03-Aug-2022 | Zion Market Research
The global needle-free diabetes care market size was worth USD 9.1 billion in 2021 and is estimated to grow to USD 13.4 billion by 2028, with a compound annual growth rate (CAGR) of approximately 6.7% over the forecast period. The report analyzes the needle-free diabetes care market's drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in the needle-free diabetes care market.
If an individual with type 2 diabetes does not react to oral hypoglycemic medications, insulin therapy is a standard therapeutic option. Insulin injections are typically used to provide the medication via the submucosal route for type 1 and type 2 diabetes. To diagnose a patient, blood samples are typically drawn from them. Unfortunately, this technique can result in needlestick injuries for medical staff, leading to several infections and suffering. As a result, people are using non-invasive, needle-free diabetic products.
One of the key drivers fueling the expansion of the global needle-free diabetes care market is the development of transdermal patches, which measure blood sugar levels via the skin without extracting blood. The market for needle-free diabetes care is growing faster than average because more people are adopting unhealthy lifestyles. The market for needle-free diabetes care is also influenced by the rising knowledge of the condition, its therapies, and technical developments to improve treatment facilities. Additionally, the market is favorably impacted by the growing elderly population, rising illness incidence, changing lifestyles, and increased healthcare spending. On the other hand, high facility costs and worries about technical faults are anticipated to restrain the market's expansion.
The global needle-free diabetes care market is segregated based on device types, treatment, application, end users, and region. Based on device types, the market is divided into treatment devices and diagnostic devices. The treatment device dominated the market due to prolonged use in 2021. Based on treatment, the market is divided into oral insulin, inhaled insulin, insulin patch, and others. With its great efficiency, the insulin patch segment is seen to be the one with the fastest expanding market share. Based on application, the market is divided into insulin delivery and others. The market's most popular application area in 2021 was insulin delivery. Based on end users, the market is divided into diagnostic centers, hospitals & clinics, and others. In 2021, hospitals & clinics contributed significantly to the global market expansion.
The global needle-free diabetes care market is divided into geographic regions: North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America held a dominant position in the market in 2021 due to its sophisticated healthcare system, high public awareness regarding diabetes treatment, and increased research & development activities linked to diabetes management. This is because the North American continent is home to most of the world's obese and diabetic population. The region's dominance in the international arena has been aided by a high level of awareness regarding the potential advantages of needle-free drug delivery devices. Additionally, the market is expanding due to the availability of highly developed healthcare facilities and significant R&D spending by government agencies and pharmaceutical corporations to treat diabetes and chronic pain.
The Asia Pacific market is predicted to rise quickly due to rising health care costs and a large patient population. Japan, South Korea, China, and India are projected to be the countries that will experience the most market growth over the next six years in the Asia-Pacific region. The major factors anticipated to support the development of the Asia Pacific market include numerous ones like the evolving economic landscape & industrialization, rising disposable incomes, increasing public awareness regarding the management of diabetes, and rising diagnostic rates providing favorable environments for needle-free diabetes care.
Key players functioning in the global needle-free diabetes care market include European Pharma Group, Medical International Technology Inc., Antares Pharma Inc., Zogenix Inc., 3M Company, Valeritas Inc., Endo International plc., INJEX Pharma AG, and Bioject Medical Technologies Inc.
Browse the full “Needle-Free Diabetes Care Market By Devices Types (Treatment Devices and Diagnostic Devices), By Treatment (Oral Insulin, Inhaled Insulin, Insulin Patch, and Others), By Application (Insulin Delivery and Other), By End-User (Diagnostic Centers, Hospitals & Clinics, and Others), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028.” Report at https://www.zionmarketresearch.com/report/needle-free-diabetes-care-market
Global Needle-Free Diabetes Care Market is segmented as follows:
By Devices Types
By End Users
Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, the company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.
Zion Market Research
244 Fifth Avenue, Suite N202
New York, 10001, United States
Tel: +49-322 210 92714
USA/Canada Toll-Free No.1-855-465-4651