According to our report, the size of the North American insulin delivery devices market is predicted to worth USD 18.48 billion by 2027, from USD 13.18 billion in 2022. The market is growing at a CAGR of 6.99% from 2022 to 2027.
The insulin delivery devices market is solely dependent on the growing population of people with diabetes. There has been an incredible rise in the prevalence of diabetes in hospitals in the North American area in recent years. Insulin in North America maintains blood sugar levels and is vital for people with type I diabetes & type II diabetes. Insulin delivery systems have been helped to evolve over the past few years. Such machines are used instead of the oral route of administration to administer insulin doses via the parenteral route.
Insulin delivery systems facilitate the level of insulin absorption from the injection site into the bloodstream to trigger insulin's rapid pharmacological effect among the most widely used insulin delivery devices like insulin syringes, insulin pens, pen needles for insulin, insulin pumps, and insulin jet injectors.
The growth of the demand for diabetes care devices in the region is mainly due to the increasing geriatric population and rapid developments in diabetes care devices.
However, high costs of diabetes treatment services and the risks associated with insulin delivery systems are likely to harm market growth. Strict regulatory laws and regulations for product authorization and minimal penetration of advanced insulin delivery systems in this area also restrict the growth of the North American market for insulin delivery devices. On the other hand, cost-effective pen needle design will have a positive influence on the expansion of the demand for diabetes care devices in North America in the years to come.
This research report on the North American Insulin Delivery Devices Market has been segmented and sub-segmented into the following categories:
Based on the region, The U.S. insulin delivery devices market accounted for a more significant share of the North American market in the last few years. On the other hand, Canada is expected to grow at a more considerable CAGR throughout the forecast period. As per the Centers for Disease Control and Prevention (CDC), last year, 30.3 million people in the U.S. were diagnosed with diabetes, including 23.1 million women, and 7.2 million patients left undiagnosed. Thus, high diabetes prevalence and significant diagnostic rates through easy accessibility of technologically sophisticated devices further fuel the market's regional growth.
Companies playing a dominant role in the North American Insulin Deliver 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.).
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