Global Diabetes Drug Delivery Devices Market is projected to be over USD 31 billion by 2030
- By NewsOnFloor Staff
- Apr 20, 2021
- 3362 views
The anticipated growth in global diabetic patient population is likely to result in a significant rise in demand for novel, safe and more patient friendly drug delivery solutions for diabetics who are required to medicate on a frequent basis
Roots Analysis has announced the addition of “Diabetes Drug Delivery Devices Market, 2020-2030” report to its list of offerings.
Stakeholders engaged in this domain are presently focusing on introducing advanced features, such as integrated continuous glucose monitoring (CGM) systems, artificial intelligence (AI) enabled algorithms, provisions for audiovisual / tactile feedback, and automatic drug reconstitution features. Such efforts are primarily directed towards differentiating proprietary offerings within a highlight competitive market landscape, and are expected to drive the market’s growth over the coming years.
Key Market Insights
More than 80 diabetes drug delivery devices are presently available / under development
More than 65% of the aforementioned devices are marketed, while the rest are being evaluated in preclinical / clinical studies. It is also worth highlighting that majority of the drug delivery devices intended for diabetics are insulin pumps (35%), followed by pen injectors / autoinjectors (32%).
Over 50 companies, across the world, claim to be engaged in developing drug delivery devices for diabetics
Majority (44%) of the device developers are located in North America, primarily in the US. Within Europe, most of the developers are distributed across France, Germany, Switzerland, Italy and UK. Further, around 37% of the players engaged in this domain are large firms.
The market is dominated by the products of big pharma players
The leading pharmaceutical companies (in terms of number of products and revenues shares) involved in this domain are large / very large businesses. It is worth mentioning that the aforementioned players are investing significantly in terms of number of marketed and clinical-stage drugs, partnerships and strategic investments in this domain.
Partnership activity in this domain has grown at a CAGR of 33%, between 2015 and 2019
Maximum number of partnerships were reported in 2018. Majority of the agreements captured in the report, were observed to be related to technology integration deals (over 35%), followed by product development (16%).
North America and Europe are anticipated to capture over 60% of the overall market share by 2030
The current market is driven by the sales of diabetes drug delivery devices designed for subcutaneous administration (over 70%), followed by those that facilitate intravenous administration (26%). Further, pen injectors / autoinjectors currently capture 52% of the overall market share (in terms of sales revenues).
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Key Questions Answered
Who are the leading players engaged in the development of diabetes drug delivery devices?
What are the popular devices types that are available / under development for the delivery of diabetes medicine?
What kind of novel / advanced features are device developers incorporating into their proprietary offerings in order to maintain a competitive edge in the market?
What kind of partnership models are commonly being adopted by stakeholders in this industry?
What is the role of big pharma companies in this market?
What are the factors that are likely to influence the evolution of this market?
How is the current and future market opportunity likely to be distributed across key market segments?
The USD 31 million (by 2030) financial opportunity within the diabetes drug delivery devices market has been analyzed across the following segments:
Type of Device
- Insulin Pumps
- Conventional Syringes
Route of Administration
Type of Diabetes
- Type 1
- Type 2
Usability of the Device
- North America
- Asia Pacific
- Rest of the World
The research covers detailed profiles of key players (listed below); each profile features an overview of the company, financial information (if available), details related to its technology portfolio, product portfolio, recent developments, and an informed future outlook.
- Bigfoot Biomedical
- Novo Nordisk
Get Customized Report: Global Diabetes Drug Delivery Devices Market Size 2030
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Source : NewsOnFloor