Becton, Dickinson and Company Dominated the Global Insulin Delivery Devices Market in 2016
A number of key players are competing against each other to expand their existing customer base in the insulin delivery devices market. In 2015, the global insulin delivery devices market was dominated by Becton, Dickinson and Company (U.S.), Medtronic plc (Ireland), Novo Nordisk A/S (Denmark), Sanofi (France), and Eli Lilly and Company (U.S.).
In 2015, Novo Nordisk A/S accounted for a share of ~46% in the global insulin pens market. To maintain its leadership position, the company focuses on product launches as its key growth strategy. In the field of insulin delivery devices, the company offers insulin pens (NovoPen, NovoPen Echo, NovoTouch, FlexPen, InnoLet, and PenMate) and pen needles (NovoFine, NovoTwist, and NovoFine Autocover). The company has its distribution and production facilities in more than 75 countries and markets its products in more than 180 countries. Novo Nordisk has strategically placed its facilities across five continents with 16 production sites. With an aim to build a sustainable market position, the company offers a dedicated program named “Changing Diabetes” through which it supplies free insulin to more than 14,000 children. As of 2016, the company established 108 clinics and trained more than 7,000 health professionals.
In 2015, Becton, Dickinson and Company dominated the pen needles market with a market share of ~53%. To maintain its position, the company has adopted growth strategies such as product enhancements, geographical expansions, and product launches. In September 2014, BD launched its Autoshield Duo Pen Needle in the U.S. BD markets its products through independent distribution channels and directly to end users by independent sales representatives. The company sources raw materials from multiple vendors which ensure continuous supply and uninterrupted production and time delivery. The company has a strong focus on R&D activities. A majority of its R&D is conducted in the U.S. Moreover, BD also collaborates with universities, medical centers, and other entities to conduct R&D programs, and retains individual consultants to support its efforts in specialized fields.
In 2015, Medtronic plc accounted for a share of ~82% in the global insulin pumps market. The company adopted both organic as well as inorganic growth strategies to strengthen its position in the insulin delivery devices market. Medtronic sells its products through direct sales representatives in the U.S. and through a combination of distributors and direct sales representatives outside the U.S. The company has manufacturing facilities at its 89 sites and serves hospitals, physicians, clinicians, and patients in approximately 160 countries worldwide. The company also focuses on alliances and partnerships to enhance its market share.
Related Reports:
Insulin Delivery Devices Market by Type (Insulin Pens (Reusable, Disposable), Insulin Pumps (External/Tethered, Patch), Pen Needles (Standard, Safety), Insulin Syringes) and End User (Patients/Homecare, Hospitals & Clinics) - Global Forecast to 2021
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