Needle free insulin devices are one of the types of insulin delivery devices. Further, needle free insulin devices use jet technology for insulin injection instead of needles. These are the needle free devices which are used to inject insulin into the tissue under the skin without any use of needle. The aim behind this technology is to provide better insulin delivery devices to the patients suffering from diabetes. Moreover, use of needle free insulin devices is painless and as effective as needle insulin devices. Needle free insulin devices are highly acceptable in those situations where insulin injection is the only option for the treatment. This technology is also very useful in treatment of those patients who have fear with needles.
Market Size & Forecast
Global needle free insulin devices market is predicated to experience a massive growth during the forecast period i.e. 2017-2024. Various factors such as growing technological advancement with medical devices, growing geriatric population and increasing number of people suffering from diabetes are anticipated to foster the growth of global needle free insulin market during the forecast period.
Moreover, market of needle free insulin devices is expected to expand on the back of growing insulin devices market. On the basis of geography, global needle free insulin devices market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
North America is expected to be the major market of needle free insulin devices during the forecast period. Additionally, presences of large geriatric population coupled with growing number of patients suffering from diabetics are some major factors likely to fuel the growth of market in North America region. U.S is predicted to be the dominating country in North America region due to high adoption rate of advanced technology in this country.
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Furthermore, Asia Pacific region is believed to witness remarkable growth during the forecast period. This growth in Asia Pacific region can be attributed to large base of population suffering from diabetic problems and growing awareness regarding healthcare amongst the consumers.
China, India and Japan are likely to be the key countries to the growth of market in Asia Pacific region over the forecast period.
Furthermore, Europe region is also projected to grow at remarkable pace during the forecast period owing to the key factors such as high expenditure by consumers on health care and growing adoption of potential technologies in health industries in this region.
By end user, home care is anticipated to be the major consuming area due to increasing adoption of insulin delivery devices amongst the patient suffering from diabetic. Further, rising development of advance insulin delivery devices such as needle free insulin device is a major factor which is likely to allow homecare to behold its dominance during the forecast period.
Growth Drivers & Challenges
Global needle free insulin devices market is expected to be driven by various factors such as growing number of individuals suffering from diabetic related problems coupled with rising adoption of insulin delivery devices by diabetic patients. Further, growing concerns amongst the consumers regarding health care is a major factor responsible for rise in adoption of needle free insulin devices.
Moreover, increasing geriatric population coupled with rising adoption of homecare treatment by aged people is likely to be the key factor which is expected to drive the growth of global market. Additionally, rapid technological advancements with medical devices are also envisioned to foster the growth of global market of needle free insulin devices market.
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Furthermore, growing disposable income of the consumers and increasing spending on health care are predicated to be the dynamic factors behind the growth of global market. Apart from this, needle free insulin devices are highly adopted by those patients who have fear or strong dislike for needles. Further, this key factor is anticipated to foster the growth of global needle free insulin devices market in near future.
However, high cost of needle free insulin devices is a major challenge to the market of needle free insulin devices market. Additionally, lack of unavailability of this product in some emerging economies is likely to hinder the growth of global market of needle free insulin devices.
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