Over 6.0% CAGR Predicted in Global Insulin Delivery Device Market During 2016—2022

The global insulin delivery device market generated a revenue of 9.9 billion in 2015 and is predicted to advance at a CAGR of 6.6% between 2016 and 2022.

The growth of the market is being caused by the surging geriatric population, the increasing population of obese people, and the growing incidence of chronic diseases across the world. Additionally, the rising public awareness about insulin delivery devices and rapid technological advancements in these devices are fueling the expansion of the market.

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The surging population of obese individuals is a prominent growth driver of the insulin delivery device market. Obesity increases the risk of various diseases and medical conditions such as type 2 diabetes, cardiovascular diseases, and hypertension. In many countries, the population of obese people is growing rapidly. This is augmenting the incidence of diabetes, which is, in turn, propelling the demand for insulin delivery devices. As per the WHO, nearly 2.8 million deaths are caused every year because of obesity.

Additionally, the organization also found that around 44% of the total diabetes cases reported across the globe are caused due to excess weight or obesity. Patients suffering from diabetes can administer insulin into their bodies with the help of different kinds of devices. When type is taken into consideration, the insulin delivery device market is classified into syringes, pens, and pumps. Amongst these, the pumps category is predicted to exhibit the fastest growth in the market in the upcoming years.

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Geographically, the insulin delivery device market is currently recording the highest growth in North America. Europe is the second-most lucrative market in the world. As per industry experts, the industry is predicted to surpass $4.0 billion valuation by 2022. The industry growth in this region is being driven by the soaring prevalence of various non-communicable diseases such as respiratory diseases, heart diseases, cancer, and diabetes. Moreover, the growing incidence of diabetes is also powering the market growth in this region.

Hence, it is safe to say that owing to the rising prevalence of diabetes, due to the soaring population of obese individuals and geriatric people, the market would register substantial growth across the world in the forthcoming years.

This study covers

• Major factors driving the market and their impact during the short, medium, and long terms
• Market restraints and their impact during the short, medium, and long terms
• Recent trends and evolving opportunities for the market participants
• Historical and the present size of the market segments and understand their comparative future potential
• Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
• Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
• Major players operating in the market and their service offerings

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