New York – Persistence Market Research has published a research document “Global Market Study on Insulin Delivery Devices: Asia to Witness Highest Growth by 2020”. According to the report, The insulin delivery devices market has been estimated to reach a market value of US$9,391.1 million in 2014. From 2014 to 2020, the market will grow at a CAGR of 7%, the market will be worth US$14,093.3 million in 2020.
The global insulin delivery devices market had already reached a net worth of US$7,300.0 million in 2010. It later grew to reach a value of US$8,793.2 million in 2013. The report says that North America currently dominates the global insulin delivery devices market. It is then followed by Europe in the second and Asia in the third place.
The global insulin delivery devices market has been on the rise due to the increasing number of patients that suffer from diabetes. One of the factors that have created this high prevalence of diabetes is the rise in obesity across developed nations. The global insulin delivery devices market includes all the instruments used in the delivery of insulin such as insulin pumps, pens, jet injectors, and syringes. They are used to maintain the level of insulin in the body.
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Another factor that promotes growth of the global insulin delivery devices market is the increasing awareness in taking care of diabetes patients within the convenient limits of the patient’s home. Factors that could hamper the growth of the global insulin delivery devices market are the various complications and risks that are involved in handling the insulin delivery devices.
Two of the most researched aspects of the insulin delivery devices market are home infusion therapy procedures and artificial pancreas.
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