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Diabetic people are often incapacitated by extremely high or low
levels of sugar, where they must be administered with immediate medication,
generally injections. Injecting drugs intramuscularly can be a real challenge
for family members or non-medical persons, which has created an intensifying
need for needle-free diabetic care. Diabetes has reached an epidemic stage and
a substantial portion of the global population is suffering from the diseases.
Treatment of diabetes requires continuous monitoring and administration of
medication through needle is not a desirable process. Thus, needle-free
diabetes care is gaining massive popularity. It involves administration of
medication through modern means which does not involve needle prick. Market
Research Future (MRFR) has recently launched a report on the global Needle-Free
Diabetes Care Market size and has predicted the market to expand at a CAGR
of 7.5% over the forecast period of 2017-2023.
The market derives much of its growth from the consolidating
trend of minimally-invasive medical procedures. Driven by the trend, various
market players are endeavoring to come up with more convenient drug delivery
devices. In addition, the market is driven by rising healthcare expenditure and
rise in awareness regarding needle-free techniques. On the other hand, the
market growth might be hindered by high cost associated with needle-free
diabetes care and lack of awareness.
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Competitive Landscape
Zogenix, Inc. (US), PharmaJet (US), Endo International plc (US),
European Pharma Group (Netherland),
Medical International Technology, Inc. (US), Bioject Medical
Technologies Inc. (US), Valeritas, Inc. (US),
Antares Pharma, Inc. (US), National Medical Products Inc. (US),
3M Company (US), INJEX Pharma AG (Germany), and PenJet Corporation (US) are the
key players in the global Needle-Free Diabetes Care Market.
Segmentation
The Needle-Free Diabetes Care Market
has been segmented based on devices type, treatment, application, and end user.
By device type, the Needle-Free
Diabetes Care Market has been segmented into treatment devices and diagnostic
devices. The treatment devices segment has been further segmented into insulin
jet injector, insulin pen, insulin inhaler, and insulin patch & pump. The
diagnostic devices segment has been further segmented into continuous glucose
monitoring and instant glucose monitoring.
By treatment, the Needle-Free
Diabetes Care Market has been segmented into oral insulin, inhaled insulin,
insulin patch, and others.
By application, the Needle-Free
Diabetes Care Market has been segmented into insulin delivery and others.
By end user, the Needle-Free
Diabetes Care Market has been segmented into diagnostic centers, hospitals
& clinics and other.
Regional Analysis
Region-wise, the Needle-Free Diabetes Care Market has been
segmented into the Americas, the Middle East & Africa (MEA), Europe, and
Asia Pacific (APAC).
The Americas account for the largest share of the market. The
region houses a massive pool of diabetic patients as well as obese population,
who are at threat of acquiring diabetes. Needle-free diabetes care has gained
prominence in the Americas as the region is a fast adopter of latest
technologies. High healthcare expenditure and availability of favorable
reimbursement schemes are factors supporting the growth of the market. As per
the American Diabetic Association, in 2016, 29 Mn Americas suffered from diabetes.
The presence of various major market players in the region also create a
conducive environment for the market growth.
Europe has secured the second spot in the global Needle-Free
Diabetes Care Market. The growth of the market can be attributed to the
increasing pool of diabetic patients and rising healthcare expenditure.
APAC represents the fastest-growing Needle-Free Diabetes Care
Market. Rise in the level of awareness regarding the availability of
needle-free diabetic care and the presence of a huge diabetic population is
supporting the growth of the market. Moreover, the major market players are
increasingly foraying into the APAC region to tap the opportunities offered by
the developing countries.
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