Increase in population suffering from diabetes due to the unhealthy lifestyle has caused the need for proper insulin drugs and delivery devices due to its resulting treatment of diabetes. Insulin is used for the treatment or control of rising sugar levels in the body caused by patients suffering from diabetes. Insulin drugs are either orally consumed or through delivery devices with the help of syringes, or needles. There is recent development in the market for inhaling of insulin through pumps, which is expected to drive the market growth due to the need for syringe free insulin delivery.
Global human insulin drugs and delivery devices market is set to rise from its initial estimated value of USD 33.78 billion in 2018 to an estimated value of USD 61.38 billion by 2026, registering a CAGR of 7.75% in the forecast period of 2019-2026.
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Few of the major competitors currently working in the human insulin drugs and delivery devices market are Novo Nordisk A/S, Eli Lilly and Company, Sanofi, B. Braun Melsungen AG, BD, Biocon, Albireo Pharma Inc., Julphar, WOCKHARDT, CeQur SA, Ypsomed, AstraZeneca, Boehringer Ingelheim International GmbH, Johnson & Johnson Services Inc., Novartis AG, Takeda Pharmaceutical Company Limited, Bayer AG, and Merck & Co. Inc.
- High cases and increasing amount of diabetic patients worldwide is expected to drive the market growth
- Advancements in the market and reimbursements procedures in developed regions is also expected to drive the market growth
- Stringent regulations and reforms for the approval of products is also expected to restrain the market growth
- High cost of manufacturing delivery devices is also expected to act as a restraint to the market growth
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Segmentation: Global Human Insulin Drugs and Delivery Devices Market
Global Human Insulin Drugs and Delivery Devices Market, By Product (HI Drugs, HI Delivery Devices)
Drugs (Insulin Analogs & Biosimilar, HI Biologics), Delivery Device (Syringes, Pens, Pen Needles)
Application (Type I Diabetes, Type II Diabetes)
Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Global human insulin drugs and delivery devices market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of human insulin drugs and delivery devices market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
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- Current and future of global human insulin drugs and delivery devices market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
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