For all patients with Type 1 and Type 2 diabetes, insulin is essentially an essential component of their treatment regimen. Using insulin pens, syringes, insulin pumps, and jet injectors, the insulin delivery device is directly administered into the fatty tissues underneath the skin. The increasing demand for less intrusive delivery methods has prompted the creation of more advanced insulin delivery devices, particularly in underserved areas of the globe.
Europe Insulin Delivery Devices Market Driving Factors and Challenges
The market for insulin delivery devices is expanding due to a number of important factors, including an increase in the number of people with diabetes, an increase in diabetes-related spending, collaboration between the public and private sectors to address the needs of people with diabetes, and favourable insurance and reimbursement policies. Furthermore, the market's overall growth is further aided by attractive reimbursement environments, government backing in certain countries, and the start of conferences, seminars, and congresses aimed at raising awareness of insulin delivery devices. The market is anticipated to see profitable potential as a result of the sharp increase in R&D activities and the rise in healthcare spending.
The market for insulin delivery systems is being seriously hampered, nevertheless, by low adoption of insulin pumps, limited access to healthcare, and the prevalence of expensive management in Europe. Abnormal insulin doses can sometimes cause harm to people. Children less than 18 are not allowed to use the devices. The industry has significant challenges due to the quantity of insulin delivery devices that utilize short-acting insulin. The primary difficulties impeded the expansion of the industry, according to estimates, are the inadequate reimbursement structure and the several problems associated with the reuse of pen needles and infusion sets. The availability of substitute products, the high cost of insulin delivery devices, and the general lack of public understanding of the advantages of these devices all slow down the market's rate of expansion.
Impact of COVID-19 on Europe Insulin Delivery Devices Market
The COVID-19 pandemic had a significant effect on the market for insulin delivery devices. COVID-19 has a greater effect on people with type 1 diabetes. Because the immune systems of diabetics are already compromised, they become much more compromised when exposed to COVID-19. Serious problems may be more likely to occur in diabetics than in healthy individuals. With the assistance of local governments, the producers of insulin delivery devices have taken steps during COVID-19 to ensure that insulin delivery devices reach diabetic patients. Worldwide medical professionals advise diabetics to be cautious and check their blood sugar levels more frequently. Insulin delivery systems have been used more frequently as a result of an increase in medication intake.
Europe Insulin Delivery Devices Market Key Players
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as major 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