Global Diabetes Devices Market is expected to reach USD 35.5 billion
by the year 2024, according to a new report published by Grand View
Research, Inc. Major drivers of the market include the growing number of
diabetic patients owing to the sedentary lifestyles and unhealthy food habits.
The growing demand for the advanced and minimally invasive, diagnostic as well
as monitoring devices is expected to propel the market growth during the
forecast period.
The rising awareness with regard to the technologically
advanced monitoring tools, such as the continuous glucose monitor, is a crucial
factor expected to spur the growth of the market. The demand for affordable
monitoring devices in the developed as well as the less-developed countries is
expected to propel the market growth of products, such as glucose test strips.
The existence of relatively smooth product approval
procedures in most of the developed countries including the U.S and European
countries are expected to boost the insulin devices market. The rising
popularity of the compact, easy to carry monitoring devices, and the
introduction of minimally invasive, highly efficient devices is expected to
drive the market growth at a lucrative rate. However, the disparity in the
reimbursement policies is primarily challenging the overall growth of this
market.
Full Research Report on Global Diabetes Devices Market
Analysis
Further key findings from the study suggest:
- The
demand for the diabetes devices is expected to surge owing to the factors
such as the constantly increasing geriatric population prone to diabetes,
the government initiatives taken to support better management of diabetes,
and the growing awareness regarding diabetes devices
- In
2015, the test-strips sub-segment captured the largest market share in the
blood glucose monitoring and diagnostic devices segment. The insulin pens
accounted for the largest share of the insulin delivery devices segment.
The global diabetes devices market is expected to reach USD 35.4 billion
in 2024.
- The
monitoring and diagnostic devices segment captured the largest market
share of the overall market in 2015. The segment accounted for around 71%
of the total market owing to repeat purchases.
- The
monitoring and diagnostic devices segment is expected to maintain its
dominance during the forecast period owing to the introduction of
technologically advanced products coupled with the high adoption of these
products in the near future
- North
America captured the largest market share of around 32% in the year 2015.
The domination of the market is expected to continue with a CAGR of 5.9%.
The growing diabetic population, the availability of technologically
advanced devices, and the presence of skilled professionals are the
factors contributing to the growth of the market in North America.
- Asia
Pacific is the fastest growing segment of the market. Countries, such as
China and India are expected to show a swift growth owing to the high
prevalence of diabetes, the rising awareness regarding commercially
available devices, and the growing disposable income in these countries
- The
key players in diabetes devices market include Abbott Laboratories, Inc.,
Bayer Healthcare AG, Johnson& Johnson, F. Hoffmann La-Roche Ltd.,
Becton Dickinson and Company, Medtronic, Inc., Novo Nordisk A/S, and
Sanofi.
View more reports of
this category by Grand View Research at: http://www.grandviewresearch.com/industry/medical-devices
Grand View Research
has segmented the Global Diabetes Devices Market on the basis of device, type,
and geography.
Diabetes devices market by product, revenue, (USD
Million), 2013 - 2024
- Self-Monitoring
and Diagnostic Devices
- Lancets
- Analogue
glucose monitor
- Continuous
glucose monitor
- Test
Strips
- Insulin
Delivery Devices
- Syringes
- Pens
- Pumps
- Injectors
Diabetes devices market by region, revenue, (USD
Million), 2013 - 2024
- North
America
- U.S.
Diabetes Devices Market, by Device Type
- Canada
Diabetes Devices Market, by Device Type
- Europe
- U.K.
Diabetes Devices Market, by Device Type
- Germany
Diabetes Devices Market, by Device Type
- Asia
Pacific
- China
Diabetes Devices Market, by Device Type
- India
Diabetes Devices Market, by Device Type
- Latin
America
- Brazil
Diabetes Devices Market, by Device Type
- Mexico
Diabetes Devices Market by Device Type
- MEA
- South
Africa Diabetes Devices Market, by Devices Type
View Press Release Of this research report by Grand View
Research:
About Grand View Research
Grand View Research,
Inc. is a U.S. based market research and consulting company, registered in the
State of California and headquartered in San Francisco. The company
provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
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