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 are used to 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 of the 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.

However, the low adoption of advanced diabetic technology products, the high cost of manufacturing products, and the lack of awareness of diabetic patients about the advanced diabetic treatment solutions are restraining the growth of the insulin delivery devices market in the Asia-Pacific region.

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 in 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. The insulin syringe market, on the other hand, 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 major 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. Changing lifestyle changes and a high level of disposable income among the population are major 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.).