According to International Diabetes Federation, diabetes is becoming one of the major diseases because about 420 million adults of the total global population had diabetes in 2016. On account of lack of effective treatment for this disorder, many manufacturers are continuously trying to develop new drugs and more convenient drug delivery devices. Increasing diabetic population across the globe is the main reason for the development of the Global Needle-Free Diabetic Care Market. Moreover, increasing healthcare expenditure, increasing demand for the better and convenient devices, and development in healthcare infrastructure have contributed to the growth of the market. On the other hand, higher cost of devices and availability of alternative devices may hamper the growth of the market during the forecast period.
Global Needle-Free Diabetic Care Market Is Expected to grow at a CAGR of 7.5% during the forecast period 2017-2023.
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The Global Needle-Free Diabetic Care Market is segmented on the basis of Devices Types into Treatment Devices and Diagnostic Devices.
Treatment Devices are further segmented into insulin jet injector, insulin pen, insulin inhaler, and insulin patch & pump.
Diagnostic Devices are also further segmented into continuous glucose monitoring and instant glucose monitoring.
On the basis of Treatment Type, the market is segmented into oral insulin, inhaled insulin, insulin patch and others.
On the basis of Applications, the market is segmented into insulin delivery and others. On the basis of end users, the market is segmented into diagnostic centers, hospitals & clinics, and other.
The Global Needle-Free Diabetic Care Market is segmented: America, Europe, Asia Pacific and the Middle East and Africa. America accounts for the largest Needle-Free Diabetic Care Market. According to American Diabetic Association, 29 million Americans were suffering from diabetes in 2016, which is 9.3% of total American population. Obese patients are more prone to diabetes; increasing number of obese population in America is the major driving factor in the growth of the market. Europe is the second largest market, which is followed by Asia Pacific. Increasing awareness among the people and government support for the research and development have encouraged the growth of the market in Europe. Asia Pacific is the fastest growing Needle-Free Diabetic Care Market globally. China and India contribute a major share in the Asia Pacific Needle-Free Diabetes Care Market due to the presence of huge diabetic population. The Middle East & Africa holds the lowest share in the Global Needle-Free Diabetic Care Market.
Some of the major players in the Global Needle-Free Diabetic Care Market: Antares Pharma, Inc. (US), Bioject Medical Technologies Inc. (US), Endo International plc (US), European Pharma Group (Netherland), PharmaJet (US), Medical International Technology, Inc. (US), Valeritas, Inc. (US), PenJet Corporation (US), INJEX Pharma AG (Germany), National Medical Products Inc. (US), Crossject SA (France), Zogenix, Inc. (US), 3M Company (US).
The Global Needle-Free Diabetic Care Market is highly fragmented due to the presence of a number multinational and local players. The prominent players in the market adopt various strategies such as new product launch, product innovation, and investment in research and development for the advancement of needle-free devices. Some companies have adopted developmental strategies like merger and acquisition to sustain in the competitive market environment.
Antares Pharma Inc., headquartered in the US, is a specialty pharmaceutical company, which focuses on the development of new medical devices. Twin-Jector EZ II and ZOMA-Jet are the most common needle-free injector. Also, the company has got approval for Vision, which is a reusable needle-free injectors, and disposable multi-use pen injectors.
INJEX Pharma AG, German headquartered company, is a manufacturer of syringes without a needle. In 2007, INJEX Pharma AG announced FDA clearance to market and sold their needle free injection products in the America.
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