The global insulin powder market is segmented into end- user such as hospitals, personal care and others. Additionally, hospitals captured the largest segment in 2016 and it is expected to acquire at a remarkable CAGR during the forecast period. Further, the growth of this segment is attributed to increasing number of population affected with diabetes. Likely, rising demand for advanced healthcare device to cure high blood glucose level is projected to foster the growth of insulin powder market. Moreover, continuous advancement in healthcare products is also believed to spur the growth dry powder inhaler market.
Global insulin powder market is expected to register a considerable CAGR over the forecast period. Moreover, the global insulin powder market is anticipated to observe exponential sales by 2024. The market is expected to expand on the back of supportive government initiatives to develop the healthcare infrastructure.
In terms of regional platform, the most prominent regional markets of insulin powder include North America and Europe. In addition to this, North America region grabbed the leading position in overall insulin powder market aided by U.S. Further, this growth is attributed to the increasing research and development activities related to drugs. Apart from this, Asia-Pacific is believed to be the most lucrative market due to emerging economies such as India and China.
Rising Demand for Non-Invasive Medical Procedure
Growing demand for non-invasive method to cure high blood sugar related diseases along with advancement in drugs is predicted to bolster the growth of insulin powder market. Furthermore, increasing number of death due to diabetes all over the globe for instance, according to American Diabetes Association, diabetes is the seventh leading cause of death in U.S. which accounted for 79,535 deaths in 2015. This factor is believed to propel the growth of insulin powder market.
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Increasing Healthcare Expenditure on Diabetes Treatment
Global healthcare expenditure on diabetes treatment is projected to increase from USD 376 Billion in 2010 to USD 490 USD in 2030, according to National Center for Biotechnology Information. This factor is envisioned to directly impact on the growth of insulin powder market over the forecast period. Moreover, geriatric population is also increasing at a significant pace all across the globe which in turn projected to augment the demand for insulin powder.
On the contrary, lack of awareness and low availability regarding insulin powder are some of the factors hindering the growth of insulin powder market.
The report titled “Insulin Powder Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global insulin powder market in terms of market segmentation by end- user, by distribution channel and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global insulin powder market which includes company profiling of Mankind Corporation, Gemini Bio-Products, SAFC Biosciences and Insulin Keerai. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global insulin powder market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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