According to the market analysis report titled ‘Global Insulin Delivery Devices Market Size study, by Type (Pens, Pumps, Pen Needles Syringes, Other Devices), by End User (Patients/Homecare, Hospitals & Clinics) and Regional Forecasts 2022-2028’, available with MarketStudyReport, global insulin delivery devices market accounted for USD 12.5 billion in 2021 and is expected to reach a valuation of USD 20 billion by the year 2028.

Favorable reimbursement scenario, rising government support in selected countries, technological advancements, growing diabetes population, and surging product awareness are some of the prominent factors driving the expansion of global insulin delivery devices market.

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For the uninitiated, insulin is a vital component of the treatment plan for all patients with Type 1 as well as Type 2 diabetes. It aids in the transport of glucose from the bloodstream into muscle and fat cells to use as fuel and is therefore injected into the adipose tissue beneath the skin.

Millions of diabetics worldwide still depend on insulin delivery systems for their health, and the prospective applications of these with precise dosage delivery will add traction to overall market growth.  However, it is anticipated that inadequate reimbursement structures in developing nations may restrain market expansion through 2028.

As per type, the market is divided into syringes, pen needles, pumps, pens, and other devices. With respect to the end-user spectrum, the insulin delivery devices industry is bifurcated into hospitals & clinics and patients or homecare.

Regionally, North America is expected to hold the largest share in global insulin delivery devices industry over the forecast period, attributable to the rising prevalence of diabetes, favorable reimbursement scenarios in the U.S. and Canada, increasing venture capital investments, and mounting FDA approvals for the commercial availability.

While Asia Pacific market is anticipated to grow at the considerable rate during the projection period, due to the increasing geriatric and diabetic population.

The leading companies influencing the global insulin delivery devices market dynamics are Biocon Limited, Insulet Corporation, Tandem Diabetes Care Inc., Animas Corporation, Ypsomed Holding AG, ELI Lilly and Company, Sanofi S.A., Medtronic plc, Novo Nordisk A/S, and Becton Dickinson and Company.