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Insulin Pens and Growing Diabetic Community Increase Market for Insulin Delivery Devices in Europe, Says Frost & Sullivan

March 17, 2009

LONDON, March 17 /PRNewswire/ — While insulin syringes are the oldest delivery method available, they are currently experiencing a decline in use in Europe. Several factors have contributed to this trend, the most important being the high acceptance and popularity of insulin pens.

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New analysis from Frost & Sullivan (http://www.medicaldevices.frost.com), European Insulin Delivery Devices Market, finds that the market earned revenues of $1,112.8 million in 2007 and estimates this to reach $1,895.0 million in 2014.

If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the European insulin delivery devices market, then send an e-mail to Katja Feick, Corporate Communications, at katja.feick@frost.com, with your full name, company name, title, telephone number, company e-mail address, company website, city, state and country. Upon receipt of the above information, an overview will be sent to you by e-mail.

“The synergies created between pharmaceutical and medical device companies will be a key driver of the insulin pens market in Europe,” notes Frost & Sullivan Research Analyst Kieu Vuong. “Another significant factor spurring growth is that insulin pens are more compatible with the fast paced modern environment.”

The vast majority of insulin pens are given to patients free when they purchase insulin. This means that suppliers of insulin have a huge impact on the popularity and awareness of related devices. Insulin delivery device manufacturers need to work together with pharmaceutical companies to successfully distribute and promote their products.

The convenience of using insulin pens corresponds well to the needs of today’s insulin users. There is a pressing need for a device with high levels of flexibility that requires little commitment in terms of time and effort.

In order to deliver insulin to the subcutaneous tissue, a needle injection is the most straightforward method. Needle phobia is however a significant deterrent for patients.

“Needle phobia has always represented the biggest restraint to the growth of the insulin syringes market,” explains Vuong. “Needle phobia is not only an issue among new users and children but also among adult insulin users.”

Perhaps the most effective method to achieve adequate dissemination of insulin for diabetic patients is through promoting the cooperation of insulin suppliers (pharmaceutical companies) and insulin delivery device manufacturers. Currently, only a few big multinational firms manufacture their own devices.

“Accordingly, one of the biggest and most important challenges for manufacturers of emerging insulin delivery devices is to build a close business relationship with pharmaceutical companies,” advises Vuong. “Insulin pens are a good example of this kind of cooperation.”

Through cooperative agreements and projects, both companies can benefit from mutual synergies and save on additional capital investments and operation costs, even while extending their product portfolio.

European Insulin Delivery Devices Market is part of the Medical Devices Growth Partnership Service programme, which also includes research in the following markets: European Bone Growth and Spinal Fusion Stimulators Markets, European Patient Temperature Management Market, European Device Disinfection and Sterilisation Equipment Market and European Markets for Haemostats and Tissue Sealants. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.

Frost & Sullivan has expanded its flagship Global Congress on Corporate Growth – GIL Global – into several major cities around the world including London. For the first time ever in Europe, Frost & Sullivan will be hosting the Growth, Innovation and Leadership Congress ‘GIL 2009: Europe’ on 19-20 May, at the Sofitel St James in London. GIL Global is the industry’s only event designed to support senior executives in their efforts to achieve sustainable, top-line growth. To register, obtain a programme agenda, explore sponsorship opportunities, or attend as a member of the media for GIL 2009: Europe, please contact Katja Feick, Corporate Communications Europe, at katja.feick@frost.com. One-on-One interviews with Frost & Sullivan senior growth consultants are also being scheduled. For more information you can also visit http://www.frost.com/gilglobal

Frost & Sullivan, the Growth Partnership Company, partners with clients to accelerate their growth. The company’s TEAM Research, Growth Consulting and Growth Team Membership(TM) empower clients to create a growth-focused culture that generates, evaluates and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents. For more information about Frost & Sullivan’s Growth Partnership Services, visit http://www.frost.com.

European Insulin Delivery Devices Market

M2CD

    Contact:
    Katja Feick
    Corporate Communications - Europe
    P: +49 (0) 69 77033 43
    E: katja.feick@frost.com

http://www.frost.com/

SOURCE Frost & Sullivan


Source: newswire



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