Numerous factors, like the rising incidence of diabetes, surging aging population, growing healthcare expenditure, growing awareness concerning the issues of safety with needles, and growth and development of advanced needle-free treatment devices, are forecasted to improve the needle-free diabetes management market progress in a CAGR of 17.8% throughout the forecast period (2017-2025). Only at that rate of growth, the marketplace is anticipated to achieve $16,831.5 million by 2025 from $3,830.six million in 2016.
The main factor increasing the needle-free diabetes management market growth prospects may be the growing awareness concerning the safety the process of needles. During insulin administration, a needlestick injuries can result in the transmission of bloodstream-borne pathogens, be responsible for the appearance of various infectious illnesses among medical professionals and patients. As reported by the World Health Organization (WHO), around 16 billion injections are administered yearly. However, all of the syringes aren’t correctly discarded, which results in a huge interest in needle-free diabetes management devices.
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The kind segment from the needle-free diabetes management marketplace is categorized into treatment device (insulin pen & jet injector, insulin patch & pump, and insulin inhaler), diagnostic device, and artificial pancreas. Of these, the therapy device category held the biggest share of the market in 2016, because these products are broadly accustomed to infuse or administer insulin in diabetics. Whereas, the substitute pancreas category is forecasted to record the quickest growth throughout the forecast period because of the truth that it truely does work similarly like a healthy pancreas to watch the bloodstream sugar levels instantly.
Thus , the increase in the attention concerning the issues of safety with needles and also the technological advancements in needle-free diabetes management products are likely to propel the development from the market throughout the forecast period.