PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1555776
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1555776
Glucagon Delivery Devices Market size was valued at USD 2,150.42 million in 2023, expanding at a CAGR of 8.72% from 2024 to 2032.
The Glucagon Delivery Devices Market is experiencing significant growth due to the increasing prevalence of diabetes and the rising demand for efficient glucose management solutions. Glucagon delivery devices are used to administer glucagon, a hormone that raises blood glucose levels, in emergencies such as severe hypoglycemia. The market is bolstered by technological advancements, including the development of more user-friendly and precise delivery systems. For instance, a recent survey indicated that over 70% of endocrinologists prefer devices with automated features to ensure accurate dosing. However, the market faces challenges such as the high cost of advanced devices and the need for patient education on proper usage. Opportunities exist to expand personalized and connected glucagon delivery systems that integrate with digital health platforms. For example, the integration of smart technology into glucagon delivery devices is expected to enhance patient compliance and overall diabetes management.
Glucagon Delivery Devices Market- Market Dynamics
Rising Diabetes Prevalence Drives Demand for Glucagon Delivery Devices
The surge in diabetes prevalence is significantly boosting the demand for glucagon-delivery devices. According to the International Diabetes Federation, over 450 million people worldwide are living with diabetes, creating a substantial need for effective emergency treatments like glucagon. For instance, the American Diabetes Association reports that severe hypoglycemic episodes, which require glucagon administration, affect a significant portion of diabetic patients, particularly those with type 1 diabetes. In response, companies such as Eli Lilly are expanding their product lines and improving device technology to meet the growing demand. Additionally, health initiatives in the U.S. and Europe are emphasizing better diabetes management solutions, further accelerating the adoption of advanced glucagon delivery devices. These efforts highlight the critical role of glucagon devices in managing diabetes-related emergencies and ensuring better patient outcomes.
Glucagon Delivery Devices Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 8.72% over the forecast period (2024-2032)
Based on Type segmentation, Auto-Injectors were predicted to show maximum market share in the year 2023
Based on Distribution Channel segmentation, Retail Pharmacies were the leading type in 2023
Based on Application segmentation, Emergency Kits was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Glucagon Delivery Devices Market is segmented on the basis of Type, Distribution Channel, Application, End-User, and Region.
The market is divided into four categories based on Type: Prefilled Syringes, Auto-Injectors, Nasal Sprays, and Needle-Free Injectors. Auto-injectors hold the highest priority due to their ease of use and effectiveness in emergencies. Prefilled Syringes follow, valued for their convenience. Nasal Sprays are gaining traction, while Needle-Free Injectors are niche but growing.
The market is divided into three categories based on Distribution Channel: Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies. Retail Pharmacies lead due to their widespread accessibility and patient familiarity. Hospital Pharmacies follow, catering to in-hospital needs and emergency situations. Online Pharmacies are growing, offering convenience and a broad selection for home use.
Glucagon Delivery Devices Market- Geographical Insights
The Glucagon Delivery Devices Market shows varied regional dynamics, with North America leading due to high diabetes prevalence and advanced healthcare infrastructure. In the U.S., over 30 million people have diabetes, driving demand for effective glucagon delivery solutions. The American Diabetes Association's initiatives, such as the promotion of better management tools, further bolster market growth. Europe follows, with countries like Germany and the U.K. investing in advanced diabetes care technologies. Germany's recent funding for diabetes research and development highlights the region's commitment to improving glucagon delivery devices. The Asia-Pacific region, notably China and India, is emerging rapidly due to increasing diabetes rates and rising healthcare investments. For instance, China's national health initiatives are focusing on enhancing diabetes management infrastructure, which is expanding the market for glucagon delivery devices. These regional efforts reflect a growing global focus on improving diabetes care and emergency treatment options.
The Glucagon Delivery Devices Market is highly competitive, with major players such as Eli Lilly and Company, Novo Nordisk, and Sanofi at the forefront. Eli Lilly, for example, has been expanding its market presence through strategic collaborations; in 2022, the company partnered with Dexcom to integrate glucagon delivery with continuous glucose monitoring systems, enhancing the effectiveness of diabetes management. Novo Nordisk has also strengthened its position by acquiring the diabetes technology company, Glooko, in 2021, aiming to leverage Glooko's digital health solutions to complement its glucagon delivery devices. Sanofi, a key competitor, has been active in research and development, focusing on improving the ease of use and reliability of its glucagon auto-injectors. These strategic initiatives and collaborations reflect the players' commitment to advancing glucagon delivery technologies and meeting the growing demands of diabetes care.
In September 2019, Xeris Pharmaceuticals received FDA approval for G-Voke, the first ready-to-use, room-temperature stable liquid glucagon for severe hypoglycemia in diabetes patients aged 2 and above. G-Voke offers a simpler, faster alternative to traditional glucagon emergency kits.