The Global Diabetes Care Devices Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape etc. According to the report the Global Diabetes Care Devices Market is estimated to be $17.26 USD billion and predicted to rise to $22.8 USD billion with a CAGR of 5.73%. The market is segmented by Diabetes Monitoring Devices (Blood Glucose Monitoring Devices, Test Strips, Lancets and Hemoglobin A1c Testing Kits, Continuous Glucose Monitoring Devices), Insulin Delivery Devices (Insulin Pens, Insulin Pumps, Jet Injectors and Insulin Syringes), and Diabetes Control Solutions. Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
According to the statistics, in 2015, 415 million people are affected by diabetes. By 2040, this number is expected to hike up around 642 million people getting affected by diabetes, due to the increasing prevalence of chronic diseases world-wide. as a result of globalization and urbanization, people started resorting to sedentary lifestyle leading to various chronic diseases. Increase in obesity especially among younger people has led to the higher incidence of adult-onset or type-2 diabetes. Due to this, the market is greatly driven with increasing number of diabetes patients’ demand for diabetes care devices. But high cost of diabetes care devices and availability of alternative treatments can constrain the market growth.
The Global diabetes care device market is segmented by type and by country. By type the market has been segmented in to Insulin delivery devices, Diabetes monitoring devices and Diabetes Control Solutions. The products in each of these segments are segregated in the following way: Diabetes Monitoring Devices (Self-blood Monitoring Devices: Blood Glucose Monitoring Devices, Test Strips, Lancets and Hemoglobin A1c Testing Kits; Continuous Glucose Monitoring Devices), Insulin Delivery Devices (Insulin Pens, Insulin Pumps, Jet Injectors and Insulin Syringes) and Diabetes Control Solutions.
The testing strips segment accounts for the largest share of the blood glucose monitoring devices market and the insulin pens segment accounts for the largest share of the insulin delivery devices market. The increasing adoption of insulin is contributing to the growth of this segment. Continuous blood glucose monitoring systems is the fastest-growing sub-segment of the blood glucose monitoring devices market.
Geographically Global diabetes care devices market has been segmented into North America, Asia-Pacific, Europe, and Rest of the World. North America holds the largest share following Europe and Asia-Pacific. The Asia-Pacific region provides significant opportunities for the diabetes care devices with China and India being the most populous countries in this region, where there is a very high incidence of diabetes and other chronic diseases. There is a great scope for the companies to expand its market in the merging and untapped regions. With most of the companies in North America mainly focused on R & D, they have a great scope through new product launches. The market is mainly dominated by companies like Roche Diagnostics, Johnson & Johnson, Abbott Laboratories, Becton-Dickinson and Novo Nordisk, Ypsomed AG, Medtronic plc, Insulet Inc. Terumo Corporation, Dexcom, Inc. (U.S.), and Tandem Diabetes Care, Inc.
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