Pens Segment to Dominate the United States Insulin Delivery Devices Market
Rising diabetic population and increasing obese population is expected to drive the United States insulin delivery devices market for the forecast period.
According to TechSci Research report, “United States Insulin Delivery Devices Market By Product Type (Pens, Pumps, Pen Needles, Others) By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online, Others) By End User (Hospitals & Clinics, Homecare, Others), By Region, Company Forecast & Opportunities, 2026”, the United States insulin delivery devices market is expected to witness significant growth for the next five years. Insulin dose can be re-direct the glucose to move away from bloodstream to muscles and adipose tissues. Insulin cannot be administrated in form of tablets or taken orally in liquid form as it can be degenerated with time while moving from mouth to other body parts by the effect of digestive juices and enzymes. Insulin can be administrated into the body with variety of medical devices including insulin pumps, syringes, pens, and jet injectors. Manufacturers are introducing insulin devices which are highly portable in nature, have user-friendly design and small in size therefore increasing the market demand for these devices. Rising availability for these devices and adoption of marketing strategies to widen the brand image is expected to influence the market growth. Increasing geriatric population who are more prone to getting infected with various diseases due to low immunity level is a significant factor contributing to strengthen the market.
The COVID-19 outbreak across the world which has been declared as pandemic by World Health Organization has affected several countries adversely. Leading authorities in United States imposed lockdown restrictions and released a set of precautionary measures to contain the spread of novel coronavirus. Coronavirus affected patients started suffering from shortness of breath. United States authorities increased the capacity of hospitals as a greater number of patients were getting affected daily and getting admitted into the hospital facilities. The demand for critical care devices increased during this period. Diabetic patients are more prone to getting affected by novel coronavirus. Rise in number of patients suffering from diabetes increased significantly during this period thereby boosting the demand for insulin delivery devices.
However, high cost for insulin delivery device and stringent government regulations may create hindrance in the growth of the insulin delivery devices market.
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United States insulin delivery device market is segmented into product type, distribution channel, end user, regional distribution, and company. Based on product type, market can be divided into pens, pumps, pen needles, and others. The pens segment is expected to account for major market share for the forecast period, 2022-2026. Insulin pens are further bifurcated into reusable insulin pens and disposable insulin pens. Advance insulin pens have several benefits over traditional way of inserting insulin into the body. Ease of convenience and the flexibility of using insulin pens does not affect the daily life and maintain the quality of life for diabetic patients. Based on distribution channel, market can be fragmented into hospital pharmacies, retail pharmacies, online, and others. The online distribution channel segment is expected to dominate the market for the next five years. Growing e-commerce channels and the ease and convenience of buying online without the hassle of visiting hospitals and pharmacies is aiding to increase the growth of this segment. Fast delivery along with lucrative offers and discounts is attracting buyers to order online.
Medtronic USA, Inc., Roche Diagnostics Corporation, Becton, Dickinson and Company, Novo Nordisk Inc., Sanofi-Aventis U.S. LLC, Eli Lilly & Company, Abbott Laboratories, Inc., B. Braun Medical Inc., Tandem Diabetes Care, Inc., Insulet Corporation are the leading players operating in United States insulin delivery devices market. Manufacturers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several insulin delivery devices manufacturers are coming up with their technologically advanced offerings.
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“Market players are continuously investing huge amounts to advance the way insulin is administrated into the body. Launch of medical devices such as smart pens, automatic insulin delivering devices containing innovative features like patient diary, memory storage, alerts, and notifications, among others are fueling the sales of products. Increasing cases of hyperglycemia and development of self-injectable insulin delivery devices are the other two contributing factors leading to the market growth. Therefore, the product advancements are expected to propel the insulin delivery devices market growth till 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“United States Insulin Delivery Devices Market By Product Type (Pens, Pumps, Pen Needles, Others) By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online, Others) By End User (Hospitals & Clinics, Homecare, Others), By Region, Company Forecast & Opportunities, 2026” has evaluated the future growth potential of United States insulin delivery devices market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of United States insulin delivery devices market.
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