Market Insights
This report, titled “Needle-Free Diabetes Management Market,” studies various device types such as treatment devices, diagnostic devices, and artificial pancreas that are respectively sub-segmented. According to the International Diabetes Federation, in 2015, one in 11 adults had diabetes, and by 2040, it is expected that one in 10 adults will have diabetes. The data suggests that in 2015, every six seconds, one person died from diabetes. Thus, diabetes management is one of the most crucial parts of preventing the life-threatening effects of this disease. The ongoing research and development activities in the field of diagnosis and treatment of diabetes are expected to change the market’s aspect in the coming years.
For the purpose of this study, the global market for needle-free diabetes management is segmented on the basis of device type into treatment devices, diagnostic devices, and artificial pancreas. Treatment devices comprise insulin pens, pumps and patches, inhalers, and jet injectors. Diagnosis devices are further sub-segmented as continuous glucose monitoring (CGM) devices and flash glucose monitoring (FGM) systems. Market size estimates and forecasts for these segments for the period 2013–2022 are provided in terms of USD million, along with the respective compounded annual growth rates (CAGRs) for the period 2016–2022, considering 2015 as the base year.
The needle-free diabetes management market has been geographically categorized into major regions such as North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. Each geography market is further split to provide market revenue for select countries such as the U.S., Canada, the U.K., Germany, China, Japan, Brazil, and the GCC countries. The market size and forecast for these segments during 2013–2022 and their CAGRs for the period 2016–2022 are provided in this report.
The major key players profiled in the needle-free diabetes management market are based on various characteristics such as business description, financial health, budget allocation, product portfolio, and news coverage. The key players profiled in this report are Zogenix, Inc., 3M, Antares Pharma Inc., Glide Pharmaceutical Technologies Ltd., Injex Pharma AG, Pharmajet, Inc., Bioject Medical Technologies, Inc., Medtronic, Inc., Johnson & Johnson, Inc., Pancreum LLC, Tandem Diabetes Care, Inc., JDRF, and Akra Dermojet.
Based on the type of devices, the global needle-free diabetes management market is segmented as follows:
Treatment Devices
- Insulin jet injector
- Insulin Pen
- Insulin Inhaler
- Insulin Patch and Pump
Diagnostic Devices
- Continuous Glucose Monitoring (CGM) System
- Flash Glucose Monitoring (FGM) System
- Artificial Pancreas
In the base year of 2015, insulin patches and pumps were observed as the fastest-growing segment in the treatment devices segment due to their high efficiency, patient convenience, and rising public awareness related to the novel needle-free treatment devices. Insulin pens and jet injectors collectively accounted for the largest market share of around 51% of the overall needle-free diabetes treatment market as they are one of the most initial treatment solutions available in the market, have achieved high market penetration to date, and have high public awareness related to the products.
Flash glucose monitoring systems are considered the most novel diabetes monitoring devices after CGM. Abbott Laboratories introduced the first flash glucose monitoring system, FreeStyle Libre, to the market in February 2016, which received the European CE mark. The FreeStyle Libre flash glucose monitoring system, which is available in several European countries, is designed to change how people with diabetes measure their glucose levels and ultimately help them achieve better health outcomes. The system reads glucose levels through a sensor that is worn on the back of the upper arm for up to 14 days, eliminating the need for routine finger pricks. In addition, no finger prick calibration is considered a key differentiating property compared to current continuous glucose monitoring systems.
An artificial pancreas system comprises a continuous glucose monitor (CGM) and a continuous subcutaneous insulin infusion pump, both of which are available on the market today, and a controller linking the monitor and pump and running a highly sophisticated algorithm to determine the appropriate amount of insulin to deliver and the timing for that delivery based on evaluation of real-time glucose readings. Such systems are expected to mimic the functions of a healthy pancreas by blending continuous glucose monitoring, remote-controlled insulin pumps, and artificial intelligence to maintain healthy blood sugar levels automatically.
For the purpose of this study, the global market for needle-free diabetes management is categorized into three segments:
- North America
- Europe
- Asia Pacific
- Latin America (LATAM)
- Middle East and Africa (MEA)
In the base year 2015, North America was observed as the largest and most potential regional market for the needle-free diabetes management market. North America comprises the regional markets of the U.S. and Canada, and the rising prevalence of diabetes is the major driver for the growth of the needle-free diabetes management market in North America. The developed healthcare infrastructure, high public awareness related to diabetes management, and rising research and development activities related to diabetes management are the key factors assisting the growth of the North American needle-free diabetes management market. According to International Diabetes Federation (IDF) reports, approximately 382 million people globally were diagnosed with diabetes in 2013, and this number is expected to grow to 592 million by 2035.
Asia Pacific is expected to be the fastest-growing regional market for needle-free diabetes management by 2022. Over the next six years, the growth of the market in the Asia-Pacific region is likely to be centered in Japan, South Korea, China, and India. Numerous factors, such as the developing economic landscape and industrialization, increasing disposable incomes, growing public awareness related to diabetes management, and mounting diagnostic rates that provide favorable environments for glucose monitoring devices, are expected to contribute significantly to the growth of the Asia-Pacific market.
