The latest industry report published by Credence Research, Inc. “Global Needle Free Diabetes Management industry – Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016 – 2022,” the needle free diabetes management industry 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
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.
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The industry segmentation of needle free diabetes management industry 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 industry share of around 51% of the overall needle-free diabetes treatment industry as they are one of the most initial treatment solutions available in the industry, high industry penetration achieved till date and high public awareness related with the products.
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Geography segmentation comprised regions such as North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Each geography industry is further split to provide industry 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 industry for needle free diabetes management industry. North America constitutes regional industrys of U.S. and Canada, the rising prevalence of diabetes is the major driver for the growth of North America needle free diabetes management industry. 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 industry.
Industry Competition Assessment:
The needle free diabetes management industry is observed as the most diversified and competitive industry comprising large number of players. The industry is dominated by several players, depending on their major competencies. The key players in this industry 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 industry 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 industry
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