The report on the Global Needle-Free Diabetes Care Market covers historical market trends, current market dynamics, market valuation by segmentation as well as region, country-level analysis for every segment, key player's market share analysis, competitive landscape and supply chain analysis.
pune, India - September 10, 2019 /MarketersMedia/ —
Needle-Free Diabetes Care Market Overview
Diabetic people are often incapacitated by extremely high or low levels of sugar, where they must be administered with immediate medication, generally injections. Injecting drugs intramuscularly can be a real challenge for family members or non-medical persons, which has created an intensifying need for needle-free diabetic care. Diabetes has reached an epidemic stage and a substantial portion of the global population is suffering from the diseases. Treatment of diabetes requires continuous monitoring and administration of medication through needle is not a desirable process. Thus, needle-free diabetes care is gaining massive popularity. It involves administration of medication through modern means which does not involve needle prick. Market Research Future (MRFR) has recently launched a report on the global needle-free diabetes care market and has predicted the market to expand at a CAGR of 7.5% over the forecast period of 2017-2023.
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The market derives much of its growth from the consolidating trend of minimally-invasive medical procedures. Driven by the trend, various market players are endeavoring to come up with more convenient drug delivery devices. In addition, the market is driven by rising healthcare expenditure and rise in awareness regarding needle-free techniques. On the other hand, the market growth might be hindered by high cost associated with needle-free diabetes care and lack of awareness.
Needle-Free Diabetes Care Market Segmentation
The needle-free diabetes care market has been segmented based on devices type, treatment, application, and end user.
By device type, the needle-free diabetes care market has been segmented into treatment devices and diagnostic devices. The treatment devices segment has been further segmented into insulin jet injector, insulin pen, insulin inhaler, and insulin patch & pump. The diagnostic devices segment has been further segmented into continuous glucose monitoring and instant glucose monitoring.
By treatment, the needle-free diabetes care market has been segmented into oral insulin, inhaled insulin, insulin patch, and others.
By application, the needle-free diabetes care market has been segmented into insulin delivery and others.
By end user, the needle-free diabetes care market has been segmented into diagnostic centers, hospitals & clinics and other.
Needle-Free Diabetes Care Market Regional Analysis
Region-wise, the needle-free diabetes care market has been segmented into the Americas, the Middle East & Africa (MEA), Europe, and Asia Pacific (APAC).
The Americas account for the largest share of the market. The region houses a massive pool of diabetic patients as well as obese population, who are at threat of acquiring diabetes. Needle-free diabetes care has gained prominence in the Americas as the region is a fast adopter of latest technologies. High healthcare expenditure and availability of favorable reimbursement schemes are factors supporting the growth of the market. As per the American Diabetic Association, in 2016, 29 Mn Americas suffered from diabetes. The presence of various major market players in the region also create a conducive environment for the market growth.
Europe has secured the second spot in the global needle-free diabetes care market. The growth of the market can be attributed to the increasing pool of diabetic patients and rising healthcare expenditure.
APAC represents the fastest-growing needle-free diabetes care market. Rise in the level of awareness regarding the availability of needle-free diabetic care and the presence of a huge diabetic population is supporting the growth of the market. Moreover, the major market players are increasingly foraying into the APAC region to tap the opportunities offered by the developing countries.
Needle-Free Diabetes Care Market Competitive Landscape
Zogenix, Inc. (US), PharmaJet (US), Endo International plc (US), European Pharma Group (Netherland),
Medical International Technology, Inc. (US), Bioject Medical Technologies Inc. (US), Valeritas, Inc. (US),
Antares Pharma, Inc. (US), National Medical Products Inc. (US), 3M Company (US), INJEX Pharma AG (Germany), and PenJet Corporation (US) are the key players in the global needle-free diabetes care market.
Needle-Free Diabetes Care Industry Updates
July 2019 - the US FDA approved a new needle-free method of diabetes care. Dubbed as Baqsimi, can help people recover from highly dangerous levels of lower blood sugar. The drug is avaialble in a powder form and can be easily administered by a patient's relative or others.
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