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The diabetes drug delivery devices market is estimated to be worth $13 billion in 2020 and is expected to grow at CAGR of 9% during the forecast period. Diabetes is considered to be among the seventh leading causes of mortality worldwide. The chronic and debilitating nature of the condition has a severe impact on the quality of life of patients. According to the World Health Organization (WHO), more than 400 million individuals across the world are currently suffering from diabetes; this number is estimated to reach over 570 million by 2030. Insulin injection and non-insulin therapies are considered to be the primary treatment options for diabetes management. In addition, a number of innovative drugs / therapies for the treatment and management of diabetes have been developed; these are gradually being introduced into the market. It is worth mentioning that insulin, one of primary therapeutic solutions prescribed for treating diabetes, and a few other medications, require parenteral administration. Moreover, since glycemic control is required multiple times in a day, the frequency of administration of such drugs is high (3-4 times a day). There are multiple concerns surrounding parenteral drug delivery, such as chances of dosing-related errors, risk of microbial contamination and needlestick injuries. Since insulin and other such diabetes medications are usually self-administered, the aforementioned concerns are compounded, given that most patients lack the required medical training and / or are not cautious while self-medicating. As a result, there is a stigma associated with the risks of self-medication, which, in turn, has an impact on the patients’ drug adherence to prescribed regimens. Overall, the therapeutic efficacy is compromised, and patients fail to benefit from the recommended intervention.
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Over the past few years, a number of companies have developed advanced drug delivery solutions, such as insulin pumps, pen injectors / autoinjectors, jet injectors, intranasal drug delivery solutions and microneedle-based patches, in order to address the aforementioned challenges. In addition, the stakeholders are actively focusing on introducing innovative features, such as the development of integrated continuous glucose monitoring (CGM) system (also known as artificial pancreas) with insulin pumps, artificial intelligence algorithms, visual / audible drug delivery confirmation notifications, automatic drug reconstitution, and error alerts. We believe that such efforts are likely to drive growth in diabetes drug delivery devices market during the forecast period.
Examples of key companies engaged in diabetes drug delivery devices market (which have also been profiled in this market report; the complete list of companies is available in the full report) include Bigfoot Biomedical, Debiotech, Haselmeier, Medtronic, Novo Nordisk, Roche, SOOIL, and Ypsomed. This market report includes an easily searchable excel database of all the companies providing diabetes drug delivery devices, worldwide.
Several recent developments have taken place in the field of diabetes drug delivery devices market. We have outlined some of these recent initiatives below. These developments, even if they took place post the release of our market report, substantiate the overall market trends that have been outlined in our analysis.
The “Diabetes Drug Delivery Devices Market, 2020-2030” market report features an extensive study of the current market landscape, market size, market share, market growth, market forecast, market outlook and future opportunities of the diabetes drug delivery devices market. The market research report features a detailed analysis of the key drivers and trends related to diabetes drug delivery devices market.
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Amongst other elements, the market report includes:
The key objective of diabetes drug delivery devices market report is to provide a detailed market analysis in order to estimate the existing market size, market trends, market value, statistics and future opportunity for insulin delivery devices market during the forecast period. Based on multiple parameters, such as the number of commercialized devices, number of devices under development, price of the device and the annual adoption rate, we have provided an informed estimate on the likely evolution of the market over the forecast period 2020-2030. The market report also features sales forecasts for the overall diabetes drug delivery devices market with a detailed market segmentation on the [A] type of device (pen-injectors, insulin pumps, conventional syringes and others), [B] route of administration (subcutaneous, intravenous and others), [C] diabetes type (type 1 diabetes and type 2 diabetes), [D] device usability (disposable and reusable) and [E] key geographies (North America, Europe, Asia Pacific and rest of the world). In order to account for future uncertainties and to add robustness to our model, we have provided three market forecast scenarios namely the conservative, base and optimistic scenarios, which represent different tracks of the industry’s evolution.
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