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Increasing demand for insulin syringes, due to surge in cases of diabetes and obesity, and rapid rise in incidence of chronic diseases among all age groups are some key factors driving market revenue growth
NEW YORK , May 2, 2022 /PRNewswire/ -- The global insulin syringes market size is expected to reach USD 2.69 Billion in 2030 and register a revenue CAGR of 6.9% during the forecast period, according to latest report by Reports and Data. Increasing demand for insulin syringes, due to surge in cases of diabetes and obesity, and rising prevalence of chronic diseases are key factors expected to drive market revenue growth during the forecast period. Increasing use of portable medical instruments, including insulin syringes, for quicker, easier, and more effective treatment, is expected to support revenue growth of the global market in the near future.
In today's fast-paced and busy world, people prefer to have quick access to health diagnostics and healthcare devices and tools. Insulin syringes are one of those portable tools that are helpful and effective for patients who need regular administration of insulin. It is much easier and more time-efficient to self-inject than visiting a nursing home or hospital for daily insulin doses, which is expected to increase demand for insulin syringes and thus, drive revenue growth of the global market.
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However, concerns regarding high prices of advanced insulin syringes and insulin can restrict market revenue growth during the forecast period. Leading manufacturers, due to increased investments in Research & Development (R&D) and global rise in costs of raw materials, are manufacturing advanced insulin syringes that are costlier than conventional syringes. Moreover, the price hike in insulin vials is not expected to reduce during the forecast period. These factors could hamper revenue growth of the global market over the forecast period.
Some Key Highlights in the Report
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To identify the key trends in the industry, research study at https://www.reportsanddata.com/report-detail/insulin-syringes-market
For the purpose of this report, Reports and Data has segmented the global insulin syringes market based on size, disease, end-use, and region:
Size Outlook (Revenue, USD Billion; 2019-2030)
Disease Outlook (Revenue, USD Billion; 2019-2030)
End-use Outlook (Revenue, USD Billion; 2019-2030)
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Regional Outlook (Revenue, USD Billion; 2019-2030)
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