(MENAFN- GlobeNewsWire - Nasdaq)
Seoul, South Korea, Aug. 02, 2022 (GLOBE NEWSWIRE) -- Sales of insulin storage devices across the world are predicted to increase at a CAGR of 8.1% across the forecast period (2022-2027). In 2022, the global insulin storage devices market accounts for a revenue of US$ 798 million and is predicted to reach US$ 1.28 billion by the end of 2027. Fact.MR, a market research and competitive intelligence provider, has discussed all the key trends, restraints, and opportunities governing market growth, in this latest insulin storage devices market research study.
Poor eating habits and increasingly sedentary lifestyles have led to an increased prevalence of lifestyle disorders, of which, diabetes is a particularly concerning one. Over the past few years, the incidence of diabetes has risen rapidly and is projected to increase faster going forward. This is expected to drive the use of insulin among diabetic patients and subsequently increase the usage of insulin storage devices through 2027.
For Critical Insights on Insulin Storage Devices Market, Request a Sample Report
Insulin storage device manufacturers are expected to focus on the expansion of their product portfolios by launching new products to gain a competitive edge over their competitors.
- In July 2022, Godrej Appliances, an Indian multinational conglomerate, announced the launch of a new product range to provide new cooling solutions for insulin storage. Godrej InsuliCool and Godrej InsuliCool+ were launched to provide diabetic patients with better storage for their insulin.
Which Product Type is S et to Be Highly Sought-after across Geographies?
“Battery-operated Insulin Devices to Account for Major Market Share”
The global insulin storage devices market based on product type is segmented into insulated kits and battery-powered insulin storage devices. The insulated kits segment is further bifurcated into insulin cooling wallets, insulin cooling pouches, and insulated cooler bags.
Battery-powered insulin devices hold a prominent market share and are expected to maintain a similar stance across the forecast period as well. Benefits such as longer battery life, portability, and ease of use are expected to bolster demand for battery-powered insulin devices through 2027.
Insulated kits are anticipated to witness an increase in demand at an approximate CAGR of 7% across the forecast period. The rising geriatric population is anticipated to drive sales of insulated cooling wallets, insulated cooling pouches, etc. over the coming years.
To learn more about Insulin Storage Devices Market, you can get in touch with our Analyst at
Key Segments Covered in the Insulin Storage Devices Industry Survey
- By Product Type :
- Insulated Kits
- Insulin Cooling Wallets
- Insulin Cooling Pouches
- Insulin Cooling Bags
- Battery-operated Insulin Storage Devices
- By Patient Type :
- Type 1 Diabetes
- Type 2 Diabetes
- By Region :
- North America
- Latin America
- East Asia
- South Asia & Oceania
Insulin storage device manufacturers are anticipated to increase investments in product development and launch new products to expand their sales potential. Insulin storage device companies are also expected to adopt innovative marketing strategies to increase awareness about diabetes and bolster sales of insulin storage devices through 2027.
This latest insulin storage devices market survey by Fact.MR, a market research and competitive intelligence provider, consists of key companies such as ReadyCare LLC, DISIONCARE, Medicool, Tawa Outdoor, Cooluli, and Arkray Inc., among others, to give a comprehensive account of the global competitive landscape.
Get Customization on Insulin Storage Devices Market Report for Specific Research Solutions
Key players in the Insulin Storage Devices Market
- ReadyCare LLC
- Tawa Outdoor
- Arkray Inc.
- Zhengzhou Olive Electronic Technology Co. Ltd.
Key Takeaways from Insulin Storage Devices Market Study
- The global insulin storage devices market is currently valued at US$ 798 million.
- Sales of insulin storage devices are expected to increase at 8.1% CAGR through 2027.
- By 2027, the insulin storage devices market is expected to reach US$ 1.28 billion.
- Rising geriatric population, increasing awareness about diabetes, growing consumption of refined & processed foods, and rising prevalence of lifestyle disorders are key factors that are expected to increase the need for insulin storage systems.
- Demand for insulin storage devices in Germany is predicted to increase at a CAGR of 5% from 2022 to 2027.
- The China insulin storage devices market is projected to reach US$ 285 million by the end of 2027, expanding at a high CAGR of 12%.
