APAC Insulin Delivery Devices Market

APAC Insulin Delivery Devices Market Size (2022 to 2027)

The size of the Asia Pacific insulin delivery devices market is projected to grow to USD 4.6 billion by 2027 from USD 3 billion in 2022, witnessing a growth rate of 8.93% from 2022 to 2027.

Insulin maintains the sugar levels in the blood and is essential for people who have type I diabetes & type II diabetes. Therefore, the development of insulin-delivery devices has been encouraged in the past years. These devices deliver insulin doses via the parenteral route rather than the oral route of administration. Insulin delivery devices promote the absorption rate of insulin into the bloodstream from injection to execute immediate pharmacological action of insulin. Some majorly used insulin delivery devices include insulin syringes, insulin pens, insulin pen needles, insulin pumps, and insulin jet injectors.

The rising number of pre-diabetic & large diabetic patient population, growing distribution networks of foreign manufacturers in this region, presence of favorable regulatory frameworks, availability of significant medical reimbursements, and increasing expansions of advanced medical facilities in certain Asian countries (China & India) are driving the growth of insulin delivery devices market in Asia-Pacific region.

YOY growth in the number of people who have diabetes from the Asia-Pacific region is promoting the need for insulin delivery devices and resulting in market growth in this region. According to International Diabetes Federation (IDF), an estimated 90 million people aged between 20 to 79 have diabetes in the South East Asia region. This number is predicted to cross 113 million by 2030 and 152 million by 2045. Patients with type-1 and type-2 diabetes consume insulin to control hyperglycemia. The growing adoption of a sedentary lifestyle, growing incidence of obesity among people, increasing consumption of junk food, and consumption of sweet beverages promote the glucose levels in the blood and result in diabetes in people. In addition, the increasing number of people diagnosing with diabetes is promoting insulin usage and resulting in the increased usage of insulin delivery devices.

Adopting technological developments to manufacture advanced insulin delivery devices is anticipated to aid the market growth. In addition, YOY growth in the aging population suffering from diabetes and increasing awareness regarding insulin delivery devices further accelerate the market’s growth rate. Type 2 is the most common diabetes seen in older people. With increasing age, most people may suffer from an increase in glucose levels in the body, which results in the use of insulin devices. High glucose levels in the body may lead to different chronic diseases, such as heart-related problems, foot ulcers, and joint problems. As a result, due to increasing awareness of the use of insulin for managing glucose levels, people adopt insulin delivery devices such as insulin pens, insulin pumps, and insulin injections. Insulin pens are the most used insulin delivery device among the older population. The prefilled syringe is also the most popular insulin delivery device used by older people, reducing human error in taking a high insulin intake into the body.

However, the low adoption of advanced diabetic technology products, the high cost of manufacturing products, and the lack of awareness of diabetic patients about advanced diabetic treatment solutions are restraining the growth of the insulin delivery devices market in the Asia-Pacific region. Furthermore, high costs associated with insulin delivery devices and the need for more availability in medical stores in rural areas impede the market growth in the Asia Pacific region. In addition, the availability of alternative ways to take insulin also hampers the market growth.

This research report on the APAC insulin delivery devices market has been segmented and sub-segmented into the following categories:

By Type: 

• Insulin Syringes
• Insulin Pens
• Insulin Pen Needles
• Insulin Pumps
• Insulin Jet Injectors

By Application: 

• Type I Diabetes
• Type II Diabetes

By Country: 

• India
• China
• Japan
• South Korea
• Australia
• New Zealand
• Thailand
• Malaysia
• Vietnam
• Philippines
• Indonesia
• Singapore
• Rest of APAC

Geographically, the insulin delivery devices market in the APAC region is estimated to occupy a significant share of the global market during the forecast period. However, the Asia Pacific is expected to grow at the fastest rate of 9.10 percent during the projected period.  The market growth is projected to be driven by the growing geriatric population, the prevalence of diabetes, and improving healthcare infrastructure. 

The market is highly concentrated, with only a few players controlling a substantial portion of the market in the region. On the other hand, the insulin syringe market is highly fragmented, with several local companies. The Insulin delivery device market has been rising in developing countries such as China, Japan, and India, owing to the population's unsustainable diet. Furthermore, global vendors are expanding their operations in the Asia Pacific region and providing top-of-the-line items for diabetes treatment, which is a significant driver of growth.

The China insulin delivery devices market is estimated to grow at a promising CAGR from 2022 to 2027 due to the increasing GDP, a huge population base suffering from diabetes, and raising awareness among individuals.

Japan accounted for 28% of the total market share In the Asia-Pacific insulin delivery devices market in 2020. The growing geriatric population in Japan is pushing the demand for insulin delivery devices. In addition, changing lifestyle changes and a high disposable income among the population are significant causes of boosting insulin delivery device sales. Insulin was once thought to be a therapy option only for type-1 diabetics. On the other hand, Insulin has been used by many type-2 patients as a therapeutic option over the years.

On the other hand, the Indian insulin delivery device market is anticipated to account for a moderate share and contribute to the APAC regional market growth. Children make up a sizable portion of diabetes type 1 patients. The invention of an insulin jet injector, a painless insulin administration device, was born out of a need for an alternative to the conventional needle-based delivery technique, which is uncomfortable. The majority of insulins are produced in the form of cartridges, making them easily accessible. These devices offer all of the features of reusable pens and are more cost-effective in the long term because the cartridges are less expensive than disposable insulin pens.

KEY MARKET PLAYERS:

Companies playing a dominant role in the Asia Pacific Insulin Delivery Devices Market profiled in this report are 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.).