U.S. Glucagon Delivery Devices Market Size, Share & Trends Analysis Report By Device Type (Injectable, Intranasal), By Distribution Channel (Retail Pharmacies, Online Pharmacies), By End-use, And Segment Forecasts, 2024 - 2030
U.S. Glucagon Delivery Devices Market Size, Share & Trends Analysis Report By Device Type (Injectable, Intranasal), By Distribution Channel (Retail Pharmacies, Online Pharmacies), By End-use, And Segment Forecasts, 2024 - 2030
U.S. Glucagon Delivery Devices Market Growth & Trends
The U.S. glucagon delivery devices market is anticipated to reach USD 781.07 million by 2030, according to a new report by Grand View Research, Inc. It is projected to grow at a CAGR of 8.33% during the forecast period. The major factors contributing to market growth include the increasing prevalence of diabetes in the U.S., leading to a higher demand for emergency treatments for severe hypoglycemia, a condition where glucagon is essential. According to the International Diabetes Federation in 2021, there were about 32.21 million diabetes patients in the country, which are further expected to reach 34.75 million by 2030. Furthermore, advances in technology, particularly in the development of user-friendly delivery devices such as auto-injectors and nasal sprays, are making glucagon more accessible to patients and caregivers, thus boosting market adoption.
The growing awareness about the importance of immediate intervention in hypoglycemia emergencies has led to a greater demand for these devices, as individuals are more inclined to be proactive about emergency preparedness. Healthcare providers are also playing a crucial role by educating patients about the use of glucagon and incorporating these devices into standard diabetes management plans. The increased emphasis on preventing hypoglycemia-related complications has driven more widespread adoption of glucagon delivery devices, contributing to the market growth.
The presence of major market participants and their various strategic initiatives play a significant role in driving the overall growth of the glucagon delivery devices market. Key players in the industry are continuously engaged in activities such as obtaining product approvals, launching new products, forming strategic partnerships, and pursuing mergers and acquisitions. These actions help them stay competitive and address the evolving needs of the market. For instance, in May 2024, Xeris and Beta Bionics announced a global partnership to develop a glucagon product designed for use with proprietary pump technology. This collaboration and licensing agreement focuses on the development and commercialization of a glucagon product that leverages Xeris' XeriSol technology. Both companies plan to integrate this product with Beta Bionics' proprietary bi-hormonal pump and pump systems.
U.S. Glucagon Delivery Devices Market Report Highlights
In 2023, the injectable devices segment dominated the treatment segment by capturing a share of more than 47.6%.
The intranasal devices segment is anticipated to grow at the fastest CAGR during the forecast period.
The retail pharmacies segment held the largest market share in 2023 by capturing a share of about 51.7%.
The online pharmacies segment is expected to grow at the fastest CAGR from 2024 to 2030.
Among end use, hospitals and clinics held a majority share of the market in 2023.
The North America region dominated the global market in 2023.
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Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Segment Definitions
1.2.1. Device Type
1.2.2. Distribution Channel
1.2.3. End Use
1.2.4. Regional scope
1.2.5. Estimates and forecasts timeline
1.3. Research Methodology
1.4. Information Procurement
1.4.1. Purchased database
1.4.2. GVR’s internal database
1.4.3. Secondary sources
1.4.4. Primary research
1.4.5. Details of primary research
1.4.5.1. Data for primary interviews in North America
1.4.5.2. Data for primary interviews in Europe
1.4.5.3. Data for primary interviews in Asia Pacific
1.4.5.4. Data for primary interviews in Latin America