$13.4+ Billion Global Needle-Free Diabetes Care Market Size Likely to Grow at 6.7% CAGR During 2022-2028 | Industry Trends, Share, Growth, SWOT Analysis, Forecast by Zion Market Research

NEW YORK, Aug. 3, 2022 /PRNewswire/ -- As per Zion Market Research study, The global needle-free diabetes care market size was worth USD 9.1 billion in 2021 and is estimated to grow to USD 13.4 billion by 2028, with a compound annual growth rate (CAGR) of approximately 6.7% over the forecast period.

Needle-Free Diabetes Care Market: Overview

Diabetes is a collection of metabolic illnesses in which a person's blood sugar levels are elevated due to insufficient insulin production, improper cell response to insulin, or both or neither of these factors. To diagnose a patient, blood samples are typically drawn from them. This technique can result in needle-stick injuries, leading to several infections and suffering. People are using non-invasive, needle-free diabetic products as a result. During the projected period, an expanding patient population with diabetes and a rising prevalence of type 1 diabetes are expected to propel market expansion. Traditionally, patients with type 1 diabetes who need frequent glucose testing use needles, which raises the risk of infection and discomfort for people. The use of needle-free equipment reduces delivery discomfort and infection risk. Therefore, it is anticipated that there will be an increase in demand for these devices during the forecast period. Additionally, the industry has been driven by rising demand and technological developments in pain-free drug transportation and self-administration. However, the high cost of the facility and worries about technical difficulties are the factors anticipated to restrain the market's expansion for needle-free diabetes care.

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Key Industry Insights & Findings of the Needle-Free Diabetes Care Market Reports:

• As per the analysis shared by our research analyst, the Needle-Free Diabetes Care Market is expected to grow annually at a CAGR of around 6.7 % (2022-2028).
• Through the primary research, it was established that the Needle-Free Diabetes Care Market was valued at approximately USD 9.1 billion in 2021 and is projected to reach roughly USD 13.4 billion by 2028.
• One of the key factors propelling the expansion of the needle-free diabetes care market is the development of transdermal patches that measure blood sugar levels through the skin without extracting blood.
• North America held a monopoly on the global needle-free diabetes care market in 2021. The significant market growth in North America is mainly due to the increased number of diabetics and the availability of technologically improved equipment.
• The North America region dominance in the international arena has been aided by a high level of awareness regarding the potential advantages of needle-free drug delivery devices.
• The market is expanding due to the availability of highly developed healthcare facilities and significant R&D spending by government agencies and pharmaceutical corporations to treat diabetes.

Zion Market Research published the latest report titled "Needle-Free Diabetes Care Market By Devices Types (Treatment Devices and Diagnostic Devices), By Treatment (Oral Insulin, Inhaled Insulin, Insulin Patch, and Others), By Application (Insulin Delivery and Other), By End-User (Diagnostic Centers, Hospitals & Clinics, and Others), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028." into their research database.

Industry Dynamics:

Needle-Free Diabetes Care Market: Growth Drivers

• Increasing diabetes prevalence drives global needle-free diabetes care market growth.

Diabetes is anticipated to be the sixth most significant cause of death by 2030, according to the WHO. Stress, sedentary habits, poor diets, and obesity are the main diabetes risk factors. Physiological changes brought on by aging play a sizable role in diabetes risk. For instance, the International Diabetes Federation claims that the prevalence of diabetes rises with age. Therefore, those over 65 years old are thought to have the highest estimated risk of diabetes. Adults aged 20 to 24 had the lowest prevalence of diabetes (2.2% in 2021). Diabetes prevalence is at 24.0% among persons aged 75 to 79 as of 2021 and expected to rise to 24.7% by 2045. According to these figures, most diabetes will significantly grow over the next 25 years in nations with substantial geriatric populations. Therefore, it is anticipated that the need for needles less diabetes management solutions will be driven by the growing elderly population and the population's increased exposure to leading risk factors.

Needle-Free Diabetes Care Market: Restraints

• More people using traditional diabetes management tools restraints the market demand.

