The study focused on estimating the current market size of the insulin delivery devices sector. Comprehensive secondary research was conducted to gather information about the industry. The next step involved validating these findings, assumptions, and estimates by consulting industry experts throughout the value chain through primary research. Various methods were used to calculate the total market size, including top-down and bottom-up approaches. Subsequently, market segmentation and data triangulation procedures were employed to determine the size of the segments and subsegments within the insulin delivery devices market.
Secondary Research
The secondary research process involves utilizing a range of secondary sources, including directories and databases such as Bloomberg Business, Factiva, and D&B Hoovers. It also encompasses white papers, annual reports, investor presentations, SEC filings from companies, and publications from various government sources. Notable organizations referenced include the National Institutes of Health (NIH), the US Food and Drug Administration (FDA), the US Census Bureau, the World Health Organization (WHO), the International Trade Administration (ITA), the Global Burden of Disease Study, and the Centers for Medicare and Medicaid Services (CMS).
These resources were used to gather information for the global insulin delivery devices market study. They provided crucial insights into key players within the market, as well as market classification and segmentation based on industry trends. Additionally, important developments related to market and technology perspectives were identified. A database of key industry leaders was also compiled using the information obtained through secondary research.
Primary Research
In the primary research process, interviews were conducted with various sources from both the supply and demand sides to gather qualitative and quantitative information for this report. The supply-side primary sources included industry experts, such as CEOs, vice presidents, marketing and sales directors, technology and innovation directors, and other key executives from important companies and organizations in the insulin delivery devices market. On the demand side, the primary sources included personnel from home care settings, hospitals, clinics, and other end users. This primary research was carried out to validate market segmentation, identify key players in the market, and gather insights on essential industry trends and dynamics.
A breakdown of the primary respondents is provided below:
Note 1: C-level executives include CEOs, CFOs, COOs, and VPs.
Note 2: Others include sales managers, marketing managers, business development managers, product managers, distributors, and suppliers.
Note 3: Companies are classified into tiers based on their total revenue. As of 2024, Tier 1 = >USD 10 billion, Tier 2 = USD 1 billion to USD 10 billion, and Tier 3 = < USD 1 billion.
Source: MarketsandMarkets Analysis
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Annual revenues were calculated based on the revenue mapping of major product manufacturers and OEMs (original equipment manufacturers) operating in the global insulin delivery devices market to determine the global market value. All significant product manufacturers were identified at both the global and country/regional levels. Revenue mapping for these key players was conducted for the relevant business segments and subsegments. Additionally, the global insulin delivery devices market was divided into various segments and subsegments based on specific criteria:
-
List of major players operating in the products market at the regional and/or country level
-
Product mapping of various insulin delivery device manufacturers at the regional and/or country level
-
Mapping of annual revenues generated by listed major players from insulin delivery devices (or the nearest reported business unit/product category)
-
Extrapolation of the revenue mapping of the listed major players to derive the global market value of the respective segments/subsegments
-
Summation of the market value of all segments/subsegments to arrive at the global insulin delivery devices market
The above-mentioned data was consolidated and added with detailed inputs and analysis from MarketsandMarkets and presented in this report.
Market Size Estimation (Bottom-up Approach & Top-down Approach)
Data Triangulation
After arriving at the overall size of the global insulin delivery devices market through the above-mentioned methodology, this market was split into several segments and subsegments. Where applicable, the data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact market value data for the key segments and subsegments. The extrapolated market data was triangulated by studying various macroindicators and regional trends from both demand- and supply-side participants.
Market Definition
Insulin delivery devices are medical devices designed to administer insulin, a hormone used in the management of diabetes, into the body. These devices are primarily used by individuals with diabetes who require insulin therapy to regulate their blood sugar levels. Insulin pens, pumps, pen needles, and syringes are the most widely used delivery devices.
Stakeholders
-
Manufacturing companies of insulin pen needles, insulin pens, insulin pumps, insulin syringes, injectable insulin delivery devices, and diabetes supplies
-
Suppliers and distributors of insulin pen needles, insulin pens, insulin pumps, insulin syringes, injectable insulin delivery devices, and diabetes supplies
-
Pharmaceutical and biopharmaceutical companies
-
Healthcare service providers
-
Teaching hospitals and academic medical centers
-
Health insurance players
-
Government bodies/municipal corporations
-
Regulatory bodies
-
Medical research institutes
-
Business research and consulting service providers
-
Venture capitalists
-
Market research and consulting firms
Report Objectives
-
To describe, analyze, and forecast the global insulin delivery devices market on the basis of type, end user, and region
-
To describe and forecast the insulin delivery devices market for key regions: North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa
-
To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the insulin delivery devices market
-
To strategically analyze the ecosystem, regulations, patenting trend, value chain, Porter’s five forces, and prices pertaining to the market under study
-
To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
-
To analyze market opportunities for stakeholders and provide details of the competitive landscape for market players
-
To profile the key players and comprehensively analyze their market shares and core competencies in the insulin delivery devices market
-
To analyze competitive developments such as partnerships, collaborations, acquisitions, product launches, expansions, and R&D activities in the insulin delivery devices market
-
To benchmark players within the market using the proprietary Company Evaluation Matrix framework, which analyzes market players on various parameters within the broad categories of business and product strategy
CHINA: LARGEST MARKET SHARE IN ASIA PACIFIC IN 2024
ASIA PACIFIC: FASTEST-GROWING MARKET IN REGION
Growth opportunities and latent adjacency in Insulin Delivery Device Market