ROCKVILLE, MD — (Marketwire) — 01/16/12 — MarketResearch.com has announced the addition of the new report “Insulin Delivery Devices – Global Pipeline Analysis, Competitive Landscape and Market Forecasts to 2017,” to their collection of Medical Devices market reports. For more information, visit
The global insulin delivery devices market was valued at $7.4 billion in 2010 and is forecast to grow at a Compound Annual Growth Rate (CAGR) of 6% to exceed $11 billion in 2017. The market is expected to be driven by the significant increase in the prevalence of diabetes, particularly among children; the availability of reimbursement for insulin delivery devices; positive clinical outcomes from studies about the use of insulin pumps and their associated advantages for niche patient groups.
The US insulin delivery devices market was valued at $2.8 billion in 2010 and is expected to grow at a CAGR of 6% to reach $4.2 billion by 2017. The growth will be fuelled by a number of factors, such as the increase in the incidence of diabetes among all ages, higher market penetration of insulin pumps and the availability of reimbursement.
Insulin pumps are used more commonly in the US than in European countries. According to an article published in the Journal of Diabetes Science and Technology in May 2010, entitled “Evolution of Diabetes Insulin Delivery Devices,” insulin pumps are used more in the US for insulin delivery, whereas in Europe, insulin pens are more commonly used. According to Juvenile Diabetes Research Federation (JDRF) estimates, about 400,000 people in the US with type 1 diabetes use insulin pumps.
In 2010, Medtronic, Inc. was the leading player in the global insulin delivery devices market with a share of about 20%. The leadership of Medtronic can be attributed to its Research and Development (R&D) capabilities, extensive marketing channels and strong brand image in the insulin pumps market. Over the years, Medtronic has developed and introduced diabetes solutions for both healthcare professionals and patients, including the world-s first integrated insulin pump and Continuous Glucose Monitor (CGM) system. Medtronic Diabetes has invested over $100m in the past decade on R&D, allowing it to gain a competitive advantage and drive its product portfolio, ultimately enabling it to gain larger market share.
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