The global insulin delivery devices market is driven by a rise in the prevalence of diabetes and related major chronic diseases. The global market was valued at US$ 10,385.0 Mn in 2017 and is projected to reach US$ 21,783.3 Mn by 2026, expanding at a CAGR of 8.7% from 2018 to 2026.
Transparency Market Research (TMR) has published a new report titled ‘Insulin Delivery Devices Market
- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 to 2026.’ According to the
report, the global insulin delivery devices market was valued at US$ 10,385.0 Mn in 2017 and is
projected to reach US$ 21,783.3 Mn by 2026, expanding at a high CAGR of 8.7% from 2018 to 2026.
Increase in the prevalence rate of diabetes and related diseases across the world is anticipated to fuel
the global insulin delivery devices market during the forecast period.
North America and Europe are expected to dominate the global market during the forecast period. The
market in these regions is primarily driven by an increase in government initiatives and a highly
structured health care industry. The market in Europe is projected to expand at a CAGR of 7.7% from
2018 to 2026. The market in Asia Pacific is anticipated to expand at a high CAGR of 10.4% from 2018 to
2026. The insulin delivery devices market in Latin America is likely to expand at a moderate growth rate
during the forecast period.
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Increase in Preference for Insulin Pens to Boost Market
In terms of product, the insulin pens segment is projected to account for a dominant share of the global
insulin delivery devices market during the forecast period. The segment is anticipated to expand at a
CAGR of 8.4% from 2018 to 2026. High adoption rate, rising popularity among consumers, and user-
friendly design of insulin pens are contributing to the significant revenue share of this segment. An
increase in focus of manufacturers on promoting innovation and advanced technology is another key
factor contributing to the high share. The insulin pumps segment held a major share of the market, due
to an increase in preference for non-invasive insulin delivery systems. The insulin syringe and other
segments accounted for around 27.0% share of the gl