371 Million people had diabetes in 2012 and by 2030 this number is expected to rise to 552 Million. This finding by International Diabetes Federation (IDF) and similar results from studies done by organizations of repute like WHO, CDC, NHS etc. suggest that a huge patient population exists for the diabetes healthcare market. It is estimated that in 2011, around US$ 465 Billion were spent on healthcare expenditures related to diabetes. Of all the market segments that result from this multibillion dollar expenditure, insulin delivery devices represents one of the most rapidly expanding areas and is thus the key focus of RNCOS’ current study.
In latest research study, “Global Insulin Delivery Devices Market Forecast to 2017”, the company’s analysts identified market dynamics in various important regions to highlight the areas offering promising possibilities for companies to boost their growth. The market, which stood at US$ 8.8 Billion in 2012, is expected to grow at a CAGR of 8.5% during 2012-2017.
Insulin delivery devices predominantly include Insulin Syringes, Insulin Pens (Disposable and Reusable), Insulin Pumps and Insulin Jet Injectors. Our study provides a comprehensive analysis of delivery devices’ market, both at global and regional levels. This analysis includes the current market statistics, key drivers stimulating each segment’s growth and its future outlook.
The analysis will help the reader to assess the current market penetration of various devices in different regions, which varies significantly due to consumer preferences, and seeks viable business opportunities. For instance, our research revealed that while insulin reusable pens were mostly popular in China and represented one of the most exciting growth areas, insulin syringes market was all set to grow in the regions of India and Brazil.
RNCOS’ study leads to the proposition that innovation has huge scope in this field and its analysts have advertently elaborated some of the emerging insulin delivery devices. Finally, an analysis of the leading market players provides a holistic understanding to the reader. Players covered include Novo Nordisk, Eli Lilly, Sanofi-Aventis, Medtronic, Roche, Becton, Dickinson and Company that together account for more than 90% of the global market.
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RNCOS specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals analyze the industry and its various components, with a comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the intending consultants in meeting their objectives in a cost-effective and timely manner.