Hyderabad, India -- (SBWire) -- 02/12/2018 --The global Insulin Delivery Devices market is estimated to reach USD 16.15 billion by 2022, according to a new report by Market Data Forecast, Inc. The increasing occurrence of diabetes all over the world is the key driver behind the market growth.
Increasing exposure to risk factors causing diabetes, rising proportion of diabetic population directly result in the rise in demand for human insulin, which promotes the growth of Insulin Delivery Devices market. Besides, increase in the access to the insulin treatment, huge pharmaceutical advancements in treatments of diabetes with insulin, better reimbursement schemes and plans by governments and commercialized insulin delivery device market act as drivers for the market. Whereas, strict regulations on product approval and higher costs for the devices constrain the market growth.
Advancement of insulin delivery devices like portable insulin pumps and pens also result in the increase in the scope of the Insulin Delivery Devices market. Subsequently, the manufacturers concentrate on inventing new insulin delivery devices.
Growing preference of the public toward advanced insulin delivery systems directly promote the growth of the market. Developing countries like China and India provide huge and largely untapped markets for Insulin Delivery Device market.
North America contributed the largest share in the global insulin delivery devices market in 2016, of about 40%. Asia-Pacific is projected to grow at the highest CAGR during the period forecast till 2022.
Browse full research report with TOC on " Insulin Delivery Devices Market by Type (Insulin Syringes, Insulin Pens, Insulin Pumps), Application (Type I Diabetes & Type II Diabetes) - Global Market Analysis, Size, Geographic Regional Analysis, Competitive Strategies Analysis and Forecasts (2016 to 2022)" at: https://www.marketdataforecast.com/market-reports/global-insulin-delivery-devices-market-258/
Market Data Forecast has segmented the global insulin delivery devices market on the basis of type, application and region: Type (Volume, Kilograms; Revenue, USD Thousands; 2016 - 2022). Insulin Syringes, Insulin Pens, Insulin Pumps, Application (Volume, Kilograms; Revenue, USD Thousands; 2016 - 2022). Type I Diabetes & Type II Diabetes. Regional Outlook (Volume, Kilograms; Revenue, USD Thousands; 2016-2022)
Further Key Findings From the Report Suggest:
Advanced insulin delivery devices market is segmented based on the type and application.
Insulin syringes provided the largest share of the global insulin delivery devices market in 2016, whereas insulin pens segment is projected to grow at the highest CAGR during the forecast period 2016-2022.
North America accounted for the largest share of 40.5% of the global insulin delivery devices market in 2015.
Asia-Pacific is estimated to grow at the highest CAGR of 9.10% during the forecast period 2016-2022.
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