Patients still favor conventional diabetes management strategies in various geographical areas. With their low cost and lack of information about linked devices and apps, many patients reject advanced platforms in favor of traditional blood glucose readers, glucose strips, insulin injections, prefilled syringes, and medication therapy. The limited knowledge for managing diabetes in various nations has also impacted the acceptance of cutting-edge technologies. The use of needle-less diabetes management has been negatively affected in Asia, the Middle East, and Africa due to low awareness, a lack of educated staff, and unfavorable/minimal reimbursements. The market expansion in China and India is also being constrained by the reliance on complementary traditional diabetes control techniques like herbal medications.

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Global Needle-Free Diabetes Care Market: Segmentation

• The global needle-free diabetes care market is segregated based on device types, treatment, application, end users, and region.

By treatment, the market is divided into oral insulin, inhaled insulin, insulin patch, and others. With its outstanding efficiency, the insulin patch segment was shown to have the fastest expanding market share in 2021. The significant growth rate can be ascribed to elements like the rising incidence of diabetes and growing public knowledge of sophisticated patch pumps. People with type 1 diabetes prefer insulin patch pumps since they do not need to carry an insulin infusion set. Patch pumps are chosen by older and working individuals because of their greater convenience. Patch pumps are generally smaller, more discrete, and easier to use than conventional insulin pumps. These pumps are also more affordable than traditional insulin delivery methods, which boosts demand. Patch pumps use an adhesive coating to bond to the skin and need minimal supervision. These pumps typically come with a blood glucose monitoring system or a continuous glucose monitor.

Based on application, the market is divided into insulin delivery and others. The global needle-free diabetes care market's most popular application area in 2021 was insulin delivery. The enormous population with diabetes drives the demand for insulin delivery devices. Additionally, the widespread use of recently introduced inventive pen devices and portable pumps is being aided by the rising demand for sophisticated insulin delivery systems, which is anticipated to accelerate market expansion.

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List of Key Players in Needle-Free Diabetes Care Market:

• European Pharma Group
• Medical International Technology Inc.
• Antares Pharma Inc.
• Zogenix Inc.
• 3M Company
• Valeritas Inc.
• Endo International plc.
• INJEX Pharma AG
• Bioject Medical Technologies Inc.

Key questions answered in this report:

• What are the growth rate forecast and market size for Needle-Free Diabetes Care Market?
• What are the key driving factors propelling the Needle-Free Diabetes Care Market forward?
• What are the most important companies in the Needle-Free Diabetes Care Market Industry?
• What segments does the Needle-Free Diabetes Care Market cover?
• How can I receive a free copy of the Needle-Free Diabetes Care Market sample report and company profiles?

Report Scope:

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Recent Developments

• In May 2022, Endo International plc announced that its subsidiary Endo Ventures Limited (EVL) had acquired six development-stage, ready-to-use injectable product candidates from Nevakar Injectables Inc., a subsidiary of Nevakar, Inc.

Regional Dominance:

• Growing prevalence of diabetics likely to help North America dominate the global market.

North America held a monopoly on the global needle-free diabetes care market in 2021. The significant market growth in North America is mainly due to the increased number of diabetics and the availability of technologically improved equipment. By 2025, there are likely to be 5 million Canadians living with diabetes, according to the Canadian Diabetes Association. Therefore, it is anticipated that the vast patient population suffering from diabetes and its rising prevalence will spur growth in this area. The region's dominance in the international arena has been aided by a high level of awareness regarding the potential advantages of needle-free drug delivery devices. Additionally, the market is expanding due to the availability of highly developed healthcare facilities and significant R&D spending by government agencies and pharmaceutical corporations to treat diabetes.

Global Needle-Free Diabetes Care Market is segmented as follows:

Needle-Free Diabetes Care Market: By Devices Types Outlook (2022-2028)

• Treatment Devices
• Diagnostic Devices

Needle-Free Diabetes Care Market: By Treatment Outlook (2022-2028)

• Oral Insulin
• Inhaled Insulin
• Insulin Patch
• Others

Needle-Free Diabetes Care Market: By Application Outlook (2022-2028)

• Insulin Delivery
• Other

Needle-Free Diabetes Care Market: By End User Outlook (2022-2028)

• Diagnostic Centers
• Hospitals & Clinics And Other

Needle-Free Diabetes Care Market: By Region Outlook (2022-2028)

North America

• The U.S.
• Canada

Europe

• France
• The UK
• Spain
• Germany
• Italy
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa

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