Global needle free insulin devices market is expected to register a robust CAGR over the forecast period. Moreover, the global needle free insulin devices market is expected to reach at notable revenue by the end of 2024. Various features of needle free insulin devices such as faster absorption & action of insulin, portable, reusable, virtually pain free and no risk of needle stick injuries are major factors which are expected to escalate the growth of global needle free insulin devices market.
The global needle free insulin devices market is segmented into product type such as fillable and prefilled. Among these segments, fillable segment is expected to witness significant demand during the forecast period. Increasing number of diabetic patients and those patients who are not physically able to visit hospital regularly are adopting needle free insulin device at remarkable pace. Further, growing adoption of needle free insulin device amongst the diabetic and disabled patients is envisioned to drive the growth of global Needle Free Insulin Device market over the forecast period.
Furthermore, the homecare segment by end user is likely to grow at remarkable pace during the forecast period. A number of factors such as increasing number of people who have diabetes, high blood sugar and rising prevalence of chronic diseases in old people across the globe are major factors which are augmenting the demand for needle free insulin devices across the globe.
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Increasing number of patients who have diabetes and high blood sugar
More than 220 Million people diagnosed by diabetes across the globe. Increasing geriatric population across the globe and growing prevalence of chronic diseases amongst the old people are major concerns in the healthcare industry. Moreover, unhealthy lifestyle of consumers coupled with increasing number of people suffering from diabetes and high blood sugar is a key factor which is envisioned to fuel the demand for needle free insulin devices during the forecast period.
Technological advancements in healthcare sector
Rapid technological advancements in healthcare sector and growing number of diabetic patients are driving the growth of market. Moreover, increasing number of people who are new to diabetes problem and those who have needle phobia and growing number of children suffering from diabetes and high blood sugar problems are anticipated to bolster the growth of global needle free insulin device market.
However, high cost of needle free insulin devices and chances for side-effect are some of the factors that are likely to inhibit the growth of the needle free insulin devices market in the near future.
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.
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This report also provides the existing competitive scenario of some of the key players of the global needle free insulin devices market which includes company profiling of PharmaJet, Injex Pharma AG, European Pharma Group (InsuJet), ASTS Enterprises Pty Ltd. Key potential companies that may enter into the manufacturing of needle free insulin devices are: Antares Pharma Inc., Endo International PLC, Bioject Medical Technologies Inc., Medical International Technology Inc., National Medical Products Inc. 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 needle free insulin devices 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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