Global Needle Free
Diabetes Management Market is Expected to Reach USD 9,797.8 Mn by 2022
The latest market
report published by Credence Research, Inc. “Global Needle Free Diabetes
Management Market - Growth, Share, Opportunities, Competitive Analysis, and
Forecast, 2016 - 2022,” the needle free diabetes management market was valued at USD 3,225.6 Mn in 2015,
and is expected to reach USD 9,797.8 Mn by 2022, expanding at a CAGR of 16.8%
from 2016 to 2022.
Browse the
full report Needle Free Diabetes Management Market - Growth, Share,
Opportunities, Competitive Analysis, and Forecast, 2016 – 2022 report at http://www.credenceresearch.com/report/needle-free-diabetes-management-market
Market
Insights:
Diabetes is majorly
classified into Type 1 diabetes (due to b-cell destruction, usually leading to
absolute insulin deficiency), Type 2 diabetes (due to a progressive loss of
insulin secretion on the background of insulin resistance) and gestational
diabetes mellitus (GDM) (diabetes diagnosed in the second or third trimester of
pregnancy that is not clearly overt diabetes).
According to the
International Diabetes Federation, in 2015 about 415 million people were
observed suffering with diabetes and by 2040 the number is expected to soar to
642 million worldwide. In 2015, North America and Caribbean comprised patient
population of 44.3 million, Europe possessed 59.8 million, South East Asia had
78.3 million, Western Pacific had 153.2 million, South & Central America
had 29.6 million, and Africa had 14.2 million.
The market
segmentation of needle free diabetes management market is carried out on the
basis of type of devices and geography. The devices segment is further
sub-segmented into treatment devices, diagnostic devices and artificial
pancreas. Treatment devices comprise of insulin pens, pumps & patches,
inhalers and jet injectors.
Insulin patch &
pump was observed as the fastest growing segment in treatment devices segment
due to high efficiency, patient convenience, and rising public awareness
related to the novel needle-free treatment devices. Insulin pens and jet
injectors collectively accounted for the largest market share of around 51% of
the overall needle-free diabetes treatment market as they are one of the most
initial treatment solutions available in the market, high market penetration
achieved till date and high public awareness related with the products.
Geography segmentation
comprised regions such as North America, Europe, Asia Pacific, Latin America,
Middle East and Africa. Each geography market is further split to provide
market revenue for select countries such as the U.S., Canada, U.K. Germany,
China, Japan, Brazil, and GCC countries. North America was observed as the
largest and most potential regional market for needle free diabetes management
market. North America constitutes regional markets of U.S. and Canada, the
rising prevalence of diabetes is the major driver for the growth of North
America needle free diabetes management market. The developed healthcare
infrastructure, high public awareness related to diabetes management, and
rising research and development activities related to diabetes management are
the key factors assisting the growth of North America needle free diabetes management
market.
Market
Competition Assessment:
The needle free
diabetes management market is observed as the most diversified and competitive
market comprising large number of players.
The market is dominated by several players, depending on their major
competencies. The key players in this market are Zogenix, Inc., 3M, Antares
Pharma Inc., Glide Pharmaceutical Technologies Ltd., Injex Pharma AG,
Pharmajet, Inc., Bioject Medical Technologies, Inc., Medtronic, Inc., Johnson
& Johnson, Inc., Pancreum LLC, Tandem Diabetes Care, Inc., JDRF, and Akra Dermojet.
Key Market
Movements:
Rising prevalence of
diabetes worldwide as is claimed as one of the most chronic diseases if not
well managed and is expected to reach alarming levels in the coming years
The technology to
manage diabetes is developing at significant pace some ground breaking
innovations in the field of artificial pancreas are considered to change the
needle free diabetes management market
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