According to forecasts, the demand within the self-injection devices market is anticipated to grow a great deal in the years to come. This increase can be attributed to a number of factors as the discussion below explores.
Transferring Responsibility to Individuals
Over the years, there has been a growing consensus among experts and researchers that individuals (patients) need to play a bigger role in managing the different health conditions that they are afflicted with. In this regard, innovation efforts have gone towards developing a variety of products that put patients in the driver’s seat, and those products include self-injection devices. This shift is fueling the growth of the self-injection device industry.
The Growing Incidence of Diabetes
As the world’s population becomes more sedentary and switches to a diet that is high in processed carbs, the number of people suffering from diabetes, especially Type 2 diabetes, is exploding. It is not sustainable for a patient to go to hospital each time they need a shot of insulin, so self-injection device makers have devoted energy towards coming up with a variety of products to make it possible for patients to administer these shots while at home or at their workplaces. The population of diabetics alone has done a lot to boost the self-injection devices industry.
Strides in Cardiovascular Research
A lot of patients suffer from chronic conditions that affect the lungs, heart and liver. The latest research in the cardiovascular field has brought to market several liquid injectables which can help patients to have a better quality of life despite suffering from a chronic heart, liver or lung disease. Many of these remedies can be administered using self-injection devices, and this category of patients is contributing towards the growing demand for these devices.
A Spike in Pediatric Diabetes Cases
It’s worth mentioning here that the rising cases of diabetes among children is a major factor worthy of mention beyond lumping them together with the adult population. When a kid develops diabetes, that child is likely to depend on insulin injections for the rest of their life, and the advances in the treatment of this disease mean that we are looking at decades of this individual needing self-injection devices. As any pharmaceutical company will tell you, the repeated use of a treatment modality for years drives market growth, and kids with diabetes are exerting an influence in the growth of the self-injection devices market.
As societies transform, new healthcare challenges are emerging and the existing remedies may not be able to cope. These new realities could explain why players in the biomedical field, such as Genprex Inc. (NASDAQ: GNPX), are working round the clock to develop new technologies that respond to the evolving challenges of managing contemporary diseases.
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