The Needle-Free Diabetes Care Market is anticipated to reach USD 22,138.64 Million by 2030 at 8.6% CAGR during the forecast period 2022-2030. This is because of the growing diabetes population across the globe. People are looking for needle-free options for the intake of insulin.
Diabetes may be termed as a group of metabolic disorders, caused due to insulin deficiency. Needle-free medication is growing popular because it is a modern option to administer pain-free insulin medication to the patient. The diabetic population is multiplying around the world, which is expected to drive the needle-free diabetes care market growth.
Moreover, a large share of the population is also suffering from obesity. This has led to a rise in healthcare expenditure. The government is also rendering strong support for medication facilities, which will contribute to the growth of the market. Studies show that smoking adds to the probability of having diabetes in people. Moreover, more than 60% of the global population comprises smokers. This fact is also known to increase the risk of diabetes and may fuel the growth of the needle-free healthcare market.
With the rise of the Covid-19 impact, many large-scale businesses and industries suffered, except healthcare and life support products. The lockdown and physical distancing protocols have affected millions of small and big business institutions alike. The needle-less diabetes healthcare market saw a slight downfall post the pandemic, due to the lockdown and physical distancing.
However, the key companies have adopted measures to sell needle-free diabetes medication online. Moreover, people are growing aware of the need for needle-less diabetes healthcare provisions. Hence, these factors are expected to boost the growth of the needle-free diabetes care market value in the years to come.
A few factors may drive the growth of the needle-free diabetes care market share. There have been increasing cases of diabetes and obesity in the population around the globe. These cases have contributed to the hike in healthcare expenditure for the people. Moreover, the government has been rendering strong support to the development of needle-free medication for diabetes. Hence, these factors are expected to accelerate global market growth.
The major companies that account for the largest needle-free diabetes care market share are adopting various trends such as new product launches in the field. The advancements in technology and research are adding to its growth. Moreover, most companies are adopting R&D market trends. Hence, these factors serve as opportunities for global market growth.
There are a few factors that may inhibit the growth of the needle-free diabetes care market. One of the most important of them is the lack of awareness among people regarding the use of needle-free healthcare. Moreover, these needle-less diabetes care products are a bit expensive. Hence, these factors may hinder market growth.
Some factors that may challenge the key diabetes healthcare providers include the cost of needle-free products. They are quite expensive and are not affordable to the majority of the diabetic population around the globe. These needle-free care products are also not available that easily. Hence, these factors challenge the key companies of the global market.
The needle-free diabetes care market is anticipated to grow at a high speed in the years to come. This is because of the growing diabetes population across the globe. People are looking for needle-free options for the intake of insulin.
People are growing aware of needle-free diabetes healthcare products. These products are growing popular because of the numerous benefits they offer, without having to hurt your skin or body. Many key companies of the market have also adopted trends such as innovations and product launches. The government is also supporting market research and development. Hence, these factors may fuel the growth of the industry in the global needle-free diabetes care market forecast.
The global needle-free diabetes care market is classified into many segments such as device types, treatment, application, and end-user. Listed below are the needle-less diabetes healthcare market segments:
By Device Types
The regional division of the needle-free diabetes care market analysis comprises North America, Europe, Asia Pacific, and the rest of the world. Among them, North America is expected to rule over the global market over the forecast period (2022 – 2027). This is because most of the obese and diabetic population in the globe belongs to the North American region.
Moreover, there are huge changes in the lifestyle of people to maintain their health. This region will be followed by Europe, with the second-largest share in the global needle-free diabetes care industry. However, the Asia Pacific region is anticipated to witness the fastest market growth rate over the forecast period. This is because the Asia Pacific comprises a large share of the diabetic population.
The needle-free diabetes care industry is dominated by a few companies that play a vital role in the growth of the market. These healthcare companies are called the key companies of the market. They contribute to the largest share of the market profit.
The companies account for the market profits by adopting various needle-free diabetes care market trends such as joint ventures, product launches, company expansions, and procurements. They are innovative insulin medication options for diabetic patients.
Below are the key companies that offer needle-free diabetes care in the global market, with the location of their headquarters:
This report delivers all the information about the growth of the global needle-free diabetes care market size in the forecast period. It also contains different sections of the market analysis to help obtain detailed information such as opportunities, challenges, drivers, Covid-19 analysis, regional analysis, competitive landscape, and others. Moreover, all the information is collected from verified primary and secondary sources to provide the expected needle-free diabetes care market outlook by the year 2027.
|Market Size||USD 22,138.64 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Devices Types, Treatment, Application, End User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||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).|
|Key Market Opportunities||New product launches and R&D Amongst major key Players|
|Key Market Drivers||