Global Wearable Insulin Devices Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2017 and Forecast 2018-2024
Global Wearable Insulin Devices Market: By Product Type (Patches and Pods), By Age Group (Adults and Pediatrics), By Distribution Channel (Hospital Pharmacies, Online Pharmacies, and Others), and Geography – Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2017 and Forecast 2018-2024
Global wearable insulin devices market was valued at US$ XX Mn in 2017 and expected to grow at XX% Compound Annual Growth Rate (CAGR) from 2018 to 2024
Market Outline: Wearable Insulin Devices Market
Wearable insulin devices are the medical devices that helps in controlling or maintaining the blood glucose in the patient’s body. The insulin is the major part in the treatment of diabetes. Insulin is the hormone made by the pancreas which allows the body to use or store the sugar or the glucose from carbohydrates form the food. It allows to maintain the blood sugar level form either getting too high, which would result in hyperglycemia or from getting too low which would result in hypoglycemia.
Market Dynamics: Wearable Insulin Devices Market
Increase in the prevalence of diabetes is the major factor anticipated to drive the growth of wearable insulin devices market. Increasing health issues such as obesity and launch technologically advanced devices anticipated to fuel the growth of wearable insulin devices market. The rising awareness among the patient population with regard to advanced treatment options and increasing healthcare expenditure are expected to boost the wearable insulin devices market. The adoption of the self-care diabetes management methods and increasing R&D activities are providing opportunity to the manufacturers to further expansion of the market. However, the high cost of the device may hamper the growth of the wearable insulin devices market.
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Market Scope: Wearable Insulin Devices Market
Wearable insulin devices market is segmented based on the product type, age group, and distribution channel
Based on the product type, the market is segmented into the following:
- Patches
- Pods
Based on the age group, the market is segmented into the following:
- Adults
- Pediatrics
Based on the distribution channel, the market is segmented into the following:
- Hospital Pharmacies
- Online Pharmacies
- Others
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Regional Analysis: Wearable Insulin Devices Market
Geographically, global wearable insulin devices market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America wearable insulin devices market is dominant when compared with that of the other regional markets owing to favorable reimbursement policies and increase in the prevalence of diabetes and obesity. According to the Centers for Disease Control and Prevention (CDC) in the year of 2016, there were 29 million patients in U.S. who are still suffering with diabetes, of which 21.0 million patients were diagnosed and 8.1 million patients are undiagnosed. The increasing awareness about the self-treatment procedures is also enhancing the growth of the wearable insulin devices market. The Asia Pacific is the region expected to offer lucrative growth opportunities owing to large untapped market and availability of large diabetic patient pool in India and China.
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Competition Assessment: Wearable Insulin Devices Market
Some of the players in the global wearable insulin devices market include:
- Omnipod (U.S)
- Valeritas, Inc. (U.S)
- CeQur (Switzerland)
- Prometheon Pharma (U.S)
- Sproutel (U.S)
- MedicSen (Spain)
Notable Market Developments: Wearable Insulin Devices Market
- In January 2018, Valeritas launches V-Go wearable insulin delivery device in Puerto Rico.
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