Press release
Needle-Free Diabetes Management Market Research Report by Leading Key Players - Medtronic, Insulet Corporation, Tandem Diabetes Care, Inovio Pharmaceuticals, Pharmajet, Zogenix, Antares Pharma
The market is driven by factors such as growing geriatric population, high prevalence of diabetes, technological advancements and increasing awareness regarding the safety issues associated with needles.
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The needle-free diabetes management market comprises of treatment device, diagnostic device and artificial pancreas. In 2016, the treatment device led the market, whereas artificial pancreas is expected to grow at the fastest rate during the forecast period. In terms of type, needle-free diabetes treatment device market has been segmented into insulin pen and jet injectors, insulin patch and pump, and insulin inhalers. The needle-free insulin pen & jet injectors contributed the largest revenue in the global market during 2016, owing to the increasing compliance for jet injectors for diabetes treatment and improving dosing rate through jet injectors.
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Asia-Pacific is the fastest growing region in the needle-free diabetes management market. The prevalence of Type 2 diabetes is increasing rapidly in Asia, which is the key growth driver for the needle-free diabetes management industry in the region. China is expected to have highest prevalence rate followed by India, due to increase in industrialization, urbanization and westernization. Another key factor creating huge demand for needle free diabetes management is the large geriatric patient pool. Older people are more diabetic prevalent; therefore, it significantly drives the Asia-Pacific needle-free diabetes management industry.
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The demand for needle-free diabetes management market is increasing due to increasing prevalence of diabetes. The prevalence of diabetes is increasing due to the alteration in lifestyle and lack of access to preventive care. To reduce the worldwide burden of diabetes, the demand for technologically advanced diabetes management is increasing, which is further expected to increase the demand for needle-free diabetes management devices, as they are easy and safe mode of insulin delivery and blood glucose monitoring.
Some of the key players in the needle-free diabetes management market include Medtronic plc, Insulet Corporation, Tandem Diabetes Care, Inc., Inovio Pharmaceuticals, Inc., Pharmajet, Inc., Zogenix, Inc., Antares Pharma Inc., and Glide Pharmaceutical Technologies Ltd.
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