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The global insulin storage devices market reached a value of US$ 737 Million in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 8.3% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Insulin is a natural glucose-lowering hormone that is invasively administered to diabetic patients for regulating their blood sugar levels. Insulin storage devices are adopted to maintain the efficacy of insulin and primarily include insulated kits, insulin cooling wallets or pouches, insulated cooler bags, and battery-operated storage devices. Insulin storage devices are widely adopted across clinics, hospitals, academic and research institutes, home-based medical setups, etc.
The high prevalence of diabetes due to hectic consumer lifestyles and unhealthy dietary patterns is primarily driving the market growth. The rising consumer awareness towards the use of insulin in diabetes preventive care is also augmenting the product demand. Moreover, the increasing healthcare expenditures have led to the emergence of advanced insulin storage devices offering high portability and secured handling. These smart insulin storage devices also provide additional features, such as temperature alert, dose reminders, expiry alert, and auto messaging. Moreover, the emergence of virtual training programs for diabetes management coupled with the increasing penetration of cloud-based health tracking solutions is also driving the market growth. Rapid innovations in the sector have also led to the introduction of biochemical sensors, laboratory-on-a-chip, and real-time monitoring technologies, that offer quick detection of insulin levels in the body. The emergence of smart wearables offering point-of-care testing with high diagnostic accuracy and prompt clinical evaluation is also catalyzing the demand for portable insulin storage devices. Furthermore, various technological advancements have led to the emergence of innovative digital diabetes management tools, including smart insulin patches, closed-loop insulin pumps, and advanced insulin pens.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global insulin storage devices market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on product type and patient type.
Breakup by Product Type:
Breakup by Patient Type:
Breakup by Region:
The competitive landscape of the industry has also been examined with some of the key players being Arkray Inc., COOL Sarl, Cooluli, DISONCARE, Medicool Inc., ReadyCare LLC, TAWA Outdoor (Xiamen Tawa Enterprise Co. Ltd.) , Zhengzhou Dison Electric Co. Ltd. and Zhengzhou Olive Electronic Technology Co. Ltd.
|Base Year of the Analysis||2020|
|Segment Coverage||Product Type, Patient Type, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, China, Japan, India, South Korea, Australia, Indonesia, Thailand, Malaysia, Vietnam, Germany, France, United Kingdom, Italy, Spain, Russia, Brazil, Mexico, Argentina, Turkey, South Africa, Saudi Arabia, UAE|
|Companies Covered||Arkray Inc., COOL Sarl, Cooluli, DISONCARE, Medicool Inc., ReadyCare LLC, TAWA Outdoor (Xiamen Tawa Enterprise Co. Ltd.) , Zhengzhou Dison Electric Co. Ltd. and Zhengzhou Olive Electronic Technology Co.|
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