Diabetes is a group of metabolic disorders, which is caused by insulin deficiency. Needle-free is a modern technique for administration of the medication to the patient. According to the International Diabetes Federation, about 420 million adult population was suffering from diabetes in 2016, which is increasing at the rate of 8.4% per year and is expected to reach 625 million by 2040. Increasing diabetic population is the major driving factor for the growth of the market. Moreover, increasing obese population, increasing healthcare expenditure, and strong encouragement from the government have also contributed to the growth of the market. According to research, smoking increases the possibility of diabetes; more than 60% of the global population smokes, this has increased the risk of diabetes and contributed to the growth of the market. On the other hand, factors such as, lack of awareness among people and higher cost are hampering the growth of the market.
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Global needle-free diabetic care market is expected to grow at a CAGR of 7.5% during the forecast period 2017-2023.
Segmentation
The global needle-free diabetic care market is segmented on the basis of devices types into treatment devices and diagnostic devices. Treatment devices are further segmented: insulin jet injector, insulin pen, insulin inhaler, and insulin patch & pump. Diagnostic devices are also further segmented into continuous glucose monitoring and instant glucose monitoring. On the basis of treatment, the market is segmented into oral insulin, inhaled insulin, insulin patch, and others. On the basis of applications, the market is segmented into insulin delivery and others. On the basis of end users, the market is segmented into diagnostic centers, hospitals & clinics and other.
Regional Analysis
America dominates the global needle-free diabetes care market owing to large diabetic population. Apart from this, increasing number of obese people, changing lifestyle and increasing healthcare expenditure have boosted the growth of the market in America. Europe accounts for the second largest market, which is followed by Asia Pacific. Asia Pacific is the fastest growing region in the global market due to the presence of large diabetic population.
Key Players for Global Needle-free Diabetes Care Market
Antares Pharma, Inc. (US), Bioject Medical Technologies Inc. (US), Endo International plc (US), European Pharma Group (Netherland), PharmaJet (US), Medical International Technology, Inc. (US), Valeritas, Inc. (US), PenJet Corporation (US), INJEX Pharma AG (Germany), National Medical Products Inc. (US), Crossject SA (France), Zogenix, Inc. (US), 3M Company (US).
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