SAN FRANCISCO, May 18, 2020
SAN FRANCISCO, May 18, 2020 /PRNewswire/ -- The global insulin storage devices market size is expected to reach USD 1.3 billion by 2027, registering revenue based CAGR of 7.8% over the forecast period, according to a new report by Grand View Research, Inc. Increasing incidence of diabetes and rising adoption of advanced insulin delivery devices are the key factors driving the market. Rising government initiatives and increasing awareness about insulin storage are also among the major factors contributing to the market growth.
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Read 110 page research report with ToC on "Insulin Storage Devices Market Size, Share & Trends Analysis Report By Devices (Insulated Kits, Battery Operated Devices), By Patient Type (Type 1, Type 2), By Region, And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/insulin-storage-devices-market
A sedentary lifestyle and nutrition transition are some of the major factors leading to increasing cases of obesity, which significantly enhances the risk of diabetes. According to the WHO, in 2016, there were 650 million obese people in the world and this number is expected to rise significantly during the forecast period. Diabetes-related healthcare expenditure, both public and private, is also expected to grow rapidly. According to the International Diabetes Federation, healthcare expenditure due to diabetes is expected to reach 214 billion by 2045. With the increase in diabetes-related healthcare expenditure, the insulin storage devices market is expected to see frequent new product launches and advanced delivery devices thus, boosting the demand for advanced insulin storage solutions.
Grand View Research has segmented the global insulin storage devices market on the basis of product type, patient type, and region:
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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