Asia-Pacific Insulin Delivery Devices Market – Industry Trends and Forecast to 2030

 Asia-Pacific Insulin Delivery Devices Market Analysis and Size

According to the tenth edition of the Diabetes Atlas published by the International Diabetes Federation (IDF), 537 million persons worldwide will have diabetes by 2045, up from an estimated 643 million by 2030. Furthermore, the study notes that 79% of adults with diabetes reside in low and middle-income nations. Additionally, a WHO 2021 report estimates that diabetes directly contributed to 1.5 million fatalities in 2019. In order to properly manage diabetes, there will likely be greater demand for insulin delivery devices as diabetes prevalence rises among the population.

Data Bridge Market Research analyses that the insulin delivery devices market which is USD 3.81 billion in 2022, is expected to reach USD 6.50 billion by 2030, at a CAGR of 6.9% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Asia-Pacific Insulin Delivery Devices Market Scope and Segmentation  

Market Definition

Insulin is a hormone that controls glucose levels in the body. It is crucial to many people's recovery from advanced type II diabetes mellitus, also known as T2DM, and type I diabetes mellitus, also known as T1DM. Glucose can be produced and utilized as energy in adipose and muscular tissues by being transferred from the circulation by insulin. It cannot be administered orally or as a tablet because digestive acids and enzymes break down insulin before it enters the bloodstream. As a result, the fat tissue absorbs the insulin injection.

Asia-Pacific Insulin Delivery Devices Market Dynamics

Drivers

• Rise of insulin delivery devices

The rising incidence of diabetes significantly influences the rise of insulin delivery devices. The industry is anticipated to develop significantly due to the desire for insulin delivery devices since this is a dependable alternative and delivers patient satisfaction as the population of people with diabetes continues to increase daily. In the upcoming years, it's anticipated that there will be 700 million diabetic patients, which will cause the industry to expand. The market for insulin delivery devices is anticipated to gain from the rise in type 1 diabetes cases. Type 1 diabetes necessitates extremely intense insulin therapy in order to survive. Type 1 diabetes is distinguished by the body's inability to produce insulin. The favorable reimbursement policies supported by the governments of various nations are those that are celebrating the market's growth. As diabetes-related healthcare expenditures rise in many emerging economies, the market for insulin delivery devices is expected to expand during the forecast period.

• Rise in the cases of diabetes

The creation and endorsement of cutting-edge insulin delivery systems for the management of type I diabetes, which has a prevalence of 9.5% and an incidence of 15 cases per 100,000 people, according to an NCBI 2020 article. Type 1 diabetes prevalence and incidence worldwide, a systematic review and meta-analysis by Mobasseri M. also expected to drive the market for insulin delivery devices. For instance, the MiniMed 770G System, a hybrid closed-loop diabetes management device, was approved by the U.S. Food and Drug Administration (FDA) in 2020. It is intended to monitor glucose (sugar) automatically and provide the proper basal insulin doses with little to no input from the users or their carers for use by children and young adults with type diabetes. These are the certain factors which propel the market growth.

Opportunities

• Technological advancements in insulin delivery devices

The market is anticipated to experience growth due to manufacturers' increasing focus on creating smart insulin pens coupled with real-time continuous glucose monitoring data to enable effective diabetes treatment for patients. For instance, Medtronic just introduced InPenTM, the first and only FDA-cleared smart insulin pen for people who require numerous daily injections, in the year 2020. InPenTM is coupled with real-time Guardian ConnectTM CGM data (MDI).

Restraints/Challenges

• Risks associated with the insulin delivery devices

The horrifying routines of food consumption and smoking are unhealthy ways of life. These behaviors increase the risk of type 2 diabetes. One of the major causes of diabetes type 2 risk factors is work culture. Cigarette smoking should also be avoided because it increases the risk of developing type 2 diabetes compared to nonsmokers.

This insulin delivery devices market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the insulin delivery devices market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on the Insulin Delivery Devices Market

The COVID-19 epidemic had a severe effect on every industry in the world. However, this pandemic had a favourable effect on the market for insulin delivery devices. The rising prevalence of diabetes and obesity were two of the main causes of this favorable effect. Due to the pandemic's breakout condition, the demand for protective equipment including insulin delivery devices, such as insulin pumps, pens and syringes, among others, unexpectedly increased. This pandemic posed a serious threat to the population, which is also the reason for the rise in demand for protective gear and the upward trajectory of this market's revenue growth. In the year 2020, COVID-19 pandemic plays a very significant role in the expansion of insulin delivery devices. Furthermore, well-known market companies who compete in this industry have benefited from this favorable effect by streamlining their revenue streams and expanding their reach around the globe.

Recent Developments

• In 2022, Novo Nordisk launched smart insulin in the United Kingdom. The introduction of this novel product will contribute to the company's industrial position in the new K region.
• In 2020, A next-generation closed-loop insulin pump system for treating type 1 diabetes in patients aged 7 to 80, the MiniMedTM 780G system from Medtronic got CE (Conformité Européenne) Marking.
• In 2020, Abbott and Insulet Corporation signed a partnership agreement to combine Abbott's glucose-sensing technology with Insulet's cutting-edge tubeless system, the Omnipod HorizonTM Automated Insulin Delivery (AID) System (Omnipod Horizon System), to provide individuals with diabetes with personalized automated insulin delivery and care.

Asia-Pacific Insulin Delivery Devices Market Scope

The insulin delivery devices market is segmented on the basis of type, application, distribution channels and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Insulin Pumps
• Tubed/Tethered
• Tubeless
• Insulin Pens
• Reusable
• Disposable
• Insulin Pen needles
• Standard
• Safety​​​​​​​
• Insulin Jet Injectors
• Insulin Syringes
• Others

Application

• Type I Diabetes
• Type II Diabetes 

End User

• Home Care
• Hospitals & clinics
• Others

Distribution Channels

• Online Sales
• Hospital Pharmacies
• Retail Pharmacies
• Other Clinics

Insulin Delivery Devices Market Regional Analysis/Insights

The insulin delivery devices market is analyzed and market size insights and trends are provided by country, type, application, distribution channels and end-user as referenced above.

The countries covered in the insulin delivery devices market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

China is expected to grow at the highest growth rate in the forecast period of 2023 to 2030 due to emerging countries in terms of GDP, the existence of a sizable population affected by diabetes, and the growing awareness of the disease among people.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Healthcare Infrastructure Growth Installed base and New Technology Penetration

The insulin delivery devices market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for insulin delivery devices market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the insulin delivery devices market. The data is available for historic period 2011-2021.

Competitive Landscape and Insulin Delivery Devices Market Share Analysis

The insulin delivery devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to insulin delivery devices market.

Some of the major players operating in the insulin delivery devices market are:

• BD (U.S.)
• Medtronic (Ireland)
• Ypsomed (Switzerland)
• Novo Nordisk India Pvt Ltd (India)
• Beta Bionics Inc. (U.S.)
• Owen Mumford Ltd. (U.K.)
• Sanofi (France)
• Tandem Diabetes Care, Inc (U.S.)
• Copernicus (Poland)
• Insulet Corporation (U.S.)
• Biocon (India)
• Eli Lilly and Company (U.S.)
• West Pharmaceutical Services, Inc. (U.S.)
• F. Hoffmann-La Roche Ltd (Switzerland)
• Debiotech S.A (Switzerland)
• InsuJet (Netherlands)
• SHL (U.K.)
• SOOIL Developments Co., Ltd (South Korea)

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