Insulin Delivery Devices Market - Insights
Insulin is vital for people suffering from type 1 diabetes and type 2 diabetes. In the past, patients with diabetes had to inject insulin using large glass syringes and reusable needles, both of which needed sterilization by boiling after each use. Improvements and innovations has led to development of insulin delivery devices such as pens and insulin pumps. Furthermore, insulin analogs have become available that enable both continuous subcutaneous insulin infusion(CSII) using an insulin pump and insulin therapy using multiple daily injections (MDI) to more closely match physiologic insulin patterns. Type or dosage of insulin can be changed, to meet the individual needs of the patient. Insulin can be packaged in vials (bottles), cartridges or prefilled pens. The cartridges are used with pen injectors whereas the vials are used with syringes.
The global insulin delivery devices market was valued at US$ 11,326.9 million in 2017 and is expected to witness a CAGR of 11.3% over the forecast period (2017–2025).
Figure 1. Global Insulin Delivery Devices Market Share, By Product Type (%)
Increasing prevalence of diabetes is expected to drive growth of the insulin delivery devices market over the forecast period
Increasing prevalence and incidence of diabetes is a major factor driving the insulin delivery devices market growth. According to the Centers for Disease Control and Prevention (CDC), 2014, about 29.1 million people in the U.S. have diabetes with a healthcare burden of around US$ 245 Bn and with an estimated 4.6–9.2% of pregnant women affected by gestational diabetes. Moreover, the Australian government launched National Diabetes Strategy (2016–20), for an action to prevent diabetes and support the people living with diabetes. Thus, rise in government initiatives to support diabetic patients is expected to favor growth of the insulin delivery devices market.
Development of systems and devices for improved drug delivery is expected to be factor for growth of the market. When compared with vial and syringe regimens, insulin pens offer a greater clinical efficacy, improved quality of life, and increased dosing accuracy, particularly at low doses. Thus, introduction of insulin pen devices has aided patients with diabetes mellitus in easier and more convenient treatment regimens. For instance, in January 2014, Novo Nordisk launched the NovoPen Echo in the U.S. market. This is the first and only pen device available in the U.S. with half-unit dosing and a memory function that can record the dose and time passed since the last injection.
Advancements in technology in devices is a factor fueling growth of the insulin delivery devices market
Increasing awareness and growing demand for insulin delivery devices for diabetes control are factors contributing towards the market growth. North America, followed by Europe are the largest markets for insulin delivery devices. Increasing prevalence of lifestyle associated diseases, implementation of awareness programs regarding diabetes, and higher adoption rate of advanced medical devices contributes towards the growth of the market in North America. For instance, in 2010, according to Journal of Diabetes Science and Technology, insulin pumps were more widely used on the American side of the Atlantic than on the European side. As a result, insulin pumps is expected to gain demand quickly during the second half of the forecast period. Furthermore, In 2016, the UAE Ministry of Health and Prevention in partnership with the Emirates Diabetes Society and Ministry with AstraZeneca Gulf, has launched Circle of Care, an education and support Programme aimed to improve the well-being of people in the UAE living with or at risk of developing type 2 diabetes thus expected to boost the growth over the forecast period.
Key players in the market are focusing on developing next generation devices to remain competitive, while seeking ways to enhance their design capabilities. For instance, in October 2017, Eli Lilly and Company announced its plans to invest US$ 72 million in an insulin manufacturing project at one of its Indianapolis facilities. The investment will be used to replace an existing insulin vial filling line and allow Lilly to meet growing demand for its insulins - including Humalog (insulin lispro) and Humulin (human insulin) - while upgrading to state-of-the-art technology and preparing for its insulin pipeline.
Direct subcutaneous insulin injection are the most common form of drug delivery, using a needle and syringe. There are different types of insulin delivery devices available including, syringes, pens, jet injectors, and insulin pumps. Insulin can be packaged in vials (bottles), cartridges or prefilled pens. However, several disposable and reusable pen devices have been developed that provide options for delivering rapid insulins and insulin premixes. Type or dosage of insulin can be changed according to the requirements to meet the individual needs of the patient Manufacturers are focusing on designing products, which are cost effective for people with diabetes which is expected to propel the growth of the insulin delivery devices market. For instance, in July 2017, Becton, Dickinson and Company launched BD Viva pen needles, have a highly engineered needle tip design for improved comfort and considered as the most cost-effective option for insulin-injecting people with diabetes in the UK.
The market is gaining significant traction due to increasing prevalence of diabetes, and new innovations in terms of design. According to the World Health Organization, in 2016, an estimated 422 million adults are living with diabetes globally. The major spike in incidence of type 2 diabetes over the last decade is mainly attributed to rising prevalence of obesity. However, high cost of some insulin delivery devices is expected to be a restraining factor for the market growth. For instance, insulin analogs supplied in cartridges or prefilled pens have a higher per unit of insulin cost than insulin analogs supplied in vials. For example, one vial (1000 U) of insulin costs US$ 105.95, which equates to a cost of 10.6 cents per unit of insulin. Five prefilled insulin pens containing insulin glulisine (total of 1500 U) have a total cost of US$ 201.01, equating to a cost of 13.4 cents per unit of insulin (26% over the cost of insulin glulisine supplied in a vial).
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