Insulin Syringes Market to Reach $2.40 Bn, Globally, by 2030 at 4.4% CAGR: Allied Market Research

The increasing prevalence of diabetes, the increase in the elderly population, and the rise in healthcare spending have boosted the growth of the global insulin syringes market.

Portland, ore.And January 20 2022 /PRNewswire/ – Allied Market Research recently published a report titled, Insulin syringes market Depending on volume of syringe (3/10 cc syringe (0.3 mL), 1/2 cc syringe (0.5 mL), 1 cc syringe (1 mL), etc.), disease (type 1 and type 2 diabetes mellitus), used Final (hospitals and clinics, home care settings, etc.): Analysis of global opportunities and industry forecasts, 2021-2030″. As per the report, the global Insulin Syringes industry has been linked with 1.56 billion dollars In 2020, it is expected to reach $2.40 billion By 2030, at a compound annual growth rate of 4.4% from 2021 to 2030.

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The main determinants of market growth

The increasing prevalence of diabetes, the increase in the elderly population, and the rise in healthcare spending have boosted the growth of the global insulin syringes market. However, the high price of insulin and the availability of alternative methods of insulin delivery are hampering market growth. On the contrary, the high growth potential of developing countries is expected to open up new opportunities for market players in the future.

Covid-19 scenario:

  • The Covid-19 pandemic has led to closures and social distancing measures in many countries. The shutdown disrupted the supply chain, production and distribution.

  • Patients with high blood pressure and diabetes are more susceptible to infection with the virus. Thus, the demand for insulin administration rose during the pandemic.

Type 2 diabetes segment shows highest compound annual growth rate until 2030

By disease, the type 2 diabetes segment is estimated to depict the highest compound annual growth rate of 4.9% over the forecast period. In addition, this segment occupied the largest share in 2020, accounting for nearly three-fifths of the market, due to the rise in the incidence of type 2 diabetes worldwide. The research also analyzes the segment of type 1 diabetes.

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The clinics sector dominated the market

By end user, the hospital and clinic segment captured the largest share in 2020, contributing nearly half of the market. In addition, the sector is expected to show the highest compound annual growth rate of 5.3% during the forecast period, due to the high prevalence of chronic diseases such as diabetes and the increasing elderly population. The report also analyzes sectors including home care and others.

North America He got the lion’s share

By region, market via North America It held the largest share in 2020, accounting for nearly two-fifths of the market. This is due to high spending on research and development, well-established healthcare infrastructure, presence of key players and availability of their products. However, the market across Asia Pacific It is expected to register the highest compound annual growth rate of 6.5% during the forecast period, due to improvement in research and development facilities, rapidly developing economic conditions, and disposable income.

The main players in the market

  • Novo Nordisk A/S

  • Abbott Laboratories

  • Biocon Ltd.

  • Cardinal Health Inc.

  • Company Terumo

  • Eli Lilly and Company

  • Becton & Dickinson Corporation

  • Nipro Medical Corporation

  • Medline Industries

  • hindustan syringe and medical devices ltd.

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“We have also published a few common market studies in the same field that may interest you. Below is the title of the report for your reference., considering the impact of Covid-19 on this market which will help you to assess the after effects of the pandemic on the short term and long term growth trends of this market. “

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Allied Market Research (AMR) is a full-service market research and business consultancy of Allied Analytics LLP, headquartered in Portland, Oregon. Allied Market Research provides global organizations as well as medium and small businesses with unparalleled quality of Market Research Reports and Business Intelligence Solutions. AMR has a targeted viewpoint to provide business insights and consultancy to help its clients make strategic business decisions and achieve sustainable growth in their market space.

pawan kumar, CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional institutional relationships with many companies and this helps us extract market data that helps us in creating accurate research spreadsheets and assures the utmost accuracy in our market forecasts. All data presented in the reports published by us are extracted through preliminary interviews with senior officials of the leading companies in the respective field. Our methodology for acquiring secondary data includes in-depth online and offline research and discussions with industry knowledgeable professionals and analysts.

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