Needle-Free Diabetes Care Market Size ,by manufacturers, Demand, application, and region 2027
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 Size and has predicted the market to expand at a CAGR of 7.5% over the forecast period of 2017-2023.
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.
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Segmentation
The Needle-Free Diabetes Care Market
Size has been segmented based on devices type, treatment, application, and end
user.
By device type, the Needle-Free
Diabetes Care Market Size 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 Size has been segmented into oral insulin, inhaled
insulin, insulin patch, and others.
By application, the Needle-Free
Diabetes Care Market Size has been segmented into insulin delivery and others.
By end user, the Needle-Free
Diabetes Care Market Size has been segmented into diagnostic centers, hospitals
& clinics and other.
Regional Analysis
Region-wise, the Needle-Free Diabetes Care Market Size 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 Size. 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
Size. 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.
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 Size.
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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