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Needle-Free Diabetes Management Market Business Overview, Challenges, Opportunities
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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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Among the countries of the Asia-Pacific region, Japan was the largest contributor to the Asia-Pacific needle-free diabetes management market in 2016. The Japanese needle-free diabetes management industry is expected to grow at a CAGR of 19.8% during the forecast period. However, the Chinese needle free diabetes management industry is expected to witness the highest growth at a of CAGR 24.1% during the forecast period.
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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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