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Insulin Delivery Devices - Increasing Prevalence of Diabetes to Drive the Market
Date:1/13/2012

HARTFORD, Conn., Jan. 13, 2012 /PRNewswire-iReach/ -- Global Information, Inc. (GII) is pleased to announce a new market research report, "Insulin Delivery Devices - Global Pipeline Analysis, Competitive Landscape and Market Forecasts to 2017" by GlobalData.

(Photo: http://photos.prnewswire.com/prnh/20120113/CG35865)

The Insulin Delivery Devices Market is Set to Grow at a CAGR of 6% to Reach $11 Billion by 2017

GlobalData estimated the global insulin delivery devices market at $7.4 billion in 2010. Driven by the significant increase in prevalence of diabetes; the availability of reimbursement for insulin delivery devices and positive clinical outcomes from studies, the market is forecast to grow at a Compound Annual Growth Rate (CAGR) of 6% to exceed $11 billion in 2017.

The US is the largest insulin delivery devices market. 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.

Top Three Players Account for Around 51% of the Global Insulin Delivery Devices Market

Medtronic is the leading player in
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SOURCE Global Information, Inc.
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