The Global Insulin Storage Devices Market size is expected to reach $1.1 billion by 2026, rising at a market growth of 8.9% CAGR during the forecast period. Insulin is a naturally occurring, glucose-lowering hormone that is used by many diabetic people to regulate their blood sugar. For people with type 1 diabetes, supplementary insulin compensates for the insulin that the body does not make up. People with type 2 diabetes may need to take insulin if other drugs do not allow them to maintain adequate blood sugar control.
Global Insulin Storage Devices Market Size
All insulins must be carefully stored to ensure they stay safe and effective. Improper storage may cause insulin to break down, disrupting its ability to regulate the blood sugar level efficiently and predictably. Depending on the type of insulin that patients are given, some minor variations that exist in how best to store it and how long it will last until it is opened.
Appropriate insulin storage is important to maintain the efficacy of insulin. In all of Eastern Africa except the southern highlands of Tanzania and the northern part of the region (Sudan, Red Sea, Afar Depression, Northern Somalia), temperatures differ no more than 5 C; giving average room temperatures in most parts of the area between 20-30 C.
Insulin Storage Devices Market Share
The rapid growth of innovation in the fields of chemical and biochemical sensors, laboratory-on-a-chip, mobile technology, and wearable electronics offers an unparalleled opportunity to develop mobile and wearable point-of-care (POCT) self-testing systems. Effective introduction of such POCT technology results in reduced user intervention during service to minimize software errors; user-friendly, easy-to-use and quick detection platforms; high diagnostic accuracy and specificity; prompt clinical evaluation; and low cost of production and consumables.
Based on Product Type, the market is segmented into Battery Operated and Insulated Kits. Based on Insulated Kits Type, the market is segmented into Insulin Cooling Wallets, Insulated Cooler Bags and Insulin Cooling Pouches. Based on Patient Type, the market is segmented into Type 1 Patients and Type 2 Patients. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
Free Valuable Insights: Global Insulin Storage Devices Market to reach a market size of $1.1 billion by 2026
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ReadyCare, LLC, Medicool, Inc., Arkray, Inc., Zhengzhou Dison Electric Co., Ltd., Xiamen Tawa Enterprise Co., Ltd., Cooluli, Zhengzhou Olive Electronic Technology Co., Ltd., COOL Sarl.
Market Segmentation:
By Product Type
By Insulated Kits Type
By Patient Type
By Geography
Companies Profiled
The insulin storage devices market is projected to reach USD 1.1 billion by 2026.
The major factors that are anticipated to drive the insulin storage devices industry include advances in type 1 diabetes technology, the widespread adoption of insulin pumps, and Rising adoption of insulin delivery devices.
ReadyCare, LLC, Medicool, Inc., Arkray, Inc., Zhengzhou Dison Electric Co., Ltd., Xiamen Tawa Enterprise Co., Ltd., Cooluli, Zhengzhou Olive Electronic Technology Co., Ltd., COOL Sarl.
The expected CAGR of insulin storage devices market is 8.9% from 2020 to 2026.
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