutional Sales, Retail Sales) and Regional Forecast, 2019-2032

The global diabetes treatment devices market size was valued at USD 10.83 billion in 2018 and is projected to reach USD 22.83 billion by 2032, exhibiting a CAGR of 5.5% during the forecast period. North America dominated the global market with a share of 40.44% in 2018. Increased investment in the research and development of novel and minimally invasive insulin delivery devices is one of the major factors anticipated to drive the growth of the global market. 

Diabetes is one of the most common chronic diseases and categorized into type 1 and type 2 diabetes. According to the International Diabetes Federation, in 2017, an estimated 425 million people suffered from diabetes globally. This figure is expected to rise to 629 million by 2045. Type 1 diabetes patients are insulin dependent diabetes patients. Different insulin types are used to regulate blood sugar levels, including fast-acting, short-acting, intermediate-acting, long acting, and premixed. For instance, artificial pancreas, is a new development in pump technology, is the use of the pumps together with glucose sensing and monitoring technology.

DIABETES TREATMENT DEVICES MARKET GROWTH FACTORS

“Introduction of novel products by Key Market to Cater unmet needs”

Rising awareness about advanced insulin delivery devices among diabetic patients is anticipated to augment the demand for insulin delivering devices. The advance methods for insulin delivery include minimum invasiveness in an enhanced manner, reducing patients’ burden will positively affect the market growth over the forecast period. Investment by key market players in the introduction of novel devices and industry collaborations with an aim to development new products are some of the major factors anticipated to fuel the market growth. 

For instance, in February 2019, Tandem Diabetes Care, Inc., received FDA approval for the marketing of the first insulin pump with interoperable technology for children and adults with diabetes. t:Slim X2 insulin pump is the first device to be classified under a new de novo premarket review pathway. Additionally, in January 2019, Bigfoot Biomedical entered a partnership with Eli Lilly and company to develop solutions for optimization of delivery and dosing of insulin using artificial intelligence.

Collaboration of public and private sectors to meet diabetes needs and high investment by key market players in research and development of minimally invasive insulin delivery devices are some of the major factors propelling the growth of the insulin delivery devices market.

“Rising Prevalence of Diabetes Globally”

There is an increasing prevalence of diabetes globally, especially in developing economies. Various factors including rapid urbanization and growth in sedentary lifestyle, especially in developing economies have been responsible for rapidly rising prevalence of diabetes. For instance, the International Diabetes Federation estimated that around 425 million adults were suffering from diabetes in 2017 and it is projected to rise to around 630 million by 2045. 

According to these studies, China, India, U.S., Brazil, and Mexico account for an estimated 55.0% to 60.0% of the global diabetes population. China and India currently account for around 44.0% of the global diabetes population.

Other factors including obesity, and lack of awareness regarding the disease especially in emerging countries, are also contributing to the increasing incidence and prevalence of diabetes. For example, according to the World Health Organization (WHO), an estimated 1.9 billion adults globally were overweight in 2016, and out of these an estimated 650 million adults were obese.

Rising obesity coupled with increasing number of diabetic patients is anticipate to fuel the demand for the diabetes treatment, hence driving the growth of the diabetes treatment devices market during the forecast period of 2019-2026.

SEGMENTATION

By Product Analysis

“Insulin Pens Segment is anticipated to grow at a Faster Pace during the forecast period.”

On the basis of product, the global market can be segmented into insulin pens, insulin pumps, insulin jet injectors, insulin syringes and others.

The insulin pens segment is anticipated to grow at a significant CAGR during the forecast period. Initially, insulin syringes were user- friendly and self-administrable, but the use of the insulin syringes has been reduced due to the emergence of the minimally invasive, reusable and prefilled insulin delivery devices. Insulin pumps are anticipated to grow at a significant CAGR during the forecast period of 2019-2026, due to their unique ability to continuously infuse insulin. 

Increasing prevalence of type 1 diabetes patients, subsequently increasing the insulin-dependent patient pool will lead to an increase in demand for the insulin pump in the forecast period. 

This one of the major factor driving the growth of the global market. High demand for the newly developed insulin pens and self-monitored insulin patch pumps are some of the factors are expected to drive the growth of the global diabetes treatment devices market during the forecast period of 2019-2025.

By Distribution Channel Analysis

“Retail Sales Segment is expected to hold the Highest Share among Distribution Channel”

On the basis of distribution channel, the market can be segmented into retail sales and institutional sales. The retail sales segment is anticipated to have the dominant share owing increased penetration of private-label brands in retail outlets at discounted prices are some of the factors likely to propel the growth of the retail sales segment. Explanation of retail sales segments various key market players with an aim to achieve more sales in the different regions globally.

