The Diabetes Care Devices Market accounted to USD 25 billion in 2016 growing at a CAGR of 8.0% during the forecast period of 2017 to 2024.
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Diabetes Care Devices Market,By Product Type (Blood glucose monitoring devices (testing strips, self-monitoring blood glucose meters, lancets, continuous glucose monitors, and others), Insulin drug delivery devices (insulin syringes, insulin pens, insulin pumps, and insulin jet injectors), By End-Users (Hospitals, Clinics, Home Healthcare, Ambulatory care, Others), By Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa)- Industry Trends and Forecast to 2024
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Diabetes Care Devices are being frequently used for the diagnosis of blood glucose level in the body due to inadequate insulin production. This offers diabetic patients to monitor blood glucose level efficiently and enhance the treatment of this chronic condition.
Major Market Drivers and Restraints:
- Increasing international research collaborations
- Increasing patient pool suffering from diabetes
- Government Initiatives to better healthcare
- Technological developments
- Growing need for faster, safer and effective method of diagnosis and treatment of diabetes
- Reimbursement issues
By Product Type The Diabetes Care Devices Market is segmented into blood glucose monitoring devicesandinsulin drug delivery devices.
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The Insulin drug delivery devices is further segmented into insulin syringes, insulin pens, insulin pumps, and insulin jet injectors.
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On The Basis Of End-Users The Diabetes Care Devices Market is segmented into hospitals, clinics, home healthcare, ambulatory care, others.
Based on geography, the market is segmented into five geographical regions:
- North America
- South America
- Middle East and Africa(MEA)
The Diabetes Care Devices Market is highly fragmented and is based on new product launches and clinical results of products. Hence the major players have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market.
Some of the major players operating in Electrosurgery Devices Market are:
- Becton, Dickinson and Company
- Roche Diagnostics Ltd, Johnson and Johnson
- Bayer AG, Abbott Laboratories
- Acon Laboratories, Inc
- Ypsomed AG
- Novo Nordisk A/S
- Medtronic plc
- ARKRAY Inc
- Terumo Corporation
- Dexcom, Inc.,
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Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models.
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