Increasing prevalence of the blood sugar diseases is driving the growth of India Insulin Delivery Devices Market, FY2017-FY2027.
The case of diabetes is increasing due to unhealthy lifestyle, unhealthy food habits, and poor life choices like alcoholism and smoking that increases the chances of high blood sugar level along with various other generic related diseases like obesity, early aging, and loss of hair, blood thickening etc. Moreover, the surge in the demand of the technically advanced medical devices that have the advantage of monitoring the dosage along with the easy administration is driving the India insulin delivery devices market in the next five years until, FY2027.
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The India insulin delivery devices market is segmented by product type, distribution channel, and user, competitional landscape, and regional distribution. Based on distribution channel the market is further bifurcated into hospital pharmacies, retail pharmacies, online, and others. Hospital pharmacies are anticipated to hold the largest market shares on the account of high number of patients and their continuous visitation to the physicians and experts in the hospitals. Moreover, retail pharmacies, provide a cheaper option and branded as well as unbranded products and patients who cannot afford the high-end medical facilities prefer retail pharmacies over the hospital pharmacies, thus the significant growth in the market segment in the upcoming five years.
Based on end user, the market is further fragmented into hospitals & clinics, homecare, and others. Homecare is anticipated to hold the largest market share in the next five years. The market attributes can be termed with the increase in the demand of the home care setting for the diabetic patients. Diabetes is not a disease that would cause some immediate effect, though prolonged suffering due to diabetes causes various cardiovascular diseases, thickening of blood, and heart attack It becomes a condition that requires a continuous monitoring and administration of insulin to overcome its symptoms.
Medication and physical activities help, thus staying in the hospital for a long period of time is not required. Thus, the homecare segment is expected to grow. Experts and physicians may use glucose monitoring devices to monitor the patient’s blood sugar level making the regular consultation and emergency alarming situation a convenience for both the patient and the concerned physician.
Some of the top players in the India insulin delivery devices market are, Biocon Limited, India Medtronic Pvt. Ltd., Roche (Products) India Pvt. Ltd., Becton Dickinson Private Limited, Ypsomed India Private Ltd, Novo Nordisk India, Sanofi India Ltd. (Aventis Pharma), Eli Lilly & Co (India) Pvt. Ltd, Abbott India Ltd, B. Braun Medical (India) Pvt. Ltd., among others. The companies are involving themselves into research and development for more advanced medical devices. Insulin delivery devices are diagnostic imaging products and are in demand owing to the need of the healthcare industry. New players entering the market may form partnerships with other players or the end users of the industry for a consistent inflow of the product.
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“Insulin delivery devices are one of the most important therapeutic delivery devices that are specifically designed to administer dosages of insulin to the diabetic patient. Market players are constantly researching and developing the technologically advanced insulin delivery devices to provide more efficient, cost-effective devices that give feasible and monitoring advantages to the device. Government support and private financial aids toward the research and development is also one of the major drivers of the market. New players can focus on the investments and on the market launches of the technologically advanced products,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Insulin Delivery Devices Market By Product Type (Pens, Pumps, Pen Needles, Others) By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online, Others) By End User (Hospitals & Clinics, Homecare, Others) By Region, Competition Forecast & Opportunities, FY2027” has evaluated the future growth potential of India Insulin Delivery Devices market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in India Insulin Delivery Devices market.
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