Navigation Links
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 the global insulin delivery devices market with a share of about 20% in 2010, followed by Novo Nordisk and Sanofi with a share of 16% and 15% respectively.

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.

Increasing Incidence of Diabetes, Especially Increase in the Incidence of Childhood Insulin Dependent Diabetes, to Boost the Market Growth

Many studies suggest that the incidence of diabetes in children under the age of 18 years is increasing rapidly. According to a study conducted by EURODIAB and published in The Lancet in June 2009 prevalence of type 1 diabetes among children younger than 15 years of age in Europe is projected to increase from 94,000 in 2005 to 160,000 in 2020. The study also found the historical annual increase in the incidence of diabetes among children from 1989 to 2003. The overall annual increase in the incidence of type 1 diabetes among children was 3.9%. The highest increase in the incidence rate was found among children aged 0-4 years

Researchers have found a number of reasons for the increasing incidence of diabetes among children such as increasing obesity, irregular dietary habits and lower vitamin D intake among others. Being born to a diabetic mother also increases the risk of getting diabetes among children.

According to estimates from the International Diabetes Federation (IDF), 366 million people globally in 2011 suffered from diabetes. This is expected to rise to 552 million by 2030. The IDF also estimates that 183 million people globally or 50% of diabetics are undiagnosed. Globally, 4.6 million people died as a result of diabetes in 2011 and $465 billion was spent on diabetes healthcare expenditure. About 80% of people suffering from diabetes live in low or middle-income countries. The IDF estimates that 78,000 children globally develop diabetes every year, a figure which is increasing.

According to the IDF, 23.7 million people suffered from diabetes in the US in 2011. The IDF also estimates that about 180,000 people died as a result of diabetes in the US in 2011, which is the highest in the world. The IDF estimates that the prevalence of diabetes in India was 8.3% in 2011, affecting over 61 million people. About 5.7% of people were suspected to be suffering from pre-diabetes in 2010. At the current rate, the number of people suffering from diabetes in India will reach 101.2 million in 2030.

The IDF estimates that diabetes prevalence in China was 9.3% in 2011, translating to over 90 million people in the same year. It is estimated that 60.7% of people are undiagnosed and that about 6.8% of people in China were suspected to be suffering from pre-diabetes in 2010. At the current rate, the number of people suffering from diabetes in China is expected to rise to 129.7 million by 2030.

For further details on this report, visit: http://www.giiresearch.com/report/gd227854-insulin-delivery-devices-global-pipeline-analysis.html

Browse medical device market research reports: http://www.giiresearch.com/medical_device_report.shtml

About Global Information Inc. Global Information (GII) (http://www.giiresearch.com) is an information service company partnering with over 300 research companies around the world. Global Information has been in the business of distributing technical and market research for more than 25 years. Expanded from its original headquarters in Japan, Global Information now has offices in Korea, Taiwan, Singapore, Europe and the United States.

About GlobalData GlobalData is an industry analysis specialist company providing business information products and service. GlobalData's highly qualified team of Analysts, Researchers, and Solution consultants use proprietary data sources and various tools and techniques to gather, analyze and represent the latest and the most reliable information essential for businesses to sustain a competitive edge.

Media Contact: Jeremy Palaia of Global Information, Inc., 1-860-674-8796, Press@gii.co.jp

News distributed by PR Newswire iReach: https://ireach.prnewswire.com


'/>"/>
SOURCE Global Information, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. South and Central America Diabetes Care Devices Market Outlook to 2017- Glucose Monitoring and Insulin Delivery
2. Europe Diabetes Care Devices Market Outlook to 2017- Glucose Monitoring and Insulin Delivery
3. United States Diabetes Care Devices Market Outlook to 2017- Glucose Monitoring and Insulin Delivery
4. GiiResearch.com: Insulin Pumps - Availability of Reimbursement and Favorable Clinical Trial Data to Drive Market Growth
5. Big Blue Test 2011 Provides Life-Saving Insulin and Supplies to More Than 8,000 People in Need
6. Tandem Diabetes Care Announces FDA Clearance of the t:slim™ Insulin Delivery System
7. Insulin Patch Pumps
8. Halozyme Therapeutics Announces Positive Results From Enzyme-Augmented Insulin Pump Trial
9. Biodel Reports Top-Line Results From Pump Study of Experimental Insulins
10. Insulin Lispro - Comprehensive Patent Search
11. Insulin- Western Europe
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... 23, 2016 Capricor Therapeutics, ... a biotechnology company focused on the discovery, development ... patient enrollment in its ongoing randomized HOPE-Duchenne clinical ... 50% of its 24-patient target. Capricor expects the ... quarter of 2016, and to report top line ...
(Date:6/23/2016)... PARK RIDGE, Ill. and INDIANAPOLIS ... caliber of students receiving a Lilly Diabetes Tomorrow,s Leaders ... hands. The 2016 scholarship winners, announced today online at ... refused to let type 1 diabetes stand in the ... Lilly Diabetes has supported the Foundation,s scholarship program since ...
(Date:6/23/2016)... -- The vast majority of dialysis patients currently receive ... usually 3 times a week, with treatment times averaging ... equipment preparation and wait time.  This regimen can be ... who are elderly and frail.  Many elderly dialysis patients ... for some duration of time. Residents in ...
Breaking Medicine Technology:
(Date:6/25/2016)... , ... June 25, 2016 , ... As a lifelong ... Cum Laude and his M.D from the David Geffen School of Medicine at UCLA. ... to Los Angeles to complete his fellowship in hematology/oncology at the UCLA-Olive View-Cedars Sinai ...
(Date:6/25/2016)... ... June 25, 2016 , ... Conventional wisdom preaches the benefits ... terms of the latter, setting the bar too high can result in disappointment, perhaps ... slow progress toward their goal. , Research from PsychTests.com reveals that ...
(Date:6/24/2016)... ... 24, 2016 , ... June 19, 2016 is World Sickle Cell Observance Day. ... the benefits of holistic treatments, Serenity Recovery Center of Marne, Michigan, has ... , Sickle Cell Disease (SCD) is a disorder of the red blood cells, which ...
(Date:6/24/2016)... , ... June 24, 2016 , ... Global law firm ... 2016 Legal Elite. The attorneys chosen by their peers for this recognition are considered ... Seven Greenberg Traurig Shareholders received special honors as members of this year’s Legal Elite ...
(Date:6/24/2016)... , ... June 24, 2016 , ... Topical BioMedics, Inc, makers of Topricin and MyPainAway ... call for a minimum wage raise to $12 an hour by 2020 and then adjusting ... restore the lost value of the minimum wage, assure the wage floor does not erode ...
Breaking Medicine News(10 mins):