Fact.MR's Domain Expertise in Healthcare Sector
Our healthcare consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the healthcare sector. Our expertise in recognizing the challenges and trends impacting the global healthcare industry provides indispensable insights and support - encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
Explore Fact.MR's Coverage on the Healthcare Domain-
Healthcare Contract Research Organization Market - The global sales of healthcare contract research organization garnered a market value of US$ 44 Billion in 2022 and is expected to register a CAGR of 6% by accumulating a market value of US$ 79 Billion through the assessment period 2022-2032.
Parenteral Nutrition Market - The industry is expected to reach US$ 7 Billion by 2022-end, experiencing Y-o-Y increase of 16% compared to 2021. From 2022-2032, the industry is forecast to increase 2x to reach US$ 14 Billion.
Biotechnology & Pharmaceutical Services Outsourcing Market - The global biotechnology and pharmaceutical services outsourcing market is anticipated to hold a market value of US$ 70 Billion in 2022 and US$ 112.31 Billion by 2032.
Electronic Health Records Market - The electronic health records market is expected to garner a market value of US$ 26.78 Billion in 2022, anticipated to register a positive CAGR of 4.5% in the forecast period 2022-2032 and reach a value of US$ 41.8 Billion .
Veterinary Artificial Insemination Market - The veterinary artificial insemination market is forecast to garner a market value of US$ 3.16 Billion in 2022, anticipated to register a positive CAGR of 5.2% in the forecast period 2022-2032 and reach a value of US$ 5.24 Bn.
Amniotic Membrane Market - The global amniotic membrane market is estimated to hold a value of US$ 11.12 Billion in 2032 and is expected to expand at a CAGR of 14% during the forecast period from 2022 to 2032.
Drug Delivery Systems Market - The worldwide drug delivery systems market was worth around US$ 40 Billion in 2022 and is expected to grow at a CAGR of more than 7.8% from 2022 to 2032, reaching roughly US$ 80 Billion by 2032.
Medical Waste Management Market - The global medical waste management market, which projects market growth at a CAGR of 6.2% from 2021 to 2028. Revenue from medical waste management services accounted for US$ 15.3 Billion in 2020, and is estimated to surge to US$ 25.2 Billion by the end of 2028.
Heart Attack Diagnostics Market - The heart attack diagnostics market is predicted to grow at a moderate CAGR of 7.1% during the forecast period of 2022 to 2032. The global heart attack diagnostics market is estimated to reach a value of nearly US$ 22.2 Billion by 2032 by growing from US$ 10.4 Billion in 2021.
Drug Discovery Services Market - The drug discovery services market is forecasted to reach US$ 50 Billion by 2032, up from US$ 19 Billion in 2022, at a CAGR of 10.1%. A Y-o-Y growth rate of nearly 12% is expected for the market in 2022. As of 2021, the market was valued at US$ 17 Billion.
Market research and consulting agency with a difference! That's why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we'll be an able research partner.
US Sales Office:
11140 Rockville Pike
Rockville, MD 20852
Tel: +1 (628) 251-1583
Follow Us: LinkedIn | Twitter
Tags Insulin Storage Devices Market Insulin Cooling Wallets Type 1 Diabetes Insulin Cooling Bags Related Links
- Diabetes Management Software Market By Device (Wearable Devices, Handheld Devices), By Application (Diabetes & Blood Glucose Tracking, Obesity & Diet Management), By End User & Region - Global Forecast 2022 to 2032
- Lab Workflow Solutions Market Analysis By Type (Data Integration Solutions, Real-time Communication Solutions, Workflow Automation Solutions), By End Use (Hospitals, Long-term Care Facilities, Ambulatory Care Centers) & Regional Forecast 2022-2032
- Epistaxis Market Analysis By Product (Vasoconstrictors, Anesthetics, Antibiotic Ointments), By Indication (Posterior, Anterior Epistaxis), By Distribution Channel (Hospitals, Specialty Clinics, Retail Pharmacies), By Region - Global Insights 2022-2032
- Fibrosarcoma Market Analysis by Treatment Type (Chemotherapy, Radiation Therapy, Surgery), by Distribution Channel (Hospital Pharmacy, Retail Pharmacy, E-Commerce), by End-User, by Region - Global Forecast 2022-2032
Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.