Growing Diabetes Prevalence Fueling Insulin Delivery Device Sales

The rising incidence of diabetes, on account of the growing prevalence of obesity, is pushing up the demand for insulin delivery devices. As per the World Health Organization (WHO), nearly 2.8 million deaths are recorded every year because of obesity and around 44% of the diabetes cases across the world are caused because of excess weight or obesity. Furthermore, the organization reported that the incidence of obesity increased nearly three-fold between 1975 and 2016.

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The therapy is used for managing both type 1 and type 2 diabetes. Besides, the surging geriatric population in several countries is also driving the worldwide demand for insulin delivery devices, as geriatric people are highly susceptible to diabetes. This is, in turn, fueling the growth of the global insulin delivery device market. According to the forecast of the market research company, P&S Intelligence, the market will advance at a CAGR of 6.6% between 2016 and 2022.

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This will be a result of various factors such as the existence of large pool of patients diagnosed with diabetes, surging population of ageing people, and the increasing public awareness about infusion therapies in the region. The mushrooming adoption of home infusion therapies for managing diabetes is one of the major trends currently being observed in the insulin delivery device market. These therapies involve the administration of medications intravenously, through a catheter or a needle.

Hence, the sales of insulin delivery devices are certain to shoot up in the upcoming years, primarily because of the rising incidence of diabetes, on account of the soaring prevalence of obesity, and the increasing geriatric population in several countries around the world.