Wearable Insulin Devices Market: Global Market Size, Dynamics, Regional Share, Trends, Competitor Analysis 2015 to 2020 and Forecast 2021 to 2027

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Wearable Insulin Devices Market: By Product Type (Patches and Pods), By Age Group (Adults and Pediatrics), By Distribution Channel (Hospital Pharmacies, Online Pharmacies, and Others), and Geography – Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2015-2020 and Forecast 2021-2027

 

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Description

Global wearable insulin devices market was valued at US$ 17 Bn in 2020 and expected to grow at 8.9% Compound Annual Growth Rate (CAGR) from 2021 to 2027. Wearable insulin devices are the medical devices that helps in controlling or maintaining the blood glucose in the patient’s body. The insulin is the major part in the treatment of diabetes. Insulin is the hormone made by the pancreas which allows the body to use or store the sugar or the glucose from carbohydrates form the food. It allows to maintain the blood sugar level form either getting too high, which would result in hyperglycemia or from getting too low which would result in hypoglycemia. Over the projection period, widespread availability of wearable insulin devices market such as insulin pens, syringes, pumps, and jet injectors will additionally boost demand for insulin delivery devices. Increased public awareness initiatives and campaigns regarding diabetes and its complications, long-term consequences, and treatment will drive demand for insulin-delivery devices. Obesity and diabetes are on the rise all over the world, which is fueling the market for insulin delivery devices. More significant aspects projected to have a positive impact on market growth include technological advancements in these devices, as well as increased patient knowledge regarding diabetes management. Insulin jet injections have no needles, whereas insulin pumps are comfortable to wear. Each device type has its own set of characteristics, but insulin pumps are expected to be a substantial income generator for the market. In the coming years, the market for insulin pumps will be propelled by the launch of enhanced insulin delivery systems, such as portable insulin pumps.

Wearable Insulin Devices Market

MARKET SUMMARY
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8.9% CAGR
  • Study Period– 2021-2027
  • Base Year– 2020
  • CAGR– 8.9%
  • Largest Market– North America
  • Fastest Growing Market– Asia Pacific

Wearable Insulin Devices Market

  • The report on global Wearable Insulin Devices Market gives historical, current, and future market sizes (US$ Bn) on the basis of product type, age group, distribution channel and geography.
  • Wearable Insulin Devices Market report gives comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
Key Players
  • Omnipod (U.S)
  • Valeritas, Inc. (U.S)
  • CeQur (Switzerland)
  • Prometheon Pharma (U.S)
  • Sproutel (U.S)
Dynamics

Wearable Insulin Devices Market

Increase in the prevalence of diabetes is the major factor anticipated to drive the growth of wearable insulin devices market. Increasing health issues such as obesity and launch technologically advanced devices anticipated to fuel the growth of wearable insulin devices market. The rising awareness among the patient population with regard to advanced treatment options and increasing healthcare expenditure are expected to boost the wearable insulin devices market. The adoption of the self-care diabetes management methods and increasing R&D activities are providing opportunity to the manufacturers to further expansion of the market. However, the high cost of the device may hamper the growth of the wearable insulin devices market.


North-America got significant share

Wearable Insulin Devices Market

Geographically, global wearable insulin devices market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North Americawearable insulin devices market is dominant when compared with that of the other regional markets owing to favorable reimbursement policies and increase in the prevalence of diabetes and obesity. According to the Centers for Disease Control and Prevention (CDC) in the year of 2016, there were 29 million patients in U.S. who are still suffering with diabetes, of which 21.0 million patients were diagnosed and 8.1 million patients are undiagnosed. The increasing awareness about the self-treatment procedures is also enhancing the growth of the wearable insulin devices market. The Asia Pacific is the region expected to offer lucrative growth opportunities owing to large untapped market and availability of large diabetic patient pool in India and China.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Key Features of the Report

  • The report covers exhaustive regional information, that includes North America, Asia-Pacific, Latin America and Middle East and Africa.
  • The report provides granular level information about the market size, regional market share, historic market (2015-2020) and forecast (2021-2027)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments and startup’s details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework and reimbursement scenario

Wearable Insulin Devices Market Segmentation


Location

GEOGRAPHY


Report

Table Of Content


Report

Company Profile

  • Omnipod (U.S)
  • Valeritas, Inc. (U.S)
  • CeQur (Switzerland)
  • Prometheon Pharma (U.S)
  • Sproutel (U.S)
  • MedicSen (Spain)

Description

Global wearable insulin devices market was valued at US$ 17 Bn in 2020 and expected to grow at 8.9% Compound Annual Growth Rate (CAGR) from 2021 to 2027. Wearable insulin devices are the medical devices that helps in controlling or maintaining the blood glucose in the patient’s body. The insulin is the major part in the treatment of diabetes. Insulin is the hormone made by the pancreas which allows the body to use or store the sugar or the glucose from carbohydrates form the food. It allows to maintain the blood sugar level form either getting too high, which would result in hyperglycemia or from getting too low which would result in hypoglycemia. Over the projection period, widespread availability of wearable insulin devices market such as insulin pens, syringes, pumps, and jet injectors will additionally boost demand for insulin delivery devices. Increased public awareness initiatives and campaigns regarding diabetes and its complications, long-term consequences, and treatment will drive demand for insulin-delivery devices. Obesity and diabetes are on the rise all over the world, which is fueling the market for insulin delivery devices. More significant aspects projected to have a positive impact on market growth include technological advancements in these devices, as well as increased patient knowledge regarding diabetes management. Insulin jet injections have no needles, whereas insulin pumps are comfortable to wear. Each device type has its own set of characteristics, but insulin pumps are expected to be a substantial income generator for the market. In the coming years, the market for insulin pumps will be propelled by the launch of enhanced insulin delivery systems, such as portable insulin pumps.

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