A recent report published by Infinium Global Research on diabetes devices market provides an in-depth analysis of segments and sub-segments in the global as well as regional diabetes devices market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional diabetes devices market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global diabetes devices market. According to the report, the global diabetes devices market is projected to grow at a CAGR of 6.7% over the forecast period of 2019-2025.
Diabetes is one of the major and pervasive public health issues. The diabetes devices include several devices that help in the monitoring and treatment of diabetic patient’s. Monitoring of glucose levels is an essential part of diabetes management or treatment. These diabetic devices are very beneficial in managing diabetic treatments. Diabetic devices also help in the prevention of diabetic complications. The medical devices used in the diabetic managements include blood glucose meters and strips, continuous glucose monitors (CGMS) insulin pumps, injection pens, and others.
The growing prevalence of diabetes is the key factor that drives the growth of diabetes devices market worldwide. According to the International Diabetic Federation, approximately 425 million adults (20-79 years) were living with diabetes in 2017. The rapidly changing lifestyles, rising occurrence of obesity and high alcohol consumption led to the rapid growth of diabetes all over the world. Thus, this contributes to the growth of diabetic devices market. Additionally, raising awareness about diabetes and diabetes management among patients is anticipated to escalate the growth of the diabetic market in the near future. On the other hand, low awareness about diabetes management and monitoring devices in the under-developed countries are expected to hamper the growth of diabetic device market. Moreover, ongoing technological advancements and the introduction of advanced Insulin Delivery Devices is projected to create several growth opportunities in the diabetic devices market in the near future.
Among the geographies, North America holds the maximum market shares in the diabetes devices market followed by Europe. The U.S. is majorly contributing to the growth of the diabetes devices market in the North America region. The high prevalence of diabetes, increasing obesity and advancements in the insulin delivery systems are driving the growth of North America diabetes device market. The Nation Institute of Diabetes and Digestive and Kidney Diseases estimated that around 23.1 million people in the United States are diagnosed with diabetes. Furthermore, Asia Pacific is the fastest growing region in the diabetes device market owing to the growing awareness and the consumption of diabetic devices.
The report on global diabetes devices market covers segments such as type of devices, and end user. On the basis of the type of devices, the sub-markets include monitoring devices, and treatment devices. On the basis of end user, the sub-markets include diagnostic centers, hospitals, home care, and ambulatory surgery centers.
The report provides profiles of the companies in the market such as Abbott Laboratories, F. Hoffmann-La Roche Ag, Johnson & Johnson (LifeScan, Inc.), DexCom Inc., Bayer Corporation, Arkray, Inc., Sinocare, Inc., Medtronic PLC, Sanofi, Novo Nordisk, Eli Lilly and Company, and Other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of diabetes devices market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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