Global 3D Mapping and 3D Modelling Market 2018 Review with Forecasts – Industry Trends, Size, Share, Key Players, Growth Rate, Gross margin
OrbisResearch.com has published a new market report on “Global 3D Mapping and 3D Modelling Market-Segmented by Type (3D Mapping, 3D Modelling), Application (Projection Mapping, Texture Rendering, Maps and Navigation), End-User, and Region-Growth, Trends, and Forecast (2018-2023)” to its research database.
Dallas, United States – June 4, 2018 /MarketersMedia/ —
An insulin delivery device is used to deliver insulin to the human body and, due to the high incidence of diabetes, its market is expanding. Insulin administration is essential for Type 1 and Type 2 diabetic patients. The global insulin delivery devices market is expected to register a CAGR of about 10.0% during 2018-2023 (the forecast period).
Growing Diabetic Population
According to a report by WHO, nearly 422 million adults, across the globe, were living with diabetes in 2014, which was around 108 million in 1980. The rise in affordability and out-of-pocket expenditure in the emerging markets is a significant factor affecting the market expansion. Some of the key regional hubs driving this growth include the United States, Mexico, Brazil, GCC countries, India, China, and other emerging countries. The global prevalence (age-standardized) of diabetes has nearly doubled since 1980, rising from 4.7% to 8.5% among the adult population. This reflects an increase in the associated risk factors, such as being overweight or obese. Over the past decade, diabetes prevalence has grown faster in the low-and middle-income countries than in the high-income ones. In 2012, diabetes was the major reason for nearly 1.5 million deaths. Moreover, higher-than-optimal blood glucose, which increases the risks of cardiovascular and other obesity-related diseases. Around 43% of these 3.7 million deaths occurred among people who were below 70 years of age. The percentage of deaths attributable to high blood glucose or diabetes that occurs prior to the age 70 is higher in low-and middle-income than in high-income countries. Therefore, the growing concerns and rising issues, related to diabetes, are the factors driving the market growth.
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Technological advancements and awareness regarding insulin delivery devices, along with government initiatives, are some other factors contributing to the market growth.
High Out-of-pocket Expenditure on Diabetes
Diabetes and its complications bring about a substantial economic loss to diabetics and their families, along with health systems and national economies through direct medical costs and loss of work and wages. While the major cost drivers are hospital and outpatient care, the rise in cost for analogue insulin is a contributing factor, which are increasingly prescribed despite little evidence that they provide significant advantages over cheaper human insulin. In low- and middle-income countries where reimbursement policies are ill-defined, diabetics have to bear various cost concerns while managing the disease from their own pocket. This puts an economic pressure on the patients as they often are unable to afford the total cost of diabetic management on their own. Also, the modalities, covered by insurance providers and healthcare reimburses, and the actual treatments, undertaken by the patients, face disparities. In most cases, the list of approved drugs and treatment modalities, covered in insurance/ eligible for reimbursement, are outdated and differ from the actual drugs consumed by the patients. This implies that in spite of healthcare reimbursement framework in place, high out-of-pocket expenditure occurs in diabetic management. This factor has discouraged many potential diabetics who require the glycemic profile management, as its cost is beyond their capabilities.
Additionally, the factors, such as increasing number of needlestick injuries and infections, alternative insulin delivery methods, and issues associated with the reuse of pen needles and infusion sets are restraining the global insulin delivery devices market growth.
The US to Occupy the Highest Share
The United States holds the largest share of the global insulin delivery devices market. This can be attributed to the rising prevalence of diabetes and favorable reimbursement scenario, raising awareness to stimulate the use of insulin delivery devices, growing venture capital investments, and issuance of IPOs and FDA approvals, in order to increase the commercial availability of insulin delivery devices.
Major Players: BECTON DICKINSON, INSULET CORP., MEDTRONIC, NOVO NORDISK, OWEN MUMFORD, and YPSOMED, among others.
Reasons to Purchase This Report
Market analysis for the global insulin delivery devices market, with region-specific assessments and competition analysis on the Global and regional scale.
Various perspectives of the industry with the help of Porter’s five forces analysis
The treatment type that is expected to dominate the market
Regions that are expected to witness the fastest growth rates during the forecast period
The latest developments, market shares and strategies employed by the major market players.
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Major points from Table of Contents:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Key Inferences
5. Market Overview
6. Drivers, Restraints, Opportunities and Challenges Analysis (DROC)
7. Market Segmentation
8. Competitive Landscape
9. Key Players
10. Future of the Market
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