Europe insulin delivery devices market is expected to reach USD 3.48 billion by 2020 from USD 2.55 billion in 2015, growing at a CAGR of 6.40% during the forecast period 2015-2020. Insulin maintains sugar levels in the blood and essential for the people suffering from type I diabetes & type II diabetes. The development of insulin delivery devices has been encouraged from the past years. These devices are used to deliver the insulin doses via parenteral route rather than oral route of administration. Insulin delivery devices promote absorption rate of insulin into blood stream from the site of injection to execute immediate pharmacological action of insulin. Some of the majorly used insulin delivery devices such as insulin syringes, insulin pens, insulin pen needles, insulin pumps, and insulin jet injectors.
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Presence of favorable medical reimbursements for human insulin pens across Europe, increasing funding for the research, increasing adoption of organic growth strategies by market players and growing diabetic patient awareness towards the benefits of insulin delivery devices in diabetes treatment are driving the growth of insulin delivery devices market Europe. However, requirement of extensive procedures for the approval of devices and limited accessibility of insulin delivery devices in certain areas of Europe are expected to restrain the growth of insulin delivery devices market in Europe.
Europe insulin delivery devices market is segmented based on the type and application. Based on type, the market is further sub-segmented as insulin syringes, insulin pens, insulin pen needles, insulin pumps, and insulin jet injectors. Of these, insulin syringes commanded the largest share of Europe insulin delivery devices market in 2015, whereas insulin pens segment is estimated to grow at the highest CAGR during the forecast period 2015-2020. Based on application, the market is segmented as type I diabetes and type II diabetes.
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On the basis of geographical areas, Europe insulin delivery devices market is segmented as U.K., Germany, France, Italy, and Spain.
The key players in insulin delivery devices market such as, Becton, Dickinson and Company (U.S.), Sanofi (France), Novo Nordisk A/S (Denmark), Julphar (U.A.E.), Eli Lilly and Company (U.S.), Biocon Ltd. (India), Ypsomed AG (Switzerland), Wockhardt Ltd. (India), B. Braun Meselgen AG (Switzerland), and Biodel Inc. (U.S.).
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