subject: Insulin Delivery Devices - Global Pipeline Analysis, Opportunity Assessment and Market Forecasts to 2016 [print this page] Insulin Delivery Devices - Global Pipeline Analysis, Opportunity Assessment and Market Forecasts to 2016
Report Reserve announces inclusion of a new market research report to its premium store.
GlobalData's new report, "Insulin Delivery Devices - Global Pipeline Analysis, Opportunity Assessment and Market Forecasts to 2016" provides key data, information and analysis on the global insulin delivery devices market. The report provides market landscape, competitive landscape and market trends information on the insulin delivery devices market. The report provides comprehensive information on the key trends affecting the market, and key analytical content on the market dynamics. The report also reviews the competitive landscape and technology offerings. This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GlobalData's team of industry experts.
The Global Insulin Delivery Devices Market is Forecast to Reach $10.8 billion in 2016 after Growing at a CAGR of 6.8% During 2009-2016
Source: GlobalData, Secondary Research and Interviews with Industry Experts and Key Opinion Leaders
The global insulin delivery devices market is expected to grow at a CAGR of 6.8% from 2009-2016, to reach $10.8 billion in 2016. An increasing diabetic population is the major driver of the insulin delivery devices market. The increasing incidence of diabetes is expected to drive the diabetes care devices market in the future. According to the IDF (International Diabetes Federation), the global incidence of diabetes among adults aged 20-79 years, is 6.6% in 2010, and will increase to 7.8% by 2030. About 220 million people worldwide have diabetes, and it will reach 336 million by 2030. Market opportunities are greatest in emerging countries, as 80% of all new cases of diabetes are expected to be reported in these countries by 2025.
Also, the incidence of childhood onset type 1 diabetes, in the under 15-year age group, is increasing in many countries in the world. Annually, about 76,000 children aged below 15 years, develop type 1 diabetes worldwide. This large and growing number of insulin dependent diabetes patients, especially in the US, Western Europe, and Japan, has resulted in an increasing demand for insulin. This type 1 diabetic population, serves as the major patient pool for insulin delivery devices. Increases in sales of insulin are leading to higher demand for insulin delivery devices.
Also, increasing demand for non-invasive devices, is leading to the development of new technologies, which in turn will increase patient adoption of newer devices.
Insulin Pumps Segment is Expected to Remain the Fastest Growing Segment Driven by Advantages Offered to Niche Patient Groups
Source: GlobalData, Secondary Research and Interviews with Industry Experts and Key Opinion Leaders
The global insulin pumps market was valued at $0.5 billion in 2009, and is forecast to reach $1 billion in 2016, growing at a CAGR of 9.7% from 2009 to 2016. The advantages offered by insulin pumps, such as tighter control of glucose and a reduced risk of hypoglycemia for niche patient groups such as children and pregnant women, have resulted in the faster adoption of insulin pumps over the past few years.
Also, advances in technology, such as the emergence of an artificial pancreas and an insulin and glucagon delivery system, are expected to drive patient adoption of insulin pumps. The artificial pancreas, or closed loop system, mimics the function of a normal pancreas, and thus provides tighter glucose control. The presence of an algorithm and glucose sensor helps the delivery of continuous and accurate doses of insulin through the closed loop system, which is expected to help type 1 diabetic patients in efficient glucose control. Rising patient awareness and a growing elderly population are the other major drivers of the insulin pumps market.
Technological Advances to Drive Insulin Delivery Devices Market in the Future
The increasing demand for non-invasive devices is driving the development of new technologies. Emerging technologies include the artificial pancreas, insulin patch pumps, transdermal insulin delivery systems, and insulin glucagon delivery systems which are currently in the pipeline. The artificial pancreas is expected to enable patients to regulate their blood glucose in much the same way as a non-diabetic's pancreas does. A mathematical algorithm is applied to the artificial pancreas or closed-loop system, which continuously monitors glucose levels and automatically delivers insulin to patients. The MEMS (Micro Electro Mechanical Systems) technology in conjunction with the insulin delivery device helps in the control of insulin delivery from the pump at a nanolitre level, which is similar to the physiological delivery of insulin. Transdermal insulin delivery is a non-invasive, less painful method, which provides precise control of the dosage and delivery time by controlling the depth of penetration. These devices, with the application of new technologies, are expected to be more efficacious, smaller in size and reduce errors compared to currently marketed products. They are expected to provide tighter control of glucose levels without any incidence of hypoglycemia and help in improving a patient's quality of life.
As patients, especially in the developed economies, become increasingly aware of the latest technological developments, this in turn will drive the acceptance and market penetration of products currently in the pipeline. These technological advances are expected to drive demand in the insulin delivery devices market.
NovoNordisk, EliLilly and Medtronic, with a Combined Market Share of About 50%, Dominate the Global Insulin Delivery Devices Market
Insulin Delivery Devices Market, Global, Key Company Shares, %, 2009
Source: GlobalData, Secondary Research and Interviews with Industry Experts and Key Opinion Leaders
The global insulin delivery devices market was dominated by Novo Nordisk A/S with 18%, followed by Eli Lily and Company with a 16% market share. The top three players accounted for 47% of total market value in 2009. NovoNordisk is the market leader in the insulin pens market with Flexpen and Novopen as their major products. Eli Lilly and Company is the second biggest player with the Humalog pen and Humulin pen as their major revenue generators. Medtronic, with a 13% share, has a significant presence in the insulin delivery devices market, and is the leader in the insulin pumps market. The company's MiniMed Paradigm is the best selling product in this area. Becton, Dickinson and Company (11%), Sanofi-Aventis (10%) and Roche (6%), also have a significant presence in the insulin delivery devices market. For more details, please vist http://www.reportreserve.com/reportdet.php?company=GlobalData&reportid=13212
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