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The new report published by The Business Research Company, titled Insulin Delivery Devices Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the insulin delivery devices market size has grown strongly in recent years. It will grow from $16.38 billion in 2023 to $17.71 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The insulin delivery devices market size is expected to see strong growth in the next few years. It will grow to $24.32 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%.

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What Is Driving The Growth Of The Global Insulin Delivery Devices Market?

Impact Of Diabetes Prevalence On The Insulin Delivery Devices Market
The growing prevalence of diabetes is expected to propel the growth of the insulin delivery device market going forward. Diabetes is a chronic condition marked by high blood sugar levels caused by either inadequate insulin production from the pancreas or the body's inability to effectively utilize insulin. Diabetes rates are increasing primarily due to factors such as sedentary lifestyles, unhealthy diets, and rising obesity rates globally. Insulin delivery devices are required for diabetes to help individuals manage their blood sugar levels effectively by administering insulin in a controlled and convenient manner, thereby preventing complications and promoting health. For instance, in December 2022, according to the Centers for Disease Control and Prevention, a US-based government agency, the number of young people under age 20 with type 2 diabetes in the United States could increase by nearly 700% by 2060, potentially reaching 220,000 individuals. Over the same period, diagnoses of type 1 diabetes among young people could rise by as much as 65%. Therefore, the growing prevalence of diabetes is driving the growth of the insulin delivery device market.

What Is The Key Trend In The Global Insulin Delivery Devices Market?

Innovative Developments In Insulin Delivery Devices
Major companies operating in the insulin delivery device market are developing innovative products, such as insulin pumps, to provide continuous or customizable insulin delivery. Insulin pumps are programmable medical devices that deliver insulin continuously or as needed through a catheter placed under the skin. For instance, in May 2023, Beta Bionics, a US-based medical technology company, announced U.S. Food and Drug Administration approval for the iLet ACE Pump and the iLet Dosing Decision Software. The iLet Bionic Pancreas system is designed for individuals aged six and older with type 1 diabetes, combining two devices with a compatible FDA-cleared integrated continuous glucose monitor (iCGM). It operates using an automated insulin dosing (AID) system driven by an adaptive closed-loop algorithm, which initially uses only the user's body weight for setup and eliminates the need for additional insulin dosing parameters. Unlike traditional pump therapy, this system requires no manual adjustment of settings, making it easier to initiate and manage. The iLet device also introduces a meal announcement feature that simplifies mealtime insulin dosing by categorizing meals as small, medium, or large, with the algorithm learning and adapting to individual insulin requirements over time.

How Is The Global Insulin Delivery Devices Market Segmented?
The insulin delivery devices market covered in this report is segmented -

1) By Type: Insulin Syringes, Insulin Jet Injectors, Pen Needles, Reusable Insulin Pens, Disposable Insulin Pens, Insulin Pumps, External Or Tethered Pumps, Patch Pumps
2) By Disease Indication: Type 1, Type 2
3) By Distribution Channels: Hospital Pharmacies, Retail Pharmacies, Online Sales, Diabetes Clinics Or Centres

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How Is The Competitive Landscape Of The Global Insulin Delivery Devices Market?
Major companies operating in the insulin delivery devices market are Sanofi SA, Abbott Laboratories, F. Hoffmann-La Roche Ltd., Medtronic Plc, Eli Lilly and Company, Novo Nordisk A/S, Becton, Dickinson and Company, EOFlow Co. Ltd., Insulet Corporation, Tandem Diabetes Care Inc., Ypsomed Holding AG, Xeris Pharmaceuticals Inc., Beta Bionics Inc., Zealand Pharma AS, Bigfoot Biomedical Inc., Emperra GmbH, Animas Corporation, Debiotech SA, CeQur Corporation, Aerami Therapeutics Inc., Alshifa Medical Group, AMF Medical SA, Andain Inc., Avecho Biotechnology Ltd., Apex Medical Devices

Contents Of The Global Insulin Delivery Devices Market
1. Executive Summary
2. Insulin Delivery Devices Market Report Structure
3. Insulin Delivery Devices Market Trends And Strategies
4. Insulin Delivery Devices Market - Macro Economic Scenario
5. Insulin Delivery Devices Market Size And Growth
…..
27. Insulin Delivery Devices Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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