Canada Insulin Delivery Devices Market to Exceed US$1,406.6Mn at 3.0% CAGR by 2028 | Medtronic, Novo Nordisk, Eli Lilly, Sanofi.

Insulin is used to control blood sugar levels in people with type 1 and type 2 diabetes. The purpose of insulin use is to maintain normal blood sugar levels. The body can inject insulin in different ways. There are many options for delivering insulin to patients with diabetes, including syringes, pens, pumps, and jet injectors. Insulin allows the accumulation of glucose in the blood, which is later used as fuel in adipose and muscle cells. Timely and adequate control of insulin delivery continues to be important for people with type 1 diabetes to maintain a normal life. Therefore, the demand for insulin delivery devices is increasing worldwide.

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Market statistics

In the year By the end of 2022, the insulin delivery devices market in Canada is expected to be valued at USD 1,192.4 million.

Market drivers

The rising incidence of diabetes is likely to increase the demand for insulin delivery devices, fueling the market expansion in Canada during the forecast period. For example, in December 2020, Medtronic Canada ULC received approval from Health Canada for the MiniMed 770G insulin pump system, which includes smartphone connectivity for children under two years of age.

The solution enables more efficient telehealth visits and product training by securely sharing data with physicians, and allows users to upgrade to the latest technology by downloading software updates.

Market opportunities

The Canadian insulin delivery devices market is expected to offer high development prospects to businesses due to favorable compensation environment and government support. Because diabetes is a serious disease affecting Canadians of all ages, the Public Health Agency of Canada (PHAC) collaborates with all provinces and territories to conduct national surveillance to support disease plans. Review of related policies and programs.

Market restrictions

Some of the significant challenges expected to restrain market growth for insulin delivery devices in Canada include increasing patient preference for oral insulin, insufficient reimbursement in developing countries, and patient fear of injections.

Influence

People with diabetes are at a higher risk of contracting Covid-19 than the general population and should take extra precautions. Patients with diabetes have a lower immune system than the general population without any co-morbidities, so they are at greater risk of serious complications from COVID-19. People with diabetes and those who are not very healthy with Covid-19 infections are usually advised to take insulin. This is expected to lead to increased demand for insulin delivery systems.

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Key receivers

The insulin delivery devices market in Canada is estimated at US$ 1,142.4 million in 2021 and is expected to reach US$ 1,406.6 million from 2021 to 2028 at a CAGR of 3.0%.

Cartridges in reusable pens, the insulin delivery devices segment, will dominate the Canadian insulin delivery devices market by 2021, accounting for 58.5% of the market value. Increasing approvals and introduction of new products are estimated to moderate segment growth over the forecast period.

Market trends

Growing public awareness of insulin delivery devices is expected to support market expansion in Canada. Diabetes Canada is a provider of diabetes-related information, resources and services. For example, Diabetes Canada is urging Canadians to take action to end diabetes during Diabetes Awareness Month (November 2021) by promoting education to improve diabetes management.

The insulin delivery devices market in Canada is expected to expand at a rapid pace with a strong focus on diabetes treatment. For example, in January 2021, Roche Diabetes Care acquired Montmed Inc.

Competitive landscape

Becton Dickinson & Company, Medtronic, Tandem, Novo Nordisk, F. Hoffman-La Roche Ltd Here are some of the major companies competing in the Canadian insulin delivery devices industry.

Recent developments

• Nugene Medical Devices’ Insujet needle-free injection device and accessories have been given the green light by Health Canada in December 2021. Drug delivery is safe, painless and economical for the millions of diabetics who use the system.
• Roche Diabetes Care Canada and Montmed Inc. They’ve joined together to make SightSmart pen syringes available to Canadians with diabetes in January 2021.
• In August 2020, Medtronic announced the acquisition of Companion Medical, the maker of InPen, which has built-in diabetes management software.

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Table of contents

Chapter 1 Industry overview
1.1 Definition
1.2 Assumptions
1.3 Scope of research
1.4 Market analysis by region
1.5 Canada Insulin Delivery Devices Market Size Analysis 2022 to 2028
11.6 The Covid-19 Pandemic: Impact on the Canadian Insulin Delivery Devices Industry

Chapter 2 Global Canada Insulin Delivery Devices Competition by Type, Applications, and Top Regions and Countries
2.1 Global Canada Insulin Delivery Devices (Volume and Value) by Type
2.3 Global Canada Insulin Dispensers (Volume and Value) by Region

Chapter 3 Product market analysis
3.1 Analysis of the global product market
3.2 Regional product market analysis

Chapter 4 Global Canada Insulin Delivery Devices Sales, Consumption, Export, Import by Regions (2017-2022)

Chapter 5 Company profiles and key figures in the Canadian insulin delivery devices business
Chapter 6 Global Canada Insulin Delivery Devices Market Forecast (2022-2028)
Chapter 7 Conclusions
Research methods