Insulin a glucose directing hormone, is an essential part of the treatment plan for many patients with advanced type 2 diabetes mellitus (T2DM) and patients with T1DM. Insulin facilitates the diversion of glucose get from the bloodstream to the muscle and adipose tissues to be stored and used as fuel. Insulin cannot be consumed in the form of a tablet or a swallowed in liquid form, as it would be degenerated by the time it reaches bloodstream, by the digestive enzymes and juices. Hence, injection or infusion of insulin is processed into the fatty tissue. Henceforth, a number of devices are in use to deliver insulin to the target location, which include syringes, insulin pumps, insulin pens and jet injectors. Subcutaneous injections is the most common used route of insulin administration. However, no single insulin delivery device works perfectly for everyone. The evaluation of use of a particular delivery device is based on factors like person’s insulin regimen, ability to afford a particular device and its refill supplies, ability to operate a particular device and daily schedule or leisure-time activities.
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COVID – 19 scenario analysis:
- The COVID-19 pandemic has emerged as a humanitarian as well as economic crisis, creating strain on the society and affecting millions of people and businesses
- Industry closures and people are asked to stay in their homes which has cause taken a huge toll in terms of money and economic growth
- Over 4 million people affected globally, with 300 thousand losing their lives due to novel coronavirus
- Healthcare organizations are already working in battle mode, preparing new plans to respond growing COVID-19 patients, right from sourcing rapid diagnosing kits to sufficient PPE kits for workers
- Recent studies have also highlighted the rising prevalence and infections of Novel coronavirus in diabetic population
Growing prevalence of diabetic conditions to drive the market growth
Surging number of diabetic populace due to aging, obesity, and sedentary lifestyles are the factors contributing to this market. Obesity is one of the major drivers of the market resulting into development of diabetes in populace. Over 1.9 billion people allover were categorized as overweight, with around 600 million people in them were obese. Obesity and overweight conditions are the risk factors, highly linked to the incidence of diabetes, which is rising by tremendous growth, thus risking massive rise cases diabetes, according to stats by WHO. According to the International Diabetes Federation, diabetic population worldwide, is anticipated to hit the 500 million mark by 2030. The rise in diabetic conditions would surge the demand for insulin delivery devices thus fueling the growth of this insulin delivery devices market.
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Key benefits of the report:
- This study presents the analytical depiction of the global insulin delivery devices industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global insulin delivery devices market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global insulin delivery devices market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the insulin delivery devices market.
- The report provides a detailed global market analysis based on competitive intensity and how the competition will take shape in coming years.
Key segments covered:
Product
- Integrated
- Standalone
Presence
- On-premises
- On-cloud
- Web-based services
Application
- Collection and storing of clinical data
- Medical coding and billing
- Claims and denial management
- Others
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