Insulin is essentially an essential component of every patient’s treatment regimen for both Type 1 and Type 2 diabetes. Insulin pens, syringes, insulin pumps, and jet injectors are used to inject the insulin delivery device directly into the fatty tissues beneath the skin. Newer insulin delivery devices have been developed in response to the growing demand for minimally invasive delivery systems, particularly in underserved geographic areas of the world.
According to SPER market research, ‘Europe Insulin Delivery Devices Market Size – By Type, By Application, By Distribution Channel, By End Use – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Europe Insulin Delivery Devices Market is predicted to reach USD 3.54 billion by 2033 with CAGR of 3.19%.
An increase in the number of people with diabetes, an increase in diabetes-related spending, cooperation between the public and private sectors to address the needs of people with diabetes, as well as advantageous insurance and reimbursement policies for medical devices, are the main factors propelling the market for insulin delivery devices. Moreover, the introduction of conferences, meetings, and congresses to raise awareness of insulin delivery devices, as well as various advantageous reimbursement environments and government backing in some countries, all contribute to the market’s overall growth. It is anticipated that the industry will see lucrative opportunities as a result of the sharp rise in R&D activity and healthcare spending.
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A few important obstacles to the market for insulin delivery devices are, however, limited use of insulin pumps, limited access to healthcare, and the availability of high-cost management in Europe. Patients may suffer side effects from an irregular insulin dosage. Additionally, kids less than 18 are not allowed to use the devices. The number of insulin delivery systems that use short-acting insulin is a significant obstacle for the industry. The main things that are thought to be impeding the market’s growth are the inadequate reimbursement system and the many problems associated with reusing infusion sets and pen needles. The market’s growth pace is further hampered by the high costs of insulin delivery devices, the general lack of knowledge about these devices’ advantages, and the availability of substitutes.
Impact of COVID-19 on Europe Insulin Delivery Devices Market
Significantly, the market for insulin delivery devices was affected by the COVID-19 epidemic. COVID-19 has an increased influence on persons with type 1 diabetes. Immune systems that are already compromised in diabetics become much more compromised when exposed to COVID-19. Compared to healthy individuals, diabetics may be more likely to experience major complications. Insulin delivery device manufacturers have taken steps, with the assistance of local governments, to ensure that diabetic patients receive insulin delivery devices during COVID-19. Globally speaking, doctors advise people with diabetes to be cautious and check their blood sugar levels more often. The use of insulin delivery devices has increased in tandem with an increase in medication consumption.
Europe Insulin Delivery Devices Market Key Players
Germany is the market leader for insulin delivery devices because of things like how commonplace many medications are and how many biotechnology businesses are there. During the projection period, France’s market for insulin delivery devices is anticipated to increase steadily. During the projected period, Italy is one of the European countries with the most potential for the insulin delivery devices market. With over 2 million type 2 diabetic patients, Italy is leading the way in the market’s expansion for insulin delivery devices. Additionally, some of the market key players are Medtronic, F Hoffmann-La Roche Ltd., Insulet Corporation, Tandem Diabetes Care Inc., Sanofi, Johnson & Johnson Private Limited ., Abbott, Terumo Corporation, AstraZeneca, B. Braun Melsungen AG, Julphar, Eli Lily and Company, Biocon, WOCKHARDT and various others.
Europe Insulin Delivery Devices Market Segmentation:
By Type: Based on the Type, Europe Insulin Delivery Devices Market is segmented as; Insulin Syringes, Insulin Jet Injectors, Pen Needles, Insulin Pumps.
By Application: Based on the Application, Europe Insulin Delivery Devices Market is segmented as; Type I Diabetes, Type II Diabetes.
By Distribution Channel: Based on the Distribution Channel, Europe Insulin Delivery Devices Market is segmented as; Hospital Pharmacy, Retail Pharmacy, Online Sales, Diabetes Clinics.
By End Use: Based on the End Use, Europe Insulin Delivery Devices Market is segmented as; Hospitals, Clinics, Homecare, Specialty Centres.
By Region: This research also includes data for Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia and Rest of Europe.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report
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