Insulin is a hormone that regulates blood-sugar levels in diabetic patients. There are several ways to administer insulin to a patient using various devices such as syringes, pens, pumps, jet sprays, etc. The global insulin delivery devices market is expected to foray ahead at a healthy CAGR of 7% over a forecast period of 2020-2030. Analyzing through the market lens, it is expected to climb up in terms of revenue, to US$ 14 billion by the end of FY 2020.
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Advancements in technologies such as self-administering insulin pens and smart insulin pumps have also proven to be a major driver in the growth of the market. Moreover, new ways of obtaining insulin delivery devices, such as online sales, have become all the more convenient for patients, globally. The global insulin delivery devices market is forecast to expand at a healthy growth rate of 7% during the years 2020-2030.
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Advancement of technologies in insulin delivery devices is an important driver for the market. Leading market player Novo Nordisk partnered with Health2Sync in 2019 to create AI-powered insulin delivery devices for patients. These devices have an increased convenience factor, resulting in an increase in overall market revenue of the company. As such, other market players would also step out from traditional technologies and witness increased targeted revenues.
“Advancements in technologies and introduction of smart insulin delivery devices are expected to boost the revenue of the insulin delivery devices market,” says a FACT.MR analyst.
Fact.MR has studied the insulin delivery devices market with detailed segmentation on the basis of type, distribution channel, and key regions.
Type
Distribution Channel
Region
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