Insulin Powder Market By End- User (Hospitals, Personal Care, Others) By Distribution Channel (Online Store, Offline Store) and Region – Global Forecast to 2024
Insulin powder is defined as a fast-acting form of hormone insulin. It helps to lower the blood sugar level and lowers the amount of glucose in the blood, which helps to treat diabetes. This insulin drug is approved by the food and drug administration (FDA) to control blood sugar level of adults who have type 1 and type 2 diabetes.
Market Size and Forecast
Global insulin powder market is anticipated to flourish at a robust growth over the forecast period. Further, the factors propelling the growth of insulin powder market include growing prevalence of diabetic population and high demand for advanced insulin such as insulin powder.
In terms of regional platform, the most prominent markets include North America and Europe. North America region is expected to dominate the market during the forecast period aided by U.S. Further, increasing research & development activities related to drugs and rising awareness about diabetes are believed to flourish the growth of insulin powder market in this region. Moreover, presence of major key players in North America region is also predicted to bolster the growth of insulin powder market over the forecast period.
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Europe captured the second largest market of insulin powder in terms of revenue in 2016. The major countries witnessing the augmented demand for insulin powder include U.K. and Germany. Further, the factors propelling the growth of insulin powder market in Europe region include increasing diabetic patients and rising healthcare investment by the government. Additionally, rise in geriatric population and increasing obese population are envisioned to boost the demand for insulin powder in the Europe region. Asia-Pacific region is expected to showcase a highest CAGR over the forecast period due to emerging economies nations such as China and India. Moreover, Japan is the dominating country in this region owing to growing number of diabetic patients.
Our in-depth analysis has segmented global insulin powder market into the following segments:
Global insulin powder market is further classified on the basis of region as follows: North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis. Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis. Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis. Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis. Middle East and Africa (GCC, North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Growth Drivers and Challenges
Factors such as the large population afflicted with diabetes and rise in geriatric population are anticipated to be the dynamic factor behind the rapid growth of insulin powder market across the globe. Further, growing governmental healthcare expenditure is also expected to flourish the growth of insulin powder market by the end of 2024. Moreover, favorable government initiatives and advancement in the field of insulin are expected to positively impact the growth insulin powder market.
Additionally, rising number of aging population and increasing research and development activities for drugs discovery are predicted to propel the growth of insulin powder market. Likely, obese population is highly linked to the prevalence of diabetes which in turn boosting the demand for insulin powder to control blood sugar level. This is expected to augment the growth of insulin powder market globally.
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However, lack of awareness regarding insulin powder is anticipated to hinder the growth of insulin powder market by the end of 2024. Moreover, high cost of insulin powder is also believed to dampen the growth of insulin powder market.
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