Needle-Free Diabetes Care Market – Overview
The global Needle-Free Diabetes Care Market is growing pervasively, mainly due to the augmenting demand for non-invasive treatment solutions. The number of diabetic patients is exploding day by day due to the increasing prevalence of the disease. Moreover, factors such as the technological advancements happened in diabetic care are escalating the market on the global level, bringing about novel devices.
Acknowledging the exponential growth, the market perceives currently, Market Research Future (MRFR) in its recently published study report asserts that the global needle-free diabetes care market will witness exponential accruals by 2023, registering 7.5% CAGR throughout the forecast period (2017-2023).
Additionally, factors such as the huge research funding in diabetes diagnosis & treatment and the rising number of approvals from regulatory bodies are boosting the growth of the market. Also, huge technological advancements and the vast uptake of smart technology to develop advanced devices in diabetic care drives the growth of the market.
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On the other hand, factors such as the lack of awareness among people towards the availability of these care solution are hampering the growth of the market. Also, the high cost associated with the devices used in the needle-free diabetic care and the stringent FDA approvals & reimbursement policies are some of the factors impeding the growth of the market.
Nevertheless, augmenting demand for painless diabetic care are expected to support market growth over the forecast period.Furthermore, the increasing number of obese populations, increasing healthcare expenditure, and strong encouragement from the government are boosting the growth of the market.
Competitive Analysis
Highly competitive, the needle-free diabetes care market appears to be widely expanded and fragmented characterized by several small and large-scale players. To gain a competitive edge and to sustain their position in the market, these players incorporate various strategic initiatives such as partnership, acquisition, collaboration, expansion, and product launch.
Leading Key Players
Key players leading the global needle-free diabetes care market include Bioject Medical Technologies Inc. (US), Antares Pharma, Inc. (US), Endo International plc (US), PharmaJet (US), European Pharma Group (Netherland), Medical International Technology, Inc. (US), PenJet Corporation (US), Valeritas, Inc. (US), INJEX Pharma AG (Germany), Crossject SA (France), National Medical Products Inc. (US), Zogenix, Inc. (US), and 3M Company (US) among others.
Global Needle-Free Diabetes Care Market – Segments
For enhanced understanding, the market has been segmented into five key dynamics: –
By Devices Types : Treatment Devices and Diagnostic Devices.
By Treatment : Oral Insulin, Inhaled Insulin, and Insulin Patch among others.
By Application : Insulin Delivery and other
By End-users : Diagnostic Centers, Hospitals & Clinics and Other
By Regions : Asia Pacific, Europe, North America, and the Rest-of-the-World.
Detailed Geographical Analysis
The North American region, heading with the presence of a vast patient population accounts for the leading position in the global needle-free diabetes care market followed by the European and Asia Pacific regions, respectively. Moreover, factors as the presence of well-developed healthcare infrastructure and the leading players alongside the growing demand for the non-invasive treatment procedures substantiate the growth of the regional market.
Furthermore, the high prevalence of diabetes and support from the companies, private organization, and government associations to improve diabetes care along with the high healthcare expenditure in the region drive the regional market.
The needle-free diabetes care market in the European region holds the second-largest position, globally. Furthermore, the resurging economy in the European region is playing an important role in supporting the market growth by availing the best possible healthcare, increasing healthcare expenditures. Moreover, factors such as the government support that encourage the manufacturers of devices to develop high-quality devices and equipment used in diabetes care are fostering the growth in the regional market.
The Asia Pacific needle-free diabetes care market is rapidly emerging as a profitable market due to the increasing number of diabetic patients and the proliferating healthcare sector. Moreover, factors such as the spreading awareness among individuals towards the advantages and the availability of needle-free diabetes care drive the market growth in the region.
Industry News
March 12th, 2019 ––– Letko Brosseau & Associates Inc. (the US), an independent investment manager announced the acquisition of 990 Shares in Becton Dickinson and Company (BDX the US), medical technology company and medical instruments supplier, valuing at approximately USD 223 MN.
BDX is well-established company manufacturing and selling a wide range of medical supplies, devices, laboratory equipment, and diagnostic products worldwide. The company’s BD Medical segment is also active in needle-free diabetes care, providing equipment such as automated medication dispensing, automated supply management systems, medication inventory optimization, and tracking systems.
September 11, 2018 —- QS Medical Technology Co., Ltd. (China), a leading medical equipment manufacturing company launched a new needle-free injection technology that is highly-effective and potentially more comfortable for patients with diabetes.
Emphasizing on developing innovative medical products to make life more comfortable, QS had partnered with Covestro to produce high-quality, needle-free injectors that can meet the needs of millions of diabetic patients in China and around the world.
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