The Global Diabetes Care Devices Market has been estimated at USD 17.26 Billion in 2015 and is projected to reach USD 22.80 Billion by 2020, at a CAGR of 5.73% during the forecast period from 2015 to 2020.
Diabetes is a group of metabolic disorders, chronic condition which is associated with abnormally high level of sugar (glucose) in the blood. The diabetes patient pool is expected to reach 380 million by 2025 because of drastic rise in population, sedentary lifestyle, unhealthy dietary patterns etc.
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The market driven by factors like increasing pool of patients suffering from diabetes, more investments in R&D resulting in technological innovations, diabetes diagnosis and treatments with minimally to noninvasive techniques. Furthermore, by increasing awareness, improving diagnosis and treatment rates, a growing need among people for safer, faster and effective methods will lead to increased adoption rates for care devices.
However, market is restricted by high cost associated with diagnosis and treatment. Moreover, reimbursement issues and patent expiry are also an issue.
The diabetes care devices offer solution to diabetes patients to manage glucose in blood. Here in with, the diabetes care device market is segmented by device type and by country.
By type the market has been segmented in to Diabetes monitoring devices, Insulin delivery Systems and Diabetes Control Solutions. Further, the Diabetes Monitoring Devices market is segmented into Self Blood Glucose Monitoring Devices and CGM Systems.
Accordingly, Insulin Delivery Systems is segregated under Insulin Pens, Insulin Pumps, Jet Injectors and Insulin Syringes.
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Global Diabetes Care Devices Market Geographical Analysis
- North America
- Latin America
- Middle East & Africa
North America held the largest share in the global diabetes care products market. Europe and Asia-Pacific follows the North America’s way.
Especially the Asia-Pacific region provides significant opportunities for the diabetes care in which China (1.3 billion) and India (1.2 billion) being the most populous countries in this region, contributes for the demand for diabetes care devices. According to the International Diabetes Federation, China had the largest number of diabetic patients with around 96.2 million and India had around 66.8 million diabetic patients.
As of 2015, approximately 45% of the global diabetic population are from China and India. So many global diabetes care devices companies show interest to invest in these countries.
Global Diabetes Care Devices Market Leaders' Analysis
- F. Hoffmann-La Roche Ltd
- Medtronic Inc.
- Johnson & Johnson
- Abbott Laboratories
- Becton, Dickinson and Company
- Ascensia Diabetes care
- Novo Nordisk A/S
- Dexcom, Inc.
- Insulet Corporation
- Terumo Corporation
- Tandem Diabetes Care, Inc
- Ypsomed AG
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