Press Release

Insulin Storage Devices Market to grow with a CAGR of 6.09 % through 2028

Rising demand of insulin pumps and initiatives taken by the government are the major drivers for the Global Insulin Storage Devices Market.


According to TechSci Research report, “Global Insulin Storage Devices Market Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2018-2028”, Global Insulin Storage Devices Market has valued at USD 858.12 Million in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 6.09% through 2028.  the Global Insulin Storage Devices Market is anticipated to register a high CAGR during the forecast period. This can be ascribed to collaborations and partnerships among leading companies with a diverse approach to merge the expertise of individual companies and to strengthen their position in the market.


Insulin can be stored in vials for approximately one month at room temperature, after which it should be stored in a pen at room temperature, the expiration date of which may vary depending on the insulin used. With the advent of insulin pumps, there has been a significant increase in the demand for insulin carrying solutions that can be stored for extended periods of time, which is influencing the insulin storage devices market. One of the primary determinants of diabetes is obesity. According to a World Obesity Federation report, an estimated one billion individuals, including one in five women and one in seven men, are projected to be classified as obese by 2030. The consumption of processed and refined foods has had a detrimental effect on consumer health in recent decades.


Diabetes is a condition caused by poor diet and lifestyle habits that interfere with the body’s ability to regulate insulin levels. As a result, it is expected that the increasing prevalence of diabetes will lead to an increase in insulin storage devices demand over the coming years. Insulin is naturally occurring and is used by many diabetics to reduce glucose hormones for blood sugar control. People with type 1 diabetes need additional insulin, which the body is unable to produce. People with type 2 diabetes require insulin when the other medications are not helping them maintain adequate blood sugar control. Insulin storage devices are in high demand due to the high prevalence of diabetes among the elderly worldwide. As the geriatric population increases, so does the need for insulin storage devices, which is projected to increase over the forecast period. The International Diabetes Federation predicts that by 2045, more than 7.0 million adults will have diabetes, representing a 46% increase in the number of adults living with diabetes.


Browse over XX market data Figures and spread through XX Pages and an in-depth TOC on " Global Insulin Storage Devices Market.”


Insulin has always been needed to make sure it's effective and safe. If you don't store your insulin properly, it can break down and lose its ability to keep your blood sugar levels stable and predictable. Having the right insulin storage is important for keeping your insulin working properly. Other factors that contribute to the rise in diabetes cases include the consumption of alcohol and tobacco as well as the high consumption of refined carbohydrates. The main drivers of the market are the increasing incidence of diabetes and the growing use of advanced insulin delivery systems. Additionally, the increasing demand for advanced storage solutions continues to be a major driver of the market. The utilization of proper storage can significantly reduce the cost of treatment by decreasing drug loss. To maintain insulin potency, patients must maintain storage temperature. Currently, storage products are restricted to insulated packages, portable refrigerators, and other storage solutions.


However, the development of intelligent storage systems with features such as temperature warnings, expiration warnings, dose alerts, auto messaging, and more is expected to contribute to the growth of the insulin storage device market over the forecast period. As the number of coronavirus cases around the world continues to increase, medical supplies are becoming increasingly sought after by both healthcare professionals and the public for preventive measures. Consequently, manufacturers of medical supplies have an opportunity to capitalize on the growing demand for personal protective equipment to maintain a sufficient and consistent level of personal protective equipment availability in the market.


However, Global Access and Distribution and Data Privacy and Security are expected to slow down the growth of the market in the coming years.

The Global Insulin Storage Devices Market segmentation is based on Product Type, Patient Type, End User, By Company, and Region.


Some of the major companies operating in the United Global Insulin Storage Devices Market include:

  • Merck & ReadyCare, LLC
  • DISONCARE
  • Medicool Inc.
  • Cooluli, Arkray, Inc.
  • Arkray, Inc.
  • Zhengzhou Olive Electronic Technology Co.
  • Zhengzhou Defrigus Electric Device Co., Ltd
  • COOL Sarl-FR
  • Godrej Appliances


Download Free Sample Report

Customers can also request for 10% free customization on this report.


“Certain areas, particularly in the Northeast, are projected to exert significant demand for Insulin Storage devices globally. The growth in the competitive landscape and the presence of well-established companies in the market, committed to enhance the overall wellbeing of people each year, are expected to contribute to a remarkable growth of the Global Insulin Storage Devices Market in the forecast period," said Mr. Karan Chechi, Research Director with TechSci Research, a research-based Global management consulting firm.


Insulin Storage Devices Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented by Product Type (Battery-Operated Kits, Insulated Kits, Cooling Pouches, Insulated Cooling bags), By Patient Type (Diabetes Type 1, Diabetes Type 2), By End User (Hospitals, Specialty Clinics, Homecare), By Region, Competition
has evaluated the future growth potential of Global Insulin Storage Devices Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide innovative market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Insulin Storage Devices Market.


Contact

Mr. Ken Mathews

708 Third Avenue,

Manhattan, NY,

New York – 10017

Tel: +1-646-360-1656

Email: [email protected]

Website: https://www.techsciresearch.com

Relevant News