Increasing Diabetes Cases Driving Insulin Delivery Device Market


Posted September 1, 2021 by PSMarketResearch12

According to P&S intelligence, the market stood at $9.9 billion in 2015 and it is projected to reach $15.5 billion by 2022.
 
Factors such as the surging elderly population, soaring obese population, increasing cases of diabetes, and rising incidence of chronic diseases are expected to drive the insulin delivery device market at a CAGR of 6.6% during the forecast period (2016–2022). According to P&S intelligence, the market stood at $9.9 billion in 2015 and it is projected to reach $15.5 billion by 2022. Moreover, the escalating awareness regarding insulin delivery devices for diabetes management and burgeoning technological advancements will also support the market growth in the foreseeable future.

Access Report Summary on Insulin Delivery Device Market Segmentation Analysis: https://www.psmarketresearch.com/market-analysis/insulin-delivery-devices

Currently, the insulin delivery device market is observing a trend of surging adoption of home infusion therapy to manage diabetes. The infusion therapy involves the intravenous administration of medication through a catheter or a needle. This therapy is usually performed on patients when their bodies do not respond well to oral medication. At-home infusion therapy is generally preferred by the aging populace, as it is not viable for them to visit clinics or hospitals regularly. Over the years, insulin delivery devices have evolved as an effective and safe solution to be used in homecare settings for diabetes management.

Moreover, the spurring obese population is also facilitating the insulin delivery device market growth, globally. Obese people are highly susceptible to type 2 diabetes, cardiovascular diseases (CVDs), and hypertension. According to the World Health Organization (WHO), nearly 2.8 million people die due to obesity or overweight every year. The international body also stated that around 44% of diabetes cases occur each year, due to overweight or obesity. The rising prevalence of diabetes among obese people fuels the demand for insulin infusion devices, worldwide.

Thus, the growing prevalence of diabetes and the mounting number of obese people will propel market growth in the foreseeable future.
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Categories Reports , Research , Science
Tags insulin delivery device market , insulin delivery device market share , insulin delivery device market size , insulin delivery device market trends
Last Updated September 1, 2021