Noida, India (PressExposure) September 02, 2009 -- According to our new analytical study âInsulin Delivery Systems Market Analysis (2008-2012)â, the insulin pen market in the US is forecasted to grow at a CAGR of around 10.4% during 2010-2012. Currently, the market is characterized by emergence of new technologies which are accurate and less painful. Our research anticipates that this growth will be fuelled by low costs of these devices as compared to other ones.
Insulin syringes, traditionally dominating the US insulin delivery device market, still account for a very high market share. Most of the patients in the US visit family doctors rather than endocrinologist, and family doctors recommend them the traditional methods of insulin delivery, such as syringes. But now this trend is changing and people are preferring new devices over the traditional ones, as these are more cost-effective and less painful. However, it is the insulin pumps which are the biggest threat to the insulin pen market in the US as the market share of these pumps has increased substantially in the last five years.
As compared to the US, insulin pens are used more in Europe and Japan. It is observed that 17% of insulin units are delivered in the US through insulin pens, while this share is 95% and 88% in Japan and Europe respectively. The overall market for pen devices in the US is small as compared to that of syringes and pumps, but has a huge potential and has been steadily growing. In terms of type of pen used, disposable insulin pens dominate the market over refillable insulin pens.
Our study analyzes the key segments of industry to present the future scenario of the industry. According to our industry experts, companies should develop low cost delivery methods in order to grow in developing markets. It also provides detailed analysis of the factors which are fuelling the growth of insulin device market. Besides this, report also provides rational analysis and forecast on various segments and sectors of the industry.
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