Global Insulin Storage Devices Market Size, Share, Growth Analysis, By Product(Insulated Kits, Insulin Cooling Wallets), By Patient(Type 1 Diabetes, Type 2 Diabetes) - Industry Forecast 2024-2031

Report ID: SQMIG35A2495 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 64 | Figures: 75

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Global Insulin Storage Devices Market size was valued at USD 870 Million in 2022 and is poised to grow from USD 941.34 Million in 2023 to USD 1768.34 Million by 2031, at a CAGR of 8.20% during the forecast period (2024-2031).

The competitive landscape of the global insulin storage devices market is characterized by a blend of established healthcare companies, innovative startups, and technological pioneers. Key players in the market include prominent medical device manufacturers, pharmaceutical companies, and specialized firms dedicated to diabetes management solutions. These industry leaders leverage their extensive expertise, distribution networks, and research capabilities to offer a diverse range of insulin storage devices that cater to the evolving needs of patients. 'ReadyCare, LLC (USA)', 'DISONCARE (China)', 'Medicool (China)', 'Tawa Outdoor (China)', 'Cooluli (France)', 'Arkray, Inc. (Japan)', 'Zhengzhou Olive Electronic Technology Co., Ltd. (China)', 'Zhengzhou Defrigus Electric Device Co., Ltd. (China)', 'COOL Sarl-FR (France)', 'AfriMedix (South Africa)', 'Insulet Corporation (USA)', 'BD (USA)', 'Medtronic (Ireland)', 'Novo Nordisk (Denmark)', 'Sanofi (France)', 'Roche (Switzerland)', 'Ypsomed (Switzerland)', 'Terumo (Japan)', 'Abbot Diabetes Care (USA)', 'Nipro Corporation (Japan)'

The increasing global incidence of diabetes, particularly type 1 and type 2, is a primary driver for insulin storage devices as these devices are essential for effective insulin management.

Smart and Connected Devices: The integration of IoT technology is leading to the development of smart insulin storage devices that offer features like temperature monitoring, reminders, and connectivity with smartphones.

Notably, North America commands a prominent position in the market due to its substantial patient base and favorable reimbursement policies. The region secured a substantial market share of 45.67% in 2022. This is underpinned by Canada's noteworthy contribution, where over 3 million individuals are grappling with diabetes, with the prevalence rate growing by approximately 3.3% annually, accounting for the elderly population. Furthermore, escalating healthcare expenditures by consumers in North America are propelling market growth.

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Global Insulin Storage Devices Market Size, Share, Growth Analysis, By Product(Insulated Kits, Insulin Cooling Wallets), By Patient(Type 1 Diabetes, Type 2 Diabetes) - Industry Forecast 2024-2031

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