Insulin Delivery Device Market Radical Growth, Key Drivers and Opportunities, Growth Analysis
Surging prevalence of diabetes and growing awareness among patients regarding the treatment options available are the key factors propelling the global insulin delivery devices market . In a recent report titled “Global Market Study on Insulin Delivery Devices: Asia to Witness Highest Growth by 2020”, Persistence Market Research states that the market for insulin delivery devices is anticipated to expand at a healthy CAGR of 7.0% from 2014 to 2020. If this holds true, the value of the global market will rise from US$9,391.1 mn in 2014 to US$14,093.3 mn by 2020. Even with the increasing number of factors fueling the insulin delivery devices market, high cost of insulin analog and complications and risks associated with the delivery of insulin are anticipated to impede the growth of the global market. However, trends such as development of home infusion therapy and artificial pancreas are gaining popularity, which is sure to boost the insulin delivery devices market in the coming yea