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 can not 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 devices 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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