Need a report that reflects how COVID-19 has impacted this market and its growth?
The North America Insulin Delivery Devices Market is expected to register a CAGR of more than 5% over the forecast period.
The COVID-19 pandemic has substantially impacted the North America Insulin Delivery Devices Market. Type-1 diabetes patients are impacted more during Covid-19. People with diabetes are having a weak immune system so, with COVID-19, the immune system gets weaker very fast. People with diabetes will have more chances to get into serious complications rather than normal people. The manufacturers of Insulin delivery devices have taken care during COVID-19 to deliver insulin delivery devices to diabetes patients with the help of local governments. Novo Nordisk stated on their website that “Since the start of COVID-19, our commitment to patients, our employees and the communities where we operate has remained unchanged, we continue to supply our medicines and devices to people living with diabetes and other serious chronic diseases, safeguard the health of our employees, and take actions to support doctors and nurses as they work to defeat COVID-19.” Doctors around the world suggested diabetes patients should check their diabetes levels more often to be careful and the intake of medicine has increased, which lead to an increase in the usage of insulin delivery devices.
In North America, till April 2022, the United States had the highest number of COVID cases with 82 million, the country also registered the highest death rate. According to the Diabetes Voice, close to 40,000 people who died were having diabetes. In the North American region diabetes patients were more concerned about stocking up the monitoring and managing devices due to this the market increased during these years.
Diabetes is associated with many health complications. Comparing the population with and without diabetes, those with diabetes have a 300% increased risk of being hospitalized and thus incur more healthcare expenses compared to non-diabetic people. Patients with Type 2 diabetes require many corrections throughout the day for maintaining nominal blood glucose levels, such as the administration of additional insulin or ingestion of additional carbohydrates. Furthermore, patients attempting to control their blood glucose levels tightly to prevent the long-term complications associated with fluctuations in blood glucose levels are at greater risk for overcorrection and the resultant hypoglycemia. Achieving nominal results can be very difficult without multiple daily injections of insulin or insulin pump therapy.
Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period.
Scope of the Report
The North America Insulin Delivery Devices Market is segmented into Type (Insulin Pumps, Insulin Syringes, Cartridges in Reusable Pens, Disposable Pens, Jet Injectors), and Geography. The report offers the value (in USD million) and volume (in Unit million) for the above segments.
|Insulin Delivery Devices (Value and Volume, 2016-2027)|
|Insulin Disposable Pens|
|Insulin Cartridges in Reusable Pens|
Key Market Trends
Rising diabetes prevalence
The diabetes population in the North American region is expected to rise by more than 1% during the forecast period.
The North American region had witnessed an alarming increase in the prevalence of diabetes, in recent years. In developed countries, such as the United States and Canada, the rate of diabetes is at an all-time high, mainly due to lifestyle changes. According to the Division of Metabolism and Endocrinology Products in the FDA’s Center for Drug Evaluation and Research, “Patients want effective treatment options for diabetes that are as minimally intrusive on their lives as possible, and the FDA welcomes the advancement of new therapeutic options that can make it easier for patients to control their condition”.
The COVID-19 pandemic emphasizes the need for good glycemic control in patients with diabetes, in large part because most observational studies have reported that poorly controlled diabetes is associated with a higher risk for hospitalization and death from the viral illness. The frequency of insulin administration varies from patient to patient. Type-1 diabetic patients need to check their blood glucose levels at regular intervals, monitor their blood glucose levels, and adjust the insulin dosing accordingly.
According to Diabetes Canada, new 2022 figures show the continued rising trend of diabetes rates in Canada with no signs of leveling or decreasing. Diabetes continues to affect more Canadians than ever before. The new diabetes figures show a steady, continued increase in diabetes in the country with 11.7 million Canadians living with diabetes or prediabetes. More than 5.7 million Canadians are living with diagnosed diabetes (type 1 or type 2 diabetes) and there are 11.7 million Canadians living with diabetes or prediabetes (which if left unmanaged, can develop into type 2 diabetes).
Diabetes reduces lifespan and people with the disease are likely to experience blindness, being hospitalized for amputations, kidney failure, heart attacks, strokes, and heart failure. Diabetes is also costing the healthcare system USD 30 billion per year to treat people with diabetes.
Therefore, owing to the rising diabetes prevalence the market studied is anticipated to witness growth over the analysis period.
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The United States held the highest market share in the North America Insulin Delivery Devices Market in 2021
United States held the highest market share of about 89% in the North American Insulin Delivery Devices Market in 2021 and is expected to register a CAGR of about 5.5% in the forecast period 2022-2027.
