The most recent study conducted by Report Ocean, titled “Global Needle-free Diabetes Care Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Needle-free Diabetes Care . The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global Needle-free Diabetes Care Market Size study, by Devices Types (Treatment Devices, Diagnostic Devices) by Treatment (Oral Insulin, Inhaled Insulin, Insulin Patch, Others) by Application (Insulin Delivery, Other), by End Users (Diagnostic Centers, Hospitals & Clinics, Other) and Regional Forecasts 2022-2028Global Needle-free Diabetes Care Market is valued approximately USD $ billion in 2021 and is anticipated to grow with a healthy growth rate of more than $ over the forecast period 2022-2028. Needle-free Diabetes Care is a cutting-edge technology that is currently being developed. And this device will allow the people with diabetes to measure the level of blood sugar without having to stick needed in the fingertip.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
Continuous glucose monitors and insulin pumps are the finest choices available today for automating the majority of the complicated daily process of blood sugar management. The increasing prevalence of diabetes, increasing geriatric population and strategic development between hospitals has led the adoption of Needle-free Diabetes Care across the forecast period. According to International Diabetes Federation, total adult population in Spain is 34,538,600 in year 2020 and around 10.5 % of this had diabetes that is 3,619,100 adults had diabetes. Also, with the increasing prevalence of geriatric population, the adoption & demand for Needle-free Diabetes Care is likely to increase the market growth during the forecast period. However, high cost associated with the facility impedes the growth of the market over the forecast period of 2022-2028.
The key regions considered for the Global Needle-free Diabetes Care Market study includes Asia Pacific, North America, Europe, Latin America and Rest of the World. Because of the huge diabetic population, changing lifestyles, rising healthcare costs, and an increase in the number of obese persons, North America dominates the Needle-free Diabetes Care industry. Because of the increasing government funding for diabetes management in the region, Asia-Pacific is predicted to expand at the quickest rate throughout the forecast period of 2022 to 2028.
Major market player included in this report are:
Bioject Medical Technologies Inc.
Valeritas, Inc.
Antares Pharma
Endo International plc
InsuJet
PharmaJet
PenJet
INJEX
Technologies Medicales Internationales (MIT Canada) Inc.
Needle Free Injection System
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Devices Types:
Treatment Devices
Diagnostic Devices
By Treatment:
Oral Insulin
Inhaled Insulin
Insulin Patch
Others
By Application:
Insulin Delivery
Other
By End Users:
Diagnostic Centers
Hospitals & Clinics
Other
By Region:
North America
U.S.
Canada
Europe
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UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Russia-Ukraine War on Market
The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023.
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.
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