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Diabetes Care Devices Market Business Opportunities, Current Trends and Forecast 2027 | key players like BD, Novo Nordisk A/S, B. Braun Melsungen AG, Insulet Corporation, Medtronic

Press release   •   Jun 17, 2019 13:52 IST

Diabetes Care Devices Market Analysis to 2027 Share and Trends

An Excellent and precise Diabetes care devices Market research report serves as a backbone for your business when it comes to thrive in the competition. This market report gives an absolute background analysis of the industry along with an assessment of the parental market. It offers a telescopic view of the competitive landscape to the client so that they can plan the strategies accordingly. Strategic planning helps businesses improve and enhance their products which customers will prefer to buy. Moreover, this market report also provides a detailed overview about product specification, technology, product type and production analysis by taking into account other major factors such as Revenue, Cost, Gross and Gross Margin.

The global diabetes care devices market accounted to US$ 23,354.3 Mn in 2018 and is expected to grow at a CAGR of 6.1% during the forecast period 2019 – 2027, to account to US$ 39,382.3 Mn by 2027.

Asia Pacific is the fastest growing geographic market and it is expected to be the second largest revenue contributor throughout the forecast period. The growth is contributed majorly by driving factors such as significant rise in the prevalence of diabetes across the countries, rise in the government support for the diabetes care. In addition, the market players are also supporting the diabetes care in the countries through creating awareness and various initiatives.

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Strategic Insights

Product launches and up gradation were observed as the most adopted strategy in global diabetes care devices industry. For instance, in March 2019, Tandem Diabetes Care, Inc has announced that it is now registered as an approved vendor of insulin pumps and supplies under the Assistive Devices Program (ADP) in Ontario, Canada. Thus, the expansion move by the company is likely to boost up the growth of its own and is likely to contribute to the market in the coming future.

Key Company Profiles

  • BD
  • Novo Nordisk A/S
  • B. Braun Melsungen AG
  • Insulet Corporation
  • Medtronic
  • Tandem Diabetes Care, Inc.
  • Eli Lilly and Company
  • Dexcom, Inc.
  • Terumo Corporation
  • F. Hoffman-LA Roche Ltd.

Market Insights

Increasing Prevalence of Obesity across the Globe

Obesity, sedentary lifestyle and improper diet play a major role in increasing diabetes among the population worldwide. Physical activity is important to maintain the blood glucose level. Lack of exercise and unhealthy diet such as diet high in fat and calories increase the risk for the development of obesity and diabetes. Obesity is one of the major problem and the biggest concern in all the communities across the globe. Currently, more than one in two adults and nearly one in six children are obese. Obesity is one of the major issue affect people of all ages and incomes globally. According to World Health Organization (WHO), in 2016, more than 1.9 billion adults aged 18 years and older were overweight. And out of these over 650 million adults were obese. Therefore, owing to the above mentioned factors the market is likely to fuel its growth during the forecast period.

Growing Medical Tourism In Developing Countries

The emerging markets in the developing countries are the major factor which are giving better opportunity for the major players to expand their business. These are becoming a major reason for the market growth in the forecast period. Most of the market players focus on emerging market such as Asia Pacific due to an increase in the prevalence of diabetes and increasing popularity of diabetes care devices in the region. In India, medical science has growing rapidly as well as big steps forward in past few decades. In India the diabetes treatment has become so popular and common that people from other countries are coming here to get themselves treated. The most possibly and compelling reason of this might be the excessively high expenses for health care causes in their own country. Health travelers who visit developing countries for medical reasons save 65% to 80% on health cost compared to the cost in the US. Thus, the factors are likely to create growth opportunities for the growth of the market in coming years.

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Product Insights

The global diabetes care devices market by product segments was led by glucose monitoring devices segment. In 2018, the glucose monitoring devices held a largest market share of 54.1% of the diabetes care devices market, by product. The glucose monitoring devices segments is also expected to be the fastest growing segments the market in 2027 owing to the presence of the various market players that are offering various products and rise in the technological advancements are likely to propel the growth of the market during the forecast period.

DIABETES CARE DEVICES – MARKET SEGMENTATION

Global Diabetes Care Devices Market – By Product

  • Glucose Monitoring Devices
    • Glucometers
    • Lancets
    • Testing Strips
    • Other Glucose Monitoring Devices
  • Insulin Delivery Devices
    • Insulin Pens
    • Insulin Syringes
    • Insulin Pumps
    • Other Insulin Delivery Devices

Global Diabetes Care Devices Market – By End User

  • Hospitals & Clinics
  • Homecare

By Geography

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • Germany
    • UK
    • Spain
    • Italy
  • Asia Pacific (APAC)
    • China
    • India
    • Japan
    • Australia
    • South Korea
  • Middle East & Africa (MEA)
    • Saudi Arabia
    • South Africa
    • UAE
    • South America (SAM)
    • Brazil
    • Argentina

About Us

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services.

We are committed to providing highest quality research and consulting services to our customers. We help our clients understand key market trends, identify opportunities, and make informed decisions by providing market research solutions at an affordable cost.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Media, Healthcare and Telecommunication industries.

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