Additionally, Mergers of different key market players with an aim to increase the sales of the company through retail sales is one of the factor propelling the retail sales growth. For instance, In 2011, AgaMatrix partnered with Perrigo to develop and market blood glucose monitors for major retailers. AgaMatrix,s product is available over 15,000 retail pharmacies in the U.S. The hospitalized patients are susceptible to hypo and hyperglycemia due to which the monitoring of blood glucose levels is required for non-diabetic patients. The use of blood glucose monitors in hospitals is one of the major factor propelling institutional sales market growth.

REGIONAL ANALYSIS

North America generated a revenue of USD 4.38 billion in 2018 and is anticipated to grow at a moderate CAGR during the forecast period. Asia Pacific is anticipated to grow at a higher CAGR owing to increasing diabetic population, adoption of technologically advanced insulin delivery devices and increased demand for the minimally invasive insulin delivery devices are some of the major factors anticipated to drive the growth of the market during the forecast period. 

According to an article published in the American Diabetes Association, more than 60% of the people with diabetes lives in Asia, registering one-half in China and India together. Increasing diabetes diagnosis rate and increased awareness among the patient population about the early diagnosis are some of the factors expected to have a higher demand for insulin. Subsequently expected to drive the growth of the global diabetes treatment devices market over the forecast period of 2019-2026.

On the other hand, Europe is projected to witness significant growth in the market due to the increasing prevalence of diabetes and government initiatives towards the awareness about disease diagnosis and treatment. The Latin America and the Middle East and Africa expected to grow at a significant CAGR in the future due to the rising healthcare expenditure, increasing prevalence of diabetes and awareness about diabetes treatment.

INDUSTRY KEY PLAYERS

“F. Hoffmann-La Roche Ltd., Medtronic, Novo Nordisk A/S, and Tandem Diabetes Care, Inc., Account for Highest Market Share in Terms of Revenue”

Medtronic, is a leading player in the global diabetes treatment devices, owing to its strong portfolio in diabetes care devices and strong distribution network globally. In order to strengthen the market position, key market players are focusing on the introduction of non-invasive and reusable insulin delivery devices in the global market. F. Hoffmann-La Roche Ltd., Medtronic, and Tandem Diabetes Care, Inc., dominated the global market in 2018. Other players operating in the global diabetes treatment devices market are BD, Eli Lilly, and Company, Sanofi and others.

LIST OF KEY COMPANIES IN DIABETES TREATMENT DEVICES MARKET::

• F. Hoffmann-La Roche Ltd


• Tandem Diabetes Care, Inc.


• B. Braun Melsungen AG


• Medtronic


• BD


• Novo Nordisk A/S


• Abbott


• Sanofi


• Other players

REPORT COVERAGE

Despite diabetes affecting millions of people worldwide, researchers and scientists have not been able to find a cure for diabetes. Controlling it by the adequate and timely administration of insulin remains a vital measure for patients with diabetes to lead a normal life. Thus in the absence of the complete cure, the treatment prominently depends on insulin therapy. The higher demand for insulin intake is expected to consequently increase the demand for insulin delivery devices. This is likely to drive the growth of the global diabetes treatment devices market during the forecast period.

Along with this, the report provides an extensive analysis of the global market dynamics and competitive landscape and scenario. Various key insights presented in the report are the prevalence and incidence of diabetes by key countries, advancements in insulin delivery devices, recent industry developments such as mergers & acquisitions, pricing analysis, technological advancements, and key industry trends. Along with this other key insight includes key strategies adopted by market leaders, competitive landscape, and company profiles.

Report Scope & Segmentation

INDUSTRY DEVELOPMENT:

• March 2021 – F. Hoffmann-La Roche Ltd announced the launch of a new Accu-Check Instant system, a new blood glucose monitoring system that supports and enables Roche’s integrated personalized diabetes management approach.


• April 2021 – BIOCORP and Roche Diabetes Care, France announced the launch of Mallya, a smart insulin injection pen in France. The collaboration will help BIOCORP leverage Roche’s vast distribution network in pharmacies.


• August 2020 – Medtronic plc announced that they plan to acquire Companion Medical, a privately held company that is responsible for the manufacturing of InPen, the U.S. FDA approved smart insulin pen system with an integrated diabetes management application in the market.


• June 2020 – Abbott and Tandem Diabetes Care announced an agreement to develop and commercialize the integrated diabetes solutions. This agreement will combine Abbott’s continuous glucose monitoring and Tandem’s innovative insulin delivery systems.