An estimated 1.4 million Americans are diagnosed with diabetes every year, according to the American Diabetes Association. Diabetes is one of the leading causes of death in Canada and other North American countries. The growing incidence, prevalence, and progressive nature of the disease have encouraged treatment options for diabetic patients. The ADA also helps with costs for insulin and diabetes medication. Medicare drug plans cover insulin not used in an insulin pump and cover other drugs necessary to treat diabetes. In addition to providing prescription drug coverage, Medicare Part D plans may cover supplies necessary to inject insulin, including syringes, needles, alcohol swabs and gauze.
In May 2021, the World Health Assembly agreed on a Resolution on strengthening the prevention and control of diabetes. It recommends action in areas including increasing access to insulin; promoting convergence and harmonization of regulatory requirements for insulin and other medicines and health products for the treatment of diabetes; and assessing the feasibility and potential value of establishing a web-based tool to share information relevant to the transparency of markets for diabetes medicines and health products.
The roll-out of many new products, increasing international research collaborations in technology advancement, and increasing awareness about diabetes among people are some of the market opportunities for the players in the market.
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The North American Insulin Delivery Devices market is consolidated in nature due to the presence of only a few major companies operating globally as well as regionally. The competitive landscape includes an analysis of a few international companies including Novo Nordisk, Sanofi, Eli Lily and Company, Medtronic, Insulet, Ypsomped, Becton Dickinson and Company, among others as well as local companies which hold the market shares and are well-known.
Becton and Dickenson
- In April 2022, CamDiab and Ypsomed announced the partnership to develop and commercialize an integrated automated insulin delivery (AID) system to help lessen the burden of diabetes management for people with diabetes. The new integrated AID system is designed to connect Abbott's FreeStyle Libre 3 sensor, the world's smallest and most accurate continuous glucose monitoring sensor, to CamDiab's CamAPS FX mobile app, which connects with Ypsomed's mylife YpsoPump creating a smart, automated process to deliver insulin based on real-time glucose data. The connected, smart wearable solution is designed to continuously monitor a person's glucose levels and automatically adjust and deliver the right amount of insulin at the right time, removing the guesswork of insulin dosing.
- In November 2021, Biocon and Viatris announced the launch of interchangeable biosimilars Semglee injection, a branded product, and Insulin Glargine injection, an unbranded product, to help control high blood sugar in adult and pediatric patients with type 1 diabetes and adults with type 2 diabetes. Both biosimilar products are available in a vial and prefilled pen presentations and are interchangeable for the reference brand, Lantus (insulin glargine), allowing for substitution at the pharmacy counter.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Insulin Delivery Devices (Value and Volume, 2016-2027)
5.1.1 Insulin Pumps
188.8.131.52 Insulin Pump Monitor
184.108.40.206 Insulin Pump Reservoir
220.127.116.11 Insulin Infusion Sets
5.1.2 Insulin Syringes
5.1.3 Insulin Disposable Pens
5.1.4 Insulin Cartridges in Reusable Pens
5.1.5 Jet Injectors
5.2.1 Canada (Value and Volume, 2016-2027)
18.104.22.168 By Devices (Insulin Pumps, Insulin Syringes, Insulin Cartridges, Disposable Pens, and Jet Injectors)
5.2.2 United States (Value and Volume, 2016-2027)
22.214.171.124 By Devices (Insulin Pumps, Insulin Syringes, Insulin Cartridges, Disposable Pens, and Jet Injectors)
5.2.3 Rest of North America (Value and Volume, 2016-2027)
126.96.36.199 By Devices (Insulin Pumps, Insulin Syringes, Insulin Cartridges, Disposable Pens, and Jet Injectors)
6. MARKET INDICATORS
6.1 Type 1 Diabetes Population (2016-2027)
6.2 Type 2 Diabetes Population (2016-2027)
7. COMPETITIVE LANDSCAPE
7.1 COMPANY PROFILES
7.1.1 Novo Nordisk AS
7.1.3 Eli Lilly and Company
7.1.4 Medtronic PLC
7.1.5 Insulet Corporation
7.1.7 Becton Dickinson and Company
7.2 COMPANY SHARE ANALYSIS
7.2.1 Novo Nordisk AS
7.2.3 Eli Lilly and Company
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Frequently Asked Questions
What is the study period of this market?
The North America Insulin Delivery Devices Market market is studied from 2016 - 2027.
What is the growth rate of North America Insulin Delivery Devices Market?
The North America Insulin Delivery Devices Market is growing at a CAGR of >5% over the next 5 years.
What is North America Insulin Delivery Devices Market size in 2016?
The North America Insulin Delivery Devices Market is valued at 12671 Million USD in 2016.
What is North America Insulin Delivery Devices Market size in 2027?
The North America Insulin Delivery Devices Market is valued at 16351 Million USD in 2027.
Who are the key players in North America Insulin Delivery Devices Market?
Novo Nordisk, Medtronic, Becton and Dickenson, Eli Lilly, Sanofi are the major companies operating in North America Insulin Delivery Devices Market.