Diabetes is a chronic disease that occurs either when the pancreas does not produce enough insulin or when the body cannot effectively use the insulin it produces. Insulin is a hormone that regulates blood sugar. Hyperglycemia, or raised blood sugar, is a common effect of uncontrolled diabetes and over time leads to serious damage to many of the body’s systems, especially the nerves and blood vessels.
The rising diabetic population, obesity, and sedentary lifestyle are some of the major factors driving this market’s rise. In addition, advancements in human glucose monitoring and insulin delivery systems, innovations in insulin delivery system techniques, and healthy reimbursement policies, rising awareness among the population about diabetes control and accessibility to insulin delivery systems, and rising awareness among the population about diabetes control and accessibility to insulin delivery systems are all factors ensuring the growth of the diabetes care devices market. The prevalence of diabetes for all age-groups worldwide was estimated to be 2.8% in 2000 and 4.4% in 2030. The total number of people with diabetes is projected to rise from 171 million in 2000 to 366 million in 2030.
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According to UnivDatos Market Insights (UMI)’ research report “Diabetes Care Devices Market”, the market is expected to witness a CAGR growth of around ~6% during the forecast period 2021-2027F. Global Diabetes Care Devices Market is experiencing significant owing to growth in diabetic population, aging, urbanization, and increasing prevalence of obesity and physical inactivity. In addition, advancements in human insulin delivery systems, innovations in insulin delivery system techniques, and healthy reimbursement policies, rising awareness among the population about diabetes control and accessibility to insulin delivery systems, and rising awareness among the population about diabetes.
Based on Type, the market is segmented into Monitoring Devices (Self-monitoring Blood Glucose, Glucometer Devices, Test Strips, Lancets), Continuous Glucose Monitoring (Sensors, Durables), Management Devices (Insulin Pumps, Insulin Pump Device, Insulin Pump Reservoir, Infusion Set), Insulin Syringes, Insulin Cartridges, Disposable Pens, Jet Injectors. The Monitoring Devices segment leads the Diabetes Care Devices Market. Self-monitoring Blood Glucose are growing in popularity, and many people with diabetes nowadays use a SMBG devices as it allows more simple and accurate results instantly.
Based on End-User, the Diabetes Care Devices market is segmented into Patients/Homecare and Hospitals & Clinics. The patients/homecare segment commanded the largest share of the diabetes care devices market and is expected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the increasing diabetic population and rising healthcare expenditures.
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North America to Grab Lion’s Share
North America currently owns the maximum market share in the Diabetes Care Devices market. The market was dominated by North America. The rising prevalence of diabetes and favourable reimbursement scenario in the United States and Canada, growing venture capital investments and IPOs in the United States, and FDA approvals to increase the commercial availability of glucose monitoring and insulin delivery devices in the United States all contribute to this region’s large share. However, Asia-Pacific region is expected to grow with the highest CAGR over the forecast period.
According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Diabetes Care Devices Market are includes Medtronic, DexCom, Inc., F. Hoffmann-La Roche AG, Novo Nordisk A/S, Johnson & Johnson, Abbott Laboratories, Becton, Dickinson and Company, Tandem Diabetes are, Inc., Ascensia Diabetes Care Holdings AG, B. Braun Melsungen AG, etc.
- In June 2020: Tandem Diabetes Care and Abbott announced an agreement to develop and commercialize integrated diabetes solutions that combine Abbott’s continuous glucose monitoring (CGM) technology with Tandem’s innovative insulin delivery systems, giving people more options for managing their diabetes.
“Diabetes Care Devices Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor’s capabilities on different parameters. This will help companies in the formulation of go to market strategies and identifying the blue ocean for its offerings.
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Market Segmentation:
- By Type [Monitoring Devices (Self-monitoring Blood Glucose (Glucometer Devices, Test Strips, Lancets), Continuous Glucose Monitoring (Sensors, Durables), Management Devices [Insulin Pumps (Insulin Pump Device, Insulin Pump Reservoir), Infusion Set, Insulin Syringes, Insulin Cartridges, Disposable Pens, Jet Injectors]
- By End-User (Patients/Homecare, Hospitals & Clinics)
- By Region [North America (United States, Canada, Rest of North America), Europe (Germany, France, UK, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), and Rest of World)]
- By Company (Medtronic, DexCom, Inc., F. Hoffmann-La Roche AG, Novo Nordisk A/S, Johnson & Johnson, Abbott Laboratories, Becton, Dickinson and Company, Tandem Diabetes are, Inc., Ascensia Diabetes Care Holdings AG, B. Braun Melsungen AG)
Key questions answered in the study:
- What are the current and future trends of the Diabetes Care Devices Sector?
- How the industry has been evolving in terms of consumer demand and product category?
- How the competition has been shaping across the countries followed by their comparative factorial indexing?
- What are the key growth drivers and challenges for the Diabetes Care Devices Sector?
- What is the customer orientation, purchase behavior, and expectations from the Diabetes Care Devices suppliers across various countries?
Table of Content –
1 MARKET INTRODUCTION
2 RESEARCH METHODOLOGY OR ASSUMPTION
3 MARKET SYNOPSIS
4 EXECUTIVE SUMMARY
5 DIABETES CARE DEVICES MARKET COVID-19 IMPACT
6 DIABETES CARE DEVICES MARKET REVENUE, 2019-2027F
7 MARKET INSIGHTS BY TYPE
8 MARKET INSIGHTS BY END-USER
9 MARKET INSIGHTS BY REGION
10 DIABETES CARE DEVICES MARKET DYNAMICS
11 DIABETES CARE DEVICES MARKET OPPORTUNITIES
12 DIABETES CARE DEVICES MARKET TRENDS
13 DIABETES CARE DEVICES & REGULATORY FRAMEWORK
14 DEMAND AND SUPPLY SIDE ANALYSIS
15 VALUE CHAIN ANALYSIS
16 COMPETITIVE SCENARIO
17 COMPANY PROFILED
18 DISCLAIMER
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