The BRIC Diabetes Care Devices Market has witnessed strong growth in the past few years, and is further expected to grow at an approximate CAGR of 6.3% during the forecast period.
The BRIC Diabetes Care Devices Market is largely driven by the increasing number of diabetics across BRIC countries, growing research on diabetes, and increasing international research collaborations. The rising obese population and rapid industrialization and urbanization are further expected to contribute to the growth of this market. However, high cost of diabetes care devices, disparity in reimbursement, availability of alternative treatments, and lack of awareness inhibit the growth of this market.
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Diabetes is a group of metabolic disorders, characterized by high blood glucose levels due to either inadequate insulin production or insulin resistance. Diabetes care devices are used to manage blood glucose levels. There are mainly two types of diabetes care devices, namely, blood glucose monitoring devices and insulin delivery devices.
In BRIC Diabetes Care Devices Market report, the BRIC diabetes care devices industry has been segmented by type into blood glucose monitoring devices and insulin delivery devices. The blood glucose monitoring devices segment is further classified into testing strips, self-monitoring blood glucose meters, lancets, continuous glucose monitors, and others; while, the insulin drug delivery devices segment is subsegmented into insulin syringes, insulin pens, insulin pumps, and insulin jet injectors.
Diabetes Care Devices Market, by Type
- Blood Glucose Monitoring Devices
- Testing Strips
- Self-monitoring Blood Glucose Meters
- Continuous Glucose Monitors
- Insulin Delivery Devices
- Insulin Syringes
- Insulin Pens
- Insulin Pumps
- Insulin Jet Injectors
Market Drivers of BRIC Diabetes Care Devices Industry:
- Increasing Incidence of Diabetes Especially Among Obese Population
- Increased Collaborations and Funding To Support Diabetes Research
Market Restraints of BRIC Diabetes Care Devices Industry:
- Lack of Awareness
- Geographical Limitations
Market Opportunities inBRIC Diabetes Care Devices Industry:
- Favorable Government Policies
Market Challenges inBRIC Diabetes Care Devices Industry:
- Stringent Regulations and Registration Process
Some of the major players in BRIC Diabetes Care Devices Market include:
- Becton, Dickinson and Company (U.S.),
- Roche Diagnostics Ltd. (Switzerland),
- Johnson and Johnson (U.S.),
- Bayer AG (Germany),
- Abbott Laboratories (U.S.),
- Acon Laboratories, Inc. (U.S.),
- Ypsomed AG (Switzerland),
- Novo Nordisk A/S (Denmark),
- Medtronic plc (Ireland),
- ARKRAY Inc. (Japan),
- Terumo Corporation (Japan),
- Dexcom, Inc. (U.S.),
- Sanofi (France)
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Rising diabetic population in BRIC countries and growing adoption of diabetes care devices for management of diabetes and its complications by patients and healthcare professionals will propel the growth of the BRIC diabetes care devices market. China accounted for the largest share of this market in 2014; while, India is expected to witness the highest growth rate during the forecast period.
Reasons to Buy the BRIC Diabetes Care Devices Market Report:
The report will enrich both established firms as well as new entrants/smaller firms, and allow them to gauge the pulse of the market, which in turn will help firms garner greater market shares. Firms purchasing the report could use one or a combination of the below-mentioned strategies (market penetration, product development/innovation, and competitive assessment) for increasing their market shares.
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The BRIC Diabetes Care Devices Market report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the BRIC diabetes care devices market. The report analyzes the BRIC diabetes care devices market by type and country.
- Product Development/Innovation: Detailed insights on the upcoming trends, research and development activities, and new product launches in the BRIC diabetes care devices market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies, products, distribution networks, and manufacturing capabilities of the leading players in the BRIC diabetes care devices market.
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