Diabetes Care Devices Market Research Report
The GMI Research's latest analysis reveals that the Diabetes
Care Devices Market is slated to register a CAGR of 5.6% over the forecast
period. This is mainly attributed to the growing technological advancements and
expenditure on the healthcare industry, followed by the rising cases of
diabetes and obesity.
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Diabetes Care Devices Market’s leading
Manufacturers:
·
Abbott Laboratories
·
Becton Dickinson and Company
·
Bayer Healthcare
·
Roche Holding AG
·
Medtronic plc
·
Dexcom Inc
·
Biotronik SE
·
GlaxoSmithKline
Diabetes Care Devices Market Dynamics (including
market size, share, trends, growth, forecast, and industry analysis)
Key
Drivers
The growing technological advancements and expenditure on
the healthcare industry, followed by the rising cases of diabetes and obesity,
are the key drivers contributing to the growth of the diabetes
care market size. As per the WHO, the prevalence rate of diabetes disease
about 8.5% in 2014 globally. There is a strong prevalence rate for diabetes in
the middle-to low-income economies. In 2015, approximately 1.6 million deaths
were regarding diabetes, and around half of the patients were below the age
group of 70 years. The rising consumption of junk food and alcohol intake is
boosting the growth of diabetes care devices share in terms of revenue worldwide.
The diabetes care device manufacturers majorly emphasize technological
development in the product to deliver more correct results. Rapid product
innovation will bring lucrative opportunities for the market, thus attracting
many consumers to opt for advanced devices. Additionally, the rising disposable
income of middle-class families and increasing urbanization are promoting the
consumers to adopt diabetes care devices for tracking diabetes and regular
self-monitoring. On the other edge, the growing consumer awareness associated
with the side effects regarding some of the diabetes care devices will hinder
the growth of the market over the coming years.
Product
Type Segment Drivers
Based on the product type, the blood glucose monitoring
devices are projected to dominate the market over the coming years due to the
growing modification and technological development in diabetes care devices. It
also offers an exact measurement of the glucose level and provides a warning if
the glucose level goes too high or low. On the other hand, the insulin delivery
devices are anticipated to rise at a higher CAGR over the coming years. This is
mainly due to the strong adoption of these devices among healthcare
professionals and patients as a result of their exceptional benefits like
technologically advanced properties and high stability.
Regional
Drivers
Based on the region, the Asia Pacific is expected to
dominate the market over the coming years due to the growing government and
private funding towards healthcare infrastructure. The increasing population
rate in emerging countries, such as Japan, China, and India, and the rising
consumer awareness associated with the benefits provided by these devices will
further promote the consumers towards the use of diabetes care devices. The
rapid advancement in technologies and the various initiatives taken by the government
to spread awareness will further support the markets' demand.
Diabetes Care Devices Market Segmentation:
Segmentation
by Product Type:
·
Blood Glucose Monitoring Device
·
Insulin Delivery Device
Segmentation
by End-User:
·
Hospitals
·
Homecare Setting
·
Others
Segmentation
by Region:
·
North America
o
United States of America
o
Canada
·
Asia Pacific
o
China
o
Japan
o
India
o
Rest of APAC
·
Europe
o
United Kingdom
o
Germany
o
France
o
Spain
o
Rest of Europe
·
RoW
o
Brazil
o
South Africa
o
Saudi Arabia
o
UAE
o
Rest of the world (remaining countries of the
LAMEA region)
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