UNITED STATES INSULIN DRUGS AND DELIVERY DEVICES MARKET - GROWTH, TRENDS, COVID-19 IMPACT, AND FORECASTS (2022 - 2027)

UNITED STATES INSULIN DRUGS AND DELIVERY DEVICES MARKET - GROWTH, TRENDS, COVID-19 IMPACT, AND FORECASTS (2022 - 2027)

The United States Insulin Drugs and Delivery Devices Market is expected to register a CAGR of more than 2.5% over the forecast period.

Since the start of the epidemic, the United States has recorded 79 million cases of COVID-19. Over 960,000 people have died in the United States because of COVID-19. The average number of new COVID-19 cases per day has decreased to 40,000 according to CDC data. In January 2021, after the FDA had authorized COVID-19 vaccines for emergency use the month before, people in the U.S. began to be vaccinated. By March, the daily number of new infections had steeply declined, and April through June saw those numbers go down even further. But by July, the arrival and spread of the delta coronavirus variant sparked another surge in cases of COVID-19.

Diabetes is associated with many health complications. Comparing the population with and without diabetes, those with diabetes have a 300% increased risk of being hospitalized and, thus, incur more healthcare expenses compared to non-diabetic people. People with diabetes face a higher chance of experiencing serious complications from COVID-19. In general, people with diabetes are more likely to experience severe symptoms and complications when infected with a virus. According to the AACE (American Association of Clinical Endocrinologists), recent studies have shown that of those hospitalized for severe disease, 22.2-26.9% reported living with diabetes. Diabetes and high glucose levels are associated with increased complications, respiratory failure, and mortality in hospitalized patients with coronavirus.

The pandemic also highlighted opportunities for continuing and expanding innovations in the delivery of diabetes care, through virtual consultations between healthcare providers and people with diabetes, and the use of diabetes technology. Crisis management has created unprecedented interest in remote care from both patients and providers and removed many long-standing regulatory barriers. Thus, the COVID-19 outbreak increased the insulin market's growth.

Key Market TrendsGrowing Diabetes and Obesity Population in the United States

In the United States, the prevalence of diabetes has increased dramatically during the last two decades, a fact driven by the increased prevalence of obesity and lifestyle changes. Diabetes ranks among the fast-growing chronic diseases in the United States. About 1.75 million US citizens are diagnosed with diabetes every year. The country also has the highest obese population, which is a prominent cause of Type 2 diabetes.

In the United States, there are several innovations by startups, like Glooko, OneDrop, Verily, Vacate, Insulet, Noom, Bigfoot Biomedical, Virta Health, and Diabeloop, Orgenesis launched in the market. The market for diabetes care devices is expected to experience steady growth in the coming years, due to the greater prevalence of obesity, owing to less physical activity, unhealthy food habits, and other lifestyle factors. The growing awareness among people, regarding advanced diabetes devices, is improving the adaptability to insulin devices.

Leading manufacturers are focusing on technological innovations and developing advanced products to gain a substantial market share. There has been a significant rise in insulin delivery systems technology, ranging from insulin injections to insulin pumps. Technological innovations and advancements offer many conveniences in maintaining blood glucose levels.

Therefore, owing to the increasing diabetes prevalence the studied market is anticipated to witness growth over the analysis period.

Insulin Pumps Segment is Expected to Witness Highest Growth Rate Over the Forecast Period

An insulin pump is a device, which delivers insulin continuously or whenever required automatically. The pump mimics the human pancreas. The insulin infusion pump works as an alternative to the traditional system of daily injections or an insulin pen.

Insulin Pump held a major market share in the insulin delivery devices market in 2021 and is expected to grow with a CAGR of more than 6.5% in the market during the forecast period because of the increasing technological advancement and its preference over other traditional methods due to continuous insulin administration.Insulin pump therapy is a well-established insulin administration method for type 1 diabetes (T1DM) people. Pumps are a validated, time-tested therapeutic option in T1DM at all ages, enabling near-physiological insulin delivery in situations where the pancreas does not produce insulin. There are even pump models with remote controls enabling parents of young children to either suspend or bolus insulin from a distance when the child is playing or eating.​ The insulin infusion pumps reduce the large swings in blood glucose levels, induce less pain, and deliver more accurately when compared to injections. These advantages of insulin pumps over the traditional delivery system are expected to boost the market.

The use of continuous subcutaneous insulin infusion (CSII or insulin pumps) and continuous glucose monitoring systems (CGMs) has improved the care and quality of life for patients and is widely used in the ambulatory setting. Increasingly, this technology is also being used in the hospital setting. The COVID-19 pandemic emphasizes the need for good glycemic control in patients with diabetes, in large part because most observational studies have reported that poorly controlled diabetes is associated with a higher risk for hospitalization and death from a viral illness. The frequency of monitoring glucose levels depends on the type of diabetes, which varies from patient to patient. Type-1 diabetic patients need to check their blood glucose levels at regular intervals, monitor their blood glucose levels, and adjust the insulin dosing accordingly, which is likely to drive segment growth during the forecast period.

Competitive Landscape

The United States Insulin Drugs and Delivery Devices Market is consolidated, with few significant and generic players. Mergers and acquisitions that happened between the players in the recent past have helped the companies strengthen their market presence. Eli Lilly and Boehringer Ingelheim together have an alliance in developing and commercializing Basaglar (Insulin Glargine). Additionally, the players in the recent past helped the companies strengthen their market presence; for example, Novo Nordisk collaborated with Ypsomed to provide better insulin therapy solutions.

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